Markets

Global oil markets swung violently Monday as the escalating conflict between the US and Iran disrupted one of the world’s most important energy corridors, briefly sending crude prices soaring before easing on hints the conflict might end soon.

Philippine financial markets enter the week on fragile footing as surging oil prices and escalating Middle East tensions complicate the outlook for equities, the peso, and monetary policy. 

The Philippine Competition Commission (PCC) has cleared the proposed acquisition by DoubleDragon Corporation of shares in MerryMart Consumer Corporation, allowing the transaction to proceed before the end of the regulator’s Phase 1 review period.

Jollibee Foods Corp., one of the largest fast food chain in Southeast Asia, is exploring a public listing for its fast-growing Vietnamese coffee arm, Highlands Coffee, in a move that could unlock fresh capital and sharpen the group’s regional expansion.

Global markets jolted into the new week after a dramatic escalation between the United States, Israel and Iran triggered fresh fears of an energy supply shock that could ripple through currencies, inflation and consumer prices worldwide.