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Fitch Ratings Says Flood Control Corruption Scandal Imperils Philippines’ Credit Rating

December 23, 2025December 16, 2025carlocarrasco

It has been months since the flood control corruption scandal rocked the entire Philippines and the economic situation has turned for the worse along the way (click here, here and here). In the view of Fitch Ratings, the scandal puts the nation’s credit rating at risk, 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 Philippine economy continues to bear the brunt of the ongoing flood control corruption scandal, Fitch Ratings said, noting that further unrest could spill over to the country’s credit rating.

Fitch Ratings Head of Asia-Pacific Sovereigns Thomas Rookmaaker said the controversy surrounding the anomalous government flood control projects threatens the country’s political stability, fiscal policy implementation, as well as business and consumer confidence.

“We believe that the flood control corruption scandal in the Philippines poses an ongoing risk to political stability, fiscal policy execution, and business and consumer confidence,” Mr. Rookmaaker told BusinessWorld in an e-mail.

Government officials, lawmakers and contractors have been accused of getting billions of pesos in kickbacks from substandard or nonexistent flood control projects. This has triggered widespread protests, slowed government spending, and hurt investor and consumer sentiment.

“The overall impact the scandal will have on the Philippines’ public finances is still uncertain,” Mr. Rookmaaker said.

“Public investment spending is likely to remain weak for quite some time, but continued social unrest could simultaneously lead to spending pressures to head off public discontent.”

In October, government spending fell for a third straight month to P430.6 billion, down 7.76% from P466.8 billion a year ago. Revenues likewise slipped by 6.64% to P441.7 billion from P473.1 billion last year.

Mr. Rookmaaker noted that the immediate impact of the scandal was reflected in the sharp economic slowdown in the third quarter.

Philippine gross domestic product (GDP) expanded by an over four-year low of 4% in the third quarter, as household final consumption expenditure and government spending slowed amid the corruption mess.

For the first nine months, GDP growth averaged 5%, well-below the government’s 5.5-6.5% full-year target. Public investments likewise took a hit from the corruption issues, he added.

In the third quarter, foreign investment pledges approved by investment promotion agencies plunged by 48.7% to P73.68 billion, Philippine Statistics Authority data showed.

“Persisting social tensions could become more of a drag on growth if confidence among foreign and domestic investors suffers,” the Fitch analyst said. “Tensions could also serve as a distraction for policymakers, impeding the passage of reforms that have the potential to enhance economic productivity and competitiveness.”

Mr. Rookmaaker said implementing reforms to enhance accountability and governance could bolster private investments and promote growth in the medium term.

Let me end this post by asking you readers: What is your reaction to this recent development? Did you think Fitch Ratings is correct with its economic analysis of the Philippines and the flood control corruption scandal? Do you think foreign investors have been turned off by the scandals and social unrest?

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

Philippines Attracted Only 5.235 Million International Tourist Arrivals In January-November 2025 Period

December 23, 2025December 17, 2025carlocarrasco

Even though there already is a foreign tourism boom in Southeast Asia, the Philippines has literally been left behind by its neighbors as it attracted only 5.235 million international tourist arrivals for the period of January to November 2025, according to a news report by BusinessWorld.

For the newcomers reading this, the Philippines has been struggling throughout the year when it comes to attracting foreign visitors. In 2024, the Philippines attracted 5,949,350 foreign visitors which is way off the declared target of 7,700,000. A real estate advisory firm pointed to domestic travel as the key for the recovery of the nation’s tourism industry. Read my previous blog post by clicking here.

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

VISITOR ARRIVALS in the Philippines fell by 2.16% in the first 11 months, amid a decline in tourists from South Korea and China, Tourism department data showed.

Data from the Department of Tourism (DoT) showed international tourist arrivals dropped to 5.235 million in the January-to-November period from 5.35 million in the same period in 2024.

Of the tourist arrivals, the bulk or 4.918 million were foreign tourists, while the rest were overseas Filipinos.

South Korea remained the biggest source of tourists in the first 11 months, accounting for 21.66% of the total. While 1.134 million South Koreans visited the Philippines as of November, this was a 21% decline from the 1.436 million Korean tourists a year ago.

