The Business Times
business-time-50
Asean Business logo
SPONSORED BYUOB logo
ASEAN BUSINESS

Philippines’ businesses hoped to turn the corner in 2026 – then oil prices spiked overnight

Dire straits beckon as central bank holds unscheduled policy rate meeting amid fuel emergency

Summarise
google-preferred-sourceAdd BT as a preferred source
Evan See

Evan See

Published Mon, Mar 30, 2026 · 06:14 PM
阅读简体中文版 (beta)
    • A survey by the Philippines' central bank shows the country's economy was on the verge of a potential economic turnaround before the Iran conflict.
    • A survey by the Philippines' central bank shows the country's economy was on the verge of a potential economic turnaround before the Iran conflict. PHOTO: BT FILE

    [SINGAPORE] A national energy emergency was likely the last thing on the minds of Filipino corporates just days before strikes on Iran by the US and Israel caused global energy prices to skyrocket overnight.

    According to a survey released by the Philippines’ central bank Bangko Sentral ng Pilipinas (BSP) on Friday (Mar 27), businesses in February raised their expectations for the country’s growth outlook substantially from the month before.

    The results offer a glimpse into an economy that saw itself on the verge of a turnaround in February, before the US and Israel struck Iran on the final day of the month, crushing hopes.

    AseanAsean BusinessPhilippinesoilenergy pricesAsia-PacificBangko Sentral ng PilipinasCentral banksInterest ratesOil prices

    TRENDING NOW

    Eugene Lai (left) says that he was sharing a view with Tan Chian Khong that the board needed a refresh and that it was not an explicit direction to resign.

    CSE Global independent director quits after clashes with chairman Eugene Lai over board refresh

    Some industry watchers wonder if Orchard Road can hold its own next to competing retail destinations, both global and local.

    What’s wrong with Orchard Road? Experts weigh in on the street’s cachet and its future

    Siranudh Scott had caused an internet sensation with a video accusing his brother of allegedly abusing him during his childhood years.

    ‘I felt like dying’: Thai Singha beer scion speaks up after disclosure of alleged sexual abuse

    The exterior (left) and interior (right) views of Waterwall House, featuring glass interfaces, open voids, split levels and raw concrete walls.

    Rare brutalist Singapore house opens to the public before changing hands

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More