Tag: balance of payments

Philippine exporters and logistics players are being urged to closely track fast-moving developments affecting trade flows to the Middle East, particularly the United Arab Emirates (UAE), as authorities roll out stopgap measures to keep cargo moving despite regional disruptions.

Governments, businesses, and households must act quickly to reduce oil consumption as markets remain under strain, the International Energy Agency said, outlining a set of urgent measures to ease pressure on supply and prices.

Energy Secretary Sharon Garin said the Philippines has secured “safe and preferential access” through the Strait of Hormuz, a move aimed at reducing supply risks amid rising global tensions, but one that will not immediately lower pump prices.

Globe Telecom has partnered with a group of international firms to develop the Candle Cable System, a major undersea network aimed at improving internet connectivity across Southeast and East Asia.