How PSEi member stocks performed — March 17, 2026
Here’s a quick glance at how PSEi stocks fared on Tuesday, March 17, 2026.
Palace: No need for state of emergency yet
By Chloe Mari A. Hufana, Reporter
THE Philippines does not need to declare a state of national emergency to take over the oil industry as the situation remains “in control,” the Presidential Palace said on Tuesday, amid rising fuel prices driven by the Middle East crisis.
“We are not yet in that situation,” Palace Press Officer Clarissa A. Castro said Filipino in a livestreamed press briefing.
The government, through the Department of Energy (DoE) under Secretary Sharon S. Garin, maintains a constant communication with oil companies and their leaders, she noted, adding Congress’ move to draft a measure that grants President Ferdinand R. Marcos, Jr.’s emergency powers to reduce or suspend excise tax on fuel.
“Our only request is that, given the current circumstances, let us refrain from activities such as fear‑mongering, which only add to the anxiety of our people,” Ms. Castro also said.
“The President and the government remain in control of the situation.”
Ms. Castro’s comments followed calls for Mr. Marcos to declare a state of national emergency for the government to temporarily take over the oil industry to regulate fuel prices.
House Deputy Speaker Raymond Democrito C. Mendoza earlier this week said the President can invoke Section 14(e) of Republic Act No. 8479, which states that “in times of national emergencies, when the public interest so requires, the DoE may, during the emergency and under reasonable terms prescribed by it temporarily takeover or direct the operation of any person or entity engaged in the industry.”
The lawmaker said that while the conflict is thousands of kilometers away, it becomes a national emergency when it begins dictating how Filipino families eat, ride and pay for their needs.
Asked about the Palace’s position on calls to repeal Republic Act No. 8479 or the Oil Deregulation Law, which liberalized the oil industry, Ms. Castro said it is up to Congress.
“It is up to Congress to decide what they think or what they see as good for our country, and if they can show or influence our President through their drafting of laws, all that will benefit the country, the President will not oppose it,” she added.
Ms. Garin earlier said the agency has no authority to set price ceilings on fuel prices due to the said law but added she is in favor of revisiting the law to a certain extent.
Noel M. Baga, co-convenor of the Center for Energy Research and Policy think tank, said the Philippine government already has sufficient legal authority to shield consumers from surging fuel prices during crises, pushing back against calls for more drastic state intervention in the oil industry.
Existing laws such as the Price Act of the Philippines and the Philippine Disaster Risk Reduction and Management Act allow authorities to impose price ceilings on petroleum products during a declared national emergency, he said.
These powers, he added, are not curtailed by the Oil Deregulation Law, countering claims that government intervention would violate the country’s liberalized downstream oil market framework.
“The legal tools to protect consumers are already there,” he said via Facebook Messenger. “There is no need for an industry takeover when these powers already exist.”
Instead, the constraint lies in execution. Deploying price controls would require stronger political resolve as global oil volatility feeds into domestic inflation, disproportionately affecting low- and middle-income households.
“Every peso added to fuel prices is a peso taken from Filipino families,” he said.
Over the longer term, structural reforms remain key. Expanding domestic renewable energy capacity would reduce the Philippines’ exposure to external price shocks and lessen dependence on imported fuel, he said, providing a more durable solution than short-term market interventions.
DND may rethink fighter jets plan over funding concerns
DEFENSE SECRETARY Gilberto C. Teodoro, Jr. on Tuesday said he would hold off on acquiring coveted multi-role fighter jets if funding falls short, stressing he would prefer buying enough aircraft to exert credible deterrence than settle for a few within the budget.
He said the government should buy a minimum of 40 advanced fighter jets to shore up air power, and he would proceed with the purchase if enough funding for those planes is provided.
“We will not allow buying only a few jets,” he told reporters in Filipino, based on a recording shared by the Department of National Defense (DND). “There is a minimum impact quantity when you order.”
“We cannot buy a few and then purchase more the following year, because the price will balloon and triple,” he added.
The Philippines has been scouting for multi-role combat jets as part of efforts to boost its inventory of air force planes, which mainly consist of turboprops, and as Manila faces a dispute with Beijing in the South China Sea.
China claims nearly all of the South China Sea via a U-shaped, 1940s nine-dash line map that overlaps with the exclusive waters of the Philippines, resulting in clashes at disputed maritime features as both the nations uphold their claims in the resource-rich waters.
