Manolo Serapio Jr

Philippine President Ferdinand Marcos Jr. said he’s “horrified” to learn of an agreement between his predecessor, Rodrigo Duterte, and China that bars Manila from shipping construction materials to a military outpost in a disputed shoal in the South China Sea.

The Philippine peso’s current slump is unlikely to prompt the central bank to raise its key interest rate from a 17-year high at this time, according to Finance Secretary Ralph Recto.

The Philippines will halt in-person classes at public schools on Monday and Tuesday amid rising temperatures that reached a record in the capital Manila over the weekend.

Parts of the Philippines face potential disruption to electricity supplies as an intense heat wave fuels cooling demand and leaves power systems “overloaded,” according to President Ferdinand Marcos Jr.

The Philippines is looking to raise as much as $2 billion from a two-part dollar bond sale on Tuesday, its first trip to the international market this year, according to Finance Secretary Ralph Recto.

China may soon release audio of a purported phone call with a Philippine military official that Beijing claims is evidence of an agreement over disputed territory in the South China Sea, according to Chinese officials.

The audio recording of a purported phone call between a Chinese diplomat and a Philippine military official “should not be allowed to pass unsanctioned,” said the country’s national security adviser who sought the immediate deportation of all those involved.

Philippine President Ferdinand Marcos Jr. said inflation continues to be the country’s “greatest problem” brought on by price gains across the world that’s beyond the government’s control.

The Philippines suspended work in government offices and schools in the capital region on Wednesday as Typhoon Gaemi caused floods, disrupted flights and forced people to flee to safer grounds.

The Philippines has defended the presence of one of its vessels near a South China Sea shoal, saying the area is in its territory, despite Beijing’s claim that the ship “infringes” China’s sovereignty.