cash – Author Carlo Carrasco

57% of retail payments in the Philippines are digital

July 15, 2025July 8, 2025carlocarrasco

There is no denying that consumers here in the Philippines prefer to use digital methods of paying over cash as more than 57% of retail transactions by volume are digital, according to a business news report by Malay Business Insight. The details were revealed by the Bangko Sentral ng Pilipinas (BSP).

To put things in perspective, posted below is an excerpt from Malaya Business Insight’s news report. Some parts in boldface…

More Filipinos are going cashless and transacting in e-money or digital cash as the most preferred payment for retail accounts, the Bangko Sentral ng Pilipinas (BSP) said in a report on Monday.

Based on the latest BSP status report, digital payments now account for 57.4 percent of retail transactions by volume as of end-2024, up from 52.8 percent in 2023. In terms of value, e-money’s share also increased to 59 percent from 55.3 percent.

The figures surpassed the government’s target range of between 52 and 54 percent as set under the Philippine Development Plan 2023–2028.

BSP Governor Eli M. Remolona Jr. said the steady year-on-year growth “reinforces the momentum built after surpassing the 2023 digitalization target of 50 percent for volume.”

He also said the upward trajectory “reflects the long-term impact of market developments, policy initiatives, and the growing trust and familiarity of Filipinos with digital payment options.”

Remolona said the BSP will continue to harness technology and finance to connect markets and ensure that “every Filipino becomes part of the formal financial system.”

They will do this by empowering banks, non-banks and the fintech sector to leverage innovation in designing financial products that are not only accessible but also more responsive to the needs of consumers.”

Let me end this post by asking you readers: What is your reaction to this recent development? When it comes to retail transactions, do you prefer to pay with cash or with a digital payment method? Do you have any e-wallets (electronic wallets) right now?

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

Nine foreigners who were caught with undeclared P441 million cash and foreign currency up for deportation

May 24, 2025May 20, 2025carlocarrasco

The nine foreigners – who had two Filipino companions – who were recently caught in the Cebu airport carrying undeclared amounts of cash of over P440 million and some foreign currency will be deported after their local cases get resolved, according to a GMA Network news report.

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

The Bureau of Immigration (BI) said Tuesday it is seeking to deport the nine foreigners arrested at the Mactan-Cebu International Airport for carrying undeclared bags of cash amounting to over P440 million.

According to Immigration spokesperson Dana Sandoval, the deportation proceedings are ongoing.

The nine foreigners and two Filipinos were arrested by the Philippine National Police Aviation Security as they were attempting to board a private plane to Manila at about 10:30 p.m.

The suspects—including six Chinese and individuals from Malaysia, Indonesia, and Kazakhstan—were found carrying seven bags instead of the declared three bags containing up to P441,922,542, USD$168,730 (around P9.342 Million), and HKD$1,000 (around P71,000).

The BI said that aside from deportation proceedings, the group may also face criminal and anti-money laundering charges before local courts.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think there could be more foreigners in the country carrying with them huge amounts of undeclared cash?

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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What to watch on YouTube right now – Part 53

January 22, 2025January 15, 2025carlocarrasco

Welcome back my readers, YouTube viewers and all others who followed this series of articles focused on YouTube videos worth watching. Have you been searching for something fun or interesting to watch on YouTube? Do you feel bored right now and you crave for something to see on the world’s most popular online video destination?

I recommend you check out the following topics and the related videos I found.

#1 Popcorn in Bed reacts to An Officer and a Gentleman – Released in 1982, An Officer and a Gentleman is a romantic drama film with a militaristic flavor showing a young Richard Gere and Louise Gosset, Jr., in a very memorable role. Some parts of the movie were filmed on location here in my native Philippines. While I am not exactly a fan of the movie, I can say that it still has some shining moments as well as some memorable dramatic scenes. Recently, YouTuber Popcorn in Bed posted its reaction video of the movie, and I can say it is worth watching.

#2 When hackers made ATMs release so much money – Recently, YouTuber fern published a new video explaining a certain financial crime that resulted in physical activities that was hard to imagine – automatic teller machines (ATMs) shooting out multiple bills of cash for thieves to collect. What happened, what can financial institutions do to prevent their system from getting hacked, and how the events turned out are explained in detail by fern.

