Masterpiece - Dragon Boat Team Qatar in Davao City soon

ABOUT US

MASTERPIECE DRAGON BOAT TEAM QATAR (“MDBT OR MP”) is a non-profit organization that has been initiated primarily to encourage and inspire the Overseas Filipino Community to enhance human potential by promoting the importance of good health by means of exercise, support, friendship and fun through the sport of dragon boat. The team was formed in June 2016 with 11 pioneer paddlers and has since grown steadily in terms of its members and supporters. At the present the team comprises 70 members. MP strives to build a core squad who will train and paddle together. The team aspires to compete successfully in the local and international front; hence, its members continue to dedicate themselves to a rigorous training regime that focuses not only on the technical and endurance aspects of the sport but also on the collective team work. For the love of the sport, MP fosters its players to develop its competitive edge, whilst maintaining the spirit of camaraderie among the entire dragon boat community. Fueled by their relentless passion to train, fully ignited by their unyielding desire to win, this never-say-die team shall continue to dominate over the world class talent of Filipinos.

MP is an official member of Qatar Dragon Boat Federation which is the specific governing body for the sport of dragon boat racing in Qatar.         

Masterpiece is COMPETITIVE TEAM. This means that we take training seriously. We demand from each member of the team their time to attend training sessions whether boat, pool and land. Attendance is key. We ask the members for their commitment and sacrifice to be strongest team in the league. We train hard, we push ourselves to the limit that is why we are champions.

MP aims to provide support assisting unfortunate and distressed OFWs and the general Filipino Community both here in Qatar and in our home country, The Republic of the Philippines. The team was recently awarded a Certificate of Recognition last 25 January 2017 making them a Bonafede member of the United Filipino Organizations in Qatar (UFOQ).

The team is also a member of H.E.R.O Qatar (HELPING, EMPOWERING, RECOGNIZING OFWs Qatar). Another social group that envisions to build a strong group and solid foundation for OFW’s in Qatar which is inline with UFOQ’s Mission and Vision.

CALENDAR YEAR 2016 – 2018

A.   RAK AUTUMN REGATTA 2016

Date: November 2016

Race Venue: Ras Al Khaima, United Arab Emirates

Brief Description:

       It was the first international exposure for most of its players who valiantly fought a good fight against UAE’s toughest and well-experienced clubs.

B.   QATAR DRAGON BOAT FESTIVAL 2017

Date: 10 March 2017

Race Venue: Grand Hyatt Hotels and Residences Doha, Qatar

Awards:

1.    Premiere League – Standard Boat 200 Meters OPEN Category – Champion

2.    Premiere League – Standard Boat 200 Meters MIXED Category – 1^st Runner Up

C.   7^TH KOREA OPEN BUSAN INTERNATIONAL DRAGONBOAT FESTIVAL

Date: 03September 2017

Race Venue: Busan, Korea

D.   SARACEN WINTER DRAGON BOAT FESTIVAL 2017

Date: 24 November 2017

Race Venue: Grand Hyatt Hotels and Residences Doha, Qatar

Awards:

1.    Premiere League – Standard Boat 200 Meters WOMENS Category – Champion

2.    Premiere League – Standard Boat 200 Meters OPEN Category – 1^st Runner Up

3.    Premiere League – Standard Boat 200 Meters MIXED Category – 1^st Runner Up

E.    VICTORY PARTY / YEAR END PARTY

Date: 18 December 2017

Place: Doha Qatar

F.    MASTERPIECE NEWLY REQUIRED DRAGON BOAT “KAMANDAG”

Date: 01 January 2018

Place: Katara Beach, Doha, Qatar

G.   QATAR NATIONAL SPORTS DAY – MOCK RACE

Date: 13 February 2018

Mock Race Venue: Katara Beach, Doha Qatar

Brief Description: QDBA held a mock race in Katara Beach

H.   ONSLAUGHT 2^ND MOCK DRAGON BOAT RACE

Date: 31 August 2018

Race Venue: Katara Beach, Doha, Qatar

Brief Description: Onslaught Dragon Boat Team Qatar organized the mock race.

Awards:

1.    Small Boat 200 Meters WOMENS Category – 1^st Runner Up

2.    Standard Boat 200 Meters OPEN Category – 2^ndRunner Up

3.    Standard Boat 200 Meters MIXED Category – 1^st Runner Up

Our team will be joining Davao International Dragon Boat Festival to be held from 30th November till 2nd of December 2018.  We will be competing in the first Davao International Dragon Boat Festival.

