Developing economies including the Philippines are pressing the World Bank Group (WBG) to help reduce borrowing costs as the economic fallout from the Middle East conflict drives up oil prices, disrupts supply chains, and threatens growth and food security. In an April 16 statement delivered before...
WASHINGTON (AP) — President Donald Trump said that U.S. negotiators will head to Pakistan on Monday for talks with Iran, lifting hopes of extending a ceasefire set to expire this week even as Washington and Tehran remain locked in a standoff over the Strait of Hormuz. The prospect of talks on...
CAIRO (AP) — The standoff over the Strait of Hormuz escalated again Saturday as Iran reversed its reopening of the crucial waterway and fired on ships attempting to pass, in retaliation after the United States pressed ahead with its blockade of Iranian ports. The strait is closed until the U.S....
ANTALYA, Turkey (AP) — Iran is not yet ready to hold a new round of face-to-face talks with U.S. officials, a senior Iranian official said Saturday, citing Washington 's refusal to abandon “maximalist” demands on key issues. In an interview with The Associated Press on the margins of a...
Multilateral development banks (MDBs) are stepping up coordination to cushion economies from the spillover effects of the Middle East conflict, citing rising energy costs, supply chain disruptions, and tighter financial conditions as immediate risks to growth and stability. In an April 17 joint...
WASHINGTON (AP) — The House rejected a resolution Thursday requiring President Donald Trump to withdraw U.S. forces from the war with Iran unless Congress authorizes military action. It was the latest such vote that fell short of passage as Republicans largely continue to support Trump 's...
Rising global energy prices driven by Middle East tensions are posing growing risks to the Philippine office real estate sector, as higher power costs threaten tenant demand, rental growth, and asset values, according to property consultancy Colliers. In an April 16 report, Colliers Philippines...
The Philippines has launched a safeguard investigation into rice imports, as authorities move to assess whether a surge in inbound shipments is harming domestic farmers of the country’s primary food staple. In an April 15 notification to the Geneva-based World Trade Organization (WTO), the...
While the oil-induced inflation spike in the Philippines is raising concerns, think tank Capital Economics expects the Bangko Sentral ng Pilipinas (BSP) to keep key interest rates steady for the rest of the year. In an April 15 report, Capital Economics chief emerging markets (EMs) economist...
MILAN (AP) — Italian Premier Giorgia Meloni was supposed to be Europe’s bridge to U.S. President Donald Trump. It may be burning. After chastising Pope Leo XIV, Trump turned his ire on Meloni, long one of his closest European allies, for calling his papal broadside “unacceptable” and not...
Pockets of extreme tightness in refined fuel supply across Asia are emerging as a major constraint on growth, with the Philippines among the most exposed economies, according to think tank Oxford Economics. In report last Wednesday, April 15, Oxford Economics senior economist Sheana Yue warned that...
CAIRO (AP) — Pakistan’s army chief met Wednesday in Tehran with Iran 's foreign minister in the latest diplomatic move to ease tensions in the Middle East and arrange a second round of negotiations between the United States and Iran after almost seven weeks of war. The White House said...
