Economy

Economy

Warning Shot for PH Economy: Fitch Says Oil Shock Could Pressure Credit Rating

A fresh warning just landed for the Philippine economy. Fitch Ratings said the country’s credit profile could come under pressure if slower growth drags on and the latest oil shock from the Middle East turns into a longer, more structural problem.

Economy

May Discount Na! Toll Fees for PUVs and Trucks Get Temporary Cut Starting March 23

Public utility vehicles, buses, and freight trucks are getting a temporary toll break starting Monday, March 23, after the Department of Transportation announced a two-month discount program for selected expressways. According to the DOTr, the move is meant to soften the blow of rising fuel costs linked to the ongoing

Economy

Oil Hits $113 as Iran Bombs Gulf Energy Plants — Brace for Another Pump Price Surge

The Middle East war just got a whole lot worse — and Pinoy motorists are about to feel it at the pump. Oil prices surged past $113 per barrel on Thursday after Iran launched retaliatory missile strikes on several Gulf energy facilities, including Qatar's Ras Laffan — the world'

Economy

Brace Yourselves: Fuel Prices Going Up Again Next Week — 10th Straight Week of Hikes

Prepare your wallets, mga kababayan — fuel prices are set to climb again next week, marking the 10th consecutive week of increases as the Middle East war continues to wreak havoc on global oil supply. But there's a tiny silver lining: the hikes are expected to be smaller than

Economy

Marcos Releases ₱21.47 Billion Emergency Fund to Fight Fuel Price Crisis

Economy

BSP Might Raise Interest Rates by April — Oil Crisis Could Force a U-Turn on Easing

The Bangko Sentral ng Pilipinas (BSP) is now seriously considering a rate hike as early as April, completely reversing its recent easing stance — all because the Middle East oil crisis won't stop hammering the Philippine economy. Finance Secretary Frederick Go, who sits on the Monetary Board, dropped the

Economy

Grabe! Peso Crashes Past ₱60 Per Dollar — First Time Ever as Markets Tumble

The Philippine peso smashed through the ₱60-per-dollar barrier for the first time in history on Thursday, plunging to ₱60.40 during intraday trading as the US Federal Reserve's decision to hold interest rates high continues to supercharge the dollar against emerging market currencies. The Philippine Stock Exchange index

Economy

Car Sales Bumagsak ng 8.5% — But Electric Vehicles Are Winning Big

Philippine auto sales took a hit in February, dropping 8.5 percent year-on-year to 35,842 units from 39,164 the year before. But there's a bright spot in the numbers: electric vehicle sales are surging, signaling a major shift in what Filipinos want to drive. According to