Category Archives: Finance

Coronavirus Aftermath: CBCP To Use PayMaya In Lieu Of Sunday Collection Baskets

MANILA, Philippines (The Adobo Chronicles, Manila Bureau) – The Diocese of Rome has canceled all public Masses until April 3 in response to the coronavirus outbreak. The announcement by the vicar general of the diocese, published Sunday evening, follows a decree by the Italian government suspending all public religious ceremonies.

With the advent of local transmission of COVID-19, the Catholic Bishops Conference of the Phiippines (CBCP) is expected to do the same for all Roman Catholic Churches throughout the country.

The cancellation of Sunday masses is expected to severely impact the Catholic Churches’ collections which is a major source of income.

But leave it to the entrepreneurial skills of the CBCP hierarchy to come up with alternative modes of collecting money from churchgoers.

Informed sources told The Adobo Chronicles that CBCP is now setting up PayMaya as an alernative to the Sunday collection baskets.

PayMaya is an online payment account that has an app where you can load up in convenience stores, pawnshops, and mall and can purchase anything online.

It’s business as usual!

Leni Robredo Says She Too Wants To Be Financially Independent

QUEZON CITY, Philippines (The Adobo Chronicles, Quezon City Bureau) – Philippines’ Vice President Leni Robredo told The Adobo Chronicles today that like Great Britain’s Royal Couple Harry and Meghan, she too wants to be “financially independent.”

Robredo was reacting to the shocking news that the Duke and Duchess of Sussex have decided to “step back” from their Royal duties and receive no funding from the Monarchy.

Asked how exactly she’d go about it, Robredo said she will voluntarily abdicate the half a million-peso budget of the Office of the President and return it to the national coffers. “I think it is not fair to the Filipino taxpayers that I’m spending their hard-earned money for doing nothing to help them and our country,” she said.

While the VP says she will continue her pet projects like “Angat Buhay,” she will rely on private donations from the country’s top Oligarchs as well as foreign sources.

Already, Robredo’s announcement has received praise from both sides of the aisle — the Yellowtards and the die-hard Duterte supporters.

Why Philippines’ Central Bank Is Issuing P20 In Coins

MANILA, Philippines (The Adobo Chronicles, Manila Bureau) – Starting in the last quarter this year, the Central Bank of the Philippines (CBP) is expected to issue a coin version of the twenty peso bill.

Officially, CBP is saying that the move will extend the denomination’s shelf life. The paper bill usually lasts for just a about a year before it succumbs to wear and tear. The coin, on the other hand, can last between 10 and 15 years.

Unofficially, a CPB spokesperson told The Adobo Chronicles the real purpose for the coins is to help Filipinos save more money. “Coins will encourage people to deposit into their piggy banks,” he said.

President Rodrigo Duterte supports the move, saying it complements his “Build, Build, Build” program.  He’s calling the coin issuance “Ipon, Ipon, Ipon.”