Philippine central bank Governor Eli Remolona said monetary authorities will have to react aggressively to avoid falling behind the curve in taming price pressures spurred by the Iran war. “This is a big supply shock, and a persistent supply shock,” Remolona said in an interview with local media One News aired on Friday. “We have to react aggressively in this kind of situation.” The Bangko Sentral...
Philippine central bank Governor Eli Remolona said monetary authorities will have to react aggressively to avoid falling behind the curve in taming price pressures spurred by the Iran war. “This is a big supply shock, and a persistent supply shock,” Remolona said in an interview with local media One News aired on Friday. “We have to react aggressively in this kind of situation.” The Bangko Sentral ng Pilipinas chief said the inflationary impact of the global oil crunch has quickly caused price increases in food and transport, which the quarter-point hike in the policy rate last month sought to address early on. Monetary authorities are considering raising the rate before the next policy meeting on June 18, he said. Remolona said they may also wait until the release of the latest inflation data on June 5 before making any decision on monetary policy. “What we worry about is a policy mistake that leads to a de-anchoring of inflation expectations, which would tend to happen if we act too late. So that’s why we are trying to stay ahead of the curve,” the BSP chief said. Remolona’s comments underscore how policymakers across the world have turned far more hawkish as they contend with a prolonged conflict in the Middle East that risks further stoking inflation. The governor had earlier said that he preferred a series of modest rate hikes to avoid disrupting the Philippines’ economic recovery. Bank Indonesia earlier this week surprised with a half-point rate hike to intensify its currency defense, while warning of further inflationary risk from rising commodity prices. Majority of Federal Reserve officials have also warned the US central bank would likely need to consider raising rates if inflation continued to run persistently above target. Remolona’s latest tone suggests the BSP will opt for a rate hike of at least 50 basis points in June, according to Emilio Neri Jr. , lead economist at the Bank of the Philippine Islands. “If May inflation prints above 8%, the sequencin...
Getty Images Small- to mid-cap pharma stocks offer distinctive opportunities for contrarian investors able to look beyond short-term volatility and identify undervalued stocks with strong fundamental potential. In our view, Ironwood Pharmaceuticals, Inc. ( IRWD ), despite recent negative sentiment and management changes, represents an attractive buy based on its solid underlying business and attra...
Getty Images Small- to mid-cap pharma stocks offer distinctive opportunities for contrarian investors able to look beyond short-term volatility and identify undervalued stocks with strong fundamental potential. In our view, Ironwood Pharmaceuticals, Inc. ( IRWD ), despite recent negative sentiment and management changes, represents an attractive buy based on its solid underlying business and attractive valuation. Ironwood Pharmaceuticals, Inc. (IRWD) has been facing an uphill battle last week. Closing down last week at $3.49, the stock had slid around 14% in the previous three trading sessions. The negative momentum was driven by news of their CFO's resignation . While the recent volatility may scare away short-term investors, we believe the stock is sitting in an advantageous entry zone. The recent slump in the stock is closely linked to both the news of the CFO's resignation and recent insider selling, as shown in the company's EDGAR filings. This pattern has heightened worries among investors and contributed to additional short-term pressure. In February, six officers, including the CFO, sold shares, and those sales were disclosed in Form 4 filings. This was already in the public record when the resignation was announced. The selling is relevant, but the disclosures predated the resignation, and we do not believe the resignation undermines the company's long-term prospects. As things stand, we believe the stock is a BUY at ~$3.50. At that price range, the fundamentals are strong, and the SA Ratings further support our reasoning. The SA Quant Rating sits squarely in the STRONG BUY column, ranking Ironwood #1 out of 449 tracked biotech stocks, while the SA Wall St. Rating aggregator assigns Ironwood a BUY rating, with an average twelve-month price target of $6.10, indicating a potential upside of 74.8%. If a number of officers start selling off large blocks of stock, it can cause uncertainty and negative sentiment even if the company's fundamentals look great. This...
halbergman/E+ via Getty Images U.S. refiners are producing jet fuel at a near-record pace , topping 2M bbl/day in recent weeks as refiners have added capacity and maximized yields, Argus reported Thursday, citing estimates from the Energy Information Administration. U.S. jet fuel production has jumped by nearly 290K bbl/day since the start of the Iran war that has choked off supply through the Str...
halbergman/E+ via Getty Images U.S. refiners are producing jet fuel at a near-record pace , topping 2M bbl/day in recent weeks as refiners have added capacity and maximized yields, Argus reported Thursday, citing estimates from the Energy Information Administration. U.S. jet fuel production has jumped by nearly 290K bbl/day since the start of the Iran war that has choked off supply through the Strait of Hormuz and damaged energy infrastructure, causing soaring fuel prices and high margins for U.S. refiners . Marathon Petroleum ( MPC ) boosted jet fuel capacity at its 606K bbl/day Garyville refinery in Louisiana by 30K in March and plans to raise jet fuel capacity at its 253K bbl/day Robinson refinery in Illinois by 10K in Q3, Argus said. Valero ( VLO ) Valero has increased jet production yields to above 30% of total distillates in March, up from an average of 26%, with plans to push two more refineries into "jet production mode" to increase yields even further, the company said on its Q1 earnings conference call . HF Sinclair ( DINO ) has said it launched a project that allows it to swing ~7K bbl/day between diesel and jet fuel at its 145K bbl/day Puget Sound refinery in Anacortes, Washington. Jet fuel prices at t he U.S. Gulf Coast reached an all-time high of $4.73/gal on April 2, the highest price since at least 1994, according to Argus, and o verall U.S. jet fuel prices are expected to average $3.33/gal in 2026, the EIA said in its latest monthly Short-Term Energy Outlook, nearly three-quarters above its estimate before the war. ETF: ( CRAK ) More on Marathon Petroleum, Valero Energy, and HF Sinclair Marathon Petroleum: The Golden Age For Refining Is Here Valero Energy: A Repeat Of The Mega-Cycle From 2022 Buy HF Sinclair On Bumper Profits
Asked by reporters whether - and how - his government would get Castro to the US to face the charges, Rubio replied: "I'm not going to talk about how we're going to get him here, if we were trying to get him here, why would I say to the media what our plans are about that?"
Asked by reporters whether - and how - his government would get Castro to the US to face the charges, Rubio replied: "I'm not going to talk about how we're going to get him here, if we were trying to get him here, why would I say to the media what our plans are about that?"
Pressed by the BBC about the swimming pool and other facilities at the hotel, Cubillos said that although from the outside it might look like they are living pretty well, that was not the case. "We've only used the pool once, on a really hot day. Most of the time, we're stuck in our rooms."
Pressed by the BBC about the swimming pool and other facilities at the hotel, Cubillos said that although from the outside it might look like they are living pretty well, that was not the case. "We've only used the pool once, on a really hot day. Most of the time, we're stuck in our rooms."