#3 Criterion Collection shows how to restore and remaster very old films – The Criterion Collection (AKA Criterion) is a company that specializes on licensing, restoring and releasing selected films that movie buffs, fans and new film enthusiasts could enjoy. I myself own the Criterion Blu-ray discs of The Blob (1958) and Gojira, and I can say that the company did a great job restoring the said films while adding stuff for collectors and fans to enjoy. When it comes to restoring decades-old films and making them presentable with quality in mind, Criterion really works hard and you can learn a lot from them by watching the videos below.

#4 VKunia reacts to Man of Steel – Do you movie fans enjoy watching Zack Snyder’s Man of Steel? The 2013 Superman movie remains divisive among fans and superhero movie enthusiasts to this day. I’ve seen the movie many times from the local cinemas to my Blu-ray copy, and I can say it truly is a mixed bag when it comes to providing viewers fun and defining Superman in the 21^st century. Still, there is a chance that the Man of Steel reaction video by YouTuber VKunia could spark your interest in the film as well as in Zack Snyder’s visceral vision of DC Comics superheroes. I encourage you to watch her reaction video below.

#5 Commie Kamala Harris proves herself pathetic yet again during California wildfire briefing – By the time you are reading this, Donald Trump has officially returned as United States President. That being said, even during times of disaster, the defeated Commie Kamala Harris proved to be pathetic and worthless during the recent briefing about the wildfire in California. She is so pathetic and worthless, Harris proved she is not trustworthy. Imagine all the amounts of American taxpayers’ money that got wasted by Harris during her 4 years as US Vice President.

#6 Battlezone revisited – Released by Atari in 1980, Battlezone was a groundbreaking game both visually and with game design. It gave gamers an immersive experience of driving a tank with 3D graphics, fun gameplay and a first-person view. If you wish to learn about the history of Battlezone, who the creators were and how were they able to produce the game, watch the video of gaming history expert PatmanQC.

#7 Minty Comedic Arts and the 1980s – I really enjoy watching the videos of Minty Comedic Arts. His series of “10 things you didn’t know about…” videos on pop culture (mostly movies) is fun to watch and he often entertains with his delivery of trivia information. In recent times, he posted trivia videos about certain films from the 1980s – each one being memorable in their own ways – namely Fast Times at Ridgemont High, The Breakfast Club, The Blue Brothers, Beverly Hills Cop and Indiana Jones and the Temple of Doom. Watch Minty’s videos now!

#8 The failure of Segway remembered – Remember decades ago when the Segway was first launched and heavily featured through the media? Invented by Dean Kamen, the Segway was a 2-wheeled personal transporter which was released looking fantastic but ended up as a failure. The Segway also ended up looking very bad in media reports about accidents with it. To find out what led to the Segway’s debut and how it failed, watch the video below.

#9 GoodBadFlicks examines five major flops – When it comes to movies that failed miserably, were those really terrible to watch or were they actually decent productions that failed to attract enough moviegoers? There are factors as to why movies fail. There are films that generated so much negative press, the moviegoers were convinced to avoid them. There are movies that were really badly made and there are others that got promoted or distributed very poorly. GoodBadFlicks recently post a video examining five major flops and it might convince you to watch The 13^th Warrior, Final Fantasy: The Spirits Within, Titan A.E., The Chronicles of Riddick and Cutthroat Island.

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Stakeholders and analysts perceive VAT refund limit for tourists just right to ensure small businesses will benefit

January 3, 2025December 27, 2024carlocarrasco

As far as the analysts and tourism stakeholders are concerned, the minimum purchase requirement for non-resident tourists to qualify for the value-added tax refund is just right in relation to benefiting the small businesses, according to a BusinessWorld news report. There is, however, one dissenting opinion.

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

THE P3,000 ($51) minimum purchase requirement for nonresident tourists to qualify for a value-added tax (VAT) refund is “just right” to ensure small businesses benefit, analysts said.

President Ferdinand R. Marcos, Jr. recently signed into law Republic Act (RA) No. 12079, which allows tourists to claim VAT refunds on purchases worth at least P3,000 from government-accredited stores, in an effort to boost tourism receipts.