Thank you very much and looking forward to meeting you soon with the team.

Comval Gov delivers Local State of the Children's Report

Compostela Valley Province---  ”What we do now will surely make or break our children. There is no other choice but to ensure that the environment they live in is an environment that fosters hope, nurtures their talent and encourages growth,” this was part of the message of Governor Jayvee Tyron L. Uy during the celebration of the 26^th National Children’s Month (NCM) 2018 at the Provincial Capitol Lobby, Cabidianan, Nabunturan Comval on November 5, 2018.

This year’s NCM theme is “Isulong: Tamang Pag-aaruga, Para sa Lahat ng Bata.”

Highlights of the Celebration are the Local State of the Children’s Report of Governor Uy and the kick-off ceremony.

Governor Uy reported the child welfare and development agenda that highlights the five core areas: civil rights and freedoms, family environment for care and alternative care, basic health and welfare, basic education, leisure and cultural activities and special protections.

“Under civil rights, we conducted the Provincial Children’s Congress. Annually, we gather our child development workers to tackle the most pressing issues and problems concerning our children. This is also chance for our child development workers to express their concerns and grievances, a chance we hear the sentiments of our frontlines in the field-our child development workers,” said Gov. Uy.

Meanwhile, during the program Provincial Director Noel C. Duarte of the Department of Interior and Local Government (DILG) gives the rationale of the NCM 2018.

He explains that this celebration is for the victims of violence, every country’s culture, social level, abuse, neglect, exploitation, and also for the streets, home, school and institution.

“The celebration is by virtue of Republic Act 10661, an act declaring November every year as NCM. The NCM celebrates successes of children, to campaign to end violence against children and promote their physical, emotional, moral, spiritual and intellectual well-being,” said Duarte.

Attending the program were the provincial officials, employees of the provincial government, students and personnel from the Department of Social Welfare and Development (DSWD).

“As part of the community that believes in the capacity of the young to make positive change, it is our sworn duty and solemn obligation that they access opportunities that they deserve. As governor that belongs to the generation of the young, I vow that I will dedicate every single day in making sure that our children live in an environment that protects their rights and puts their welfare at the center of our priorities,” ended Governor Uy. (Rey Antibo, ID Comval)

Philippines and China set to sign P175 billion railway loan deal

Pia Lee-Brago (The Philippine Star) 

MANILA, Philippines — President Duterte and Chinese President Xi Jinping are set to sign this month the P175-billion Philippine National Railways (PNR) South Railways project, a 639-kilometer standard gauge railway line between Manila and Bicol.

The project, a component of the PNR Luzon System program, is among the big-ticket infrastructure projects to be funded under an Official Development Assistance (ODA) agreement, a Department of Foreign Affairs (DFA) official who asked not to be identified said yesterday.

The official said Xi’s visit will take place after the Asia-Pacific Economic Cooperation Summit from Nov. 12 to 18 in Papua New Guinea.

Albay Rep. Joey Salceda, the project’s original proponent, said the modern railway project would be a major backbone of economic development in Southern Tagalog and Bicol with spillover benefits to other regions of the country.

“The PNR South Railways project, which we have tediously designed as a key that will unlock the economic potentials of the vast Southern Tagalog and Bicol areas, is now finally coming to realization,"  Salceda said.

Once completed, the project will enhance the connectivity between major airports and seaports in Southern Tagalog and the Bicol regions and as well as serve untapped areas along the route, he said.

The PNR South Railway segment is expected to cut Manila-Legazpi travel down to less than five hours. It runs from Manila to Matnog in Sorsogon with nine major stations – Manila, Los Baños, Batangas City, Lucena, Gumaca, Naga City, Legazpi City, Sorsogon City and Matnog.

Its construction is set to start in the second quarter of 2019 and will be partially operational by the second quarter of 2022.

The DFA said the project forms part of the massive “Build, Build, Build” infrastructure program of the Duterte administration. 

Five years after Philippines' strongest typhoon, scores still in harm's way

41SHARES400

(Agence France-Presse) 

TACLOBAN, Philippines — Diofel Llamado fled for his life when Super Typhoon Yolanda (Haiyan) devastated the Philippines in 2013, yet today he is back living in the same coastal area – even if it puts him in the crosshairs of a future killer storm.

On the fifth anniversary of the country’s deadliest typhoon on record, his return is emblematic of the struggle in developing nations to move people out of homes in the most disaster-menaced zones.

It is an especially urgent danger as monster storms strike ever more frequently, packing destructive rainfall that experts say is supercharged by climate change.

