Asia – Page 118 – Author Carlo Carrasco

HSBC remains committed to investing in the Philippines and supporting the government’s economic agenda

April 16, 2024April 5, 2024carlocarrasco

Recently the huge international financial firm The Hongkong and Shanghai Banking Corporation (HSBC) confirmed its commitment to investing in the Philippines and supporting the government’s economic agenda which President Ferdinand “Bongbong” Marcos, Jr., welcomed, according to a Philippine News Agency (PNA) news article.

To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…

President Ferdinand R. Marcos Jr. on Thursday welcomed the commitment of the Hongkong and Shanghai Banking Corporation (HSBC) to support the government’s economic agenda and continue to invest in the Philippines.

HSBC Holdings Group officials, led by its Chairman Mark Tucker, paid a courtesy visit to the President at the Malacañan Palace and expressed its intention to continue expanding in the country.

“Today, we are left as one of the few international banks. But our commitment to the Philippines, and continuing to invest, continuing to work here remains absolutely intact,” Tucker told Marcos.

He added that HSBC, which has been operating in the Philippines for almost 150 years, is interested in expanding its investment in the Philippines, particularly on foreign direct investment (FDI), saying it “supports FDI by a number of different ways.”

For his part, the chief executive acknowledged the significant contributions of HSBC to the Philippine economy, pointing out the “interconnections” it has made in the country.

“Thank you again for HSBC’s continued interest. We continue to encourage (foreign investments). The economy, actually, we’ve tried to open it up, we put very, we put much (importance)… on the fact that private partnerships are necessary,” Marcos said.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think HSBC’s commitment will encourage other international financial firms and foreign investors to support the national economy?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

Woman arrested for theft in Las Piñas City

April 16, 2024April 16, 2024carlocarrasco

Recently in the City of Las Piñas, police officers arrested a woman who has been wanted for theft, according to a Manila Bulletin news report. The suspect, who has since been detained, was one of the Top 10 most wanted persons.

To put things in perspective, posted below is an excerpt from the Manila Bulletin’s news report. Some parts in boldface…

A 21-year-old woman wanted for theft was arrested by operatives of Las Piñas Police Warrant and Subpoena Section (WSS) and Station Intelligence Section (SIS) on Friday, April 5.

The Southern Police District (SPD) said Las Piñas police chief Col. Sandro Tafalla reported the arrest of alias Chin-Chin tagged as Top 10 most wanted person.

Tafalla said the police apprehended the suspect at around 3:30 p.m. in Barangay Pulunglua Unot, Las Piñas City by virtue of a warrant of arrest issued by Judge Teodoro S. Carbonera of Las Piñas City Metropolitan Trial Court (MTC) Branch 121 on January 31, 2024 for the service of sentence.

Let me end this piece by asking you readers: If you are a resident of Las Piñas City, what is your reaction to this development? Are you concerned that some members of your local community could be wanted by the police for crimes previously committed?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Moody’s Ratings sees the Philippines becoming the 2nd fastest growing Southeast Asian economy this year and in 2025

April 15, 2024April 3, 2024carlocarrasco

For this year and 2025, Moody’s Ratings projects the Philippines will end up as the 2^nd fastest growing economy in Southeast Asia, according to a BusinessWorld news report.

To put things in perspective, posted below is an excerpt from the BusinessWorld news report. Some parts in boldface…

THE PHILIPPINES is projected to be the second-fastest growing economy in Southeast Asia this year and in 2025 as domestic demand is expected to remain resilient, according to Moody’s Ratings.

“We have kept unchanged our 2024 and 2025 forecasts for the Philippines and Malaysia and also expect sequentially higher growth in both countries. Domestic demand remains the primary economic growth engine for the Philippines,” it said in a report.

Moody’s Ratings kept its forecast for gross domestic product (GDP) growth for the Philippines at 5.9% this year and 6% in 2025.

However, these projections fall short of the government’s growth targets of 6.5-7.5% for this year and 6.5-8% for next year.

At 5.9%, the Philippines has the second-fastest projected growth in Southeast Asia for 2024, after Vietnam (6%). It is ahead of Indonesia (5%), Malaysia (4.5%) and Thailand (2.8%).

For 2025, the Philippines is again expected to post the second-fastest growth behind Vietnam (6.5%) but ahead of Indonesia (5%), Malaysia (4.8%), and Thailand (3%).