The US was the second-biggest source of tourists, at 894,835 or 17.09% of the total as of end-November. This was 6.57% higher than last year’s 839,635 tourist arrivals from the US.

Japan was the third-biggest source of tourists, accounting for 406,794 or 7.77% of the total, 15.36% up from 352,630 a year ago.

Tourist arrivals from Australia increased by 16.17% to 268,892 in the 11-month period. Meanwhile, tourists from China fell by 16.55% to 248,339 as of end-November.

The other top markets were Canada, Taiwan, the United Kingdom, Singapore, and Malaysia, which cumulatively accounted for 793,750 of the total arrivals.

“The weaker South Korean won amid a volatile political and economic situation over the past year and slower economic growth in China, which is the world’s second-biggest economy, on top of territorial disputes partly weighed on foreign tourism numbers,” Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

Mr. Ricafort noted that the government should improve infrastructure to make it more convenient for tourists to travel around the country.

“Challenges include the need to further expand and develop tourism-related infrastructure such as airports, seaports, accommodation facilities, and train systems, including the Metro Manila subway and toll roads,” he added.

Despite the decline in the first 11 months, Mr. Ricafort said that it is still possible for the country to surpass the tourist arrivals last year, which reached 5.949 million.

“It is still possible, considering some seasonal increase in foreign tourists during the Christmas holiday season, especially overseas Filipino workers and balikbayans, to spend the most festive time of the year, while others escape winter,” he said.

“A higher US dollar-peso exchange rate would make it cheaper for foreign tourists to come to the Philippines,” he added.

Meanwhile, Mr. Ricafort noted the growth in tourist arrivals from India and other countries, which helped “offset the decline in major traditional sources such as South Korea and China.”

India was the 11th biggest source of tourist arrivals in the January-to-November period, accounting for 85,885 or 1.64% of the total. Tourists from India increased by 17.06% from 73,369 arrivals in the same period in the previous year.

Earlier this year, the Philippines and India signed the Implementation Program on Tourism Cooperation for the years 2025 to 2028.

For his part, Colliers Research Director Joey Roi H. Bondoc said that with only 5.235 million as of end-November, it will be difficult for the country to even surpass last year’s arrivals.

“I think it will be very difficult… We may not be able to beat that or even meet that, but of course we want to end the year stronger,” he said in a phone interview.

“We see a lot of foreign tourists still in December because of the holiday season. Definitely that optimism should spill over to next year,” he added.

As for the drop in arrivals from South Korea, Mr. Bondoc attributed this to the economic downturn and political crisis in the country.

“If you look at some integrated casinos, they were initially targeting Koreans… so they are experiencing the pinch of slower arrivals from South Korea,” he said.

Mr. Bondoc said the Philippines should try to attract tourists from other markets.

For further insight about the tourism industry problem of the Philippines, watch the CNA Insider video below.

Let me end this post by asking you readers: What is your reaction to this recent development? Did you think the Philippines can still beat its 2024 record of international visitor arrivals and generate huge revenues for the economy? Do you think the current administration will be able to improve the nation’s infrastructure and make travel more efficient and convenient for all tourists? Do you think the Philippines is too expensive when it comes to air travel?

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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Kidnapped Chinese National Rescued In Parañaque City

December 22, 2025December 14, 2025carlocarrasco

Recently in the city of Parañaque, local authorities successfully rescued a kidnapped Chinese national and arrested the suspects who were involved, according to a news report by GMA Network.

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

A 26-year-old Chinese national was rescued in a condominium in Parañaque City after allegedly being kidnapped, the National Capital Region Police Office (NCRPO) reported Sunday.

In a statement, the NCRPO said authorities conducted a rescue operation after they received a report through the PNP Hotline Facebook page.

The victim was found in a condominium unit in Barangay Don Galo on Saturday with four male and one female foreign suspects.

Initial investigation showed that the victim had allegedly been detained since December 9, with suspects demanding P1 million for his release.

The victim said P500,000 had already been handed over. The suspects were placed under police custody for proper investigation.

