Category Archives: Economy

Shortage Of Galunggong (Scad Fish) Reported In Metro Manila

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“Gourmet” galunggong (Internet grab)

MANILA, Philippines (The Adobo Chronicles, Manila Bureau) – For decades, galunggong, or scad, has been considered a poor man’s fish in the Philippines.  It was abundant and inexpensive.  Alas, it is a poor man’s fish no more.

Many public markets in Metro Manila are reporting a severe shortage of galunggong.  Their sources of supply have stopped delivering the fish to their stalls.  As a result, low-income consumers are upset that they are not able to buy the fish to feed their families.

An investigative report from our star reporter at The Adobo Chronicles uncovered the reason for the shortage.

It appears that galunggong suppliers are delivering the fish directly to 5-star hotels and restaurants in Metro Manila and other urban centers.  The demand has significantly increased among these high-class establishments because galunggong is now part of their gourmet menu (see photo).

Galunggong is especially popular among foreign tourists out to experience the Philippines’ authentic, exotic cuisine.

An order of galunggong — one fried fish garnished with some mint or other leaves and sprinkled with either a sweet or sour sauce — at these establishments commands a price as high as two thousand pesos (about US $42). Rice is extra.

Upon hearing of the news, President Rod Duterte instructed Secretary Manny Piñol of the Department of Agriculture which has jurisdiction over the Bureau of Fisheries and Aquatic Resources, to look into the reported shortage.

Duterte wants the resolve the problem within 24 hours.

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BREAKING: GlaxoSmithKline Announces New Powerful Weight Loss Pill

imageLONDON, United Kingdom (The Adobo Chronicles, Berlin Bureau) – The U.K.-based pharmaceutical giant, GlaxoSmithKline (GSK) — the world’s fifth largest — announced today that it has developed the most powerful weight loss pill ever.

GSK expects to start marketing the new drug in the next few weeks, starting in Europe.

The new drug, called Brexit, is said to guarantee significant loss of pounds.

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How Much Is President Aquino Leaving The National Treasury?

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Photo: The Adobo Chronicles

(DISCLAIMER: This report is subject to review by the Commission on Audit)

MANILA, Philippines (The Adobo Chronicles, Manila Bureau) – Philippine President NoyNoy Aquino — who revels in touting his administration’s so-called accomplishments –said yesterday that he is ending his 6-year term with P164.33 billion  ($3.57 billion) in the national treasury, thanks to dividends remitted by government-owned and -controlled corporations (GOCC).

“My promise to our boss: I will leave this country in a totally different situation from what I came upon,” Mr. Aquino said during the 2016 GOCC Dividends Day at Malacañang.

What Mr. Aquino forgot to say in his speech was that the Philippines’ external debt now stands at $77.47 billion, according to the Banko Sentral Ng Pilipinas (Central Bank of the Philippines). 

So, even without the use of an electronic calculator, Filipinos know that between the country’s external debt and the GOCC funds, the national treasurer is in the negative. Minus $73.9 to be exact.

Definitely, Mr. Aquino is leaving the Philippines in a totally different situation from what he came upon.

And that’s just as far as the national treasury in concerned.

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