Senator Christopher “Bong” Go on Thursday, April 2, called on the government to implement a more responsive fuel relief mechanism in light of the oil price surges. Go, made the appeal even after the President’s signing of the law temporarily suspending excise tax, raising concerns over...
Senate Minority Leader Alan Peter Cayetano said he believes that the ongoing oil crisis is a good opportunity to train the country’s future leaders. Cayetano expressed his belief to hundreds of graduating and moving-up students with their parents during end-of-school-year rites in Taguig City...
The Philippines and its emerging neighbors in Southeast Asia face deepening threat of physical fuel shortages and systemic economic paralysis as the continued closure of the Strait of Hormuz chokes off refined petroleum imports. According to Oxford Economics, the Philippines is among the most...
The Philippines has asked Iran to be designated as a “non-hostile” country in the Strait of Hormuz as the government is struggling to meet its oil needs due to the waterway’s partial closure. Department of Foreign Affairs (DFA) Secretary Ma. Theresa Lazaro on Wednesday, April 1, sat down...
Philippine officials on Wednesday, April 1, sat down with Iran 's top diplomat in Manila as the government sought unrestricted passage of tankers carrying oil for the country through the Strait of Hormuz. Department of Foreign Affairs (DFA) Secretary Ma. Theresa Lazaro and Department of Energy...
A wider external imbalance threatens to add further depreciation pressure on the already record-weak Philippine peso, as escalating geopolitical tensions—particularly the United States (US)-backed Israel-Iran conflict—are expected to drive up import costs and weigh on export growth, widening...
Aboitiz InfraCapital Inc., the infrastructure arm of the billionaire Aboitiz family’s conglomerate, is overhauling its operational protocols and employee benefits to navigate the national energy emergency triggered by volatility in the Persian Gulf. Aboitiz InfraCapital joined the growing list of...
We have seen this pattern before. A crisis hits, and at first, people freeze. Then slowly, almost quietly, behavior starts to shift. What feels temporary begins to leave permanent marks. We saw it during the pandemic; we are seeing it again now with rising oil prices. The current oil shock is about...
The Marcos administration has secured commitments from five nations to bolster its fuel inventory, with the Department of Energy (DOE) preparing to import more than one million barrels of diesel this April to shield the economy from global market volatility. In a briefing late Monday, March 30,...
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...
The Department of Social Welfare and Development (DSWD) said it is working to plug gaps in its public utility vehicle (PUV) cash aid list, with more than 170,000 unlisted drivers being validated for possible inclusion in a special payout after Holy Week. DSWD Secretary Rex Gatchalian said on...
Philippines’ most influential business coalitions pledged on Monday, March 30, to ramp up investments in renewable energy and implement aggressive conservation measures as the government scrambles to insulate the economy from the global oil shock triggered by escalating Middle East hostilities....