Moody’s Ratings said that growth in domestic demand-driven countries like the Philippines is “increasing more than we previously expected.”

The economy grew by a weaker-than-expected 5.6% in 2023, slower than the 7.6% expansion in 2022 and short of the 6-7% government goal.

Household consumption typically accounts for three-fourths of the Philippine economy. Last year, household spending expanded by 5.6%, much slower than 8.3% in 2022.

Meanwhile, Moody’s Ratings sees inflation averaging 3.8% this year, higher than the Bangko Sentral ng Pilipinas’ (BSP) 3.6% full-year forecast but within the 2-4% target.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think that strong household consumption alone can help the Philippine economy grow stronger than what Moody’s Ratings projected for 2024 and 2025?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Have you been playing Grandia HD Collection on Xbox?

April 15, 2024April 12, 2024carlocarrasco

Welcome back Xbox fans, geeks and gamers who love Japanese role-playing games (JRPGs)! In case you missed the news, Grandia HD Collection is now available for Xbox Series X, Xbox Series S and the aging Xbox One console and you can order the digital copy by clicking here.

For the newcomers reading this, Grandia HD Collection on Xbox consoles was officially released on March 26, 2024. It is a collection of two very solid role-playing games (RPGs) from the previous console generations, namely Grandia (originally released on Sega Saturn in Japan in 1997) and Grandia II (originally released on Sega Dreamcast in Japan in 2000). Although the said HD collection has been available for weeks, it was only very recently that an official Xbox trailer of it was published on the ID@Xbox YouTube channel and you can watch it right below…

Personally, I find it very strange why the trailer was released on the ID@Xbox YouTube channel instead of the official Xbox YouTube channel (as of this writing). Perhaps someone at Team Xbox confused the Grandia RPGs to be productions by small and independent studios which is wrong because both games were developed by Game Arts (the same team responsible for the Lunar RPGs and also a publisher of games). Right now, it seems that internal woke problems over at Team Xbox (for reference, click here, here and here) are preventing them from realizing the significance of Grandia and Grandia II.

Apart from the rather late Xbox trailer, a late Grandia HD Collection announcement was published on Xbox.com. To put things in perspective, posted below are selected excerpt from the Xbox announcement written by Gung Ho Online Community Coordinator Allyson Nicholas. Some parts in boldface…

I am excited to announce that the remaster of the classic role-playing series, Grandia HD Collection, has launched on Xbox One and Xbox Series X|S! Whether you are returning to these iconic games or entering these worlds for the first time, the series’ dynamic attack system, rewarding magic and skill progression, and immersive storylines offer dozens of hours of heroic adventures.

Getting You up to Speed on All Things Grandia – The Grandia HD Collection brings two role-playing games that have defined the genre for decades to come to contemporary audiences.

*Screenshot from **Grandia.** The game has fully polygonal environments and the characters and creatures are presented as detailed 2D sprites.*

Grandia follows Justin, a young adventurer who fatefully inherits a magic stone and thus sets out to uncover the mysteries of a lost civilization. In his search, he attracts all types of attention. Some good, in that he meets other adventurers who aid him along on his quest. However, some are bad, like the Garlyle Forces who work to keep him from unraveling the truth of the past.

Meet the Crew

Justin – Driven by his curious and fearless nature, Justin often dives headfirst into situations without thinking. He possesses the mysterious Spirit Stone—an artifact passed down through his family—which plays a pivotal role in his adventures.

Sue – Justin’s childhood friend from the town of Parm. She often joins him on his misadventures, bringing to them her courageous optimism and unexpected maturity that balances out Justin’s impulsiveness. She is almost always accompanied by her flying ball of fluff Puffy, who is as mysterious as he is adorable!

Feena – The most well-traveled of the bunch, Feena has an independent spirit and impressive skillset that garners the respect of those around her, especially Justin. As the journey unfolds, players delve deeper into her multifaceted character and mysterious past.

*Screenshot of **Grandia II** showing Ryudo and his companions fighting a large monster. The characters and monsters are polygonal.*

Grandia II acquaints us with Ryudo, a Geohound who does odd jobs to get money alongside his loyal eagle companion, Skye. One fateful day, he receives a request from the Church of Granas to serve as a bodyguard to one Elena, Songstress of Granas. Together, they bring out pieces of each other that neither of them knew existed amidst their journey to rid the world of Evil in the form of Valmar, God of Darkness.

