President Marcos has defended his administration 's handling of the economic fallout from the conflict in the Middle East, saying the government responded quickly to protect Filipinos and mitigate the crisis ' effects. In his fifth State of the Nation Address (SONA) on Monday, July 27,...
Malacañang disclosed that the P22.7-billion savings of the government will be used to fund programs for vulnerable sectors affected by the Middle East conflict. According to the Department of Budget and Management (DBM), the government has P22.79 billion in savings, Palace Press Officer and...
US Secretary of State Marco Rubio defended Washington 's position on the escalating conflict with Iran, saying the United States remains open to diplomacy but will act to protect its interests and allies if Tehran fails to negotiate in good faith. Speaking at the ASEAN Post-Ministerial...
Foreign ministers of the Association of Southeast Asian Nations (ASEAN) expressed "serious concern" over the evolving situation in the Middle East, following renewed hostilities involving the United States and Iran. In a statement, the ASEAN foreign ministers highlighted the regional bloc’s...
President Marcos announced the expansion of the government 's Unified Package for Livelihood, Industry, Food, and Transport (UPLIFT) Assistance program to provide additional financial aid to 7.5 million households affected by the impact of rising global oil prices. In a video message posted on...
The Marcos administration is studying possible public transport fare adjustments and additional assistance for affected sectors amid rising fuel prices amid renewed tensions in the Middle East, Malacañang said Wednesday, July 15. Presidential Communications Office (PCO) Undersecretary Claire...
Malacañang has attributed the rise in the country 's unemployment rate in May to the global oil crisis stemming from the conflict in the Middle East, saying the government had anticipated the impact and continues to roll out interventions to help affected workers. Presidential Communications...
No Filipino seafarers were injured in the latest attacks on two vessels traversing the Strait of Hormuz, with both ships remaining seaworthy and continuing their voyages, Malacañang said on Monday, June 29. Presidential Communications Office (PCO) Claire Castro, citing a report submitted to...
President Marcos and German President Frank-Walter Steinmeier both agreed that the new agreement between the United States and Iran, which include the reopening of the Strait of Hormuz, is a good step towards peace. Both leaders shared the same position over the key development in the Middle East...
Global debt watcher Fitch Ratings has lowered its outlook on the Philippine banking system to “deteriorating,” warning that exposure to the ongoing United States (US)-Iran war could dampen lending activity, raise credit costs, and squeeze profitability. Fitch wrote in a June 8 commentary that...
The country’s gross gaming revenues fell 15.9 percent in the first quarter of the year, driven by the sharp contraction in electronic gaming as inflationary spillovers from conflicts in the Middle East eroded local consumer discretionary spending. Philippine Amusement and Gaming Corp. (Pagcor)...
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...
