DOTr: Naia rehab project awarded end-’23 By Lorenz S. Marasigan
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WORLD » A11
Flooded with sightseers, Europe’s iconic churches struggle to accommodate both worship and tourism
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HE Department of Transportation (DOTr) Secretary Jaime Bautista said the government could award the multibillion-peso rehabilitation deal for the Ninoy Aquino International Airport (Naia) by the end of the year. Assuming that the agency will publish the terms of reference
(TOR) for the P170-billion Naia Rehabilitation Project soon, the department may award the deal by December. This already includes a leeway for extension requests. “If we will be able to publish the TOR, then we can accept the bids after the publication. We can give them two months to submit the bids—maybe some of the bidders will ask for an extension. If we will given them three months after August, by November, we can
already open the bids and then we can award by the end of December,” Bautista said in a chance interview. On Wednesday, the National Economic and Development Authority (Neda) Board—chaired by President Ferdinand Marcos Jr.—approved the P170-billion Naia Rehabilitation Project under a solicited scheme. The P170-billion price tag is way below the unsolicited proposal of a consortium of business
tycoons for the airport rehabilitation, a long-term plan for which they put a price tag of P267 billion. T he Ned a Boa rd-approved plan will cover all facilities of Naia including its runways and four terminals. Once completed, the project is expected to almost double the passenger capacity of Naia from 35 million to at least 62 million. See “DOTr,” A2
BusinessMirror A broader look at today’s business
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BOP DEFICIT NARROWS TO $606M IN JUNE–BSP www.businessmirror.com.ph
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Friday, July 21, 2023 Vol. 18 No. 277
P25.00 nationwide | 2 sections 24 pages | 7 days a week
ENGAGING WITH RIDERS Acting Chairman Atty. Don Artes of the Metropolitan Manila Development Authority (MMDA) meets with representatives from motorcycle ride-hailing groups and gasoline station operators to discuss crucial measures aimed at enhancing rider safety during heavy downpours. Among the key topics on the agenda were the implementation of temporary lay-bys at gas stations and potential administrative sanctions for ride-hailing drivers found using the exclusive bus lane along Edsa. Story on page A2 News. ROY DOMINGO
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Int’l tourists vital to hotels’ full recovery
By Raadee S. Sausa
HE country’s overall balance of payments (BOP) posted a deficit of $606 million in June 2023, lower than the $1.6 billion recorded in the same month last year, data from the Bangko Sentral ng Pilipinas (BSP) showed. The narrower deficit was traced by one expert to higher remittances, tourist receipts and BPO revenues.
In a statement, the central bank said the BOP deficit in June 2023 reflected outflows arising mainly from the national government’s (NG) net foreign currency withdrawals from its deposits with the BSP to settle its foreign currency debt obligations and pay for its various expenditures. “Notwithstanding the deficit in June, the cumulative BOP position registered a surplus of $2.3 billion in the first semester of the year,” the BSP said. “This level is a reversal from the $3.1-billion deficit recorded in the same period a year ago,” it added. Based on preliminary data, the cumulative BOP surplus reflected inf lows that stemmed mainly from personal remittances, net
foreign borrowings by the NG, trade in services, and foreign direct investments. “The gross international reserves [GIR] level decreased to $99.4 billion as of end-June 2023 from $100.6 billion as of end-May 2023,” the central bank said. Meanwhile, the latest GIR level represents a more-than-adequate external liquidity buffer equivalent to 7.3 months’ worth of imports of goods and payments of services and primary income. Moreover, it is also about 5.7 times the country’s short-term external debt based on original maturity and 4.0 times based on residual maturity.
By Ma. Stella F. Arnaldo
@akosistellaBM Special to the BusinessMirror
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ANY hotels and resorts in the country continue to remain unprofitable, notwithstanding the surge in domestic guests and an increase in their rates.
In an interview with the BusinessMirror, Hotel Sales and Marketing Association (HSMA) president Loleth So said the hotel occupancy of their members in Metro Manila are “surpassing” prepandemic levels, averaging 7080 percent. See “Int’l,” A2
WORLD NO. 2 Ernest John “EJ” Obiena rises to world No. 2 in the World Athletics rankings for men’s pole vault—a feat no other Filipino has ever gone before. Already a member of the elite 6.0-meter club, Obiena trails Olympic and world champion and world record holder Armand Duplantis of Sweden while shoving Chris Nilsen of the US to No. 3. Story in Sports, B7. PHOTO COURTESY OF BANGKOK ASIAN ATHLETICS CHAMPIONSHIPS FACEBOOK
See “BOP,” A2
PESO exchange rates n US 54.5440 n japan 0.3908 n UK 70.5799 n HK 6.9852 n CHINA 7.5504 n singapore 41.1777 n australia 36.9427 n EU 61.0947 n KOREA 0.0431 n SAUDI arabia 14.5606 Source: BSP (July 20, 2023)