economy – Page 2 – Author Carlo Carrasco

BSP Eyes Late-2026 Relaunch Of Coin Deposit Machines

July 14, 2026July 7, 2026carlocarrasco

Remember the many coin deposit machines (CoDMs) of the Bangko Sentral ng Pilipinas (BSP) installed in key locations in the Philippines? The BSP is aiming to relaunch the coin deposit machines program before the end of this year, according to a news article by the Philippine News Agency (PNA).

It is recalled that almost P1.5 billion worth of coins were deposited before the BSP suspended their program in June of 2025.

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

The Bangko Sentral ng Pilipinas (BSP) is aiming to relaunch the operation of coin deposit machines (CoDMs) in Metro Manila before the end of the year.

In a recent media luncheon, BSP Deputy Governor Bernadette Romulo-Puyat told reporters the BSP is targeting the initial relaunch of the existing 25 CoDMs for the last week of October to early November 2026.

“This timeline takes into account the required software enhancements, modifications to the enclosure and hardware components, as well as the calibration, accuracy testing, and end-to-end testing of the existing CoDM units prior to deployment,” Romulo-Puyat said.

CoDMs allow customers to conveniently deposit legal tender coins and directly credit the equivalent amount to their GCash electronic wallets.

To recall, the BSP temporarily suspended the operation of CoDMs last year to review how to re-circulate idle coins.

Following the review, the BSP will relaunch the coin deposit machines as part of its commitment to enhancing its coin recirculation program.

Romulo-Puyat said the BSP partnered with SM to lower the operational costs of the CoDMs.

“The coin retrieval was so expensive, so we found ways for the private sector to be able to bear the cost,” she said.

Aside from the 25 CoDMs earlier deployed in Metro Manila, another 25 will be deployed in other areas next year.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you agree with the Supreme Court’s decision on the law about VAT refund for foreign tourists? Apart from the VAT refund for foreign tourists, what problems that plagued the Philippine tourism industry should the government solve 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.

+++++

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 @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Vietnam Collects Over $9 Billion From Foreign Tourists In First Half Of 2026

July 13, 2026July 6, 2026carlocarrasco

Following its current success on attracting tourists from around the world during the first half of this year, Vietnam raked in $9 billion in the said period, according to a news report by VnExpress.

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

Vietnam collected more than US$9 billion from foreign visitors in the first six months, while Vietnamese spent $8 billion abroad in the same period.

The country recorded a tourism trade surplus of $950 million, compared with a surplus of $480 million in 2025 and a deficit of $380 million in 2024, according to the General Statistics Office.

Vietnam’s Party General Secretary and President To Lam, in a meeting with government bodies on Saturday, called for a more detailed analysis of the country’s services trade balance and urged the development of a strategy to rebalance Vietnam’s tourism sector in the coming years.

He said achieving a larger tourism surplus would require upgrading the industry so that international visitors spend more during their stays, while encouraging more Vietnamese travelers to choose domestic destinations.

The country welcomed nearly 12.3 million international visitors in the first six months, up 14.9% year-on-year.

Minister of Culture, Sports and Tourism Lam Thi Phuong Thanh said the government would continue efforts to develop tourism into a genuine key economic sector.

She said the mutually supportive relationship between tourism and related industries should be strengthened, with the sector shifting from a growth model focused on scale and visitor numbers to one emphasizing quality, higher value-added services, creative products, and distinctive travel experiences.

Vietnam’s tourism industry will also target higher-spending visitors and longer-stay travelers, she added.

Let me end this piece by asking you readers: What is your reaction to this development? With tourism booming in their country, do you think Vietnam can collect at least $20 billion from foreign tourists by the end of 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.

+++++

Vietnam Attracts 12.3 Million Foreign Tourists In 1st Half Of 2026

July 10, 2026July 4, 2026carlocarrasco

Tourism in Vietnam continues to boom as the nation attracted more than twelve million foreign tourists in the first half of this year, according to a news report by VnExpress.