“The P3,000 is just right to benefit micro, small and medium enterprise (MSME) retailers and local products,” Philippine Retailers Association (PRA) President Roberto S. Claudio said. He said the purchase cap is kept to a minimum to benefit locally made products.

“I think it’s a good entry and good starting point. Some countries are still higher than P3,000 as well. I think we’re above the middle, so I think that’s a good place to be,” Tourism Congress of the Philippines President James M. Montenegro said via phone call.

Under RA 12079, the value of the locally bought goods from accredited stores must reach at least P3,000 per transaction, provided these goods are taken out of the country within 60 days of purchase.

“This law is primarily designed to boost tourist arrivals and expenditure. Hopefully, it will also increase the sales revenue of retailers,” Mr. Claudio said.

Mr. Montenegro said the minimum purchase amount could be adjusted in the future.

The threshold is subject to review and adjustment every three years by the Finance secretary, upon recommendation of the Commissioner of Internal Revenue, considering the inflation data from the statistics agency.

“I think the minimum rate is at par with our ASEAN [Association of Southeast Asian Nations] neighbors. If you look at the minimum amounts in other countries, it is almost the same,” Eleanor L. Roque, a tax principal at P&A Grant Thornton, told BusinessWorld.

The Philippines has joined other ASEAN countries with a tax refund program for nonresident tourists. The scheme has increased retail activity, particularly in sectors such as fashion, electronics and souvenirs.

In Malaysia, the minimum purchase is 300 ringgit ($67). Singapore allows tourists to spend at least S$100 ($74), while in Indonesia, it starts at 500,000 rupiah ($31).

“It is good to have a minimum amount as it limits the refund claim to valuable expenses. De minimis spendings are normally not considered for VAT refund as it is not administratively practical. In some cases, the cost will be more expensive than the amount being refunded,” Ms. Roque said.

She said the government should tap accredited international firms in the VAT refund processing, adding that the “government should take advantage of the track record and best practices of these known companies.”

Ms. Roque said the government should ensure the goods bought are really brought out of the country.

“Physical inspection of the goods when exiting the country should be strict to ensure that local buyers do not use tourists for availing themselves of the VAT refund,” she added.

However, Philippine Institute for Development Studies Senior Research Fellow John Paolo R. Rivera said the P3,000 threshold “may not be enough to significantly encourage higher spending among affluent tourists,” especially compared with ASEAN counterparts.

“A higher or more flexible threshold might align better with international best practices and encourage larger purchases,” he said.

Mr. Rivera also urged the government to simplify the VAT refund process, rather than make it “extra bureaucratic.”

Let me end this post by asking you readers: What is your reaction to this recent development? Do you consider the current purchase requirement for the VAT refund for foreign tourists a proper amount? Do you think foreign tourists will be receptive to the current standard for VAT refund of their purchases here in the Philippines?

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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The newest polymer bank notes from the BSP

January 2, 2025January 2, 2025carlocarrasco

Recently the Bangko Sentral ng Pilipinas (BSP) unveiled the newest polymer bank notes which were described as crisp and capable of withstanding tough conditions, according to a news feature by the Manila Bulletin.

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

The familiar crinkle of a crisp paper bill, the faded ink from countless transactions, the subtle tear at the edge – these are the hallmarks of the Philippine piso as many know it. But come January, Filipinos will begin to experience a currency revolution.

The Bangko Sentral ng Pilipinas (BSP) is ushering in a new era with the first series of polymer banknotes, a move that signifies more than just a change in material. It’s a leap towards a more secure, sustainable, and hygienic future for the nation’s currency.

Imagine pulling out a banknote that feels smoother, almost plastic-like, and noticing intricate details that shimmer under the light. This is the promise of the new polymer piso.

These banknotes, designed to last longer and withstand the rigors of daily use, are imbued with advanced security features that make counterfeiting a near impossibility. Microprinting, tactile elements, and clear windows are just some of the technologies embedded within these notes, providing a robust defense against fraudulent activities and bolstering public confidence in the currency.

