While global oil shocks have yet to fully affect the Philippine economy since the flare-up of United States (US)-Iran military hostilities a month ago, the Bangko Sentral ng Pilipinas’ (BSP) minimum inflation assumption is that March accelerated at the fastest pace in at least 19 months. Seen as...
A total of 23,630 beneficiaries belonging to various transport groups and sectors in Manila have received the P5,000 fuel subsidy courtesy of the national government as aid amid the skyrocketing of fuel prices caused by the Middle East war, Manila Mayor Francisco "Isko Moreno" Domagoso said on...
Now is not the time for mudslinging and politicking while the country is reeling from the impacts of the conflict in the Middle East, Malacañang said. "Ang kailangan lang natin ay magkaroon ng pag-unawa, pag-intindi at kumbaga lahat tayo dito ay magtutulungan (All we need is to have understanding,...
The Bangko Sentral ng Pilipinas (BSP) is facing mounting pressure to abandon its steady policy stance as domestic and foreign lenders warn that persistent supply shocks are beginning to seep into the broader economy. A growing chorus of economists expects the BSP to raise its benchmark interest...
Most small fishers in Cavite have stopped fishing as they can no longer afford the skyrocketing price of diesel, fishers’ group Pambansang Lakas ng Kilusang Mamamalakaya ng Pilipinas (Pamalakaya) said on Monday, March 30. Richard Catenza, the president of Pamalakaya-Cavite, said small fisherfolk...
The Manila City government recorded over 28,000 commuters who benefitted from the first day of its "Libreng Sakay" program on Monday, March 30, aimed at providing the public with free rides while the city government subsidizes the daily earnings of participating jeepney drivers. First announced by...
Vice President Sara Duterte is honoring overseas Filipino workers (OFWs) in the Middle East as the country observes the Holy Week. In her message on Monday, March 30, Duterte said the Holy Week is a "sacred part" of being a Filipino, as it is the time when the people reflect on God 's...
Speaker Faustino “Bojie” Dy III has instructed the House of Representatives to conduct a series of joint committee hearings to consolidate government action and craft a comprehensive legislative response to the escalating Middle East crisis. In a statement Monday, March 30, Dy announced that...
Senator Sherwin Gatchalian said on Saturday, March 28, that the upper chamber’s Proactive Response and Oversight for Timely and Effective Crisis Strategy (PROTECT) Committee was preparing its interim report--including initial recommendations--to address the country’s fuel supply concerns amid...
Senator Loren Legarda is set to file the Bayanihan Power to the People Act, or the so-called Bayanihan 3 Law, which seeks to establish a decisive government framework in addressing the impacts of the global oil crisis on Filipino households and the national economy. Legarda stressed that Executive...
Senator Bam Aquino has renewed his call for the government to formally declare a price freeze on basic commodities and essential goods, stating that this would help shield the public from the impact of surging oil prices driven by the Middle East crisis. “Mag-price freeze na sila. Mula noong...
Despite the scorching heat, several groups trooped to Mendiola in Manila on Friday, March 27, to call on the national government to immediately act on various social and economic issues arising from the Middle East war. Around 800 protesters belonging to Pagkakaisa ng mga Samahan ng Tsuper at...
