Here's the reason. The P500 is the banking system's denomination of choice for its ATMs.
For example, the newest kid in the block is the P200, which uses 20 different kinds of ink. Compare this with older denominations such as the P20, which is almost monochromatic.
Although there are eight denominations currently being circulated in the market, only six are still being printed by the Bangko Sentral. Although still legal tender, there are no more newly printed P5 and P10 paper bills. In their place are coins.
Mr. Santos will report for work daily at Business World starting next week, leaving him with less time for his tennis and his regional editing/communications clinics, which are, of course, denominated in dollars.
No, Mr. De la Rosa is not a La Sallite. But coming from the brand marketing group of Procter & Gamble and of General Foods, he does believe in brand differentiation.
In exchange, the restaurant's Italian owner promised to help plan Mr. Tan's tour of Italy behind what else a Ferrari. (The car, not the place, is one of Mr. Tan's still-to-be-fulfilled dreams).
As everybody knows, the Ferrari plant is also the hometown of tenor, Luciano Pavarroti.
Mr. Tan planned this grand vacation last year but has yet to take it.
You see, he resigned as president of United Coconut Planters Bank on a Tuesday and he was offered and accepted the job at PNB that same Saturday.
That empty lot is adjacent to the one hectare parking lot of the Bangko Sentral Security Printing complex, which is not for sale.