“We have the mandate of issuing the currency, and we always try to look for ways to improve our currency,” explains BSP Assistant Governor Mary Anne Lim. “In improving our currency, we consider the needs of our users in utilizing it, and also advances in technology when it comes to printing and using our banknotes.”

The shift to polymer addresses a critical concern in today’s world: hygiene. Paper banknotes, passing through countless hands, can harbor bacteria and viruses. Polymer notes, on the other hand, are less hospitable to these pathogens.

Their non-porous surface makes it harder for microbes to cling and survive, contributing to a healthier and safer transaction experience in a post-pandemic world.

But the BSP’s vision goes beyond practicality. The new banknotes are also an opportunity to celebrate the Philippines’ rich biodiversity and cultural heritage.

Each denomination features a carefully chosen endangered species, a poignant reminder of the country’s unique natural treasures and the need for their conservation.

The 1,000-piso note, already in circulation since April 2022, showcases the majestic Philippine eagle soaring above the Tubbataha Reefs Natural Park, a UNESCO World Heritage Site.

The 500-piso note features the elusive Visayan spotted deer amidst the lush greenery of the Puerto Princesa Subterranean River National Park.

The 100-piso note highlights the vibrant Palawan peacock-pheasant against the backdrop of the iconic Mayon Volcano, while the 50-piso note presents the playful Visayan leopard cat with the serene Taal Lake in the background.

These visuals are complemented by intricate designs inspired by traditional weaving patterns, showcasing the artistry and craftsmanship of different Filipino communities. The banknotes, therefore, become more than just a medium of exchange; they transform into miniature canvases that tell a story of the Philippines’ natural wonders and cultural heritage.

“The polymer series raises awareness of the country’s threatened species, serves as a symbol of Filipino identity, and fosters national pride,” shares BSP Governor Eli M. Remolona, Jr., highlighting the inspiration and symbolism behind the chosen themes

The environmental impact of currency production is another crucial factor considered by the BSP.

Polymer banknotes, with their longer lifespan, reduce the need for frequent replacements. This translates to less paper consumption, lower energy use in production, and a smaller carbon footprint. The BSP’s commitment to sustainability is evident in this conscious choice of material, aligning with the global push towards eco-friendly practices.

The transition to polymer banknotes is a milestone in the Philippines’ journey towards modernization. It’s a testament to the BSP’s proactive approach to currency management, ensuring that the Philippine piso remains secure, resilient, and relevant in a rapidly changing world.

Let me end this post by asking you readers: What is your reaction to this recent development? Are you receptive towards the newest polymer bank notes from the BSP? What do you think of the new P500, P100 and P50 bills? Do you have a problem about the new bills not showing historical people of the Philippines?

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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Three men arrested for armed robbery inside a village in Parañaque City

November 11, 2024November 1, 2024carlocarrasco

Recently in the city of Parañaque, three who were involved in an armed robbery that took place inside a village were apprehended by the local police, according to a news report by the Daily Tribune.

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

Three suspected robbers involved in an armed robbery at a residence in Multinational Village, Parañaque City, have been arrested by the Parañaque City police.

According to a report received by Police Brigadier General Bernard R Yang, District Director, a group of six armed male suspects entered the parking lot of a house located at the intersection of Matthew Street and Multinational Avenue. The victims, two Chinese nationals and four Filipinos residing in the house, were held at gunpoint. The suspects bound the victims with duct tape and tied up the in-house security guard, S/G Julius, before moving to the master’s bedroom.

The primary victim, identified as Lin, Chinese national, was threatened and forced to open a vault, from which the suspects stole approximately ₱700,000.00 in cash, ₱280,000.00 from another victim, Yu, and assorted jewelry valued at around ₱400,000. The suspects fled the scene in a sedan, exiting through Multinational Gate 1.

Through coordinated follow-up operations, Parañaque City Police Station’s intelligence and operational teams traced the suspects’ vehicle movements. Witness testimony led to the identification of one suspect, alias “Brian.”

As a result of diligent investigative efforts, law enforcement apprehended three individuals, alias “Brian” (38), John (33), and Jevic (29), all drivers by occupation. Three additional suspects, identified as alias Ruel (40), Ramel (40) and alias Agustin (37), remain at large, with ongoing efforts to locate them.

