Philippine banks face a potential surge in sour loans as escalating tensions in the Middle East threaten to disrupt the domestic economy and weaken the repayment capacity of households, according to S&P Global Ratings. Nikita Anand, S&P Global Ratings director and lead analyst for South and...
Second-round effects of surging energy costs are filtering through the Philippine gaming industry, as business activity begins to bear the brunt of elevated fuel prices caused by Middle East tensions. Philippine Amusement and Gaming Corp. (Pagcor) Chairman and Chief Executive Officer (CEO)...
The Bureau of Customs (BOC) is fast-tracking shipments of essential goods to prevent additional costs under a state of national energy emergency. Responding to an April 8 Presidential directive from the Office of the Executive Secretary (ES), Customs Commissioner Ariel F. Nepomuceno mobilized all...
Stagflationary pressures are building in the Philippines as swift and pronounced spillovers from the Middle East conflict prompt the International Monetary Fund (IMF) to slash its growth forecast while anticipating above-target inflation. According to the IMF’s April 2026 World Economic Outlook...
The Philippines is grappling with entrenched institutional weaknesses and rising geopolitical volatility that threaten to undermine its credit profile, according to global debt watcher Moody’s Ratings. While the credit watcher maintained the nation’s investment-grade rating at ‘Baa2’ with...
Drivers and operators of diesel-fed public utility vehicles (PUVs) will stand to benefit more from the additional fuel subsidy program than the cancellation of the excise tax on fuel, the Land Transportation and Franchising Regulatory Board (LTFRB) said. The additional fuel subsidy approved by...
More than 17,000 troops from the Philippines and six other countries are set to take part in the 41st iteration of the annual Exercise Balikatan, scheduled from April 20 to May 8. The Armed Forces of the Philippines (AFP) on Tuesday, April 14, confirmed the participation of its counterparts from...
Senate President Pro Tempore Panfilo "Ping" Lacson pressed the government on Tuesday, April 14 to explore more "targeted" interventions—including a potential fuel subsidy mechanism—to shield Filipinos from the cooling effects of the Middle East conflict on global oil prices. In an interview,...
The Department of Foreign Affairs (DFA) on Tuesday, April 14, noted a decline in repatriation requests from non-overseas Filipino workers (non-OFWs) following the recent ceasefire between the United States and Iran, signaling a temporary easing of tensions in the Middle East. In its latest update,...
Muntinlupa Mayor Ruffy Biazon announced that the local government will acquire more electric vehicles (EVs) to strengthen sustainable transport initiatives as the country grapples with the oil crisis. Biazon earlier inspected eight EV patrol cars that were given by the city government to the...
President Marcos remains not keen on suspending the value-added tax (VAT) on petroleum products, citing the "windfall" revenue it generates as a source of funding for response efforts amid the Middle East crisis. In a Palace briefing on Monday, April 13, Marcos finally elaborated on the reasoning...
Foreign ministers of the Association of Southeast Asian Nations (ASEAN) on Monday, April 13, urged sustained diplomacy and restraint following recent developments in the Middle East, while welcoming a temporary ceasefire between the United States and Iran. Department of Foreign Affairs (DFA)...
