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World Economy Mar 27, 2026

Fuel Price Surge Amid Iran Crisis Leaves Manila Streets Empty

The ongoing crisis in the Strait of Hormuz has led to a surge in fuel prices, causing a significant…
Manila, Philippines, is experiencing a rare phenomenon - empty streets. For years, the city's transport congestion has been notorious, ranking worst globally in 2024, according to the TomTom traffic index. However, a 26km drive from the Manila airport to the Quezon City Hall now takes just 45 minutes, instead of the typical two hours, according to Google Maps.The reason behind this sudden change is the surge in fuel prices following the United States and Israel's joint military operation against Iran almost a month ago. This has resulted in a significant decrease in vehicular traffic, with fewer buses, jeepneys, and ride-hailing vehicles plying the streets.The impact is being felt by vendors and transport workers, such as Ruben, a 27-year-old parking attendant, who earned less than half his usual collection on a typical Wednesday. Emily Ruado, a 59-year-old paper napkin vendor, also reported a decline in her daily income from $10 to $5.The financial difficulties faced by individuals like Ruben and Emily reflect a bigger headache for the Philippines, as worries of a sharp increase in prices of basic goods and sudden loss of employment for thousands of people could quickly lead to a stagnating economy. The country's GDP growth rate of 5 percent is now becoming more unlikely.The surge in fuel prices has also exposed the acute insufficiency of Manila's limited railway network, with commuters swelling during rush hour at metro stations. This highlights the need for improved infrastructure and the multibillion-dollar infrastructure corruption scandal still roiling the country.
#philippines #manila #economy
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Politics Mar 25, 2026

US Aggression in Iran Sparks Global Economic Chaos and Exposes Shift in US Role

The US conflict with Iran has triggered significant economic disruption worldwide, particularly in …
The ongoing conflict in Iran has sent shockwaves through global energy markets, with economies in Asia being hit particularly hard. The closure of the Strait of Hormuz, a critical passage for oil and gas shipments, has led to a 90% collapse in traffic through its waters. This has resulted in energy prices surging, affecting countries such as India, Nepal, and the Philippines.India has redirected liquefied gas supplies to households, limiting them to the plastics industry, while Nepal has rationed gas and the Philippines has trimmed the government workweek to four days. Bangladesh has closed universities and rationed fuel, highlighting the widespread impact of the conflict.The US economy has shown relative resilience, with the S&P; 500 index losing only 5% since the start of the conflict. This is attributed to the country's abundance of domestic natural gas, which satisfies about 36% of its energy needs and insulates it from international price fluctuations.However, this has led to accusations that the US is recklessly spreading havoc globally while suffering relatively little harm itself. The tariffs imposed by the US have also had far-reaching consequences, with economists concluding that US consumers and businesses are paying the majority of the costs.The International Monetary Fund has revised its growth forecasts, noting that the US economy has emerged largely unscathed, while prospects for economic growth in other countries have weakened. The World Trade Organization has warned that persistently high energy prices will slow merchandise trade growth and have a lopsided impact on growth, with North America potentially seeing a boost, while Europe and Asia are likely to be negatively affected.The conflict has also disrupted the oil and gas economy, with countries like Bangladesh, India, and Pakistan facing a drop in remittances from their citizens working in Gulf countries. Furthermore, the environmental impact of the conflict has been significant, with interest in coal being reinvigorated in Asia as a result of the energy crisis.The US's actions have raised concerns about its reliability as a partner in maintaining international stability, with erstwhile allies forced to accept that Trump's America is now a source of global uncertainty. The US's belligerence is unlikely to end soon, with tens of millions of Americans motivated by contempt for the rest of the world and a desire to assert US dominance.
#United States #Iran #Strait of Hormuz
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Sports Mar 24, 2026

Eritrea Ends 18-Year AFCON Isolation with Eswatini Qualifier

Eritrea will end its 18-year isolation from the Africa Cup of Nations by hosting Eswatini in a qual…
Eritrea's national football team, popularly known as the Red Sea Camels, will host Eswatini, formerly known as Swaziland, in the Moroccan city of Meknes on Wednesday in the first leg of their 2027 Africa Cup of Nations qualifier. This marks the end of an 18-year absence from the premier African national team competition.The match at the 20,000-seat Stade d’Honneur was moved from East to North Africa due to Eritrea's lack of an international-standard venue. Eswatini will stage the return match on March 31, with the aggregate winners advancing to the group stage.Eritrea has not played in the Cup of Nations since a 2008 qualifier against Swaziland. The reason for their absence has not been officially explained, but it is widely believed that many players sought asylum while playing abroad, citing political repression and lengthy military service.The Eritrean National Football Federation President, Paulos Andemariam, announced that the isolation would end, saying, “After positive discussions with our government, we have registered to play in the 2027 AFCON, and I believe we will have a strong team, including many Eritreans playing outside Africa.”The Eritrean squad includes players from various countries, such as Australia, Egypt, England, Germany, the Netherlands, Norway, the Philippines, and Sweden. Siem Eyob-Abraha, with English second-tier club Sheffield United, and Egypt-based striker Ali Sulieman are expected to start.Eritrea's lack of match practice could be a disadvantage, as their last competitive international was a World Cup qualifying defeat in Namibia seven years ago. FIFA has omitted Eritrea from the national team rankings, while Eswatini are 46th in Africa and 159th in the world.
#eritrea #eswatini #afcon
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Sports Mar 23, 2026

Japan Clinch Third Women's Asian Cup Title with 1-0 Win Over Australia

Japan won their third Women's Asian Cup title by defeating Australia 1-0 in the final, with Maika H…
Japan has emerged victorious in the Women's Asian Cup, claiming their third title in the tournament. The decisive match against Australia ended with a 1-0 win for Japan, thanks to a stunning long-range goal by Maika Hamano in the 17th minute.The match, held at Stadium Australia in Sydney, was attended by a record-breaking 74,357 fans, marking a significant milestone in the growth of women's football. This victory adds to Japan's previous titles in 2014 and 2018, both of which were also won against Australia with a 1-0 scoreline.The tournament saw a substantial increase in attendance, with over 350,000 fans attending matches, approximately six times the previous record set in 2010. The Asian Cup also served as a qualifier for the 2026 World Cup in Brazil, with six teams—Australia, Japan, South Korea, China, North Korea, and the Philippines—securing their spots.Japan's team, featuring several English-based players, demonstrated exceptional skill throughout the tournament, scoring 29 goals and conceding only one across six games. Despite a strong performance from Australia, Japan's solid defense and fluid gameplay secured their victory.The final match was intense, with both teams creating scoring opportunities. However, Japan's defense held strong, particularly in the final minutes, as Alanna Kennedy's late attempt was thwarted, ensuring Japan's rock-solid defense preserved the win.
#japan #australia #list
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