“The force size we are asking for is 40 jets,” Mr. Teodoro said. “But still, that is not enough.”
Washington last year greenlit the Philippines’ request for 20 units of F-16 fighters from Lockheed Martin Corp., according to a Defense Security Cooperation Agency notice in April.
The proposed $5.6-billion arms deal includes missiles, bombs, radar units, backup jet engines and engineering and technical support services for the planes. Mr. Teodoro in 2024 said the government is allotting as much as $6.9 billion for the acquisition of 40 advanced military jets.
The Philippines has launched a $35-billion military modernization program aimed at bolstering its defense capabilities in the next decade, buying warships from South Korea, a missile system from India, all while letting a US missile battery that could hit the Chinese mainland stay in the country.
Manila is also seeking to deepen its security ties with other nations by forging agreements letting foreign militaries enter the country.
Mr. Teodoro also said the Philippines cannot escort ships through the Strait of Hormuz, as US President Donald J. Trump presses its allies to provide military support to open the crucial chokepoint.
“We don’t have the capability to escort,” he said, adding that authorities are doing “everything” to help Filipinos affected by the Iran war. — Kenneth Christiane L. Basilio
DBM supports 2% cap on unprogrammed funds
THE Department of Budget and Management (DBM) on Tuesday said that it is supportive of the Senate’s move to lower the cap on unprogrammed appropriations to 2% of the national budget.
Senate Bill No. 1358 proposes a cap of 2% and allows Congress to allocate unprogrammed funds only to cover the requirements of priority projects or contingencies, as well as appropriations for foreign-assisted projects.
Budget Undersecretary Janet B. Abuel said the 2% limit is based on the average allocation of standby funds over the years.
“The 2% is based on the average over the years and we are looking for a basis but per our information, 4% has been internationally acceptable,” she told a joint Senate panel.
Critics have been calling out unprogrammed appropriations as another form of discretionary funding prone to abuse by lawmakers and officials, which prompted Congress to lower standby funds last year.
Acting Budget Secretary Rolando U. Toledo had earlier said the department is looking at lowering it to as low as 3%.
“We will leave that to the wisdom of Congress, but 2% or 3% would be okay with the DBM,” Ms. Abuel said. “We are supporting to limit to the barest minimum the unprogrammed appropriations.”
Former Budget Secretary Amenah F. Pangandaman, last year, proposed setting a 5% ceiling on unprogrammed appropriations to provide flexibility for unforeseen spending. However, Executive Secretary Ralph G. Recto, who formerly led the Finance department, criticized this as “excessive” and instead recommended limiting the cap to 2% of the national budget.
Senator Panfilo “Ping” M. Lacson said that the DBM must find a balance over limiting standby funding as it risks affecting financial flexibility in the government.
“Try to find a balance to this unintended consequence because there is a limitation to the financial flexibility of the executive. There may be cases where funding needs to be realigned by the Executive,” he said.
The Senate Finance Committee began deliberation of measures to modernize the country’s budget process, following a year marked by a massive corruption scandal which prompted the government to update its deliberation process.
Measures to update the country’s budget process has been included in President Ferdinand R. Marcos, Jr.’s common legislative agenda for the 20th Congress. — Adrian H. Halili
Transport infra, lower travel costs seen as next Tourism chief’s priorities
By Beatriz Marie D. Cruz, Reporter
REFORMS to reduce the cost of travel and improve connectivity infrastructure should top the to-do list of the next secretary of Tourism, analysts said over the weekend.
John Paolo R. Rivera, a senior research fellow at the Philippine Institute for Development Studies, said the upcoming leadership should address challenges like high travel costs and capacity constraints in some local destinations.
“The Department of Tourism (DoT) will need to address several structural issues — including improvements to airport and transport infrastructure; expanding flight connectivity; strengthening destination management; and enhancing tourism workforce skills,” he said in a Viber message.
To boost visitor demand and spending, Mr. Rivera also cited the need to develop niche segments in the tourism industry, including eco-tourism, cruise tourism, and cultural tourism.
President Ferdinand R. Marcos, Jr. last week removed Ma. Christina G. Frasco as Tourism secretary. She was reassigned as the Presidential Adviser for Sustainable and Resilient Communities.