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

Vietnam received 12.3 million international visitors in the first six months of the year, a 14.9% increase from the same period last year, fueled by the country’s reputation as a safe destination amid global geopolitical uncertainty.

In the second quarter alone, the number of foreign visitors to Vietnam reached 5.49 million, up 18.2% year-on-year, according to the General Statistics Office.

Mainland China remained the largest source of visitors so far this year with 2.69 million, followed by South Korea with 2.1 million. The rest of the top 10 were Russia, Taiwan, the U.S., Cambodia, India, Japan, the Phillippines and Australia.

The Vietnam National Administration of Tourism attributed the strong growth to the country’s reputation as a safe and stable destination amid global political uncertainty.

Let me end this piece by asking you readers: What is your reaction to this development? What do you think makes Vietnam very attractive to visitors from around the world? Have you thought about visiting Vietnam soon?

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

+++++

Japan To Raise Foreigners’ Residency Fees Significantly

July 9, 2026July 3, 2026carlocarrasco

In a clear attempt to cover the administrative costs resulting from the sharp increase of foreign residents in their country, Japan intends to raise foreigners’ residency fees significantly this year, according to a news article by Jiji Press.

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

Japan announced a draft cabinet order Friday to raise the fees for permission to change temporary residence status and extend the period of stay to up to 75,000 yen from the current 6,000 yen.

The new fees will range from 10,000 to 75,000 yen, varying depending on the length of the period, according to the draft, released by the Immigration Services Agency. The fee to obtain permanent resident status will jump to 200,000 yen from 10,000 yen.

The agency hopes to put the fee hikes into effect in October after a public comment period from Friday.

Let me end this piece by asking you readers: What is your reaction to this development? Do you think the planned hike of foreigners’ residency fees are justified and timely? Do you think the plan will deter Third World countries from sending their citizens to Japan as immigrants or as migrant workers? Do you think the hike of foreigners’ residency fees will take effect this October?

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

+++++

American Investors To Explore Mega Infrastructure, Energy Deals And Other Opportunities In The Philippines

July 4, 2026July 3, 2026carlocarrasco

Several business executives and investors from the United States are set to visit the Philippines next week to explore investment opportunities in the nation’s infrastructure sector, energy sector, and more, according to a news report by the Manila Bulletin. The American investors will engage with their Filipino counterparts during the planned 5-day trade mission.

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

More than 25 American business executives and investors will visit the country next week for a business mission as the United States (US) seeks to deepen its economic ties with the Philippines, which recently secured upper-middle-income status.

In a statement, the Department of Trade and Industry (DTI) said the US business delegation would mount a five-day trade mission across major economic areas in the Philippines from July 6 to 10.

The delegation includes business leaders and investors from the Northeast and Midwest regions of the US. The mission is organized by the DTI’s Philippine Trade and Investment Center (PTIC) in New York and the Philippine Consulates General in New York and Chicago.

The DTI said the business mission aims to strengthen economic ties between the two longtime trade partners while also encouraging US companies to invest more in the country’s growing economy.

Based on the latest country income classifications of the World Bank, the Philippines has moved up from lower-middle-income to upper-middle-income status. This was based on the country’s gross national income (GNI) per capita estimate for 2025, which reached a record $4,850.

The DTI noted that the upcoming visit also comes at a time when the Philippines is actively positioning itself as a key partner for US companies looking to expand in Asia.

During the business mission, the US delegation will meet with Philippine government leaders and local business owners to explore business, tourism, and investment opportunities.

The US business leaders will also attend business meetings, informational briefings, and tours of key economic areas in Manila, Clark, Subic, and Corregidor.

Let me end this piece by asking you readers: What is your reaction to this development? Do you see a promising future between the United States and the Philippines when it comes to economics and investment under the leadership of US President Donald Trump? Are you convinced the corruption within the Philippines is no longer a turn-off for American investors?

