Southeast Asia – Page 63 – Author Carlo Carrasco

Economy of the Philippines to keep growing above 6% in 2024 and 2025

November 1, 2024October 24, 2024carlocarrasco

Recently, an economist predicted that the economy of the Philippines will keep growing above 6% this year and next year, 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…

The Philippine economy is expected to remain one of the fastest growing economies in the region, with growth likely settling at above 6 percent for 2024 and 2025.

In his economic and market outlook released on Tuesday, BPI senior vice president and lead economist Emilio Neri Jr. said economic growth will likely hit 6.1 percent this year and further accelerate to 6.3 percent in 2025.

“The Philippine economy has been resilient despite significant headwinds like severe El Niño and devastating typhoons, still managing to grow by 6% in the first half of 2024,” Neri said.

“Looking ahead, the Philippine economy will likely continue to outperform in the region, supported by its strong consumer base,” he added.

Neri expects headline inflation to ease to 3.2 percent in 2024 and further decelerate to 2.8 percent in 2025.

“Inflation is expected to be more manageable in the coming year given the improving prospects of food supply. With El Niño now behind us and the potential increase in production, along with tariff reductions, rice may become more affordable,” he said.

Neri said lower inflation may help boost consumption in the coming year, while election-related spending could also further stimulate economic activity.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the economy of the Philippines has enough momentum to exceed the growth forecasts of the economists for 2024 and beyond? Do you think the Philippines can do a better job on attracting more foreign investors 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.

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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

Las Piñas City Councilor Santos asks DENR to authorize P103.8 billion Las Piñas-Parañaque reclamation plan

October 31, 2024October 24, 2024carlocarrasco

In recent times, Las Piñas City Councilor and congressional candidate Mark Santos formally asked the Department of Environment and Natural Resources (DENR) to authorize the Las Piñas-Parañaque Coastal Bay Reclamation Project of the national government which is worth over P100 billion, according to a Manila Standard news report.

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

Las Piñas City Councilor and congressional candidate Mark Anthony Santos asked the Department of Environment and Natural Resources (DENR) to authorize the P103.8-billion Las Piñas-Paranaque Coastal Bay Reclamation Project of the national government.

Santos said the clearance to proceed with the project remained unresolved by the members of DENR’s Protective Area Management Board, despite the SC decision three years ago.

“The status of the project remains at the detailed engineering stage,” he said.

Santos said that in an en banc decision on Oct. 21, 2021, the Supreme Court, voting 11-2, approved the reclamation project of around 530 hectares of the Manila Bay coastline in Las Piñas- Parañaque, ruling that the supposed threat to environment was not sufficiently established.

Alltech Contractors proposed the project to develop 321.26 hectares of land in Las Piñas and 174.88 hectares in Parañaque, both along the coastline of Manila Bay in 2009. The Philippine Reclamation Authority approved the project in 2010 subject to compliance to environmental rules.

Alltech submitted an amended environmental performance report management plan (EPRMP) in December that year and expanded the project to cover 203.43 hectares in Parañaque and 431.71 hectares in Las Piñas.

The DENR-Environmental Management Bureau issued the environmental compliance certificate (ECC) for the project In March 2011, after Alltech Contractors submitted scientific and expert studies that assessed the potential flooding and flushing impact that may arise from the coastal bay project.

The SC decision suggests that the city government of Las Piñas may proceed with the reclamation project despite residents’ objections, said Santos.

Santos said the city councils of Las Piñas and Parañaque issued the corresponding resolutions authorizing their respective city mayors to explore the proposal under a joint venture agreement (JVA).

The cities of Las Piñas and Parañaque eventually accepted Alltech’s proposal, and the parties executed their respective JVAs, he said.

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? Do you think it is high-time for the reclamation in Las Piñas to proceed?

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

Man arrested in Parañaque City for stealing motorcycle and carrying a replica gun

October 31, 2024October 21, 2024carlocarrasco

Recently in the city of Parañaque, a man who stole motorcycle was arrested by the police who in turn responded to a victim who sought their assistance, 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…

A drug suspect was arrested by patrolling members of the Parañaque city police Substation 2 on Sunday, October 20.

According to the Southern Police District (SPD), the suspect identified as alias “Oliver,” 33 ws arrested at around 1:10 a.m. along Roxas Boulevard, Southbound, Barangay Tambo, Parañaque City.

