Category Archives: Finance

Business, Finance, Government, Law Enforcement, Media, Politics

Online News Source Rappler Shuts Down, Resurrects As A Stockbroker

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MANILA, Philippines (The Adobo Chronicles, Manila Bureau) – CEO Maria Ressa has finally given up on dealing with what she calls a “toxic sludge” on Facebook which has severely impacted the operations and credibility of her start-up online news source.

In an interview on CNN, Ressa revealed that the (Duterte) government has reclassified Rappler from a media organization to a dealer in securities (stockbroker).

It couldn’t be fake news, coming from Ressa herself.

Well, at least Rappler stays in business.  But first things first.  It must pay the back taxes the government says it owes as a stockbroker.

No worries, you will not miss any news.  You still can get it from Facebook, the toxic sludge.

 

 

 

Business, Finance, Government, International

Central Bank Issues Guidelines On The Use Of Chinese Currency In The Philippines

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E3EFAAA3-CCE2-4D1F-8291-15D1DCF0CCA5.jpegMANILA, Philippines (The Adobo Chronicles, Manila Bureau) – As reported by radyo.inquirer.net and retweeted by retired entertainer Jim Paredes, the Chinese currency, rinminbi, can now be used for transactions in the Philippines.

It was reported that this was among the many agreements signed by Philippine President Rodrigo Duterte and Chinese President Xi Jinping during the latter’s state visit to the country.

Today, Banko Sentral ng Pilipinas (Central Bank of the Philippines) issued preliminary guidelines on the use of Chinese currency in transactions within the country.

Initially, rinminbi can be used by local Filipinos to purchase the following items:

  • Siopao
  • Siomai
  • Hopia
  • Kikiam
  • Tikoy
  • Taho

The Central Bank said that more items will be added in the coming months.

 

Finance, Government, Social Media

House Of Representatives Cuts PCOO Budget By P5 Million

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2B17C053-DFA1-4B9F-8987-0061E53B988F.jpegMANILA, Philippines (The Adobo Chronicles, Manila Bureau) – The House of Representatives today cut the 2019 budget of the Presidential Communications Operations Office (PCOO) by P5 Million.

The announcement came just hours after Asec Mocha Uson announced her resignation from PCOO.

The hearing  on the proposed P1.4 Billion PCOO budget for 2019 was deferred in the House twice due to the absence of Uson.

Uson filed her resignation letter on September 28, citing the stalling of the budget of the Presidential Communications Operations Office at the House of Representatives as the reason.

“Recent events have put me in a position where I am being held responsible for Congress withholding the 2019 PCOO budget,” her resignation letter addressed to President Rodrigo Duterte read.

Sources at the House of Representatives told The Adobo Chronicles that PCOO could no longer justify its proposed 2019 budget now that Uson has resigned.

The Congressmen were insistent that they could not grant such a huge budget for an underperforming agency like the PCOO.

Asked how the Congressmen came up with the P5 Million figure for the budget cut, our sources said that the figure represents Uson’s 5 Million followers.