Let me end this post by asking you readers: What do you think about this recent development? If you are a resident of Parañaque, do you consider kidnapping a serious crime? Has anyone in your local community been kidnapped over the past six months?

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 Land To Sell Alabang Town Center (ATC) Stake To Madrigal Family For P13.5 Billion

December 20, 2025December 18, 2025carlocarrasco

A new age for the famous Alabang Town Center (ATC) in Muntinlupa City will soon begin as the developer Ayala Land Inc. (ALI) will sell its 50% stake in Alabang Commercial Center Corp. (ACCC) to the Madrigal family in a deal with P13.5 billion, according to a Manila Bulletin business news report.

For the newcomers reading this, the ACCC is the private entity that owns and operates ATC. Already, it has been reported that the Madrigal family is talking with Rockwell Land Corp. about redeveloping the high-end Alabang mall.

*The front of Alabang Town Center along Madrigal Avenue.*

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

Ayala Land, Inc. (ALI) has agreed to sell its 50 percent stake in Alabang Commercial Center Corp. (ACCC), the entity that owns and operates the prominent Alabang Town Center mall in Muntinlupa City, back to the Madrigal family for ₱13.5 billion.

The real estate giant announced in a disclosure to the Philippine Stock Exchange that it executed a share purchase agreement with its existing joint-venture partner. The transaction is contingent on standard closing conditions.

“The unsolicited offer from our joint venture partner provided a premium, allowing ALI to recognize gains from the sale and monetize its stake in Alabang Town Center,” said ALI Chief Finance Officer and Treasurer Jose Eduardo A. Quimpo II.

He added that the “Proceeds from the sale will fuel further growth in our Leasing portfolio and provide our stakeholders with return of capital.”

In a separate statement, ALI said the deal allowed the company to realize “compelling value for the mature asset, crystallizing future earnings potential today.”

“This move is a deliberate execution of Ayala Land’s strategy to be a premier creator of value,” the company said. “It showcases a disciplined approach of developing assets, stabilizing their operations, and monetizing them at an optimal valuation to aggressively fund future growth and enhance shareholder returns.”

ALI President and Chief Executive Officer Meean B. Dy noted the firm’s strategic focus.

“Our strategy is focused on a dynamic cycle of value creation. We build, we stabilize, and we unlock value at the right time to fuel our next wave of innovation,” Dy said.

“This transaction is a prime example of that strategy in action. We are monetizing a legacy asset at peak valuation to accelerate the rollout of our expansive pipeline of commercial and retail spaces, which will define the Ayala brand of development for the next decade,” he added.

The proceeds from the sale are slated to be a key driver in funding ALI’s leasing pipeline, which includes nearly 700,000 square meters of new gross leasable area (GLA) over the next five years. This expansion is set to transform the commercial landscape in key growth centers across the Philippines.

Chinabank Capital Corp. Managing Director Juan Paolo Colet described the deal as “an opportunistic transaction that enabled Ayala Land to exit their joint venture with the Madrigal family at an attractive price. The company can readily use the cash for various projects in its growth pipeline.”

Colet noted that the future plans for the property remain uncertain.

“It remains to be seen what the Madrigal family will do with their prime commercial property. Given the price they paid, they would need to unlock more value from the asset. A major redevelopment might be on the table,” he said.

Situated adjacent to exclusive gated residential communities and active business developments, Alabang Town Center serves as a community anchor with multiple al fresco areas that contribute to a relaxed, homey atmosphere consistent with the local lifestyle.

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 the P13.5 billion deal will lead to a major redevelopment of Alabang Town Center in the near future? If you have visited the ATC before, how often do you visit the high-end shopping mall in Alabang? Do you feel confident the ATC will evolve and possibly expand under the control of the Madrigal family and Rockwell Land? Does Alabang Town Center’s current design and structure look old or outdated to you?

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

Three Men Arrested In Parañaque City Over Illegal Drugs Worth P2.1 Million

December 19, 2025December 12, 2025carlocarrasco

Recently in the city of Parañaque, local police officers organized a successful buy-bust operation which resulted in three men arrested and the seizure of illegal drugs worth more than P2 million, 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 men were nabbed and more than P2.1 million worth of suspected shabu were seized in a buy-bust operation in Parañaque City late Wednesday night, the Southern Police District (SPD) reported.

