DUBAI, United Arab Emirates (AP) — The U.S. military said it fired on Iranian forces and sank six small boats targeting civilian ships as it moved to reopen the Strait of Hormuz on Monday. The United Arab Emirates, a key American ally, said it had come under attack from Iran for the first...
Headline inflation or annual price increases soared to a 37-month high of 7.2 percent in April, mainly as domestic fuel and food prices skyrocketed due to the global oil price and supply shocks caused by the prolonged war in the Middle East. The Philippine Statistics Authority ’s (PSA) latest...
Vice President Sara Duterte said the case filed against her father, former president Rodrigo Duterte, before the International Criminal Court (ICC) is expected to proceed to full trial, acknowledging that there appears to be no path toward its dismissal. “We don’t see any way that the ICC will...
Government anti-narcotics authorities seized on Sunday, May 3, around P61 million worth of suspected shabu following the arrest of four talleged drug personalities during a buy-bust operation in General Trias, Cavite, the Philippine Drug Enforcement Agency (PDEA) stated. In a statement, the PDEA...
The Philippines’ manufacturing sector slipped into contraction in April amid the prolonged war in the Middle East that has driven up costs and disrupted trade flows, according to market intelligence firm S&P Global. The country ’ s purchasing managers’ index (PMI) fell to 48.3 last month...
Samarkand, UZBEKISTAN — Central bank and finance chiefs from across the Association of Southeast Asian Nations (ASEAN), China, Japan, and South Korea are bracing for slower economic growth and higher inflation risks amid a prolonged war in the Middle East. In a joint statement on Sunday, May 3,...
Signs of stagflation are surfacing in the Philippine economy as it enters the second quarter of 2026, with private sector economists warning of a precarious mix of stalled growth and surging consumer prices. The country’s economic output likely posted only a tepid recovery from the previous...
The peso is at risk of crumbling to a record low of ₱63 against the United States (US) dollar if a protracted Middle East conflict drives oil prices higher and forces Washington to adopt a more hawkish policy stance. Estimates by the Japanese financial giant MUFG Bank Ltd. show that in a risk...
WEST PALM BEACH, Fla. (AP) — President Donald Trump said on Saturday that he was reviewing a new Iranian proposal to end the war but also expressed skepticism it would lead to a deal. "I 'll let you know about it later," he said before boarding Air Force One, adding that "they 're going...
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...
Defense Secretary Pete Hegseth faced nearly six hours of questioning Wednesday from House lawmakers for the first time since President Donald Trump’s administration launched the war against Iran, which Democrats have contested as a costly conflict of choice waged without congressional approval....
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...
