Friday, May 1, 2026
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Tag: Oil Shock

Kishida confident PH to get share in Japan’s regional oil support

Japan’s special envoy to the prime minister, Fumio Kishida, is optimistic that the Philippines—with its strong partnership with Japan— would be among the first...

Sandro Marcos urges relief in bank transaction fees

House Majority Leader Ferdinand Alexander ‘Sandro’ Marcos of Ilocos Norte on Friday pressed for sweeping relief from automated teller machine (ATM), online transfer, and...

Economic team maps out anti-oil shock options, warns of worst-case scenarios

The country’s top economic officials presented lawmakers Wednesday with the policy levers now on the table to soften the blow of the oil crisis,...

World Bank slashes Philippine growth forecast to 3.7% as oil shock hits

The World Bank lowered its 2026 GDP growth forecast for the Philippines to 3.7 percent, citing oil price shocks and regional economic headwinds.

Iran Guards say Strait of Hormuz ‘closed’ to hostile shipping

Tehran, Iran—Iran's Revolutionary Guards said Friday that they had turned back three ships trying to transit the Strait of Hormuz, adding the route was closed...

ERC suspends WESM trading; modified rules set for April 1

The Energy Regulatory Commission (ERC) has ordered the temporary suspension of the Wholesale Electricity Spot Market (WESM) across Luzon, Visayas, and Mindanao effective Thursday,...

Security sector ready to serve amid state of energy emergency

The Armed Forces of the Philippines (AFP) and the Philippine National Police (PNP) acknowledged President Ferdinand Marcos Jr.’s Executive Order No. 110, which placed...

Crisis body to sustain gov’t response to Middle East conflict — Recto

The crisis committee ordered by President Ferdinand "Bongbong" Marcos Jr. will not initiate the government’s response to the Middle East conflict but will instead strengthen and...

PH faces high risk from ME conflict as oil prices surge

The Philippines is among the nations most vulnerable to economic fallout from the ongoing conflict in the Middle East as rising oil prices threaten...
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