The research arm of Frankfurt-based Deutsche Bank sees a “ super ” El Niño developing from this month until July, threatening to further accelerate the surge in Philippine consumer prices already aggravated by the Middle East war. Deutsche Bank Research hiked its inflation assumption for...
Following weaker-than-expected Philippine economic expansion in the first quarter of 2026, Singapore-based United Overseas Bank Ltd. (UOB) slashed its full-year growth forecast to 3.2 percent from a more optimistic five percent previously. Excluding the contraction during the peak of Covid-19...
Southeast Asian leaders reaffirmed their commitment to regional unity, energy and food security, and people-centered development as they adopted the Chair’s Statement of the 48th Association of Southeast Asian Nations (ASEAN) Summit in Cebu under the Philippines’ chairship. The leaders said the...
LAPU-LAPU CITY, Cebu — “Peace—now.” This was the straightforward message of the Association of Southeast Asian Nations (ASEAN) leaders to parties involved in the escalating Middle East conflict, according to President Marcos. Speaking during a press conference on the sidelines of the 48th...
LAPU-LAPU CITY, Cebu - As the conflict in the Middle East threaten supply chains, Philip Morris International (PMI) has warned that it could trigger a major surge in the illicit trade of cigarettes, which may cost Southeast Asia billions in tax revenue should governments fail to respond Rodney van...
LAPU-LAPU CITY, Cebu — President Marcos on Friday, May 8, formally opened the 48th Association of Southeast Asian Nations (ASEAN) Summit here, calling on Southeast Asian leaders to respond with unity and resolve to the escalating crisis in the Middle East and its growing impact on the region....
The Philippine banking system remains largely insulated from the escalating geopolitical volatility in the Middle East, bolstered by record asset levels and capital buffers that have outpaced the nation’s broader economic growth, according to the Bangko Sentral ng Pilipinas (BSP). In its latest...
Samarkand, UZBEKISTAN — Amid comparisons by some local firms claiming that the ongoing oil crisis triggered by the conflict in the Middle East is hurting their business operations more severely than the Covid-19 pandemic, economists from the Asian Development Bank (ADB) said the broader...
LAPU-LAPU CITY, Cebu — Department of Foreign Affairs (DFA) Secretary Ma. Theresa Lazaro on Thursday, May 7 called on ASEAN member-states to remain agile and united in responding to global crises, saying the ongoing conflict in the Middle East has exposed the region’s vulnerabilities in...
A group of local shipping companies and operators has expressed gratitude to the Maritime Industry Authority (Marina) for what it described as the agency’s quick response to assist their sector at the height the oil supply and price woes due to the Middle East conflict. In a letter sent to...
Public debt in the Philippines moved closer to the 60-percent level at the end of the first quarter of 2026, as the government continued to ramp up borrowings while the private sector remained cautious amid risks stemming from the war in the Middle East. The latest Global Debt Monitor of the...
LAPU-LAPU CITY, Cebu — The Association of Southeast Asian Nations (ASEAN) sees no major obstacle to issuing a joint statement on the ongoing Middle East crisis despite the involvement of key global powers, including the United States, a Summit spokesperson said. In a press briefing here,...
