WPS issues, new deals on PBBM’s China trip By Samuel P. Medenilla @sam_medenilla
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THE WORLD ›› A6
MOSCOW SAYS UKRAINIAN ROCKET STRIKE KILLS 63 RUSSIAN TROOPS
RESIDENT Ferdinand R. Marcos Jr. said he will push for the peaceful resolution of the country’s “issues” with Beijing and focus on securing a “harvest of agreements and investments” during his State Visit in China this week. The President said he wants to open “a new chapter” in the country’s Comprehensive Strategic Cooperation with China.
Marcos made the pronouncement amid the country’s ongoing territorial dispute with China in the West Philippine Sea. During his visit to China from January 3 to 5, Marcos said he will be meeting with Chinese President Xi Jinping, where he will discuss different matters including “political-security issues.” He hopes the meeting will translate to “numerous prospects and abundant opportunities” for both countries.
“The issues between our two countries are problems that do not belong between two friends such as Philippines and China,” Marcos said in his pre-departure speech at the Villamor Airbase in Pasay City. “We will seek to resolve those issues to mutual benefit of our two countries,” he added.
More Chinese arrivals
travelers through tourism and cultural cooperation in the hopes it will foster better PhilippinesChina relations. “As our doors open up in the new normal, I will invite our Chinese neighbors to once again return to the Philippines as tourists, as students, investors,” Marcos said. “Aside from sharing the wonders of our archipelago with our Chinese friends, strengthened
HE said he will also be pushing to open the country to more Chinese
See “WPS,” A2
BusinessMirror A broader look at today’s business
END-NOV DEBT HITS RECORD-HIGH P13.64T T www.businessmirror.com.ph
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By Jasper Emmanuel Y. Arcalas @jearcalas
HE Philippines’s outstanding debt as of end-November 2022 rose by 14.35 percent on an annual basis to a fresh record high of P13.644 trillion, latest Bureau of the Treasury (BTr) data showed. Treasury data showed that the national government’s (NG) total debt stock was P1.712 trillion higher than the P11.931 trillion outstanding debt recorded in November of 2021. “For the month, NG’s total debt portfolio marginally increased by P3.15 billion or 0.02 percent from the end-October 2022 level primarily due to the effect of local currency appreciation against
the US dollar on foreign currency loans,” the BTr said in a statement on Tuesday. “However, NG debt has increased by P1.92 trillion or 16.33 percent si nce end-December 2021,” it added. The Treasury said the NG’s domestic debt has amounted to P9.43 trillion, P72.73 billion higher than See “Debt,” A2
‘No diversion of radar funds by ex-DOTr chief Tugade’
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ORMER Department of Transportation (DOTr) Secretary Arthur P. Tugade did not commit malversation of funds for the Communications, Navigation, and Surveillance/Air Traffic Management (CNS/ATM) System of the Philippine Airports, his spokesman clarified on Tuesday evening. Responding to an article by bilyonaryo.com, Tugade asked former Transportation Undersecretary for Administrative Services Artemio Tuazon to be his spokesperson and clarify claims that he supposedly caused the diversion of P13 billion in funds for the CNS/ATM System to the upgrade
of the Ninoy Aquino International Airport (Naia). In an interview, Tuazon clarified that the funding for the CNS/ ATM System was under the Civil Aviation Authority of the Philippines (Caap) and that the Naia beautification project was under the Manila International Airport Authority (Miaa). Caap and Miaa are attached agencies of the DOTr. Tuazon clarified that the DOTr merely had “oversight functions” over the two agencies, which have their own legal charters.
PRESIDENT Ferdinand Marcos Jr. waves beside wife Maria Louise as they board a plane for China on Tuesday, January 3, 2023, at the Villamor Air Base in Manila. “As I leave for Beijing, I will be opening a new chapter in our comprehensive, strategic cooperation with China,” he told officials and diplomats, including the Chinese ambassador, prior to boarding his flight. “I look forward to my meeting with President Xi as we work towards shifting the trajectory of our relations to a higher gear that would hopefully bring numerous prospects and abundant opportunities for peace and development to the peoples of both our countries,” he added. Story on President Marcos’s China trip, above. AP/AARON FAVILA
AIRLINES’ VIEW: HOW TO AVOID NAIA MESS REDUX By Lorenz S. Marasigan @lorenzmarasigan
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REPEAT of the New Year’s Day fiasco— when technical issues partially paralyzed the Ninoy Aquino International Airport (Naia), disrupting 285 flights and affecting 56,000 passengers just for Sunday—could be prevented by a proper maintenance of resources as well as “meticulous” experts in government leadership. For Cebu Pacific Spokesman Carmina Romero it is imperative for the government
to invest in the maintenance of the Communications, Navigation, and Surveillance/Air Traffic Management (CNS/ ATM) System to prevent the same mishap from happening. “Any investment in technology requires regular upkeep and maintenance which includes software update, hardware improvement and redundant systems to ensure consistent use. Like in aircraft, we always buy new models so there will be less issues in the operation of older models,” she said. See “NAIA,” A2
See “DOTr,” A2
PESO EXCHANGE RATES n US 55.8150 n JAPAN 0.4269 n UK 67.2459 n HK 7.1529 n CHINA 8.0892 n SINGAPORE 41.6126 n AUSTRALIA 37.9654 n EU 59.5323 n KOREA 0.0440 n SAUDI ARABIA 14.8504 Source:
BSP (3 January 2023)