<p><strong>GLOBAL: Iran warned that US energy assets across the Gulf, including those of US oil and gas companies, are highly exposed and vulnerable to retaliation.</strong></p>

<p><strong>Market impact: Oil prices extended gains and US equities retreated </strong>as investors evaluated escalating Middle East hostilities.</p>

<p><strong>Iran also announced that it will declare a new restricted maritime zone in the Gulf in the coming days.</strong> Any vessel entering this newly designated area will be placed on an Iranian sanctions list.</p>

<p><strong>LOCAL: The Asian Development Bank said that the economy could still reach a 3.8% growth rate in 2026, though it will require a turnaround in consumer and government spending.</strong></p>

<p><strong>Market impact: The peso finished higher despite reaching a fresh intraday low, </strong>while the PSEi dipped amid ongoing Middle East tensions.</p>

<p><strong>Metrobank projects GDP growth to stay below historical averages through 2027, </strong>constrained by subdued private and public spending.</p>