Good day. Here are the stories for The Manila Times for Saturday, February 4, 2023.
READ: Marcos OKs 7 more 'high-impact' projects
President Ferdinand "Bongbong" Marcos Jr. has approved seven more "high-impact" projects as part of his government's goal to realize social and economic transformation in the medium term, National Economic Development Authority (NEDA) chief Arsenio Balisacan announced Friday. Balisacan said the projects were greenlighted during the President's meeting with the NEDA board on Thursday in Malacañang.
READ: China slams allocation of more EDCA sites
CHINA on Thursday said the United States' military posture in the region heightens the tension and undermines peace and stability in the Southeast Asian region. The Chinese embassy in Manila said the US, "out of its self-interests and zero-sum game mentality, continues to step up military posture in this region." The embassy was commenting on the visit of US Defense Secretary Lloyd Austin 3rd to the Philippines to finalize the setting up of four new Enhanced Defense Cooperation Agreement (EDCA) sites in the country. The EDCA allows US troops to rotate through five Philippine bases, including those near disputed waters. It also allows the US military to store defense equipment and supplies on those bases
READ: Business leaders upbeat on 2023 growth
THE heads of two of the country's most influential business associations are optimistic the country will clear the roadblocks that slowed down economic growth during the past two years. Management Association of the Philippines (MAP) President Benedicta Du-Baladad and Philippine Chamber of Commerce Industry (PCCI) President George Barcelon presented their take on the economy in 2023 during an interview with The Manila Times on Friday. Du-Baladad said she is "cautiously optimistic" about growth prospects for this year, citing the lingering effects of the Covid-19 pandemic and external factors such as dampened global trading.
READ: Junking of regional trade deal urged
AT least 140 cause-oriented groups and individuals called for the scrapping of the Regional Comprehensive Economic Partnership (RCEP), citing its impact on the agricultural sector. The RCEP is a free-trade agreement being pushed by China among Asia Pacific nations aimed at creating the world's biggest trading bloc. It removes or reduces tariffs on certain agricultural products that are traded among participating countries. Exempted from the deal are high demand commodities such as rice, sugar onions, meat, carrots and potatoes.
READ: MIF supporters 'riding on trend'
SENATE Minority Leader Senator Aquilino "Koko" Pimentel 3rd reiterated his opposition to the Maharlika Investment Fund (MIF) because the proponents of the bill are merely "riding" on a trend. Pimentel cited that the draft bill for the MIF is a "confused" one and it does not know what it wants to achieve because it has "internal contradictions."
READ: Actor-host Luis Manzano summoned over fund scam
THE National Bureau of Investigation (NBI) has summoned actor and television host Luis Manzano for his alleged involvement in an investment scam. This came after nine persons filed complaints of estafa against Manzano and Flex Fuel Petroleum Corp. before the NBI. Manzano served as chairman of the board for Flex Fuel until February 2022. One of the complainants, Jinky Sta. Isabel, alleged that she invested nearly P4 million to become a co-owner of two Flex Fuel gas stations in 2020.
READ: UP-PGH won't be privatized – NEDA chief
NATIONAL Economic and Development Authority (NEDA) chief Arsenio Balisacan on Friday assured the public that there would be no privatization of the University of the Philippines-Philippine General Hospital (UP-PGH) services despite a proposed cancer center project being a public-private partnership (PPP). President Ferdinand "Bongbong" Marcos Jr., who heads the NEDA Board, on Thursday gave the nod for construction of the P6-billion cancer center at the UPPGH in Manila during a meeting in Malacañang. In a Palace press briefing, Balisacan explained that the proposed hospital would be under a buildoperate-transfer arrangement, wherein a private partner is given concession to finance, build and operate a project over a fixed term, after which the project will be returned to the public.
BUSINESS: Diokno: Inflation could slow to 4.5%
Topping business, inflation could decelerate to the upper end of the government's target this year, Finance Secretary Benjamin Diokno said on Friday. Consumer price growth hit a 14-year high of 8.1 percent in December, resulting in a 2022 average of 5.8 percent as projected. It was, however, well over the central bank's 2.0- to 4.0-percent target and 2021's 3.9 percent. Diokno said inflation was expected to return to the target range in 2024. Official data for January is scheduled to be released next week. The Bangko Sentral has said that inflation may have slowed to as low as 7.5 percent but could also accelerate to 8.3 percent. The government expects the rate to hit 2.5 to 4.5 percent this year. The government will particularly focus on agriculture issues, Diokno said, noting that higher food prices were the primary drivers of inflation.
SPORTS: Simmons vows one more win for NLEX
Over to sports, NBA veteran Jonathon Simmons tries to close his brief PBA stint with another win as streaking NLEX tangles with Phoenix Super LPG in the 2022-23 PBA Governors' Cup today, February 4, at the Ynares Center in Antipolo City. Simmons is coming off a 45-point explosion to help NLEX complete a 110-108 upset win over sister team TNT en route to a 3-0 start. The former San Antonio Spur averaged do-it-all numbers of 36.6 points, 9.6 rebounds, and 5.0 assists in three games and will look to maintain that fiery form in NLEX's 4:30 p.m. match against Phoenix. A win will put NLEX back to a share of the lead in the standings with idle Converge. Simmons hopes to make good on his promise of getting his team to a 4-0 start before leaving on Sunday to play in the Chinese Basketball Association.
READ: Opinion and editorial
Antonio Contreras, Yen Makabenta and Danton Remoto are today's front page columnists. Contreras writes from Thailand and explains the differences with this country and the Philippines, Makabenta analyzes the Russian invasion of Ukraine as it nears its first anniversary, and Remoto tackles a radio station discussing a previous column he wrote.
Today's editorial discusses the shortage of phosphorus-based fertilizer. Read the full version in the paper's opinion section or listen to the Voice of the Times.
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For The Manila Times, this is Kim Luden Salinas reporting.