Category Archives: Economy

Business, Economy, Entertainment, International, Science and Environment, Tourism

Underwater Disneyland To Rise In The Philippines’ Benham Rise

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image.pngANAHEIM, California  (The Adobo Chronicles, Los Angeles Bureau) – It is known as the Benham Rise, a 13-million- hectare, seismically active undersea region located east of Luzon, and is 35 meters underwater at its shallowest point off the provinces of Aurora and Isabela. It is said to be wider than Luzon, Samar and Leyte combined.

In April 2012, the UN Convention of the Law of the Sea (UNCLOS) recognized and officially approved the Philippines’ claim that Benham Rise is part of its continental shelf and territory. With that, the Philippines’ territory has increased to 43 million hectares from 30 million hectares.

Today, a big announcement from Disneyland: it will build the world’s first underwater theme park on Benham Rise. The park will feature a replica of the Titanic, several snorkeling arenas, a natural aquarium and swimming pool, submarine rides, shops, restaurants and other unique attractions — all under water!

Disney’s announcement is just one of living proof of foreign investors’ confidence in the incoming administration of president-elect Rodrigo Duterte. It is part of the mayor’s overall strategic plan to create jobs for Filipinos, promote Philippine tourism, and create a smoke-free environment that can be enjoyed by domestic and foreign tourists alike.

Duterte also hinted at creating several underwater livable communities at Benham Rise as a way to disperse the overcrowding of Metro Manila and other urban cities, and to solve the nightmarish traffic problems of the country.

Change is coming to the Philippines!

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Economy, Government, Politics

President Aquino: No One Can Top My Hallucinations

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imageMANILA, Philippines – President Aquino on Wednesday said none of his predecessors –and not even any of the presidential candidates – can beat his administration in terms of solid hallucinations.

Aquino touted the country’s 6.2 percent annual average economic growth under his watch.

But the government’s own Philippine Statistics Authority (PSA) reports that more than 26% of Filipinos are still living in poverty. On the other hand, subsistence incidence among Filipinos, or the proportion of Filipinos whose incomes fall below the food threshold, was estimated at 12.1 percent in the first semester of 2015. Subsistence incidence among Filipinos is often referred to as the proportion of Filipinos in extreme or subsistence poverty.

Meanwhile,  the country’s external debt amounts to 77474.07 USD Million in 2015 as reported by the Bangko Sentral Ng Pilipinas. In fact, as the chart below shows, the Philippines’ external debts were highest during Aquino’s years as president.

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When asked for comment about the PSA  and Bangko Sentral reports, a presidential spokesperson pointed out, “that’s why he said “hallucinations” and not “accomplishments.”

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Economy, Government, Politics

Philippine VP Jojo Binay Now Leads Polls For President

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image.jpegMANILA, Philippines (The Adobo Chronicles, Manila Bureau) – Free education and free heatlh care for all — these are promises the candidates for Philippine president have been making in their campaigns.

In a poor country like the Philippines, these two issues are quite popular among voters.

But one candidate for president seems to have struck the perfect chord that he has now overtaken frontrunner Davao City Mayor Rodrigo Duterte in a new national poll.  With just less than two weeks before the May 9 elections, Vice President Jojo Binay now leads the 5-candidate pack by a commanding 65%.

He has gained the overwhelming support and confidence especially among senior citizens, the LGBT community and teenage girls.

His promise, made during a campaign stop in Camarines Sur province, was to provide free manicure and pedicure for all.  The Rappler reports.

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