The World Bank Group (WBG) said it is stepping up support for emerging market (EM) economies like the Philippines, as the ongoing Middle East conflict drives up commodity prices and disrupts global logistics, posing new risks to growth and food security. In a statement on Thursday, March 26, the...
The Manila City local government slammed posts on social media saying that dump trucks or garbage trucks were used in its "Libreng Sakay" program to transport commuters for free as several public utility vehicle (PUV) drivers and operators, particularly jeepney drivers, refrained from plying their...
The Philippines’ goods trade with the rest of the world grew faster in February, ahead of the conflict in the Middle East posing a threat to the country’s exports. The latest preliminary Philippine Statistics Authority (PSA) data on Friday, March 27, showed that total external trade rose 10.7...
Flag carrier Philippine Airlines (PAL) is cutting down its international and domestic connectivity from regional airports as it looks to optimize services to minimize the impact of the Middle East conflict on its operations. In an advisory on Thursday, March 26, PAL said it is implementing...
Asia-Pacific economies, including the Philippines, are highly vulnerable to a protracted conflict in the Middle East, as sustained spikes in energy prices and broader disruptions threaten to slow growth and accelerate inflation, according to the Asian Development Bank (ADB). In a brief titled...
While Philippine monetary authorities maintained the current policy rate at 4.25 percent in a rare off-cycle meeting, the Bangko Sentral ng Pilipinas (BSP) said it would hike key interest rates if second-round effects from war-driven oil supply shocks occur. “Once we see second-round effects from...
The Philippine Ports Authority (PPA) has issued an administrative order that will pave the way for the implementation of the P1 terminal fee for Roll on-Roll Off vehicles carrying raw and unprocessed agricultural products in all the agency’s supervised and managed ports. The existing Ro-Ro...
A unified government framework is needed to effectively address the global fuel and energy disruptions amid the continuing conflict in the Middle East, Sen. Francis “Chiz” Escudero said on Thursday, March 26. Escudero made the call as he welcomed President Marcos’ signing of Executive Order...
Even as foreign lenders expect the Bangko Sentral ng Pilipinas (BSP) to tighten sooner rather than later, as inflation could breach what is deemed manageable this year, the central bank decided to keep the policy rate unchanged in a rare off-cycle meeting on Thursday, March 26. While inflation is...
A total of 21,127 delivery riders operating in Manila are being targeted to receive the P5,000 fuel subsidy from the national government starting on Thursday, March 26, as part of its efforts in alleviating the adverse economic effects of the Middle East war in the country, particularly on the...
Department of Foreign Affairs (DFA) Secretary Ma. Theresa Lazaro said she received reports from Washington that US President Donald Trump was negotiating with Iranian leaders, which might not be known among the bureaucracy. "We 're looking at that. And we 're hoping that, if ever there...
Declaring a state of national energy emergency should not be a cause of alarm as it does not place the country in a general emergency. President Marcos said this as he justified his move to declare an energy emergency. In his public address on Wednesday, March 25, a day after signing Executive...
