Philippine Amusement and Gaming Corporation (Pagcor) Chairman Alejandro Tengco has pointed to e-wallet delinking and the Middle East oil crisis as reasons for its reduced revenue in 2025. In a budget briefing held Monday, Aug. 24 on the 2027 National Expenditure Program (NEP) by the House Committee...
The Philippine economy could weaken further in 2026 as the prolonged war in the Middle East, governance concerns, and El Niño threaten growth while elevated inflation and borrowing costs cloud the outlook, the Department of Economy, Planning, and Development (DEPDev) warned. “The country’s...
Iran 's president defended a memorandum of understanding with the United States as the best way out of a stalled war. Meanwhile, the new head of the Islamic Republic 's top security body warned, in a more forceful tone, of retaliation if neighboring countries support U.S. threats to...
U.S. President Donald Trump said Tuesday the U.S. has no talks planned with Iran but insisted the Strait of Hormuz remains "open and operating," despite limited traffic and a reported strike on a ship exiting the waterway. Earlier this week, Trump also threatened to bomb Oman as the country sought...
The Philippines recorded the second-largest increase in 10-year government bond yields among selected Asia-Pacific economies since the war in the Middle East began, raising the government’s borrowing costs at a time when the Marcos Jr. administration is relying heavily on domestic debt to finance...
Flag carrier Philippine Airlines (PAL) swung to a net loss in the first half of the year as escalation in Middle East geopolitical conflict pushed jet fuel expenses sharply higher, overwhelming steady top-line growth and disciplined non-fuel spending. PAL’s parent firm PAL Holdings Inc. reported...
The Philippine economy faces an uphill battle in the second half of 2026 after posting its weakest post-pandemic growth, with private sector economists warning that faster infrastructure spending, easing inflation, and stronger investor confidence will determine whether the country can meet the...
The net income of Social Security System (SSS), the state-run pension fund for private-sector workers, fell by 28 percent to ₱48 billion in the first half of 2026 as expenses, especially benefit payouts to pensioners, continued to rise faster than its income. SSS’ latest condensed statement of...
Malacañang said that the P12-per-liter fuel discount for public utility vehicle (PUV) drivers will continue as long as the transport sector needs government assistance amid the impact of higher fuel prices. In a press briefing on Thursday, Aug. 6, Presidential Communications Office (PCO)...
The war in the Middle East could push as many as 86,000 more people living in Philippine urban areas into poverty as higher fuel, food, as well as transport costs strain household budgets, according to the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP). In its...
Malacañang said that savings generated by withholding funds from questionable infrastructure projects were used to bankroll the government 's UPLIFT program and other interventions aimed at cushioning Filipinos from the impact of the Middle East crisis. Presidential Communications Office...
A “triple threat” of crude oil prices topping $80 per barrel, Metro Manila’s ₱85 daily wage hike, and severe El Niño conditions could push third-quarter Philippine inflation back to levels seen during the height of the Middle East crisis and prompt the Bangko Sentral ng Pilipinas (BSP) to...