“The next secretary of Tourism inherits a mandate more demanding than any predecessor,” Alfred Lay, director for hotels, tourism, and leisure at Leechiu Property Consultants, said in a Viber message.
“We are years behind on infrastructure, and we have yet to fully articulate what makes this country irreplaceable as a destination,” he said.
Joey Roi H. Bondoc, director and head of research at Colliers Philippines, said other forms of tourism-related infrastructure that the DoT should invest in are roads, bridges, help desks, and even proper comfort rooms.
“I think PPPs (public-private partnerships) will really be crucial at this point, especially for infrastructure development that will benefit the tourism sector,” he said via telephone.
The DoT can invest in promoting the Philippines on foreign broadcasting channels to attract more international tourists, he said.
Rogelio Alicor L. Panao, an associate professor at the University of the Philippines Department of Political Science, said the country must align its tourism promotions on its unique selling points.
“The Philippines has equally rich cultural and natural assets, yet it has failed to translate them into a coherent global tourism narrative,” he said in an e-mail.
Mr. Panao cited Korea’s hallyu, which leveraged Korean culture though music, television, and food. Likewise, Taiwan and Vietnam have positioned themselves as global travel destinations through film and heritage branding.
Tourism arrivals reached 6.48 million in 2025, according to the Bureau of Immigration. However, this remains below neighboring Southeast Asian markets such as Malaysia (38.2 million), Thailand (32.9 million), and Vietnam (21.1 million).
“Maybe appointing a technocratic leader or a career tourism professional could potentially shift the focus toward institutional continuity and long-term sectoral strategy,” Mr. Panao said.
VP failed to address accusations
LAWMAKERS on Tuesday criticized Vice-President (VP) Sara Duterte-Carpio’s defense to the impeachment charges against her, saying her replies sidestepped the accusations instead of offering substantive answers.
Ms. Duterte wasted the chance to reject the allegations fueling the impeachment drive against her, with her reply reading more like a plea for a congressional panel to dismiss the complaints than a direct defense, Batangas Rep. Gerville R. Luistro, who heads the House Justice Committee, said.
“It looks like a motion to dismiss,” she told DZMM radio in mixed English and Filipino. “It is clear in our impeachment rules that a motion to dismiss is a prohibited pleading in these proceedings.”
“It was a wasted opportunity to address all the alleged offenses and grounds,” she added.
Ms. Duterte’s legal team spokesman Michael T. Poa did not immediately reply to a Viber message seeking comment.
On Monday, Ms. Duterte asked the Justice committee to dismiss the impeachment charges against her, saying the allegations lacked evidence and were based on speculation. The cases, she said, lacked statements of “ultimate facts” and “recycle the same accusations” thrown against her in last year’s impeachment push.
“Considering that the answer is not responsive to the complaint, it appears the allegations by the complaints remain unrebutted,” Ms. Luistro said.
The Justice committee early this month found two of the four complaints against Ms. Duterte “sufficient in substance,” moving the bid to remove the Vice-President to the next stage of the process that will determine whether the charges have merit and should be discussed further.
The Vice-President faces a range of accusations, including claims she misused hundreds of millions of pesos in secret funds under the Office of the Vice-President and the Education department during her time as its secretary.
The complaints also include accusations she amassed wealth disproportionate to her income, efforts to destabilize the government and plotting to assassinate President Ferdinand R. Marcos, Jr., his wife and former Speaker Ferdinand Martin G. Romualdez, charges which she has denied.
Also on Tuesday, a group of clergymen and civil society representatives waived their right to reply to Ms. Duterte’s answer to the allegations, saying she “conspicuously failed to specifically deny each and every material allegation.”
“Despite the gravity of the accusations against her, and the unmistakable public character of the funds she is charged of misappropriating, respondent ultimately said nothing to defend herself,” they said in a three-page document shared with reporters.
Ms. Duterte failed to “deny the material allegations” to the impeachment charges, Nathaniel G. Cabrera, who filed a complaint against the Vice-President, said in a two-page response. He also waived his right to reply to Ms. Duterte’s claims.
“The answer does not squarely traverse the ultimate facts alleged and effectively amounts to a non-answer,” he said.
Ms. Luistro said the Justice committee is set to take up on Wednesday, “preliminary matters” on the impeachment proceedings, as the 39-member body eyes holding hearings even during the six-week congressional break.
