Philippines

The Philippines’ measured response shows how governments are balancing relief for sectors hit by higher commodity prices due to the Iran war.

Philippine economic managers oppose tax halt on diesel, petrol

Oil prices have whipsawed on daily developments in the war

The scandal centres on the alleged failure of public authorities to dedicate the funds at their disposal to the declared goal of building defences against flooding.

Fund managers seek reporting crackdown after Philippines scandal

The group is also asking for greater transparency around infrastructure spending

Diesel and petrol prices in the Philippines have more than doubled since the start of the Middle East conflict.

Philippine President Marcos suspends taxes on fuel products

The temporary tax reduction cuts LPG prices by 3.36 pesos per kg

The waivers have prompted criticism from European allies and members of Congress who say that the US is allowing adversaries to profit from its effort to increase global oil supply.

Asian nations push US to extend sanctions waiver on Russian oil

India and the Philippines are among countries urging the US to renew the sanctions reprieve on Russian oil

The South-east Asian nation is particularly exposed to the Iran war as it depends heavily on oil imports from the Middle East.

S&P lowers Philippines outlook to stable on impact of Iran war

The ratings firm projects the country’s gross domestic product to grow 5.8% this year

Many travellers on these routes are Filipinos working in the Middle East who rely on these flights to move between their workplaces and hometowns.

Philippine carriers suspend more Middle East flights amid war

The government has said that it can intervene to help airlines secure jet fuel

The Philippines depends heavily on Middle East oil, leaving it vulnerable to supply shocks and price volatility during periods of geopolitical conflict.

Philippine central bank warns of oil spike ‘spillover effects’ as inflation breaches target

Headline inflation rises to 4.1% in March from a year earlier, the highest reading since July 2024

Bond traders have flocked to markets with stronger buffers against energy‑driven inflation shocks, including Malaysian sovereign bonds.
ASEAN BUSINESS

Amid an emerging market bond sell-off, traders eye attractive Asean moves

Malaysia and Philippine debt could see inflows, but Iran conflict may keep credit conditions fragile