Petron Net Income Down 44% to P5.4 Billion Amid Middle East Conflict
Petron Corp., the Philippines' leading oil refiner and marketer, reported a 44% year-on-year drop in net income to P5.4 billion for the January-September period. The decline is attributed to the prolonged conflict in the Middle East, which impacted refinery operations and crude oil prices.
Read up to 3 eligible full articles per Japan day (JST) for free
Create a free account to open up to 3 eligible full articles per Japan calendar day (JST). Headlines and summaries remain available across ASEAN 7.
Related articles
- BSP Signals Rate Cuts Distant Amid Persistent Inflation
Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. indicated that while the economy may have begun recovering in the third quarter, interest rate cuts are likely still distant due to persistently high inflation expectations. GDP growth is anticipated, but price pressures are tempering monetary easing.
- Moody’s: PH Sustainable Bond Market to Grow on Infra, Energy Shift
Moody's Ratings forecasts growth in the Philippines' sustainable bond market, driven by infrastructure development and energy transition. Rising investor demand for strong governance, transparency, and clear commitments on fund usage underpins this outlook. The Philippines holds the third-largest market in Southeast Asia.
- PSEi ends week down, peso ends sideways
The Philippine Stock Exchange Index (PSEi) closed the week lower, while the Philippine peso traded sideways against major currencies, indicating market uncertainty.
- Peso Rebound Expected This Year? MUFG Predicts
MUFG Bank predicts the Philippine peso will rebound against the US dollar within the year. Future monetary policy and economic indicators are key to the peso's movement.