Investigation showed the victim, a female call center agent was seen by patrolling policemen who was frantically signaling for assistance.

The victim told police that she was threatened by the suspect with firearm and forcibly took her motorcycle.

The police said operatives from Substation 2 immediately responded and with the (victim’s) assistance was able to block and apprehended the fleeing suspect.

Recovered from the suspect were 20 grams of shabu worth P136,000, a replica .45 caliber pistol and the stolen motorcycle.

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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To lure younger investors, BPI Wealth to launch new mutual fund

October 29, 2024October 21, 2024carlocarrasco

BPI Wealth – the wealth management arm of the Bank of the Philippine Islands (BPI) – will establish a new mutual fund to lure in young and tech-savvy investors, according to a Manila Bulletin business news report.

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

Amid favorable conditions for long-term investments, the wealth-management arm of Ayala-led Bank of the Philippine Islands (BPI) will roll out before this year ends a new mutual fund eyeing young and tech-savvy investors.

BPI Wealth personal wealth head Irene Ang told a press briefing on Friday, October 18, that the forthcoming BPI Wealth Builder Multi-Asset Mutual Fund Inc. is expected to be approved “soon” by the Securities and Exchange Commission (SEC), which regulates mutual funds, for it to be sold to the public.

This first-of-its-kind balanced, global-based and peso-subscription and -redemption fund aims to convince millennials and the Gen X generation in the country to invest and prepare for their retirement, Ang said.

Among the innovative and unique features of this mutual fund include availability for a minimum of only P1,000; accessibility on BPI’s online platforms and accredited channels to conveniently open an investment account, monitor investments, and receive cumulative rewards and benefits at no extra cost; as well as an automated and automatic top-up system allowing additional investments of at least P100 monthly.

Ang is optimistic that up to P1-billion investments in their upcoming newest mutual fund would be “easy.”

BPI Wealth president and chief executive officer (CEO) Maria Theresa D. Marcial noted that among their investors, those who onboarded via digital channels continued to engage more regularly than branch-opened accounts.

“We should push more into digital initiatives,” said Marcial, who is spearheading BPI’s “Wealth Wellness Month” this October to promote financial inclusion and literacy as well as opportunities for small investors.

Marcial disclosed that as of end-September, BPI Wealth’s assets under management (AUM) rose to a new high of P1.4 trillion, from P1.2 trillion in end-2023.

On top of the earlier goal of 20-percent AUM increase for this year, Marcial said a further 15-percent growth next year will be “reasonable.”

BPI Wealth targets P3 trillion in AUM by 2026.

Marcial cited that while mutual funds and other assets experienced a roller-coaster ride of ups and downs during the past three years due to global financial conditions, the clarity in the ongoing monetary policy easing here and abroad this year has improved prospects.

“We’re seeing markets becoming more buoyant, and fund managers are becoming more constructive across asset classes,” she said.

“Bonds are expected to do better, as interest rates go lower. And because interest rates are lower… so [in] equity we’re seeing some renewed interest,” she added.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think BPI Wealth’s newest move makes a lot of sense with today’s economic environment? Do you think a lot of millennials are willing to engage in investments?

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 in Parañaque City for posing as NBI agents, grave threat and extortion

October 29, 2024October 21, 2024carlocarrasco

Recently in the city of Parañaque, three men who pretended to be agents of the National Bureau of Investigation (NBI) got arrested by the police for extortion, grave threat, malicious mischief and the usurpation of authority, according to a Manila Bulletin news report. The three suspects were also responsible for a previous attempt to extort money from a Parañaque spa while pretending to be working for the NBI.

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

Three men who posed as agents of the National Bureau of Investigation (NBI) and attempted to extort P100,000 cash from the owner of a food store were arrested by members of the Parañaque police Tambo Substation on Saturday, October 19.

The Southern Police District (SPD) identified the suspects as alias “Bernard,” 44, alias “John,” 29, both businessmen, and alias “Lenon,” 24.

The SPD said the suspects were arrested around 3:00 a.m. at a food store located in Aseana I Building, E. Cuenco, Barangay Tambo.

The police said the suspects reportedly entered the establishment and presented a fraudulent search warrant alleging that the store was selling illegal tobacco and cigarettes.

The suspects threatened the 19 year-old store cashier and demanded that the store owner pay P100,000 cash to avoid penalties for selling illegal tobacco products.