“You cannot think that you are safe,” Llamado, 55, told AFP. “Even when you are sleeping, you have to think like a soldier: one foot is in the graveyard.”

Yolanda struck in the predawn darkness of Nov. 8, 2013 as the then strongest typhoon to ever hit land, leaving more than 7,360 people dead or missing across the central Philippines.

The wall of seawater the typhoon sent crashing into densely populated areas – known as storm surge – is one of the key reasons it was so deadly.

Many people simply did not understand the term and did not evacuate despite official warnings.

Even some who fled were not spared – Llamado’s two daughters were killed when the rushing water collapsed an evacuation center.

Yet he has returned to live in the same storm surge-threatened area where his family lived before Yolanda.

Llamado says his small business making savory pastries would not survive a move, adding that the government-proposed housing in a safer area doesn’t even have running water and electricity.

“If someone will offer us a means of livelihood, we can live there. But until that happens, how will we survive?” he asked. “No one is going to give you food.”

Lesson not learned

His decision echoes the calculus poor people make in other calamity-prone nations in Asia and Africa, said Moustafa Osman, a Britain-based disaster management expert.

“Everywhere the single most difficult thing to do is to move people from their own village or territory and put them in a strange place,” he said.

“Unless you have a proper plan and a better alternative they won’t go,” he added.

Substandard housing, difficulties in earning a livelihood, no transportation and even conflict with the existing residents of a resettlement area are habitual barriers.

In the Philippines, roughly 15,000 of the poorest families were ordered relocated from the worst-hit city of Tacloban, yet many have not moved and those who have are struggling.

Maria Rosario Felizco, Oxfam country director for the Philippines, said the need to locate communities in areas less vulnerable to disasters has not been fully met.

“That’s the lesson we must learn. We must not wait for... a disaster before we think of that,” she said.

The peril that looms over communities in the Philippines and elsewhere is only expected to grow because of the influence of global warming on extreme weather.

Oxford University climate expert Friederike Otto said there is a clear connection between climate change and heavier, devastating rainfall.

The storms packing these intense rains are expected to get more harmful as the impact of climate change manifests itself, and because so many vulnerable communities live in threatened areas.

“How destructive a storm is crucially depends on who and what is in harm’s way,” Otto said.   

Your wish is my command

My column in Mindanao Daily, Mindanao Daily Mirror and Businessweek Mindanao

When I was still a young boy, I have been taught that there might be

fairy creatures offering us three free wishes. We should be always so

wise enough to think it over very well and select the best wishes for

our very own. Sure, there will be always classic stupidities regarding

fairy-wishes. We are all human beings and don't belong to the fairy

category.

Your wish is my command! And, there is someone who wishes at first a

strong health, and - sure, he or she receives it, because good fairies

never hesitate. And now and then? Here he is, for example, the healthy

man is like a boulder in the surf, but surrounded by a world of war,

flames and so-called military conflicts. But this man is still alive

and as fit as a fiddler. Why should he wishes for a strong health...?

Well, maybe we have to formulate our wishes for something more

improved. But what? Discretion is the better part of valor. Let's try

it like a fairy-tale and ask for wealth, riches and abundance. These

are the one and only things on earth, right?

With money we can travel around the globe, find friends, even in far

away distances, and we can do charities. Well, and if we might become

sick, maybe seriously sick, we must not worry. We can afford and

finance the most affordable doctors and most updated hospitals to give

us back our good health. And if not?

In many fairy tales we can also find the one with unassuming manners,

inconspicuous, poor dressed-up, a little bit silly, mostly disregarded

and easily to be overlooked. This guy has only one wish, such as

eternal salvation and bliss with a little stool in heaven besides God.

And guys, be sure, that he will get it, and, he is happy and very

thankful. So far so good, it seems the simpleton has been the

brightest.

It's all right: three wishes and no one more. A different thing, isn't it?

If all human beings on this entire globe could be all around happy,

which means to say: nobody must go hungry any more, nobody must be

despairing, nobody must be worried about wars and catastrophes, and

everybody could be able to enjoy health and happiness without bearing

trials ... yes, if ... Then we wouldn't need fairy-wishes... .

Real life looks different. Real life is not a fairy tale. We need

prayers and should be more respectful and friendly to each other. 

Especially nowadays. All around the globe.

Each one of us has his or her own three wishes. Me too. One of them

is:  peace on earth!