Let me end this post by asking you readers: What do you think about this recent development? If you are a resident of Parañaque, are you concerned that there could armed robbers who would dare to enter gated villages and rob households? How do you think the group of armed robbers in the news report managed to enter the village and proceeded to rob the victims?

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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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 engagement, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

Ayala-Mitsubishi deal likely to boost GCash IPO

October 30, 2024October 21, 2024carlocarrasco

If things go well, the recent deal made between Ayala Corp. and Japan’s Mitsubishi Corp. will likely boost the anticipated initial public offering (IPO) of e-wallet entity GCash, according to a BusinessWorld news report referencing analysts.

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

THE RECENT deal between Ayala Corp. and Japan’s Mitsubishi Corp. is likely to increase the valuation of the anticipated initial public offering (IPO) of the electronic wallet GCash, according to analysts.

On Friday last week, Ayala Corp. announced that it was selling its 50% stake in AC Ventures Holding Corp. (ACV) to Mitsubishi for a minimum of P18.4 billion.

ACV owns 13% of Globe Fintech Innovations, Inc. (Mynt), which has two fintech companies, G-Xchange Inc., the operator of GCash, and Fuse Lending, a tech-based microlender.

“The deal reinforces the value of Mynt for its future IPO. With key investors coming in at a valuation of around $5 billion, Mynt is poised for an IPO at a much higher valuation,” Chinabank Capital Corp. Managing Director Juan Paolo E. Colet said in a Viber message.

GCash previously said it was planning an IPO but would wait for a more favorable market.

According to Mr. Colet, the IPO could happen as early as next year depending on market conditions.

“I can see the IPO within the next two to three years. Perhaps as soon as next year if market conditions are very good,” he said.

“So far, it seems Globe wants a local IPO for Mynt. But it would be better if they do a dual listing in the Philippines and a larger stock market to get the best of both worlds,” he added.

Globalinks Securities and Stocks, Inc. Trader Mark V. Santarina said in a Viber message that the deal helps GCash’s international expansion plans.

GCash services are available in 16 countries, including the United States, United Kingdom, United Arab Emirates, Italy, Australia, Canada, Germany, and other Asian countries.

“For GCash, Mitsubishi’s entry paves the way for potential international expansion, particularly into Japan, and may boost its service offerings in microlending and financial technology,” he said.

“While GCash is considering overseas listings for its IPO, there is still hope it may choose to list on the Philippine Stock Exchange (PSE) instead, which would be a significant win for the local market,” he added.

AP Securities, Inc. Research Head Alfred Benjamin R. Garcia said in a Viber message that the deal could help improve other Ayala ventures.

“With its entry into ACV, Mitsubishi is not only buying into GCash but also into other ventures under ACV like Gogoro and Zalora. We believe Mitsubishi’s expertise can help improve these businesses and maybe even accelerate the expansion of GCash into Japan,” he said.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think an IPO of GCash could happen sometime in 2025? Are you an investor waiting for the GCash IPO to happen?

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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Mardi Gras Warehouse Sale 2024 set for November 15 to 17 at Madison Galeries

October 26, 2024October 22, 2024carlocarrasco

Madison Galeries announced that the 2024 edition of the Mardi Gras Warehouse Sale is all set to happen from November 15 to 17, 10AM to 8PM, at The Events Place at the 3^rd floor of the mall in Barangay Cupang, Alabang, Muntinlupa City.

For the newcomers reading this, Madison Galeries is located along Don Jesus Boulevard and it is a short drive away from Alabang Hills Village as well as the West Service Road.

To put things in perspective, posted below is an excerpt from Madison Galeries’ Facebook announcement. Some parts in boldface…

Exciting news, everyone! The ultimate Warehouse Sale is back and better than ever! Mark your calendars! Mardi Gras is coming on November 15-17, 2024, at The Madison Events Place.

This is the anticipated event of the year where you can score amazing deals with up to 80% off a wide range of items! Whether you’re hunting for unique finds, fresh stocks, or just looking to snag low prices, this sale is not to be missed.