Meet The Crew

Ryudo – A mercenary with a tough exterior and noble heart. He takes on various jobs for money—despite the moral implications—and is accompanied by his trusted bird companion, Skye.

Elena – The epitome of innocence and purity, Elena’s world is opened wide when she begins to journey alongside Ryudo.

Millenia – Uninhibited, playful, and mischievous, Millenia is a force to be reckoned with. Her origins and the nature of her existence cause her relationship with the party to take many interesting and unexpected turns.

To read the rest of the Xbox.com announcement, click https://news.xbox.com/en-us/2024/04/10/time-for-an-adventure-grandia-hd-collection-remastered-for-xbox-one-and-xbox-series-xs-out-now/

*Two fun Japanese RPGs now available for Xbox gamers to enjoy in a single collection.*

For the Xbox fans who want to have a good amount of fun, there is a lot to be excited for this month and next month as Eiyuden Chronicle: Hundred Heroes (April 23) and Senua’s Saga: Hellblade II will be released on Xbox Series X, Xbox Series S, Windows PC and Xbox Game Pass (XGP) weeks apart. The good news is that Grandia HD Collection on Xbox is already available for anyone willing to purchase it. The Grandia RPGs are undeniably retro gaming highlights that RPG fans should play, especially now that both games have been remastered and enhanced with high-definition in mind.

To buy a copy of Grandia HD Collection, Xbox fans and gamers should click https://www.xbox.com/en-us/games/store/grandia-hd-collection/9n4nlqhx6j18

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Delivery rider arrested for extorting money from motorist while posing as a traffic enforcer

April 12, 2024April 2, 2024carlocarrasco

Recently in the City of Manila, a delivery rider who disguised himself as a traffic enforcer flagged down a motorist and extorted money which eventually led to his arrest, according to a Manila Bulletin news report. The suspect has been charged for robbery extortion and the usurpation of authority.

To put things in perspective, posted below is an excerpt from the Manila Bulletin news report. Some parts in boldface…

A delivery rider posing as a traffic enforcer was arrested after he flagged down a motorist to extort money.

The Manila Police District (MPD) identified the suspect as Lloyd Tolentino, 27, resident of Barangay Kaunlaran, Navotas City.

According to the police report, the 43-year-old victim Reagan Ramos was traveling along Pedro Bukaneg Street corner Roxas Boulevard in Malate, Manila on Sunday night, March 31.

He said he was flagged down by the suspect, who was wearing a Manila Traffic and Parking Bureau uniform, and introduced himself as a traffic enforcer.

The suspect asked for the victim’s driver’s license for a traffic violation (swerving), but the victim contested.

The victim became suspicious when the suspect demanded P200 in exchange for not being issued a traffic violation ticket. Police said the victim immediately reported the incident to authorities that led in the arrest of the suspect.

Let me end this piece by asking you readers: What is your reaction to this recent development? Are you concerned that there could be more abusive delivery riders around Metro Manila who could be committing the usurpation of authority and extort money from motorists?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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World Bank sees stronger Philippine economic growth in 2025

April 11, 2024April 2, 2024carlocarrasco

Recently the World Bank (WB) revealed its forecast of stronger economic growth for the Philippines in the year 2025 although still below the projections of the government, according to a BusinessWorld news report.

To put things in perspective, posted below is an excerpt from the BusinessWorld report. Some parts in boldface…

THE WORLD BANK (WB) maintained its economic growth forecast for the Philippines this year but raised its 2025 growth projection, amid expectations of higher consumer spending and foreign investments.

In its latest East Asia and Pacific (EAP) Economic Update, the World Bank said it expects Philippine gross domestic product (GDP) to grow by 5.8% this year, the fastest in Southeast Asia along with Cambodia.

The Philippines and Cambodia are seen to expand faster than Vietnam (5.5%), Indonesia (4.9%), Malaysia (4.3%), Lao People’s Democratic Republic (4.0%), Timor-Leste (3.6%), Thailand (2.8%) and Myanmar (1.3%).

For 2025, the World Bank raised its GDP forecast for the Philippines to 5.9% from 5.8%.

However, the World Bank’s growth forecasts for the Philippines are lower than the government’s target of 6.5-7.5% for 2024 and 6.5-8% for 2025 to 2028.

