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BusinessWeek THE NEW HD BOX. ONLY FROM PARASAT YOUR LOCAL ONLINE BUSINESS PAPER Issue No. 92, Volume III • July 23-26, 2012 Editorial: 088-856-3344 • Advertising: 0917-7121424 P15.00 Market Indicators AS OF 5:57 PM JULY 20, 2012 FOREX PHISIX ; US$1 = P41.86 11 cents 5,210.89 21.52 points ; Briefly Business summit OROQUIETA City -- Business leaders in Zamboanga Peninsula raised concern on the deficiency of power supply, lack of financing for small and medium businesses and poor peace and order at the end of the two-day 8th Zamboanga Peninsula Business Conference Thursday last week. Jaime J. A. Rivera, Philippine Chamber of Commerce Industry Inc. regional governor for Zamboanga Peninsula, said the resolutions reflect some of the frustrations of the business sector. “As the voice of the business sector in Mindanao, we fully intend to make ourselves heard,’ he said in his remarks. The group has asked the government to assure power sufficiency. Banana facilities THE AGRICULTURE department plans to build three more banana packing facilities in Mindanao this year to help exporters become more competitive, a senior official said. Agriculture Undersecretary for Operations Joel S. Rudinas said the department will establish three banana packing houses in some of the main banana exporting provinces down south. “Two will be in Davao del Norte and the other one will be in either Compostela Valley or Davao City,” said Mr. Rudinas, adding these new structures are on top of the two common packing facilities the department announced in June will be built in Davao del Norte in cooperation with the Mindanao Banana Farmers and Exporters Association. By NELSON V. CONSTANTINO Editor-in-Chief with RUTCHIE C. AGUHOB Contributor M ISAMIS Oriental remains the biggest economy in Northern Mindanao as it posted a total investment worth P457.71 million or a share of 43.02% of the region’s P1.06 billion recorded for the first quarter of this year. Department of Trade and Industry (DTI-10) Regional Director Linda O. Boniao said majority of which went into infrastructure and services and trading and servicing sectors, such as, construction and expansion of tourism-related facilities, like hotels and restaurants, HIGH-RISE HOTELS. Limketkai Hotel rises above other buildings in Cagayan de Oro. At 19-storey, it is the highest and real estate development, skyscraper in the city thus far and is expected to be fully operational early next year. Ayala’s Kukun Hotel nearby mostly located in Cagayan is also almost finished. High-rise and big buildings are clear indications of Cagayan de Oro’s vibrant economy. PHOTO BY SHAUN ALEJANDRAE YAP UY MISOR/PAGE 10 Mindanao SMEs in dire need of better financing schemes AGRICULTURAL and other small- and medium-scale enterprises (SMEs) in Mindanao need more access to financing in order to grow, the country’s biggest business group said in a statement yesterday. The Philippine Chamber of Commerce and Industry (PCCI) said the Land Bank of the Philippines SME/PAGE 10 Beside U.C.C.P., C.M. Recto Ave., Nat’l Highway, Cag. de Oro City Cell No.: 0917-304-6195 BACK TO SCHOOL PROMO! Trained by: RICKY REYES & DAVID’S SALON Makati City Embassy invites Vismin food companies to Turkish National Pavilion at World Expo By MIKE BAÑOS, Correspondent THE Turkish Embassy in Manila is inviting food companies based in Mindanao and the Visayas to visit the Turkish national pavilion at the World Food Expo 2012 (WOFEX) at the World Trade Center on August 01-04, 2012. “We are offering qualified participants two nights’ complimentary hotel accommodations from July 31 to August 02, 2012 at Hotel Sofitel Philippine Plaza,” said Mahmut D. Dalkilic, Chief Executive Officer of Mondebest International Corporation, a Turkish company based in this city. Mr. Dalkilic said in- vitation to companies in Southern Philippines is organized by the Office of the Commercial Counselor of the Turkish Embassy, the Ministry of Economy and the Central Anatolian Exporter Unions. “Representatives from EMBASSY/PAGE 10 Turkish Ambassador Hatice Pinar Isik during his courtesy call to Vice Mayor Ian Acenas at the Cagayan de Oro City Hall last year. FILE PHOTO


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