Boracay Reborn

By Philippine Star

Another one of the country’s beautiful paradises, Siargao, was recently named “Best Island in Asia” by Conde Nast 2018 Readers’ Choice Awards. Though its popularity is sure to surge thanks to this lofty endorsement, one island remains to be a sentimental favorite – Boracay.

With its reopening, beach-goers and sun-worshippers are waiting with bated breath, curious about what’s in store in the new chapter of the island's life. 

Known for its glorious stretches of soft, baby-powder white sand and crisp, cool waters, with a night life that would rival the party scenes of Ibiza, Boracay has come to be known as a true island paradise. It’s a destination fit for everyone, for the children who frolic its beaches to the young singles ready to mingle, and the retirees who have found bliss sipping whisky or mojito by the seaside.  

But over time, with the rise of its popularity, Boracay — though still beautiful — had started to show signs of abuse. It was on April 26 when President Rodrigo Duterte ordered full closure of the island for its complete and immediate rehabilitation. 

Tasked to lead the preservation program is Mark Villar, secretary of the Department of Public Works and Highways (DPWH), who mandated the demolition of structures that sit within the 30-meter easement from the shoreline.

He led the laying down of drainage pipes, sewerage systems and road widening projects to ease the traffic and congestion which had become a growing burden on tourists and locals. One of DPWH’s key rehabilitation works is the Circumferential Road, which has been built to be 12-meters wide, and is designed with proper bike lanes and sidewalks.

Villar worked closely with Bernadette Romulo-Puyat, secretary of Tourism and Roy Cimatu, secretary of Environment, to beat the “impossible” deadline. 

Recently, Romulo-Puyat shared with the media that upon Boracay’s reopening, the local government will strictly enforce existing ordinances and laws. In addition, to preserve the cleanliness and ease the flow of travelers, the government has limited the number of flights to Boracay, restricting daily tourist entrance to 6,405. 

Through the shared photos online, we’ve seen glimpses of the new Boracay, and it’s a stunning reflection. But is it the Boracay that the locals and tourists are still expecting? Here, we take a listen to what they have to say. 

Emer Ibabao, Sun Village Resort & Spa Boracay 

As someone who has worked on the island for years, I’ve seen the aches and challenges that many have had to go through. But it’s a new Boracay now! The closure was good for the island, and we’re hoping for more tourists to be heading here, which is better for the stakeholders and locals. 

We just hope that (the local government) seriously and strictly implements the laws and ordinances. If they do, we will never go wrong. I recommend though that perhaps the LGUs can formulate stricter policies, impose high penalties for the violations and ensure religious monitoring and implementation of the rules and guidelines. Let us all be responsible tourists to Mother Nature. We truly believe in the vision of sustainable tourism. 

As part of the business community, I can say that it’s been difficult, but we understand that, once in a while, the island needs rest just like humans do. This is only the beginning and we hope that we sustain the cleanliness of the island and keep its waters and beaches pristine. 

Danille Villanueva, multimedia content developer

I was in Boracay before the rehab, from February to March 2018, and was here when they officially announced the closure. I’m currently staying in Boracay for work and I can say it’s still a bit chaotic due to the ongoing construction projects. But the beach is beautiful, and it’s seen a complete turnaround. I’m staying at Station 3 and this is the cleanest I’ve ever seen the waters. 

I hope tourists won’t expect everything to be completely done, and that they do their part in ensuring the island stays clean and healthy. The other day I noticed a resort staff asking someone who passed by to pick up his trash. So we have to remind people to be more responsible. 

I haven’t seen a piece of trash, cigarette butt, and the like since I got here. Also, I’ve noticed more trucks cleaning and clearing the sand every now and then.

I think the greatest challenge now for the island and the LGUs is to maintain the cleanliness and continue what they’ve started. Right now, it seems easy, but when tourists start pouring in, they’ll have to double their efforts. The LGUs cannot do it alone; people need to do their part.  

Anne Mae yu Lamentillo, Build, Build, Build Committee

When I visited Florida as part of the US Department of State’s International Visitor Leadership Program (IVLP) — I learned that beach closures were part of a standard operating procedure relevant to Algal Bloom Monitoring. Recently, it closed Jupiter Beaches in Palm Beach County and Hobe Sound Beach and Bathtub Beach in Martin County.

In the State of Rhode Island, the moment the concentration of Enterococci bacteria in beach water exceeds 60 colony-forming units per 100 ml, they issue a temporary closure.