The police said Aseana security guards were alerted and intervened when they noticed the commotion inside the food store while the suspects were dismantling the store’s CCTV camera.

Members of the Tambo police substation who were near the area were called for police assistance and upon verification, the suspects were found to be fake NBI agents.

During investigation, the police said Atty. Joseph Eufemio S. Martinez, Deputy Chief of Staff, Office of the Deputy Director for Operations Supervising Agent, National Capital Region (NBI-NCR), National Bureau of Investigation, said that the arrested suspects are not member of the agency.

The police also found that the same suspects had previously attempted to extort money from a spa in Parañaque City on September 1, 2024 by posing as NBI agents and threatening the business owner.

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 be more individuals who would visit local businesses pretending to be NBI agents and make grave threats as they extort money? If you are a local business owner, did you encounter the same suspects in the news report?

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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All 9 barangays in Muntinlupa City pass standards for Violence Against Women and Children (VAWC) desks

October 28, 2024October 17, 2024carlocarrasco

Recently in the progressive City of Muntinlupa, all of the nine barangays successfully passed the standards for Violence Against Women and Children (VAWC) desks, 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…

All the nine barangays in Muntinlupa have passed the standards under the law for their VAWC (Violence Against Women and Children) desks.

“Congratulations to all barangays of Muntinlupa for achieving 100% compliance with our VAWC (Violence Against Women and Children) desk standards!” said Muntinlupa Mayor Ruffy Biazon.

Under the standards, he said, the functionality of each barangay was assessed based on policies, personnel, resources, planning and budgeting, implementation, good practices, and regular submission of reports.

“At talagang commendable ang bawat barangay for having met these standards (And each barangay is really commendable for having met these standards),” he said.

Under a memorandum circular issued in 2023 by the Department of the Interior and Local Government (DILG), VAWC) is defined as “any act of or a series of acts committed by any person against a woman who is his wife, former wife, or against.a woman with whom the person has or had a sexual or dating relationship, or with whom he has a common child, or against her child whether legitimate or illegitimate, within or without the family abode, which result in physical, sexual, psychological harm or suffering, or economic abuse including threats of such acts, battery, assault, coercion, harassment or arbitrary deprivation of liberty.”

These acts include physical violence, sexual violence, psychological violence and economic abuse. Biazon lamented the violence happens inside a household.

“Pero naririto ang City Government at mga barangay to ensure that women and children have somewhere to turn to for help. Tinitiyak natin na meron laging tutugon sa kababaihan at kabataang humihingi ng saklolo (But the City government and barangays are here to ensure that women and children have somewhere to turn to for help. We ensure that someone will respond to women and children who seek help),” the mayor said.

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 having a VAWC desk in your barangay will be helpful? What is the first thing that comes to your mind whenever you think about the VAWC

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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LGBTQ member arrested in Las Piñas City for child abuse

October 27, 2024October 17, 2024carlocarrasco

Recently in the City of Las Piñas, police officers arrested a person identified with the LGBTQ (lesbian, gay, bisexual, transgender and queer) community over the charge of child abuse, according to a Manila Bulletin news report. The law enforcers carried a warrant of arrest issued by a certain branch of the Las Piñas City Family Court.

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

A member of the LGBTQ community was arrested by the Las Piñas City Police for child abuse on Wednesday, October 16, Las Piñas Police chief PCol. Sandro Tafalla said.

The suspect was identified as “Butchoko,” 42. He was arrested at around 4:45 p.m. in Barangay Talon Uno, Las Piñas City.

Tafalla said the suspect was tagged as Top 6 most wanted person under the station level for the month of October in violation of Republic Act 7610 or the Special Protection of Children Against Abuse, Exploitation, and Discrimination Act.

Butchokoy was arrested by virtue of warrant of arrest issued by Judge Mildred Jacinto Marquez Balmaceda of the Las Piñas City Family Court Branch 2 on September 9, 2024, with a P200,000 recommended bail.

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 there could be more children within the city who got abused? Are you concerned that child abuse incidents were not reported as crimes locally?

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

Destination of the Year award for 2023 goes to Subic Bay

October 26, 2024October 16, 2024carlocarrasco

Recently the Subic Bay Metropolitan Authority (SBMA) got recognized yet again in the field of sports tourism as it won the Destination of the Year award for 2023 during the 6^th Philippine Sports Tourism Awards, according to the social media announcement via the FUNtastic Subic Bay Facebook page.