“We are inclined already to really proceed to hearing the impeachment complaints during recess,” she said. — Kenneth Christiane L. Basilio
Cabinet appointments questioned
A SENATOR on Tuesday has called on the administration questioned the composition of the Cabinet, calling out President Ferdinand R. Marcos, Jr. for appointing 40% of the Cabinet members in acting capacity.
“Despite our recognition of the President’s power to appoint acting secretaries, it would be better to have only one or two secretaries in acting capacity, not half of the cabinet,” Senator Maria Imelda “Imee” R. Marcos said in an ambush interview on Tuesday.
In her manifestation during a plenary session, Ms. Marcos named 18 Cabinet-level members whose names have yet to be submitted by the President to the Commission on Appointments for appointment consent.
Among the acting officials mentioned by Ms. Marcos were Executive Secretary Ralph G. Recto, Presidential Communications Office Secretary Dave M. Gomez, Public Works Secretary Vivencio B. Dizon, Transportation Secretary Giovanni Z. Lopez, Justice Secretary Fredderick A. Vida, Finance Secretary Frederick D. Go, Budget Secretary Rolando U. Toledo, and Environment Secretary Juan Miguel T. Cuna, among others.
Aside from the secretaries, Ms. Marcos also noted that six board members of the Bases Conversion, and Development Authority have been appointed for more than one year, with some appointed since 2023.
“Temporary designations are not meant to extend indefinitely and, as a rule, should merely persist from six months to a year. Some of these acting appointments are now nearing that period; some are in great excess of that period,” Ms. Marcos added, citing the Executive Order No. 292 or the Administrative Code of 1987. — Kaela Patricia B. Gabriel
Tricycle drivers get P5,000 aid
THE Philippines on Tuesday started rolling out cash relief assistance for tricycle drivers in the capital region, one of the country’s most used modes of transportation, to soften the impact of the rising fuel costs amid the Middle East crisis.
About 139,000 tricycle drivers in Metro Manila received a P5,000 subsidy from the government. Jeepneys, ride-hailing cars and motorcycles, taxis and buses in the capital region will follow in the coming weeks, encompassing almost 400,000 public transport drivers.
The government will roll out the assistance nationwide by April, as lists of beneficiaries are still being ironed out.
“This is just the beginning of the distribution. This is something that we have to do because of the sudden increase in oil prices,” President Ferdinand R. Marcos, Jr. told reporters on Tuesday.
The conflict in the Middle East forced local retailers to hike prices for two consecutive weeks, with motorists bracing for as much as P115 per liter of diesel.
Mr. Marcos assured Filipinos that the government is closely monitoring the conflict to ensure uninterrupted livelihood.
Executive Secretary Ralph G. Recto said the government will also launch free rides for commuters as the minimum fare for public utility vehicles rose on Tuesday.
“There will be various modalities. We can deploy government-owned vehicles, for example. Or even contract buses and designate these as fare-free rides,” he said in a statement. — Chloe Mari A. Hufana
More opportunities for women pushed
PRESIDENT Ferdinand R. Marcos, Jr. on Tuesday vowed to broaden opportunities for women in government and the society as the Philippines celebrates International Women’s Month this March.
Speaking before the oath taking of the newly elected officers of the Association of Women Legislators Foundation, Inc. of the 20th Congress in Malacañang, Mr. Marcos noted the government’s moves to promote programs advancing the welfare and empowerment of Filipino women.
“This administration has vowed to broaden opportunities for women — ensuring that you are heard, that you are respected, and that you are empowered in society,” he said. “Parallel with this, we continue to intensify the implementation of programs for victims of violence against women and children.”
The government is promoting education and employment opportunities and ensuring greater representation in leadership and governance.
Initiatives also include the Department of Social Welfare and Development’s Sustainable Livelihood Program, which grants capital assistance, skills training and employment.
The administration is also relying on the Kapit-Bisig Laban sa Kahirapan-Comprehensive and Integrated Delivery of Social Services, which improves access to government services and participation in decision-making and anti-poverty programs.
Mr. Marcos also cited the Pag-Abot Program, which assists vulnerable and disadvantaged women on the streets. — Chloe Mari A. Hufana
PHL to get P18.92-M education for peace grant from Japan
THE Embassy of Japan has inked an P18.92-million grant contract with a Japanese nongovernmental organization (NGO) to fund replacement of dilapidated classrooms and training for teachers on intercultural understanding in Mindanao.