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

+++++

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 @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Higher Departure Tax And Visa Fees In Japan Implemented

July 3, 2026July 2, 2026carlocarrasco

Since July 1, the departure tax in Japan has been raised significantly covering both Japanese and foreign travelers in what is clearly a move to fund measures against the rising number of issues related with the surge of inbound tourism, according to a news report by Kyodo News. At the same time, visa fees were also raised dramatically.

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

The Japanese government on Wednesday tripled the departure tax to 3,000 yen ($18) per person to fund measures against issues arising from the surge in inbound tourism.

Fees for foreigner visitors who need visas to enter Japan were also hiked on Wednesday, rising fivefold to 15,000 yen for single-entry and 30,000 yen for multiple entries. Meanwhile, on the same day, the government reduced passport application fees for Japanese nationals to make up for the added burden from the departure tax.

The tax is collected through travel ticket purchases, regardless of the passenger’s nationality. The government will use the tax income primarily to finance measures aimed at easing congestion, such as setting up designated areas at popular photo spots that are often crowded with foreign tourists.

It will also support regional tourism initiatives, such as turning local railways into tourist attractions and renovating station buildings, in an effort to attract visitors away from heavily congested areas.

Travelers transiting through Japan and staying less than 24 hours in the country, as well as children under the age of 2, are exempt from the tax. Passengers who purchased their travel tickets by Tuesday were charged the original departure tax of 1,000 yen.

Known officially as the international tourist tax, it raised about 49 billion yen in fiscal 2025 ended March and is expected to generate around 130 billion yen in fiscal 2026.

The tax is collected by airlines, cruise lines and travel agencies upon purchase of air and sea tickets departing Japan and remitted to the government, according to the Japan Tourism Agency.

The hike in entry visa fees was the first increase since 1978.

Foreign Minister Toshimitsu Motegi said earlier the fees were raised to reflect inflation and the yen’s depreciation, and that the move is not expected to have an immediate impact on inbound tourism.

Japan’s visa fees had been considered low compared with those charged by other Group of Seven countries.

Let me end this piece by asking you readers: What is your reaction to this development? What can you say about the hiked fees regarding Japanese visa and the departure tax? Do you plan to visit Japan very soon?

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

+++++

Illegal Alien In America Sentenced To 8 Years In Prison Over $89 Million Fraudulent Payroll Scheme

July 2, 2026July 1, 2026carlocarrasco

There is no denying the fact that fraud and other forms of crime went up in the United States whenever illegal aliens get involved. Recently an illegal alien was sentenced to eight years in prison for his involvement in an $89 fraudulent payroll scheme that saw illegal alien construction workers and their employers evade taxes, according to a news report by Breitbart. The convicted illegal alien criminal is from Honduras.

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

An illegal alien has been sentenced to eight years in federal prison for his involvement in an $89 million fraudulent payroll scheme that saw illegal alien construction workers and their employers evade taxes.

“Today, we held an illegal alien from Honduras accountable for a brazen scheme that stole more than $38 million from American taxpayers to facilitate the employment of illegal aliens,” Assistant Attorney General Colin McDonald said.

“This case exposes how unchecked illegal immigration fuels widespread payroll tax fraud and underground economies that harm American workers and taxpayers,” McDonald said. “This sentence sends a strong message: Those who exploit our open borders, cheat the U.S. Treasury, and violate federal laws will face justice.”

Department of Justice (DOJ) officials detailed how the illegal alien helped operate the payroll scheme through several maneuvers to ensure that illegal construction workers were kept off the books:

According to court documents and statements made in court, from 2015 to 2022, Mario Flores, of Honduras, an illegal alien, conspired with others to create a series of shell companies to run an unlicensed check cashing and cash courier service business. These shell companies cashed approximately $89 million in checks from subcontractors in the construction industry, charging them a percentage of the dollar amount of the checks they cashed as a fee for this service. Through this scheme, construction contractors and subcontractors paid their workers in cash without withholding and paying required payroll taxes, allowing them to operate without regard to the workers’ legal authority to work in the United States. Flores also caused the filing of false tax documents with the IRS to conceal the scheme.

