[Rappler’s Best] Ripple effect

Our world has changed in more ways than one in the last two weeks, as the Middle East war has now disrupted the global supply chain, including, yes, the movement of your balikbayan box. 

It’s hard to see a painless way out of this. Iran shows no signs of capitulating in the face of an unprecedented joint US-Israel bombardment. Neither side is backing down. Veteran Middle East watchers say the sustained attacks on Iran may in fact favor the battered country.

• The US had to call on other nations for help to escort ships through the Strait of Hormuz, which has been closed to sea traffic. 
• Dubai, marketed as the world’s safest place, has not been spared. On Monday, March 16, a drone attack sparked a fire near its posh international airport, the latest incursion into the wealthy state.

Foreign and economic ministers of the Association of Southeast Asian Nations (ASEAN) held a special meeting on Friday, March 13, to tackle the crisis, calling for an end to the war. Manila is chair of ASEAN this year — and whatever grandiose plans it has for the leaders’ summit in November may now have to be assessed. 

Over two million Filipinos work in the Middle East, more than 85,000 of whom are in areas where crisis alerts have been raised, based on this report. As of Sunday, March 15, more than 1,300 Filipinos have been repatriated. 

The war’s ripple effect on the Philippines cannot be underestimated.

• The country could face a rise of at least 16% in power prices in April, thus the need for government intervention.
• Philippine lawmakers are eyeing a supplemental budget to assist the most affected sectors.
• Two other legislative actions are being eyed: the suspension of excise taxes on fuel and the imposition of price control on oil. Beware of populist measures, though, warns JC Punongbayan in this piece.
• Iya Gozum tells us in this explainer how farmers and fishers are impacted not just by the rise in oil prices but by the stranded movement of raw materials. 
• Jeepney and tricycle drivers cry, “Ang sakit sa puso.” 
• Even before the war, unemployment already took a spike in January.

Despite all the gloom, is it the right time to buy stocks? Read Den Somera’s advice.

The stars are truly not aligning for President Ferdinand Marcos Jr., writes Joey Salgado. The President was in New York from March 9 to 10, seen as his last in-person push for the Philippines’ bid to secure a seat as a non-permanent member of the United Nations Security Council. Voting will be in June, but every little wish now is sidelined by the war.

Allow us a moment of cheer, though. The Solicitor General recommended to the Supreme Court the acquittal of Nobel Peace Prize laureate Maria Ressa and former researcher Reynaldo Santos Jr., raising hopes for a closure to the cyber libel case against them nearly seven years ago — under the Duterte regime — and for which they were convicted by a Manila court. 

Here are Rappler’s bests that you shouldn’t miss.

Manolo Quezon III tackles the big question for the Senate: should it give up senators Bato dela Rosa and Bong Go if the International Criminal Court issues an arrest warrant against them? 

Bernardita Azurin-Quimpo profiles the late Dado Banatao, and how the hardware he built partly laid the foundations for the tech revolution we’re now seeing. Gelo Gonzales tells us more about the proposed Philippine Council on Artificial Intelligence. 

Jasmine Payo deconstructs the big promises made by brands to top athletes — from Onyok Velasco to Hidilyn Diaz — and the many times they were broken.

Jairo Bolledo explains the Supreme Court’s decision to affirm a justice department move to raise the standard of evidence in preliminary investigations. 

Frasco out of tourism department; Usec Buensuceso is OIC

Razon is richest Filipino in Forbes list after Villar’s net worth drops $14B

[Finterest] How do you start saving with Pag-IBIG’s MP2 program?

Big majority of Filipinos support passage of anti-dynasty law – Pulse Asia

Injap Sia, Tony Tan Caktiong make PH history as Hotel101-Madrid opens

– Rappler.com

Rappler’s Best is a weekly Rappler+ exclusive newsletter of our top picks delivered straight to your inbox every Monday. Visit rappler.com/newsletters to subscribe.

The views expressed by the writer are his/her own and do not necessarily reflect the views or positions of Rappler.