“What has sustained growth in the Philippines, like much of the region, has been consumption and the recovery in services,” WB East Asia and Pacific Chief Economist Aaditya Mattoo said at a virtual briefing on Monday.

He noted foreign investment flows into the Philippines might increase after the government implemented significant reforms such as Republic Act No. 11659 or the Public Service Act, which allows full foreign ownership in key sectors such as telecommunications and airlines.

“(The reforms) should begin to pay off in terms of greater foreign investment, which though in the short run… the flows have been less strong than we would have expected,” Mr. Mattoo said.

Climate and geopolitical shocks, as well as elevated inflation and high interest rates are risks to the growth outlook.

“If there is a resurgence in inflation, for example in the United States, which might well see interest rates even higher for longer, that would certainly affect growth throughout the region as we have estimated,” he said.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think the Philippine economy can grow stronger than the forecast of the World Bank for 2025?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Philippine exports of goods and services surpassed $100 billion in 2023

April 11, 2024April 2, 2024carlocarrasco

For the year 2023, Philippine exports of good and services reached over $100 billion based on the balance of payments (BOP) from the Bangko Sentral ng Pilipinas (BSP), according to a Philippine News Agency (PNA). By comparison, less than $100 billion was achieved in 2022.

To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…

Despite global trade challenges, Philippine exports surpassed the USD100-billion mark in 2023, an all-time high revenue for the country’s outbound trade.

The Department of Trade and Industry (DTI) said in a statement Monday that based on the balance of payments (BOP) from the Bangko Sentral ng Pilipinas (BSP), exports of goods and services reached USD103.6 billion. This is higher by 4.8 percent from the total exports of USD98.8 billion in 2022.

DTI Secretary Alfredo Pascual said this is the first time the Philippines breached the USD100-billion mark in export revenues.

Pascual said the strong exports last year was driven by services, especially the information technology and business process management (ITBPM) and tourism services.

Services exports rose 17.4 percent in 2023 to USD48.29 billion from USD41.12 billion in 2022.

According to the Information Technology and Business Process Association of the Philippines, ITBPM revenues last year stood at USD35.5 billion, while government data showed that travel services reached USD9.1 billion last year.

On the other hand, exports of goods last year declined by 4.1 percent to USD55.32 billion from USD57.71 billion in 2022.

The country’s top goods export alone, electronics, decreased by 3.4 percent or USD955 million in 2023 compared to its previous year.

“This decline highlights the importance of diversifying export portfolios and enhancing competitiveness in key sectors,” the DTI said.

“The path to global excellence and export growth requires shared ambition, where the government and the private sector must intensify and sustain collaborations. Our guideline is the Philippine Export Development Plan (PEDP) 2023-2028, which aims to address constraints to production, diversify and improve access to markets, and develop a strong and innovative export ecosystem,” Pascual said.

However, export revenues last year were USD23.2 billion away from the PEDP target of USD126.8 billion for 2023.

“We recognize the ongoing challenges in both the domestic and global trading environments and hope to address the binding constraints to Philippine export competitiveness as we continue to implement the PEDP for 2023 to 2028,” the DTI chief added.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think the Philippines can achieve at least $100 billion worth of export revenue this year?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Only cash and manager’s checks will be accepted by Muntinlupa Treasurer’s Office

April 10, 2024April 1, 2024carlocarrasco

Recently in the progressive City of Muntinlupa, the City Government announced that its Treasurer’s Office will no longer accept personal and company checks as forms of payment, according to a Manila Bulletin news report. This effectively means that only cash and manager’s checks will be accepted by the said office on-site (over the counter).

To put things in perspective, posted below is an excerpt from the Manila Bulletin news report. Some parts in boldface…

The Muntinlupa City government announced that its Treasurer’s Office will no longer accept personal and company checks as payment.

In a Facebook post on April 1, the city government said this is based on the “Commission on Audit (COA) Circular No. 2013-004, Items 26-28, Chapter II” or the Revised Cash Examination Manual.

It said only cash and manager’s checks with the City Treasurer of Muntinlupa as payee will be accepted for on-site payment.

Under items 26 to 28 of the COA circular, “Checks presented for payment must be drawn by the payor himself and made payable to the agency or head of agency. In the latter case, only the official title or designation of the agency head concerned shall be stated as the payee.”