Authorities said the Station Drug Enforcement Unit (SDEU) of the Parañaque City Police conducted the operation at Unit 2908, 3rd Floor, Aguarra Street, Barangay Baclaran.

Arrested were 31-year-old alias “Olrac,” identified as a high-value target; 27-year-old alias “Rowelle”; and 43-year-old alias “Francis.” They were caught after allegedly selling illegal drugs to an undercover officer.

Recovered were 310 grams of suspected shabu with an estimated street value of P2,108,000, along with the marked money used during the operation.

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 the trafficking and trading of illegal drugs within the city will only get worse?

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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Almost 1,800 Las Piñas City Senior Citizens Receive 4th Quarter Social Pension Payout

December 18, 2025December 10, 2025carlocarrasco

Recently in the City of Las Piñas, almost one thousand and eight hundred senior citizens five barangays received their social pension payout for the 4^th quarter, the City Government confirmed via social media. Mayor April Aguilar personally attended the distribution.

To put things in perspective, posted below is an excerpt from social media post of the City Government (translated from Tagalog to English). Some parts in boldface…

The first day of Social Pension Payout was happily held, where almost 1,800 senior citizens from the barangays of Almanza Dos, Almanza Uno, Talon Dos, Daniel Fajardo, and Ilaya received their 4th quarter social pension.

Our seniors received 3,000 pesos (1,000 pesos per month) for the last quarter of the year. Payout was held at the air-conditioned Aguilar Sports Complex to ensure a comfortable and smooth flow of the program, especially for our seniors.

Mayor April Aguilar wants this pension to be given immediately to be used for their daily needs, and most of all, so they can have something to use this coming Christmas.

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? Did many senior citizens from your local community receive their social pension payout?

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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Two Wanted Chinese Nationals Arrested In Parañaque City Over Online Gambling

December 18, 2025December 11, 2025carlocarrasco

Recently in the city of Parañaque, elements of the Bureau of Immigration (BI) apprehended two Chinese nationals over their involvement in online gambling, according to a news report by the Daily Tribune. The suspects are fugitives wanted in China.

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

Two Chinese nationals wanted in their home country were arrested in Parañaque City for alleged involvement in running online gambling websites, the Bureau of Immigration (BI) reported Wednesday.

The BI identified the Chinese nationals as 38-year-old Wu Huifu and 48-year-old Li Yong. The BI’s Fugitive Search Unit took the two into custody during an operation in Barangay Tambo on Tuesday evening. Li is said to be an assistant of Wu.

The arrest followed information relayed by Chinese authorities, who said both men are subjects of arrest warrants.

According to BI Deputy Spokesperson Marvin Mabulac, the two have been operating multiple overseas online gambling platforms where they “manipulate betting systems to defraud players.” This, in turn, prolongs player activity and increases bets, which results in losses for participants and profits estimated at CNY8.6 million. The operation had already victimized around 500,000 players.

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 still be more Chinese criminals secretly operating illegal gambling within the city? Is online gambling affecting members of your local community?

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 Reminds Public About Rules On Modified Mufflers And Pipes In Vehicles

December 17, 2025December 9, 2025carlocarrasco

Recently in the progressive City of Muntinlupa, the City Government issued reminders to the public about the existing ban on the use of midwifed mufflers and pipes in vehicles, according to a Manila Bulletin news report. It is anticipated that noise will intensify in the city as the Christmas season goes on.

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

The Muntinlupa City government has reminded the public about the ban on the use of modified mufflers and pipes in vehicles.

The notice came from the Muntinlupa Traffic Management Bureau (MTMB), which said that the ban is based on City Ordinance No. 04-022 or the Muntinlupa City Traffic Code.

This Christmas season, many motorists in Muntinlupa are expected to celebrate it by using modified mufflers and pipes in their vehicles to produce loud noise.

