Good morning,

Quick Thursday briefing before the next wave of headlines. Big political developments are unfolding, billions in transactions are under review, and markets are trying to stay steady. Add rising oil risks and shifting prices, and you get a week where everything feels like it is building toward something bigger.

Stay Sharp.

Big picture: April 22 brought major legal and political developments involving two prominent political families. The International Criminal Court rejected former president Rodrigo Duterte’s challenge to its jurisdiction, while impeachment proceedings against Vice President Sara Duterte continued at the House.

What’s happening: Lawmakers also received an Anti-Money Laundering Council report showing more than 600 flagged transactions worth about ₱6.7 billion involving accounts linked to Sara Duterte and her husband. In a separate case, former speaker Martin Romualdez was barred from leaving the country after the Sandiganbayan approved a precautionary hold departure order tied to an Ombudsman investigation into alleged kickbacks from flood control projects. Romualdez has denied the allegations.

Bottom line: Several high-profile legal and congressional proceedings are moving at the same time, increasing scrutiny on key political figures.

Oil prices rose even after the US and Iran extended their ceasefire, as tensions in the Middle East continue. Brent crude neared $100 while US oil passed $90. Attacks in the Strait of Hormuz and disrupted supply keep markets on edge, raising concerns about inflation and global economic growth.

Airfares Rise as Fuel Surcharge Hits Level 19

Flight costs increased after the Civil Aeronautics Board raised fuel surcharges to Level 19 for April 16 to 30, up from Level 8. Domestic fees now reach ₱1,834 and international up to ₱15,397. Rising global oil prices and Middle East tensions are driving costs, impacting travelers and airline pricing.

Power Bills to Drop in May After ₱14B Refund Order

Meralco customers will see lower electricity bills starting May after regulators ordered a ₱14 billion refund. A ₱0.2511 per kWh deduction will be applied monthly for one year. The move aims to offset rising energy costs and ease inflation pressure on households.

Finance Secretary Frederick Go urged American firms to invest in the Philippines, highlighting reforms and opportunities in semiconductors, energy, and infrastructure. Talks in Washington also covered supply chains and new industries like EVs. The move aims to boost jobs, attract capital, and strengthen long-term economic growth.

Kim Chiu celebrated her 36th birthday by giving free gas, meals, and groceries to about 600 jeepney and tricycle drivers, funded by proceeds from her recent closet sale. (Read more)

BINI performed at the GRAMMY Museum in Los Angeles, debuting “Blush,” singing covers, and engaging fans with humor and Q&A, highlighting Filipino talent after their Coachella debut. (Read More)

Alex Eala beat Anastasia Pavlyuchenkova 6-3, 6-3 to reach the Madrid Open second round, marking her third straight year advancing, and will face 19th seed Elise Mertens next. (Read more)

Big picture: The PSEi continued its slight rebound, closing at 6,018.7 on April 21, 2026, as easing global tensions helped improve sentiment. Lower oil prices, a firmer peso, and softer bond yields supported buying, especially in banks like MBT, BDO, and BPI, property names like ALI and SMPH, and transport names like CEB and MAC.

What’s happening: The move still lacks full conviction. AB Capital noted that foreign investors remained net sellers, suggesting participation is still selective and the rally remains vulnerable to external shifts. Cyclicals and rate-sensitive names led gains, while some defensive consumer stocks lagged, including CNPF, URC, and MONDE. Water utilities like MWC and MYNLD also remained firm.

Why it matters: The ceasefire may have reduced immediate oil spike risk, but inflation pressure has not disappeared. AB Capital said oil may still floor at $85 to $90 per barrel, with the full CPI impact likely building over the next 3 to 6 months.

Bottom line: This looks like an early, uneven rotation into cyclicals, not a broad market rerating yet. AB Capital remains cautious and favors companies with stronger earnings visibility and resilience, including BDO, BPI, ICT, PGOLD, CNPF, and MWC.


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.

Florida launched criminal probe into OpenAI and ChatGPT after deadly Florida State University shooting last year killed two, injured six, investigating claims chatbot gave gun advice; company denies any responsibility. (Read More)

Engineers at Northwestern University printed artificial neurons that communicate with living brain cells, generating lifelike signals to activate mouse brain tissue, advancing neurotechnology and potentially reducing energy use in AI. (Read more)

Chinese firms like X Square Robot are developing humanoid robots for household chores, testing cleaning tasks in homes, as companies including Xiaomi and Alibaba invest in advancing real world AI use. (Read more)

Cebu plans tech driven electric bus rollout using advanced e mobility systems with Global Electric Transport Philippines to improve transport efficiency, cut emissions, and address energy challenges. (Read more)

The National Irrigation Administration is adopting climate-smart agriculture, adjusting cropping calendars, using water-saving methods, and expanding solar irrigation projects to prepare for El Niño and La Niña impacts nationwide.

NASA unveiled the Roman Space Telescope, set to launch as early as September, to scan space, discover thousands of planets, and study dark matter and dark energy.

UP Marine Biologist Wins NAST Award For Sea Cucumber Study

A UP marine biologist won the 2026 NAST Environmental Science Award for research on sea cucumber genetics, helping improve fisheries management, conservation efforts, and aquaculture planning in the Philippines.

Invasive Finlayson’s Squirrels Spotted In Metro Manila

Finlayson’s squirrels have been spotted across Metro Manila, alarming experts as the invasive species spreads, threatens biodiversity, damages crops and infrastructure, and may carry diseases, prompting warnings from authorities.

🪪 LTO revoked 12 NCR driving schools for rule violations. The schools can no longer operate as accredited training centers. Full list on the link. (Read more)

💥 UP student leader and writer killed in Negros clash. Groups call for investigation, while military says casualties were linked to armed encounter. (Read more)

🏛️ Supreme Court orders Marcos to respond within 10 days to petition seeking disclosure of his medical records and fitness to lead. (Read more)

🚍 Cebu will pilot 50 electric buses in July, aiming to modernize transport, cut fuel costs, and reduce dependence on diesel. (Read more)

🏢 BuCor broke ground on a 60-hectare prison in Nueva Ecija, aiming to ease congestion and support jobs and local growth. (Read more)

Portuguese priest Guilherme Peixoto held a rave in Buenos Aires honoring Pope Francis, mixing electronic music with speeches, drawing thousands to celebrate faith, unity, and modern expressions of religion.

Gangotri Temple now requires visitors to drink cow urine mixture before entry, aiming to filter non believers, as officials say rule strengthens faith but critics call it exclusionary.

A hot air balloon carrying 13 people made an emergency landing in Riverside County backyard after wind died and fuel ran low, with no injuries or damage reported.

📝From ‘name withheld’ to topnotcher: PLE passer shares journey to becoming doctor. (Read more)

📝 California man arrested for allegedly replacing lego pieces with pasta before returns.(Watch here)

📝 Jollibee x Final Fantasy xiv collab drops, but Philippines left out. (Read more)

📝 18,300 passed UPCAT out of 147,000 takers. (Read more)

Wellness & Sanity