It prohibits the following checks as payment: checks drawn payable to the name of the agency head or any of its officers, endorsed private checks, post-dated checks, and stale checks.

“When a check drawn in favor of the government is not accepted by the drawee for any reason, the drawer shall continue to be liable for the sum due and all penalties resulting from delayed payments. Where the reason for non-acceptance by the drawee bank is insufficiency of funds, the drawer shall be criminally liable therefore,” the circular stated.

It added, “Whenever a payor has a record of a previously dishonored private check drawn by him in payment of taxes and dues, even if such check has already been settled, any private check presented by him shall no longer be accepted. In such case, the payor shall be required to pay only in cash or by certified check. Each agency head, or treasurer, in the case of local government units, shall make a list of payors whose checks have been dishonored and shall circularize the list to all COs under his jurisdiction.”

Let me end this post by asking you readers: What is your reaction to this recent development? If you are a resident of Muntinlupa City, do you have any issues with having to pay only cash or manager’s checks to the Treasurer’s Office?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Cop arrested for shooting motorcycle rider in Parañaque City, suspect denies allegations

April 9, 2024April 1, 2024carlocarrasco

Recently in the City of Parañaque, a police officer was apprehended for shooting dead a motorcycle rider in Barangay San Dionisio, according to a GMA Network news report. The incident happened during Holy Week and the suspect (currently in jail) denied the allegations against him.

To put things in perspective, posted below is the excerpt from the GMA news report. Some parts in boldface…

A police officer who is an active member of the mobile unit of the Philippine National Police-Aviation Security Group was arrested for allegedly shooting a motorcycle rider in Barangay San Dionisio, Parañaque.

According to Mariz Umali’s Saturday 24 Oras Weekend report, 27-year-old Neil Wong was shot dead at around 6:40 a.m. He was seen by a witness talking to the suspect before the attack.

“Nakita ko nang bumagsak na po yung biktima. Tapos sinisigawan ko na yung suspect, sabi ko ‘Huy!’” said the witness.

(I saw the victim fall. Then, I shouted at the suspect, I said ‘Huy!’)

According to the Parañaque Police, the suspect attempted to steal the victim’s motorcycle but ran after it failed to start and was arrested by a passing police patrol.

Taken from the suspect were his service firearm, bullets, and two of the victim’s mobile phones.

“Ang motibo na nakikita namin dito yung robbery,” said Parañaque Police Investigation Chief Police Captain Melvin Garcia.

(The motive that we’re seeing is robbery.)

The victim may also have been in the area because his motorcycle broke down.

Meanwhile, the suspect denied the allegations.

“Bigla niya kong binato out of nowhere. Kala ko di niya sinasadya. Tapos maya-maya bigla niya ko minura. Kaya ko yun nagawa sa kanya, yung binaril ko siya. Humihingi ako ng tawad sa lahat ng kaanak, sa mga magulang at saka sa mga mahal niya sa buhay,” the suspect said.

(He suddenly threw something at me out of nowhere. I thought he didn’t mean it, but later he suddenly cursed at me. That’s why I did it, shooting him. I’m asking for forgiveness from all his relatives, parents, and his loved ones)

Let me end this piece by asking you readers: What do you think about this recent development? If you are a resident of Parañaque, are you concerned that motorcycle robberies could happen near your local community? Do you think the suspect is telling the truth?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Las Piñas City Vice Mayor reviews and approves Green Card applications

April 9, 2024April 1, 2024carlocarrasco

Recently in the City of Las Piñas, Vice Mayor April Aguilar took the time to personally review and approve the local residents’ applications for the Green Card program, according to the City Government’s social media post of March 30, 2024.

To put things in perspective, posted below is an excerpt from the City Government’s social media post.. Some parts in boldface…

City Vice Mayor April Aguilar on Thursday, March 21st reviewed and approved several Green Card applications from local residents. This action underscores the city’s initiative to provide essential healthcare benefits to its citizens through the health subsidy program.

The Green Card program, established by the late Mayor Nene Aguilar, was created to provide healthcare benefits to residents. It represents a lasting legacy of his dedication to improving health access for all citizens.

To know more about the benefits and relevance of the Green Card, click here, here and here.

Let me end this piece by asking you readers: If you are a resident of Las Piñas City, what is your reaction to this development? Were there lots of people in your local community who applied for the city’s Green Card?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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