Category Archives: Finance

Philippine Banks Close For Hours On The Last Banking Day Of The Week!

MANILA, Philippines (The Adobo Chronicles, Manila Bureau) – Forget about the power outage at the Ninoy Aquino International Airport (NAIA), or the glitch that affected many account holders of GCash.

For almost three hours today, Friday — on the last banking day of the week — most of the major Philippine banks closed their doors to the anger and frustration of many of their customers.

Millions of Filipinos expected their weekday or mid-month paychecks but the bank closures prevented them from withdrawing their money. Millions of others expressed disgust that they could not take out cash from their ATMs for their weekend shopping.

The Adobo Chronicles’ investigative team traced the unexpected bank closures to “system outrage.”

Quite understandable.

GCash Glitch Converts Accounts To U.S. Dollars And British Pounds!

MANILA, Philippines (The Adobo Chronicles, Manila Bureau) – It was a hell of day for account holders with GCash, the popular online portal for financial transactions in the Philippines.

Many have complained about unauthorized cash in and cash out, with some saying that their cash was diminished to the point of zero balance.

But not all experienced the negative effects of the computer problem.

Some netizens posted screen shots of their GCash accounts, showing that their peso balances have been converted to U.S. dollars and British pounds.

GCash has launched an investigation into this suspicious account status.

When The Rich And Famous Become Beggars

LAS PIÑAS, Philippines (The Adobo Chronicles, Las Piñas Bureau) – The Philippine Center for Investigative Journalism is reporting that 5 companies owned by the Villar family are top delinquent taxpayers in Las Piñas. The companies owe the city over P200 million.

Documents show that the 5 companies are now asking for tax amnesties amount to some P71.6 million.

A classic case of the rich and famous turning beggars!