Monthly Archives: August 2015

Economy

VALUE OF PHILIPPINE PESO AT ITS LOWEST IN 5 YEARS, AQUINO SAYS IT’S NOT HIS FAULT

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CaptureMANILA, Philippines ( The Adobo Chronicles® ) – The Philippine peso dropped to its lowest level since 2010, the year when President NoyNoy Aquino first came into office.

On Wednesday, the peso breached the 46 to the $1 to close at $46.26: 1. It was down from Tuesday’s level of 45.93: $1

In his State of the Nation Address (SONA) just last month, Aquino bragged about the accomplishments of his administration, including booming infrastructure, increased foreign investments in the country, decline in the number of Filipinos seeking overseas employment, among other things.

Aquino is known for taking credit for all things that are positive about the country, but also for blaming his predecessor for all that were negative.

The decline in the value of the Philippine peso does not bode well for the image that he is trying to project for his administration, but he was quick to say that this wasn’t his fault.  He blamed China for being first in devaluing its yuan currency.

China’s currency fell to a four-year low on Wednesday, slumping for a second day, after a central bank devaluation on Tuesday, and government sources believe the yuan may be allowed to slide even further to help the country’s exporters.

In addition to China, Aquino also blamed the governor of the Bangko Sentral Ng Pilipipinas ( Central Bank of the Philippines) for not doing a good job in maintaining the value of the peso.

 

 

International, Travel

PRESIDENT AQUINO VERY DISAPPOINTED PHILIPPINES ONLY RANKS 9TH AMONG COUNTRIES WITH WORST TRAFFIC

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imageMANILA, Philippines (The Adobo Chronicles® ) – The New Darling of Asia, Asia’s New Rising Tiger, the Next First World Country, Social Media Capital of the World. These are just some of the honors and distinctions that the Philippines has achieved under the administration of President NoyNoy Aquino.

The president would not settle for anything but Number One.

So one can imagine how Aquino is very disappointed — no, furious — that his country only ranked Number 9  in a world survey of countries with the worst traffic.

According to a report made by Numbeo, a Serbia-based research firm, the Philippines is ranked 9th in countries with the worst traffic in the whole world and ranked 4th in Asia. The study done compared 88 countries where each was computed with a “traffic index” that was used for comparison and ranking.

Aquino is calling an emergency meeting this morning with his Transportation Secretary, the head of  the Philippine National Police and the General Manager of MRT, Metro Manila’s  embattled Light Railway System, to develop a strategy to make traffic worse in order for the country to gain the top spot in the next world traffic survey.

“If we need to follow the crooked path to achieve this, then so be it, ” Aquino said, in reference to his administration’s anti-corruption motto of “Daang Matuwid” (Straight Path).

International, Military

CHINA FINDS ALLY IN NEW PHILIPPINE NAVY CHIEF

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Taccad
Taccad

BEIJING, China (The Adobo Chronicles® ) –  China is saluting a new ally in its expansionist and illegal activities in the South China Sea: the newly-installed Philippine Navy chief!

Rear Admiral Caesar Taccad declared on Monday that Beijing is merely guarding its own interests and that no expansion is happening in the region.

“They have been there for a long time and they are guarding what they think is their interest in the South China Sea. No expansion is happening. They are just pursuing their interest,” he said.

Taccad made the remarks as he took over his new post at a ceremony on Monday.

China is involved in territorial disputes with the Philippines and other Asian countries over islands in the South China Sea, called The Spratlys.

Philippine President NoyNoy Aquino, who was present when Taccad made the remarks, was rendered puzzled and speechless.

Did Aquino appoint the wrong navy chief?