Tycoon Says Trump Tariffs May Hurt Philippines' Trade Partners
Philippine billionaire Jaime Augusto Zobel de Ayala said any benefit that the Southeast Asian nation may have from the lower US tariffs relative to its regional peers may be limited by the impact of the levies on some of its trade partners.
'Our economy is primarily a service economy and it is consumption driven, making our country in some ways in a better position to weather the negative impacts of the new trade restrictions,' Zobel said on Monday.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNBC
3 hours ago
- CNBC
DoubleLine's Gundlach says to buy international stocks on the dollar's 'secular decline'
DoubleLine Capital CEO Jeffrey Gundlach said Tuesday that international stocks will continue to outshine U.S. equities on the back of what he believes to be the dollar's secular downtrend. "I think the trade is to not own U.S. stocks, but to own stocks in the rest of the world. It's certainly working," Gundlach said in an investor webcast. "The dollar is now in what I think is the beginning of [a] secular decline." Gundlach, whose firm managed about $95 billion at the end of 2024, said dollar-based investors who buy foreign stocks could enjoy "a double barreled wind" if the greenback declines against foreign currencies and international equities outperform. The dollar has weakened in 2025 as Trump's aggressive trade policies dented sentiment toward U.S. assets and triggered a reevaluation of the greenback's dominant role in global commerce. The ICE U.S. Dollar Index is down about 8% this year. "I think it's perfectly sensible to invest in a few emerging market countries, and I would still rather choose India as the long term hold there," Gundlach said. "But there's nothing wrong with certain Southeast Asian countries, or perhaps even Mexico and Latin America." The widely-followed investor noted that foreigners invested in the United States could also be holding back committing additional capital due to heightened geopolitical tensions, and that could create another tailwind for international markets. "If that's reversing, then there's a lot of selling that can happen. And this is one of the reasons that I advocate ex U.S. stocks versus U.S. stocks," he said. The investor has been negative on the U.S. markets and economy for some time, saying a number of recession indicators are starting to "blink red." Gundlach predicted that the Federal Reserve will stay put on interest rates at its policy meeting next week even as current inflation is "quite low." He estimated that inflation is likely to end 2025 at roughly 3%, although he acknowledged the difficulty in predicting future price pressures due to the lack of clarity in President Donald Trump's tariff policy.
Yahoo
a day ago
- Yahoo
Black & Veatch Participates in Industry Dialogues, Identifies Viable Pathways to Deliver Asia's Energy Transition at Energy Asia 2025
KUALA LUMPUR, Malaysia, June 10, 2025--(BUSINESS WIRE)--Black & Veatch, a global leader in human critical infrastructure solutions, will share ways to adapt international best practices to accelerate Southeast Asia's energy transition at the Energy Asia 2025 conference, taking place June 16-18 at the Kuala Lumpur Convention Center here. "As geopolitical tensions rise and extreme heat waves become more prolonged, Malaysia and its Southeast Asian neighbors need energy transition solutions that will meet their economic and environmental targets. "Black & Veatch is committed to drawing on its extensive sustainable infrastructure experience to help the region meet its growing energy demands with low and no-carbon energy sources," said Jerin Raj, managing director, Asia Pacific, Black & Veatch. Deep collaborations with industry leaders from energy and other sectors, and knowledge transfer are part of that commitment. At the conference in Malaysia, Anand Pattani, vice president and managing director, International Energy Majors, Black & Veatch, will discuss how traditional refiners can adapt to remain competitive in a low-carbon world and the pathways most viable for the refining sector. Pattani will propose global strategies that can be adapted to overcome technical, regulatory, and financial barriers. Aligning with Malaysia's priorities to reduce carbon footprints, optimize resource efficiency, and promote sustainable development, Black & Veatch has supported power projects in Malaysia since the 1990s, from strategic decision-making to financial and resource commitments, implementation and execution. About Black & Veatch Black & Veatch is a 100-percent employee-owned global engineering, procurement, consulting and construction company with more than 100-years of innovation in sustainable infrastructure. Since 1915, we have helped our clients improve the lives of people around the world by addressing the resilience and reliability of our most important infrastructure and energy assets. Follow us on and on LinkedIn, Facebook, X (Twitter) and Instagram. View source version on Contacts Media Contact Information: EMILY CHIA | +65 6335 6623 | Media@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
a day ago
- Business Wire
Black & Veatch Participates in Industry Dialogues, Identifies Viable Pathways to Deliver Asia's Energy Transition at Energy Asia 2025
KUALA LUMPUR, Malaysia--(BUSINESS WIRE)-- Black & Veatch, a global leader in human critical infrastructure solutions, will share ways to adapt international best practices to accelerate Southeast Asia's energy transition at the Energy Asia 2025 conference, taking place June 16-18 at the Kuala Lumpur Convention Center here. 'As geopolitical tensions rise and extreme heat waves become more prolonged, Malaysia and its Southeast Asian neighbors need energy transition solutions that will meet their economic and environmental targets. 'Black & Veatch is committed to drawing on its extensive sustainable infrastructure experience to help the region meet its growing energy demands with low and no-carbon energy sources,' said Jerin Raj, managing director, Asia Pacific, Black & Veatch. Deep collaborations with industry leaders from energy and other sectors, and knowledge transfer are part of that commitment. At the conference in Malaysia, Anand Pattani, vice president and managing director, International Energy Majors, Black & Veatch, will discuss how traditional refiners can adapt to remain competitive in a low-carbon world and the pathways most viable for the refining sector. Pattani will propose global strategies that can be adapted to overcome technical, regulatory, and financial barriers. Aligning with Malaysia's priorities to reduce carbon footprints, optimize resource efficiency, and promote sustainable development, Black & Veatch has supported power projects in Malaysia since the 1990s, from strategic decision-making to financial and resource commitments, implementation and execution. About Black & Veatch Black & Veatch is a 100-percent employee-owned global engineering, procurement, consulting and construction company with more than 100-years of innovation in sustainable infrastructure. Since 1915, we have helped our clients improve the lives of people around the world by addressing the resilience and reliability of our most important infrastructure and energy assets. Follow us on and on LinkedIn, Facebook, X (Twitter) and Instagram.
