The Philippines is among the economies hardest hit by the prolonged Middle East conflict, but it could emerge as a beneficiary once the Strait of Hormuz reopens and global oil shipments normalize, according to think tank Oxford Economics. In a July 22 report, Oxford Economics senior emerging market...
CAIRO (AP) — A declared blockade of Saudi Arabia by Yemen 's Houthi rebels has the potential to widen the Iran war and further disrupt global oil supplies and international trade. The rebels say they have closed the Bab el-Mandeb Strait to Saudi-linked shipping in retaliation for the...
A ₱5,000 cash relief assistance (CRA) distributed by the government to help drivers cope with the fuel price shock has largely succeeded in keeping transport workers on the road, but almost two-thirds of beneficiaries said the amount was insufficient to cover their operating costs, according to...
DUBAI, United Arab Emirates (AP) — Iran attacked a tanker in the Strait of Hormuz early Tuesday, forcing its crew to abandon the ship even as the United States conducted yet-another round of airstrikes targeting the Islamic Republic over control of the key waterway. The 10 consecutive nights of...
The Las Piñas City Regional Trial Court sentenced a Taiwanese to life imprisonment after finding him guilty of possessing over P250 million worth of shabu following a search warrant operation, the Philippine Drug Enforcement Agency (PDEA) said on Tuesday, July 21. Citing decision from the L as...
SOKOTO, Nigeria (AP) — Maryam Aminu was hardly surprised when the last of her six children was diagnosed with malnutrition in April for a second time. She was barely feeding the 18-month-old regularly, let alone with nutritious foods. Although the family in northwest Nigeria has struggled with...
The Philippines stands as one of the countries most vulnerable to fuel shortages amid reports of Houthi threats to close the Bab el-Mandeb Strait, according to think tank Capital Economics. “The reliance of several Asian economies, especially Pakistan, the Philippines and Japan, on oil exports...
Potential United States (US) tariff hikes on Philippine exports pose a fresh threat to the peso, which has remained among Asia’s weakest-performing currencies since geopolitical tensions flared up in the Middle East in late February. Trading this week showed the local currency on the verge of...
DUBAI, United Arab Emirates (AP) — The United States expanded its airstrike campaign against Iran early Friday by increasingly hitting bridges, part of President Donald Trump 's threats to start striking infrastructure to pressure Tehran to ease its chokehold on the Strait of Hormuz....
DUBAI, United Arab Emirates (AP) — The United States intensified its strikes targeting Iran early Thursday, hitting targets further north as American forces also fired into a ship it accused of trying to break its naval blockade on the Islamic Republic. Iran retaliated with missile and drone...
Government anti-narcotics authorities seized around P3.74 million worth of suspected shabu following the arrest of three drug suspects included in the high-value target (HVT) roster during a buy-bust operation in Pili, Camarines Sur, the Philippine Drug Enforcement Agency (PDEA) said. In a...
Victims ' pursuit of justice over the bloody drug war will not be neglected, Malacañang assured. This comes as the United States seeks to dismantle the "International Criminal Court 's threat" to its sovereignty. While the Philippines reviews the possible implications of the...
