Top News
Strait of Hormuz closure push oil prices past $100/barrel
Global oil prices surged sharply, with Brent Crude for May delivery breaching USD100 per barrel for the first time in nearly four years as Iran threatened to keep the Strait of Hormuz closed amid escalating tensions with the US and Israel.
Prime Infra secures P273.47B financing for major energy storage projects
Prime Infrastructure Capital Inc. (Prime Infra) has secured P273.47 billion in financing for the development of 2,000 megawatts (MW) of pumped storage hydropower projects, strengthening its role in large-scale energy infrastructure.
DTI deploys P7B financing package amid Middle East conflict
The Department of Trade and Industry (DTI) is mobilizing a P7-billion financing package through the Small Business Corp. (SB Corp.) to support exporters, overseas Filipino workers (OFWs), and women-led enterprises as tensions in the Middle East threaten to ripple through global trade and employment.
Excise tax, VAT suspension risks fiscal hole, Senate told
The Philippine government could forgo as much as P272.83 billion in revenues in 2026 if excise taxes and value-added tax (VAT) on fuel imports are suspended, according to estimates presented by the Bureau of Customs (BOC) during a Senate hearing on March 11.
Power rates rise in March; households, businesses face higher electricity bills
The Manila Electric Company (Meralco) announced a power rate increase for March, raising electricity prices by P0.6427 per kilowatt-hour (kWh).