…

In addition, Flores and his conspirators defrauded workers’ compensation insurance companies by leasing their certificates of insurance to contractors and by providing false and fraudulent information to the insurers about, among other things, the number of workers covered by the insurance and the amount workers were paid.

“Homeland Security Investigations is committed to protecting the integrity of our financial system and enforcing our nation’s laws,” HSI’s John Condon said. “Those who orchestrate large-scale payroll tax fraud and facilitate the illegal employment of unauthorized workers will be held accountable.”

Flores pleaded guilty to one count of conspiracy to defraud the U.S. government and one count of conspiracy to operate an unlicensed money transmitting business.

Let me end this piece by asking you readers: What is your reaction to this development? Do you think America still has a lot more illegal aliens working in construction and committing fraud to this day? Do you think illegal aliens are obsessed committing fraud and harming American workers and taxpayers?

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

+++++

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 @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

ANZ Research Slashes Philippines Economic Growth Forecasts

July 1, 2026June 24, 2026carlocarrasco

It seems that economic disappointment lack of breakthroughs will keep hounding the Philippines in the short term as ANZ Research slashed its economic growth forecasts for 2026 and 2027, according to a BusinessWorld news report.

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

THE PHILIPPINE ECONOMY could see its weakest post-pandemic growth this year as last year’s corruption controversies continue to weigh on confidence, compounded by accelerating inflation and rising interest rates amid the Middle East conflict, ANZ Research said.

In its latest outlook for the third quarter, the New Zealand-based think tank slashed its 2026 gross domestic product (GDP) growth forecast for the Philippines to 3.9% from 4.7%.

It likewise cut its growth outlook for 2027 to 5% from 5.6% previously.

“The Philippines’ outlook is more constrained by weak household and business confidence, elevated inflation, and higher interest rates,” ANZ Research Chief Economist for Southeast Asia and India Sanjay Mathur said on Tuesday.

Economy, Planning, and Development Secretary Arsenio M. Balisacan said on Monday that the economy may grow by 3.5-4.5% this year, due to underspending and the fallout from the US-Iran war.

ANZ’s projections are below the government’s original targets of 5-6% for this year and 5.5%-6.5% next year. The Development Budget Coordination Committee has yet to release revised macroeconomic assumptions.

For 2028, ANZ sees the Philippine economy expanding by 5.5%, still below the government’s 6%-7% goal for the year.

Mr. Mathur noted that the weaker outlook also reflects expectations that lingering governance issues from last year’s flood control mess will prevent any significant rebound in public spending.

“Public spending likely bottomed in (the first quarter of) 2026, but a material recovery is unlikely until governance issues surrounding infrastructure projects are fully resolved,” he said.

In the first quarter, government spending grew by 3.22% year on year to P1.491 trillion from P1.444 trillion. It slightly improved at end-April after rising by 5.12% to P1.996.2 trillion from P1.899 trillion a year ago.

In late 2025, a flood control corruption scandal involving Public Works officials, private contractors and lawmakers took a major toll on public and business sentiment and dampened investments and government spending. This dragged the economy to its weakest growth since the COVID-19 pandemic at 4.4% last year from 5.7% in 2024.

“The Philippines stands out with negligible fiscal support, reflecting tight fiscal constraints and legal rigidities in fuel and utility pricing,” Mr. Mathur said.

Let me end this post by asking you readers: What is your reaction to this recent development? Are you convinced that the national economy will not achieve 6% growth rate during the final years of the Marcos administration? Do you think the administration’s hosting of the ASEAN Summit and participation in a big meeting with Vladimir Putin in Russia will not result in economic breakthroughs for 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.

+++++

First Pig Kidney Transplant Trial In Japan Could Happen As Early As 2028

June 30, 2026June 29, 2026carlocarrasco

Clinical trials of pig kidney transplants to humans could start as early as 2028 in two specific hospitals in Japan, according to a news report by Kyodo News. This one-of-a-kind development, if successful, could help Japan address the shortage of organ donors.

