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Philippines Secures Safe Passage for Vessels in Strait of Hormuz

Philippines Secures Safe Passage for Vessels in Strait of Hormuz

The Department of Foreign Affairs (DFA) of the Philippines has confirmed that Philippine-flagged vessels, energy shipments, and Filipino seafarers will have safe and unhindered passage through the Strait of Hormuz. This assurance comes amid heightened tensions in the Middle East that have created disruptions in global oil supply, influencing a spike in oil prices worldwide. Read more about Philippines Secures Safe Passage for Vessels in Strait of Hormuz

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Philippine Peso Fell to a Distressing Threshold on Thursday, Closing at 60.1 to the U.S. Dollar

Philippine Peso Fell to a Distressing Threshold on Thursday, Closing at 60.1 to the U.S. Dollar

The Philippine peso fell to a distressing threshold on Thursday, closing at 60.1 to the U.S. dollar amid surging oil prices and fears of escalating conflict in the Middle East. This marks a significant decline, as the currency opened at 59.9, before witnessing a sharp drop that included an intraday low of 60.4, which had Read more about Philippine Peso Fell to a Distressing Threshold on Thursday, Closing at 60.1 to the U.S. Dollar

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