In 2018 alone, there were at least 40 beach closures in Rhode Island, including Briar Point Beach in Coventry, Camp Beach, in Kingston, Bristol Town Beach, Oakland Beach in Warwick and Sandy Point Beach in Porstmount. More recently, Thailand’s Maya Bay, made famous by Leonardo DiCaprio’s film The Beach was also closed indefinitely.

At the onset, critics pointed out that the Boracay beach closure seemed to be a drastic move — an isolated strategy. But the statement is nothing but a myth. 

Sonny Dacumos, retiree

It was last year that I had first flown to Boracay for my 60th birthday, and I was more than thrilled by the scene. It was perfect for a senior citizen like me who likes to walk along the beach in the morning, and spend the afternoon just lazing around.

But it was also perfect for the young ones. I had planned to go back again with my wife and family for a future trip, so when I had heard that it was undergoing a major rehabilitation, a part of me felt that I would never get the chance to enjoy the Boracay that I had first experienced. 

I followed the news closely when it came to the Boracay rehab. At first, I was bummed out by the closures of the bars and the removal of many of the sights and activities along the beachfront. I also felt bad for the vendors who not only made a living on the beach, but also brought a homey sense of community. But after reading all the news, I understood it was necessary. It was only a matter of decades for the island to deteriorate.

Now it looks healthy. Viewing the video clips and photos online, I’m quite relieved and excited to be able experience Boracay maybe a few more times in my lifetime, and it may even be better than my first memory of it. 

Diz Perez, fashion photographer

I’ve been going to Boracay since 1999, and I loved heading there almost every year because of the chill vibe it had. It was the perfect getaway. The first time I was there, it was before D’Mall had even opened and there were more local places to eat in and be in. At that time, there was just a really small community of locals that called Boracay home. The prices then were, of course, cheaper, and it was harder to get to.

But over the years, small changes happened, which led to its rise in popularity and commercialization. Soon, it became too crowded and it became a money-machine. 

That’s why I’m actually looking forward to seeing the rehabilitated Boracay. No more parties and they’ll be imposing stricter laws, which were all in place anyway before the rehab happened, and just needed to be implemented.

I look forward to rediscovering Boracay, the island that I used to know. While others may think the six-month closure was a drastic move, I think it’s a long time coming. It would be great to see how this plan of the government pushes through. Sana maayos, for everyone’s sake. 

All Saints' Day

Facebook daily visits growth slows as sales miss forecasts

Image copyrightGETTY IMAGES

Facebook's user growth has slowed and its revenue has missed forecasts, according to the firm's latest results.

An average of 1.49 billion people used Facebook's social network on a daily basis in September, up 9% on last year but below expectations of 1.51 billion.

Growth was flat in the US and Canada and fell in Europe.

Facebook said sales rose by 33% to $13.7bn (£10.7bn), however they fell short of expectations and trailed the prior quarter's 42% gain.

The company, which also owns WhatsApp and Instagram, is grappling with a shift in its business as user growth slows in its most profitable markets.

• Facebook shares dive as growth disappoints
• Facebook security breach: Up to 50m accounts attacked

Growth is stalling in developed markets while an increasing amount of activity is happening via private messages or temporary "stories".

The firm is yet to turn those features into an advertising business on the same level as the newsfeed on its original Facebook network.

'Significant investment'

Mark Zuckerberg, co-founder and chief executive of Facebook, said he is confident that the company's advertising sales will catch up to the change in users' behaviour.

However, he warned investors that 2019 would be another year of "significant investment".

"It will take some time," he said.

Image copyrightGETTY IMAGES

Facebook, which has been hit by data breaches and concerns about "fake news", told investors in July that growth would slow.

It cited the shift in users and its own increased spending on security and privacy.

Managing problems

During the third quarter to 30 September, Facebook said India, Indonesia and the Philippines showed the strongest gains in users.

It also said that expenses increased 53% year-on-year to $7.9bn.

Facebook expects revenue growth to continue to decelerate and costs to grow between 40% and 50% in 2019.

Image copyrightGETTY IMAGES

Image captionFacebook also owns Instagram

Mr Zuckerberg said expenses should begin to moderate after that but cautioned that investments in anti-hacking and abuse efforts will continue.

"I do think we are up against sophisticated adversaries who will continue to evolve so there is a large element of this that is an arms race," he said.

"These are not problems that you fix. These are problems that you manage over time."

Profits in the third quarter were $5.1bn, up 9% due in part to a lower-than-expected tax rate.

Typhoon prompts Philippine evacuation ...

