Overseas news
The global trade war intensified on Monday as US President Donald Trump threatened higher tariffs on China while the European Union proposed its own counter-tariffs.
The Trump administration’s new tariffs have been causing uncertainty across the globe, impacting financial markets due to their potential effects on companies and consumers.
Oil prices fell by about 3% on Monday to reach their lowest since 2021. Declines also happened in metals and coffee markets as escalating US-China trade tensions raised concerns over demand for such products.
China is the world's largest oil importer and so its economic condition can significantly impact the demand for oil and in turn, affect its price.
Local developments
Local stocks plunged to their lowest level since October 2022, with the PSEi dropping 4.29% to 5,822.85 and the All Shares index falling 4.02% to 3,496.77. This happened as global trade tensions intensified following new US tariffs.
Meanwhile, the Department of Tourism (DoT) expects higher tourism revenue this year, building on the P760 billion generated in 2024 and boosted by a new tax refund policy for tourists.
An increase in tourism revenue can help boost various local economies and may also contribute to the country’s economic growth.
Additionally, the Department of Transportation (DoTr) plans to tap the private sector for managing and modernizing up to 20 airports through public-private partnerships (PPPs), expanding from an initial target of 9 airports.
A PPP is a contractual agreement between the government and a private firm to finance, design, implement, and operate infrastructure facilities and services that were traditionally provided by the public sector.
With much uncertainty in the news, it might be best to remain cautious with your investing decisions for now. You may also choose to maintain some liquidity so you can act on opportunities whenever appropriate.