The grant, signed by Japanese Ambassador to the Philippines Endo Kazuya and NGO ChildFund Japan, aims to improve understanding of cultures and promote regional peace through the project “Promoting Peace Education and Enhancing Learning Environment for Coexistence in Barangay Siguel.”
In a statement on Tuesday, the embassy said Barangay Siguel in General Santos City has been chosen due to the diverse ethnicities and cultures of its residents, making it a preferable area for peace education.
“Japan believes that these projects will not only strengthen the friendship between the peoples of the Philippines and Japan but also bolster the existing strategic partnership between the two countries,” it said.
The grant will also cover installation of sanitation facilities at the chosen public school, which could benefit about 1,577 students.
An estimated P780-million grant has so far been provided by Japan to the Philippines since 2002 across 69 projects under the Grant Assistance for Japanese NGO Projects.
Japan recently garnered the highest level of international trust from Filipinos based on a December 2025 survey by OCTA research.
The survey has shown that 79% of Filipinos trust Japan and 70% find its relations with the Philippines as “very good,” which the polling body has attributed to Japan’s involvement in the country’s development across sectors including infrastructure.
The Philippines and Japan are set to mark 70 years of friendship this year. — Kaela Patricia B. Gabriel
Protection sought for digital platform workers
DIGITAL PLATFORM WORKERS have formed a national association to demand labor rights and protections amid soaring fuel costs and stagnant wages across the country.
The new organization, DigitALL Workers Pilipinas, was established on Sunday in Quezon City to represent workers in the delivery, ride-hailing, and virtual assistance sectors, the Federation of Free Workers (FFW) said in a statement on Tuesday.
The FFW told BusinessWorld that the group currently counts over 350 members, with numbers expected to rise as they consolidate workers from major platforms including Lazada, Grab, and Angkas.
This organizational milestone follows a landmark December 2025 National Labor Relations Commission decision that granted regularization to 131 Ninja Van riders, according to the group.
“Digital workers keep goods moving, passengers mobile, and households connected, yet many remain excluded from basic labor and social protections,” said FFW President Jose Sonny G. Matula.
“It is urgent that President Ferdinand Marcos, Jr. himself meets trade unions, including organizations of digital workers soon as the seriousness of the economic crisis we face merits presidential action based on what workers are experiencing on the ground,” he added.
The federation added that the sector is uniquely vulnerable to the current Middle East crisis, as delivery riders and virtual assistants personally shoulder the rising costs of fuel and electricity without subsidies from platform owners.
The association elected Dick P. Pacioles of the Ninja Van Riders Union as its founding president. — Erika Mae P. Sinaking
75 more Filipinos return from Middle East
SEVENTY-FIVE more Filipinos from the Middle East are expected to arrive in the Philippines on Tuesday, the Overseas Workers Welfare Administration (OWWA) said.
OWWA Administrator Patricia Yvonne M. Caunan said the 75 Filipinos across six flights are expected to arrive on March 17, including the second batch from Bahrain and the first batch from Kuwait.
The Department of Migrant Workers (DMW) and OWWA use both chartered and commercial flights to assist overseas Filipinos in the Middle East who would like to return to the Philippines.
“Both the Department of Migrant Workers and OWWA are also preparing for the next set of charter flights. I can speak on the part of OWWA when it comes to the charter flights, we are expecting Filipinos from Bahrain, Kuwait, and Qatar,” Ms. Caunan said in a mix of Filipino and English in a livestreamed press briefing.
Ms. Caunan added that the second batch of repatriated Filipinos from Israel will also join the next set of chartered flights.
OWWA expects the total number of repatriated Filipinos to climb to 2,000 by next week, based on repatriation requests they received.
Meanwhile, Migrant Workers Secretary Hans Leo J. Cacdac said a total of 7,255 Filipinos have been assisted by the government through provision of basic needs assistance, temporary accommodation, and transport.
The repatriation is funded through the DMW’s P2-billion AKSYON fund and OWWA’s P1.2-billion emergency repatriation fund as part of the government’s measures to ensure the safety of Filipinos in the Middle East following the US’ attacks on Iran on Feb. 28. — Kaela Patricia B. Gabriel