... in storm-prone provinces

• 
  
• WRITER: BLOOMBERG NEWS

Filipino workers take down a large billboard sign in anticipation of strong winds brought by an upcoming typhoon in Bacoor city, Cavite province, Philippines, on Monday. (EPA photo)

MANILA: Philippine authorities started to move people to safer grounds as Typhoon Yutu approaches, tracking a path similar to last month’s storm that devastated rice-producing provinces in the main island of Luzon.

Yutu, which last week became the strongest storm since 1950 to hit the US territories in the Northern Mariana Islands, is now the equivalent of a Category 2 storm on the US Saffir-Simpson scale. Its maximum winds have slowed to 167 kilometres per hour, according to the latest Joint Typhoon Warning Center forecast.

The typhoon is forecast to make landfall on Tuesday either in the province of Isabela or Aurora in northern Philippines, according to the local weather bureau. Mangkhut, which killed more than 120 people in the Philippines and damaged about 26.7 billion pesos ($498 million) of the nation’s farm output, slammed into Cagayan province, also in north Luzon, in September.

Storm signal No. 3 was raised in the provinces of Isabela, Quirino and Aurora. Under the third-highest alert, rice and corn crops may suffer heavy losses and widespread disruption of power and communication lines may happen, according to the Philippine weather bureau.

More than two dozen areas including the capital region of Metro Manila are under lower alert levels. About 20 cyclones pass through disaster-prone Philippines each year. In 2013, Super Typhoon Haiyan killed more than 6,300 people in the Southeast Asian nation.

As many as 12 million people in 290 cities and towns in Luzon are along the storm’s path, Edgar Posadas, spokesman for the Philippine disaster-monitoring agency, said at a televised briefing.

Cebu Air Inc. canceled several local flights ahead of the Halloween break. Yutu, named Rosita in the Philippines, was about 355 kilometres from Luzon’s east coast on Monday afternoon.

Last month, Mangkhut hit the Philippines main island before striking Hong Kong. At their peak, both Mangkhut and Yutu had winds of 180 miles per hour, making them the strongest in the world this year.

“Manila will get a little bit of rain but the worst of it is well to the north,” said Jason Nicholls, a meteorologist with AccuWeather Inc. in State College, Pennsylvania.

The mountains of Luzon will tear at Yutu’s structure and significantly weaken the storm before it emerges into the South China Sea Wednesday, Nicholls said.

Yutu is forecast to drift north, possibly bringing rain to China’s southeast coast in the coming days.

Who wants to be a billionaire?

My column in Mindanao Daily - the Mindanao wide circulated publication

Some people have money to burn! Every time, I observe them, I feel that their money is going down their drain. Yes, "money talks". The more money you have, the more you might become avaricious. Every time, we have to dig deeper into our pockets, we might longing to be like those people, who don't see the difference between a 500 or 1,000 bill.

On the other hand, the number of billionaires worldwide rises rapidly.

Last year saw the rise of some 200 additional billionaires who contributed to boosting the collective wealth of the super rich. A fresh report -just on my desk- showed that growth was led by the world's second-largest economy, China.

    

The number of billionaires rose to 2,158 in 2017, Swiss banking giant UBS and consultancy PwC said in a report last Friday (October 26, 2018). It showed that a total of 199 new billionaires were created over the year globally.

Their collective wealth increased by 19 percent to the staggering total of $8.9 trillion (€7.83 trillion), led by growth in China.

Nearly a third of the new billionaires gained their wealth through some form of innovation, while the rest did so by scaling up businesses in the Asia-Pacific region, the report noted.

According to the Billionaires Insight Report, "China's billionaire entrepreneurs are leading their country's economic transformation, and by extension that of the rest of Asia."

It added that over little more than a decade, they had created some of the world's largest companies, raised living standards and made fortunes at an unprecedented pace.

UBS and PwC emphasized that there were already more billionaires in Asia than in the United States, and they were on course to be wealthier than their US peers within three years.

"A new cohort of Chinese entrepreneurs is challenging Silicon Valley amid rising tensions over trade and intellectual property," the survey argued. "They are developing new business models, moving rapidly between sectors."

"Ongoing urbanization and productivity growth would help the young entrepreneurs at the forefront of China's wealth creation continue to reach the ranks of the billionaires in the coming years," the report concluded.

Yes, money can give you a wonderful sleep, and you might stay in one of the most luxurious beds - but being awake, while your poorest neighbor sleeps better and more peaceful on the floor. There are many sayings about money. I like this one: Money can buy books but not brains. You might study a lot and get a lot of experiences; it's just a pity, if you don't use them at the right time for the right people in your surroundings.