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Trade between China and Russia hit a record high in 2023, official Chinese data showed on Friday, while commerce with the United States fell for the first time in four years. China-Russia trade reached more than $240 billion, China Customs figures showed, overshooting a goal of $200 billion set by the neighbors in bilateral meetings last year. The figure is a record number for the two countries, which have grown closer politically and economically since Moscow's invasion of Ukraine in 2022. Beijing has drawn criticism from Western countries for its stance on the Ukraine war, on which China insists it is neutral. It has refused to criticize Moscow's invasion. The trade figures represented a year-on-year increase of 26.3 percent, according to the data. In contrast, trade between the US and China fell for the first time since 2019. Commerce with the United States was valued at $664 billion last year, down 11.6 percent year-on-year. The post China-Russia trade at record high in 2023 appeared first on Daily Tribune.

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17.01.24 01:49

by tribune.net.ph

Power hike for January in Metro Cebu

After several reductions in power rates in Metro Cebu, Visayan Electric announced that residential consumers will experience an increase of 19 centavos per kilowatt hour for the January-February billing. The hike was due to the increase in generation rates at the Wholesale Electricity Spot Market (WESM) and the transmission charges of the National Grid Corporation of the Philippines ( NGCP). Visayan Electric in a statement said that the increase brings the average residential electricity rate from P11.43/kWh last December 2023 to P11.62/kWh. Engr. Raul Lucero, the president and COO of Visayan Electric, said that historically, energy consumption tends to spike when the weather is hot due to increased reliance on cooling appliances. He also underscores the importance of energy-conscious choices and recommends exploring natural means of cooling homes, emphasizing the significance of proper ventilation. "Natural ventilation is key to making your homes feel airy and cool, especially during the night," he said. He suggested a simple yet impactful change as swapping incandescent light bulbs for energy-efficient LEDs. Beyond the energy savings, Lucero further said, this switch helps mitigate the heat generated by incandescent bulbs, contributing to a more cost-efficient and comfortable living environment. Consequently, households consuming a minimum of 200kWh per month can anticipate an additional charge of P38.00 for the January-February billing cycle. WESM is the venue for trading electricity as a commodity in the Philippines. It was created under Section 30 of Republic Act No. 9136, otherwise known as the Electric Power Industry Reform Act (EPIRA) of 2001. Its objective is to establish a competitive, efficient, transparent, and reliable market for electricity. While NGCP is a Filipino-led privately owned company in charge of operating, maintaining, and developing the country's electricity transmission grid. The post Power hike for January in Metro Cebu appeared first on Daily Tribune.