Those who wish to receive updates about Mardi Gras Warehouse Sale via Viber can join the community by clicking https://tinyurl.com/MardiGrasViberComm

The accepted modes of payments at the sale are cash, GCash and credit cards. Like the previous years’ Mardi Gras sale/bazaar, there will be a wide range of items offered such as coffee mugs, utensils, kitchenware, clothes, toys, bags and more. Mardi Gras Warehouse Sale is also an opportunity for shoppers to buy items for Christmas gift-giving.

For more information, contact Madison Galeries by sending email at social@madisongaleries.com or visit their Facebook page at https://www.facebook.com/MadisonGaleries

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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

US Dollar reserves of the Philippines reach all-time high of almost $112 billion

October 15, 2024October 8, 2024carlocarrasco

Based on the preliminary data of the Bangko Sentral ng Pilipinas (BSP), the American Dollar reserves of the Philippines reached $111.981 billion (as of September 2024 specifically) which counts as a new all-time high, according to a Manila Bulletin business news report.

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

The country’s US dollar stock climbed to its highest level of $111.981 billion as of end-September 2024, surpassing the previous record of $108.794 billion in 2021, as the central bank was accumulating foreign exchange and assets to boost external reserves and defend the local currency.

Based on preliminary data released by the Bangko Sentral ng Pilipinas (BSP) on Monday, Oct. 7, the gross international reserves (GIR) increased by 14.13 percent or by $13.865 billion year-on-year compared to $98.116 billion same time in 2023.

The GIR also rose by 3.82 percent or by $4.125 billion versus end-August this year’s reserves of $107.857 billion.

The BSP-monitored GIR are foreign assets of the BSP invested in foreign-issued securities, monetary gold, and foreign exchange.

The latest GIR level is “more than adequate external liquidity buffer” that is equivalent to 8.1 months’ worth of imports of goods and payments of services and primary income. It is also about 6.3 times the country’s short-term external debt based on original maturity and 4.4 times based on residual maturity, said the BSP.

Basically, a GIR is adequate if it can finance at least three-months’ worth of the country’s imports of goods and payments of services and primary income. This was based on international standards. The GIR is also viewed as more than sufficient if it provides at least 100 percent cover for the payment of the country’s foreign liabilities, public and private, falling due within the immediate 12-month period.

The reserves were higher in end-September because of the government’s net foreign currency deposits with the BSP that includes proceeds from the issuance of ROP Global Bonds.

The GIR likewise got a boost from the BSP’s gold holdings which had a higher value with the increase in the prices of gold in the global market. The BSP’s net income also increased due to its investments overseas.

Let me end this post by asking you readers: What is your reaction to this recent development? What is the first thing that comes to your mind when the Philippines’ US Dollar reserves grow? Does this development make you feel comfortable when it comes to banking, investing or running a local business? Are you satisfied with the way the BSP has been moving with regards to financial and economy activities?

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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Muntinlupa City Government officially denies release of P1,000 for elderly locals aged 70-79

August 8, 2024August 7, 2024carlocarrasco

In the City of Muntinlupa, the City Government issued an official denial in response to the circulating information that local senior citizens aged 70 to 79-years-old will be receiving P1,000 each from the local authorities, according to a GMA Network news report.

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

The local government of Muntinlupa City on Tuesday warned the public that it is not distributing P1,000 birthday cash gifts to residents who are 70 to 79 years old.

The city government noted that it is just currently doing surveys among its elderly residents to organize the city’s database.

“Kung mayroon man pong kumuha ng inyong impormasyon, ito ay para ito sa validation ng datos ng ating senior citizens. Gusto po nating maayos ang database at tama ang impormasyon na basehan ng mga programa ng lungsod,” the statement read.

(If anyone is asking for your information, this is only for the validation of our data on senior citizens. We just want to organize our database and make sure that we have the right information for the city’s programs.)

The city encouraged its residents to report any suspicious messages to the Philippine National Police Anti-Cybercrime Group: (02) 8723 0401 (loc. 7491), 0968-8674302 (Smart), 0967-1360322 (Globe), and 0992-9893889 (DITO).

Further, the city government advised that senior citizens may reach out to the Office for Senior Citizen’s Affairs at the Bayanan Baywalk or the satellite office at South Park Center.

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 think that more has to be done to push back against misinformation and the spread of fake news?

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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