Good morning.

Today’s issue has defense spending, power bill politics, market relief, and climate numbers nobody wants to frame. The U.S. cleared a possible Bell 505 helicopter sale to the Philippines, DOE wants caution on VAT cuts, PSEi bounced back, and scientists say CO2 just hit another record.

Stay Sharp.

Big picture: The U.S. has approved a possible $150 million, or about ₱9.2 billion, sale of Bell 505 Jet Ranger X helicopters and related equipment to the Philippines. The deal would go through the Foreign Military Sales program, but approval does not mean a final purchase has been signed.

What’s inside: The package includes helicopters, spare parts, flight simulators, rotor blades, pilot training for 22 personnel, maintenance training for six students, and logistics support for five years.

Why it matters: These are light helicopters, usually used for training and utility missions. Washington says the sale would help the Philippines close rotary-wing training gaps and prepare pilots for more advanced aircraft amid broader military modernization.

The Department of Energy urges caution on removing VAT from electricity and fuel, warning benefits may not fully reach consumers. Due to the complex pass-through tax system, savings could be diluted along the supply chain, prompting calls for careful review before implementing policy changes.

PSEi Rebounds as Mideast Tensions Ease

The Philippine Stock Exchange Index rose 1.17 percent as easing Middle East tensions boosted investor confidence. Strong global cues and continued foreign buying lifted sentiment, despite lingering concerns over inflation and growth. Mining and oil stocks led gains, while banks lagged, reflecting cautious optimism in the market.

Rising Fuel Costs Trigger Job Losses

Higher fuel prices linked to Middle East tensions cut 350,000 Philippine jobs in March, hitting fisherfolk and domestic workers hardest. Many fishers stayed ashore due to costs, while households reduced help. Despite slightly improved unemployment figures, risks from weak business sentiment and slowing hiring persist.

Philippine inflation surged to 7.2 percent in April, driven by soaring fuel and food costs, pressuring the central bank to consider larger interest rate hikes. Analysts warn prolonged oil shocks could worsen expectations, weaken the peso, and slow growth as authorities balance price stability with economic recovery.

Actress Lovi Poe will star in international thriller Ignition with Maisie Williams and Rory Kinnear, set for Cannes debut this May, marking a major global film project for the Filipino actress. (Read more)

Jessica Sanchez will hold a concert on May 16 at Araneta Coliseum with guests Vice Ganda, Regine Velasquez, Gary Valenciano, Martin Nievera, Morissette, James Reid, and Darren Espanto. (Read More)

Alex Eala defeated Magdalena Frech 6-0, 3-6, 6-4 in the Italian Open Round of 128 in Rome, overcoming a third set scare to advance and set up a match against Xinyu Wang. (Read more)

Big picture: ICTSI started 2026 strong. AB Capital reported recurring net income up 29% year-on-year to $308 million, while revenue also rose 29% to $961 million. Throughput grew 18% to 4.08 million TEUs, supported by volume and yield expansion.

By the numbers: EBITDA increased 26% to $618 million, with margins at 64%. Operating costs rose 40%, but AB Capital said underlying cost growth normalizes to 16% when adjusted for new operations. The report links expansion to new capacity in Durban and Batam, plus better use of existing assets.

What’s next: AB Capital forecasts FY26 net income of $1.06 billion and keeps an Outperform rating with a ₱790 target price. Durban is the key swing factor, while risks include weaker global trade, protectionism, regulatory disputes, fuel costs, and delays in port expansions.

In collaboration with AB Capital Securities. This section is for informational purposes only and does not constitute investment advice. Please conduct your own research or consult a licensed professional before making investment decisions.

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Robot Passenger Delays California Flight

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MIT Revives 3D Shape-Shifting Zipper Design

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DOH: Filipino Seafarers on MVHondius Free of Hantavirus Signs

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CO2 Levels Hit Record High as Mauna Loa Observatory Faces Budget Cut Risk

Carbon dioxide in the atmosphere reached an average of about 431 parts per million in April, a new record reported by NOAA’s Mauna Loa Observatory in Hawaii, which may face funding cuts under a proposed 2027 budget.

Singing Mice Use Inflatable Throat Sacs to Produce Songs

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Shortcut to Mars Could Cut Travel Time to Five Months, Study Suggests

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📉Philippine government debt rose to a record ₱18.49 trillion in March due to peso depreciation and increased bond issuance. (Read more)

🏛️Around 30 NUP lawmakers support VP Sara Duterte impeachment, with House bloc votes possibly reaching up to 180 total.(Read more)

England and Wales have removed laws that allowed women to be prosecuted for abortion, following changes to the Crime and Policing Bill, while maintaining existing medical time limits and continuing protections for doctors and patients.

South African authorities airlifted and euthanized a large crocodile along the Komati River after a missing 59-year-old businessman was suspected to have been attacked, with human remains later found in the animal’s digestive system.

An investigation in Kenya found an AI healthcare system overcharging poor households while underestimating richer ones, affecting millions under President William Ruto’s reform. Critics say it is opaque, unfair, and limiting access to care.

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