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

We’re thrilled to announce that Subic Bay has once again been recognized as the 𝑫𝒆𝒔𝒕𝒊𝒏𝒂𝒕𝒊𝒐𝒏 𝒐𝒇 𝒕𝒉𝒆 𝒀𝒆𝒂𝒓 (for 2023) at the prestigious 6th Philippine Sports Tourism Awards!

*From the post of FUNtastic Subic Bay on Facebook.*

This marks our fourth win, following our previous victories in 2019 for Sports Tourism Destination Marketing of the Year, 2018 for Event of the Year (International), and 2017 for Destination of the Year.

We extend our heartfelt gratitude to our Chairman and Administrator Engr. Eduardo L. Aliño, the SBMA Board of Directors, the SBMA working group, our partner organizers, and all our stakeholders for their unwavering commitment to making Subic Bay a premier sports tourism destination. This achievement is a testament to our collective efforts. Congratulations to all of us!

I personally have visited the Subic Bay Freeport Zone (SBFZ) from time to time since 1994. I have witnessed how much Subic Bay evolved as a tourism destination, a shopping destination as well as a special events destination. The tourism team of the SBMA has a long track record of sports tourism development and the hosting of many kinds of sports events. That being said, it is not surprising to me that the SBMA won another sports tourism award.

For the newcomers reading this, Subic Bay was the host venue of selected events of the 2019 Southeast Asian Games (SEA Games). Each year, Triathlon Philippines (TriPhil) organizes the Subic Bay International Triathlon (SuBIT) there.

Let me end this post by asking you readers: What is your reaction to this recent development? Have you been touring Subic Bay recently? Did you ever attend a sports event held in the Subic Bay Freeport Zone?

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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Small groups from POGOs moving into residential areas

October 25, 2024October 16, 2024carlocarrasco

The nationwide ban on Philippine Offshore Gaming Operators (POGOs) is arguably working. That being said, the National Bureau of Investigation (NBI) stated that the POGOs have been forming smaller groups which have moved into residential areas to secretly operate, 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…

Philippine Offshore Gaming Operators (POGOs) appear to be trying to evade the authorities by forming smaller groups and setting up in residential areas, the National Bureau of Investigation said amid a raid on a group of alleged scammers.

In a report by John Consulta on 24 Oras on Tuesday, 17 foreigners were arrested in the raid on a residential unit in Makati City. They were caught at their workstations for alleged scamming activities, including love scams and crypto scams.

“Pag nakakuha sila ng pool of information, magko-conduct sila ng background investigation kung sino ang target nila. Pag nakita nila yung pattern, yung character, yung hobby, yung daily activities at the same time yung longings ng kanilang victims, ie-engage nila through social engineering,” said National Bureau of Investigation (NBI) Cybercrime Division Chief Jeremy Lotoc.

(When they get a pool of information, they will conduct a background investigation on their target. When they see the pattern, the character, the hobby, the daily activities, and at the same time the longings of their victims, they will engage through social engineering.)

“Merong hacker, merong buyer ng data. May nakita kaming program-coded script na pwede magamit to access other systems without the authority nor consent of the system owner we assume meron silang activity in terms of hacking,” Lotoc added.

(There is a hacker, and there is a buyer of data. We found a program-coded script that can be used to access other systems without the authority or consent of the system owner. We assume they have activity in terms of hacking.)

The National Bureau of Investigation (NBI) said they are from big Philippine Offshore Gaming Operator (POGO) companies.

“Yung malalaking POGO, nag-group sila into smaller group, nag-o-occupy ng residential units, apartments, para hindi mahalata na POGO, yun pa rin. To continue their scamming activities,” said NBI Director Jimmy Santiago.

(These big POGOs form smaller groups and occupy residential units so that they can’t be detected. Then they continue their scamming activities.)

The NBI is already examining the computers to obtain the details of their victims, while an inquest has already been conducted on those arrested and they are facing online fraud complaints and the violation of the Cybercrime Prevention Act.

Let me end this post by asking you readers: What is your reaction to this recent development? Are you concerned that there could be these small POGO-related units secretly operating within the residential communities near you? Has there been a raid in your local community in connection with POGOs, scamming and hacking?

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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