Category Archives: Economy

Senator Bam Aquino Proposes One-Time 14th And 15th Months Pay

MANILA, Philippines (The Adobo Chronicles, Manila Bureau) – In preparation for the start of the campaign period for next year’s national and local elections, Senator Bam Aquino has urged Congress to pass a bill granting employees a one-time only 14th and 15th months pay.

Many will recall that proposals for a 14th month pay have been pending in both the House of Representatives and the Senate.

Aquino’s proposal will combine a 14th and 15th month pay for all employees, payable before the May 2019 elections.  It will not be an annual payout.

Aquino told The Adobo Chronicles that his proposal will encourage Filipinos to vote for incumbent legislators who are seeking reelection. Like himself.

Quite a campaign strategy, we’d say!

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Leni Robredo Laments Slowing Down Of Philippines’ Inflation Rate

D4FD59BC-C1AD-4AD8-B441-D2B828B54D0FMANILA, Philippines (The Adobo Chronicles, Manila Bureau – In a statement critical of the Duterte administration, Vice President Leni Robredo today said that the reported slowing down of the inflation rate to 6% in November is very concerning. “Nakakabahala.”

In a prepared statement sent to local and international news outlets, Robredo said that the Philippines cannot afford a slowdown in growth. “We must continue to set our sights upwards, not downwards,” she said.

Robredo says that the slowing down of the country’s inflation rate does not bode well for the economy, and called on the Duterte government to always make sure that the numbers go up, not down or come to a halt.

 

Dozens Of Filipinos Arrested For Using Chinese Currency In Divisoria

MANILA, Philippines (The Adobo Chronicles, Manila Bureau) – Dozens of Filipino shoppers in Divisoria  were arrested by police authorities for trying to pay with renminbi, the currency of China.

Most of those arrested recently visited Beijing and other cities in China as part of a tour group and had leftover Chinese currency.

Apparently, those apprehended read a news story in radyo.inquirer.net that Chinese currency may now be used in business and other transactions in the Philippines. It was supposedly one of the 29 agreements signed by Philippine President Rodrigo Duterte and Chinese President Xi Jinping during the latter’s recent visit to Manila.

Others said they saw a tweet by retired celebrity Jim Paredes about the Inquirer story.