High food prices in the Philippines are likely to persist over the long term unless the government accelerates the adoption of technologies that reduce dependence on foreign inputs and safeguard local production, the United Nations’ Food and Agriculture Organization (FAO) said. In its latest...
Empire East Land Holdings Inc., the middle-income housing unit of Andrew Tan-led Megaworld Corp., reported a 2.6-percent improvement in consolidated net profit to ₱260.92 million in the first quarter of 2026 from ₱254.21 million during the same period last year. The growth can be traced to...
Senator Imee Marcos has called on the government to aggressively pursue direct government-to-government (G2G) oil procurement to cushion the impact of the ongoing global oil crisis. Marcos pointed this out as she questioned the government’s inability to pursue a G2G deal with Russia. The...
The Department of Migrant Workers said on Saturday, May 2, that around 1,300 Filipino seafarers have safely crossed the Strait of Hormuz while 14 others are attempting to traverse the waterway amid the ongoing ceasefire in the Middle East crisis. "Sa Strait of Hormuz naman, ang minamanmanan natin...
Businesses have turned more pessimistic about the global economic outlook amid the ongoing United States (US)/Israel war with Iran, according to think tank Oxford Economics. In an April 30 report, Oxford Economics head of macro scenarios Jamie Thompson said the conflict in the Middle East is...
Malacañang said the Philippine peso breaching another record low value against US dollar was due to "unusually strong" dollar and the ongoing Middle East crisis. In a Palace briefing on Thursday, April 30, Palace Press Officer and Communications Undersecretary said that the weakening of the peso...
The Philippines and its neighbors in the Association of Southeast Asian Nations (ASEAN) are moving to fortify regional trade pacts and energy security frameworks as escalating Middle East tensions threaten to destabilize global supply chains. Trade Secretary Cristina Roque said the economic...
United Kingdom (UK)-based think tank Pantheon Macroeconomics said the Philippine economy remains too fragile to quickly pass through surging energy prices into demand-side pressures, suggesting that the latest interest rate hike is likely a one-off move. As such, the benchmark rate at 4.5 percent...
The World Bank Group (WBG) has warned that the war in the Middle East is set to trigger the biggest energy price surge in four years, fueling inflation, slowing economic growth, and worsening food insecurity across developing economies. In an April 28 statement, the Washington-based multilateral...
Until a clearer signal emerges from the temporary military truce between the United States (US) and Iran, the Philippine peso stands to sustain additional bruises from the geopolitical tensions that have already battered it, according to Singapore-based Oversea-Chinese Banking Corp. Ltd. (OCBC)....
The Philippine economy faces a potential “second wave” of inflation and a sharp slowdown in growth if geopolitical volatility in the Middle East persists, according to HSBC. In a briefing on Tuesday, April 28, Aris Dacanay, HSBC senior Asean economist, warned that a prolonged blockade of the...
Senator Risa Hontiveros on Monday, April 27 warned that the government may need an emergency supplemental budget higher than the P52.8-billion she earlier proposed if the Middle East conflict and the subsequent oil crisis extends to May and beyond. In a radio interview, Hontiveros said the...
