Category Archives: Finance

Banko Sentral Ng Pilipinas Warns Against Fake VP Currency

91BA895A-E6F1-48B6-AF3E-E0468A4693DF.jpegMANILA, Philippines (The Adobo Chronicles, Manila Bureau) – The Banko Sentral Ng Pilipinas (Central Bank of the Philippines) has issued a warning to the Filipino public regarding a fake VP currency circulating on the Internet.

In a statement issued today, BSP categorically said that there are only six legitimate paper currencies now in circulation: P20, P50, P100, P200, P500 and P1000.

’The fake VP currency of P10,000 is not sanctioned by the bank,” a spokesperson said.

The fake bill features a photo of VP Leni Robredo saluting the Philippine flag.

Citizens are asked to immediately report to authorities should they encounter the fake VP.

Leni Robredo Wants Philippine Peso Replaced With The U.S. Dollar

6FC88363-659B-4AF6-B2A4-661C800941EC.jpegMANILA, Philippines (The Adobo Chronicles, Manila Bureau) – For someone who has recently been invited to speak at the London School of Economics, Vice President Leni Robredo sure has a lot to say about the economy, especially about the ‘sinking’ Philippine peso.

Just yesterday, Robredo asked the Duterte Administration and economic managers to explain why the value of the peso has dipped so fast and so low.

Today, she proposed that the Philippines replace its official currency with the U.S. Dollar.

”Since the U.S. Dollar is very strong, it would be to a great advantage for the Philippines and the Filipinos to shift to the American currency.  It will solve a lot of our economic problems and eliminate poverty in the country. It will truly result in ‘Angat Buhay’ “

If Robredo’s proposal is adopted,  Filipinos will soon all be spokening dollars!

Rappler Senior Managers Revolt Against CEO Maria Ressa

E17C13E0-883B-4E44-BAC0-7719F8AAFF2FMANILA, Philippines (The Adobo Chronicles, Manila Bureau) – It’s the best news one could ever receive: that someone just gave you P5 Million pesos.

That’s exactly what happened to 14 of Rappler’s senior managers who received the news that the online news source’s foreign investor, Omidyar Network, is donating its P78 Million investment to them – equally. 

But there is one problem: Omidyar’s investment has long been gone.  Rappler has failed financially and has used up all the investment money.

That’s very depressing for Rappler’s 13 senior managers (Ressa is the 14th).  So they are planning to stage a protest rally tomorrow in front of Rappler’s officers to demand an accounting of funds — local and foreign.

More trouble for an already-troubled Rappler.