“Paalala mula sa Pamahalaang Lungsod ng Muntinlupa: Mahigpit na ipinagbabawal ang paggamit ng modified muffler/pipe at iba pang illegal modifications sa mga sasakyan alinsunod sa City Ordinance No. 04-022, Article XV Section 85 ng Muntinlupa City Traffic Code (Reminder from the Muntinlupa City Government: The use of modified muffler/pipe and other illegal modifications to vehicles is strictly prohibited pursuant to City Ordinance No. 04-022, Article XV Section 85 of the Muntinlupa City Traffic Code),” the MTMB posted on Facebook.

Section 85 of the ordinance on Mufflers and Noise Controlling Devices states that “no person shall operate a motor vehicle on a street unless such motor vehicle is equipped, at all times, with a muffler or mufflers in constant operation and of sufficient capacity for the motor, and equipped with an exhaust system to prevent the escape of excessive fumes or smoke and unusual noise.”

The MTMB warned that violators will face a fine of P2,000.

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 a problem with noise pollution intensifying in the city during the Christmas season? Do you think the current laws of city are tough enough towards noise makers?

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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Two Construction Workers Arrested In Parañaque City Over Illegal Drugs

December 16, 2025December 9, 2025carlocarrasco

Recently in the city of Parañaque, local police officers successfully organized a buy-bust operation which resulted in the apprehension of two construction workers who possessed illegal drugs, according to a Manila Bulletin news report.

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

Authorities from the Parañaque City Police Station Drug Enforcement Unit (SDEU) conducted a buy-bust operation leading to the arrest of two construction workers in possession of P102,000 worth of shabu on Dec. 3.

The Southern Police District (SPD) said the suspects were identified as Tisoy, 27, and Niño, 33. They were arrested at around 8:10 a.m. at San Juan De Coastal, Barangay San Dionisio, Parañaque City.

The police said that members of the SDEU launched a buy-bust operation for the arrest of the suspects after receiving reports of their illegal drug activities in the said place.

Tisoy was caught in possession of seven grams of shabu, including the subject of sale, and Niño with four grams, totaling 15 grams worth P102,000.

The suspects were detained at the Parañaque City Police custodial facility and were charged with violations of Sections 5 and 11 of RA 9165.

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 thankful to the police for successfully arresting the suspects? Is there a serious illegal drug problem in your local community 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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November 2025 Philippines Inflation Lands At 1.5%

December 16, 2025December 8, 2025carlocarrasco

The inflation rate of the Philippines eased further this past November landing at 1.5%, according to a business news report by GMA News.

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

The country’s inflation rate slowed down in November 2025 on the back of slower increase in food costs during the period, the Philippine Statistics Authority (PSA) reported on Friday.

At a press conference, PSA Deputy National Statistician Divina Gracia del Prado said the overall inflation —which measures the rate of increase in the prices of goods and services— clocked in at 1.5%. This was slower than the 1.7% rate seen in October 2025.

November’s inflation rate brought the year-to-date national average to 1.6%, well within the government’s comfortable ceiling of 2% to 4%.

“Ang pangunahing dahilan ng mas mababang antas ng inflation nitong Nobyembre 2025 kaysa noong Oktubre 2025 ay ang mas mabagal na pagtaas ng presyo ng Food and Non-Alcoholic Beverages na may 0.1% inflation rate,” del Prado said.

(The main reason for the lower inflation rate in November 2025 versus October 2025 was the slower increase in the prices of Food and Non-Alcoholic Beverages with an inflation rate of 0.1%.)

The inflation rate for the heavily weighted index clocked in at 0.5% in October 2025.

The Food and Non-Alcoholic Beverages index contributed 85.3% to the country’s overall inflation print.

Meanwhile, food inflation —which tracks the price movements of food items in a “basket” commonly purchased by households— registered a negative rate of 0.3% from 0.2% in the prior month due to slower increase in vegetable prices at 4% from 16.4% month-on-month as well as the slowdown in the growth of meat prices at 4.2% from 5.2%.

Let me end this post by asking you readers: What is your reaction to this recent development? Did you think the nation’s inflation could slow down even more to as low as 1% by the end of December?

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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