<Li> President Aquino III signs Executive Order 198 on the merger between two government - owned banks, The Development Bank of the Philippines (DBP) and The Land Bank of the Philippines (LBP). </Li> <Li> Hackers transferred funds from the Bangladesh Bank's account with the Federal Reserve Bank of New York to Rizal Commercial Banking Corporation which was later transferred to Philippine - based casinos . The money laundering case may potentially be the biggest documented case of money laundering the country if proven . </Li> <Li> February 18--Pepsi - Cola Products Philippines Inc. inaugurates its manufacturing plant for its snacks line including Cheetos, located in Cabuyao, Laguna . </Li> <Li> May 25--President Aquino III signed Republic Act No. 10846 amending the charter of the Philippine Deposit Insurance Corp . (PDIC) or the deposit insurance law . </Li>

List of current events in the philippines 2016