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Overseas news
US and Iranian officials failed to reach an agreement after holding their highest-level talks in decades. However, the parties signaled dialogue may continue despite tense discussions over issues including the Strait of Hormuz, Iran’s nuclear program, and sanctions.
US stock futures slipped following the unsuccessful US-Iran peace talks. Investors were likely concerned that a prolonged conflict may continue to push oil prices higher and cause further volatility in global markets.
Futures are contracts to buy or sell a commodity for a certain price at a specified date. Stock futures go down when prices are expected to drop, and the reverse is true when they climb.
Local developments
President Ferdinand Marcos Jr. approved the suspension of excise taxes on LPG and kerosene to ease household fuel costs amid rising global oil prices. Excise taxes on gasoline and diesel remain unchanged for now.
An excise tax is a business tax on the production, sale, or consumption of specific commodities. It applies to goods manufactured or produced in the Philippines or to goods imported for domestic sale or consumption or for any other disposition.
Additionally, the Philippines fell to 18th place out of 25 in Kearney’s 2026 Foreign Direct Investment (FDI) Confidence Index, dropping 2 spots from 2025.
This happened as weaker investor sentiment, structural challenges, and falling capital inflows continued to affect outlook. The index ranks emerging markets based on their potential to attract FDI in the next 3 years.
FDI is an important source of external financing for developing countries. It refers to a substantial stake in, or complete ownership of, a company or project by a foreign organization or government.
Further, the peso slid back to the P60.1-per-dollar level as the failed US-Iran peace talks pushed oil prices higher and boosted demand for the US dollar.
The dollar is seen as a “safe haven” asset and so it tends to be more attractive in times of uncertainty.
The global situation remains shaky, though there are no solid signals of what will happen next. You may want to stay cautious with your investing decisions in the meantime.