It should be recalled that a recipient of a pig kidney in the United States survived a record-breaking 271 days before the organ had to be removed. Over a hundred thousand people in America are currently waiting for organ transplants and most of them in need of kidneys.

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

A Japanese startup said Monday it will conduct clinical trials of pig kidney transplants to humans at two hospitals as early as 2028, which if successful would likely make them the first of their kind in the country.

It is hoped that organ transplants from pigs to humans will address the shortage of organ donors in Japan. Pig kidney transplants have previously been carried out on a trial basis in the United States and China.

According to the Meiji University venture, PorMedTec, the kidneys, which have been genetically modified to prevent organ rejection, will be transplanted at Hokkaido University Hospital in Sapporo and Shonan Kamakura General Hospital in Kamakura, Kanagawa Prefecture.

“We want to lay the foundation of xenotransplantation in Japan,” Hiroshi Nagashima, a Meiji University professor and representative director of the company, said in a press release, referring to the surgical transfer of non-human animals’ organs to human recipients.

The startup imports genetically modified pig cells developed by U.S. biotechnology company eGenesis Inc. and produces pigs with the same features in Japan. The genes of the animal have been modified in 69 areas to prevent organs from being rejected by recipients’ bodies.

The Japanese firm said it will finalize plans for the clinical trial and hopes to promote the widespread use of the treatment for patients with severe kidney failure once manufacturing and marketing approval is granted.

Let me end this piece by asking you readers: What is your reaction to this development? What is the first thing you think of when it comes to transplanting animal organs into human bodies? Are you concerned that kidneys from pigs are not 100% compatible with humans? How many members of your local community suffer from kidney-related problems?

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

+++++

S&P Global Slashes Philippines GDP Growth Forecast

June 29, 2026June 24, 2026carlocarrasco

In its latest analysis and assessment, S&P Global predicts weaker gross domestic product (GDP) growth for the Philippines at 4.1% this year, according to a news report by BusinessWorld.

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

The economic drag from the Middle East-war driven oil shocks and last year’s flood control mess fallout could slow the Philippines’ growth to 4.1% this year, S&P Global said.

In its latest economic outlook for Asia-Pacific, the debt watcher cut its gross domestic product (GDP) growth forecast for the Philippines to 4.1% for this year, from 5.8% previously.

S&P Global Asia-Pacific Chief Economist Louis Kuijs and Senior Economist Vishrut Rana noted that the Philippines emerged as a laggard in the region, which was largely resilient at the start of the year.

“Asia-Pacific economic growth largely held up in early 2026. In the first quarter, GDP growth met or exceeded expectations in most economies, with generally solid contributions from both exports and domestic demand,” Mr. Kujis and Mr. Rana said.

“However, growth significantly lagged expectations in the Philippines, where the energy shock combines with a sharp reduction in public infrastructure spending related to misutilization of funds,” they added.

In the first quarter, the economy unexpectedly grew by 2.8%, its weakest growth since the COVID-19 pandemic, due to spiraling oil prices and the lingering effects of last year’s corruption scandal.

The S&P economists noted that countries in the Asia-Pacific, including the Philippines, are heavily reliant on oil imports from the Middle East, which made them vulnerable to disruptions in the region’s key energy facilities and the Strait of Hormuz.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the government has any plans to stimulate economic growth? Do you see the GDP of the Philippines growing at a slower rate over the next several quarters? Do you think the economic managers of the current administration should be replaced?

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

+++++

	J.A. Pipes ✅ on US Treasury Department Prevent…
	Catherine is not com… on US Treasury Department Prevent…
	Instapundit »… on Trump Administration Trashes B…
	RICK YARNELL on Japan To Raise Foreigners’ Res…
	Instapundit »… on Japan To Raise Foreigners’ Res…

Share this:

Share this:

Share this:

Share this:

Share this:

Share this:

Share this:

Share this:

Share this:

Share this: