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BusinessDaily CREDIBLE Volume III, No. 269 Market Indicators As of 6:23 pm AUG. 1, 2013 (Thursday) FOREX PHISIX US$1 = P43.56 6,661.44 points 14 cents X 22.32 points X Briefly Oil price hike ONE of the country’s biggest oil firms Petron Corp. Thursday implemented a price hike on their liquefied petroleum gas (LPG) or cooking gas products. Petron Corp., carrier of cooking gas products “Gasul” and “Fiesta Gas,” implemented price hikes of P1.55 per kilo on their respective products which took effect at 12:01 a.m. Thursday. The price hike would mean a P17.05 added in retail price, since a regular household cylinder of LPG weighs 11 kilos. Petron, in its text advisory sent to the Philippines News A g e n c y, s a i d t h e p r i c e adjustment “reflects movements in the international oil market and the foreign exchange rate”. SMEs interventions PAGADIAN City -- To encourage small and medium enterprises (SMEs) to adopt technology innovations to improve their operations, the Department of Science and Technology is now pursuing a program dubbed “Small Enterprise Technology Upgrading Program (SETUP)” throughout the country. In region 9, the DOST has assisted SMEs operating in the provinces of Zamboanga del Norte, Zamboanga Sibugay and Zamboanga del Sur as well in the cities of Dipolog, Pagadian and Zamboanga. D O S T- 9 R e g i o n a l Information Officer Thelma Diego told a group of media prac titioner s in a recent press conference here that the “interventions” usually extended to the SMEs include equipment acquisition, system improvement, process improvement, plant layout, manpower development and others. Cagayan de Oro City RELIABLE Friday IN-DEPTH P15.00 Powerhouse cast for the 22nd MinBizCon August 2, 2013 D By FLORIENNE MELENDREZ, MindaNews AVAO City – At least a dozen Cabinet secretaries and business tycoons will be the key speakers during the 22nd Mindanao Business Conference (MinBizCon) that will have President Benigno Aquino III as the major guest. LATE REGISTRANTS. At around 9 in the evening, registrants are still queuing at the Commission on Election in Cagayan de Oro City Wednesday, the last day for voters registration for the Sangguniang Kabataan elections in October. photo by rolando sudaria T his yea r’s t heme is “Moving Towards ASEAN Business Integration.” It is slated on August 8 to 10 at the SMX Convention Center in Lanang. Hosted this year by the Davao Cit y Chamber of Commerce and Industry, Inc. (DCCCII), MinBizCon is the largest annual gathering of top government and business leaders and members of chambers of commerce in the island. President Aquino is set to deliver his message on August 10. Mayor Rodrigo Duterte will deliver a welcome address during the event organized by the Philippine Chamber of Commerce and Industry (PCCI). Orga n i z ers s a id t he senior government officials inv ited to present were Trade Secretary Gregory Domingo, Finance Secretary Cesar Purisima, Science and Technology Secretary Ma rio Montejo, Energ y cast/PAGE 11 San Miguel to build Forbes magazines’ wealthiest Filipinos 600-MW coal power *Mall tycoon Henry Sy remains on top plant in Mindanao MALL magnate Henry By IRENE DOMINGO, Reporter CONGLOMERATE San Miguel Corp. (SMC) last week said its power subsidiary SMC Global Power Holdings Corp. has broke ground on its first power plant in Mindanao in a bid to address the severe power crisis in the region. The 600-megawatt clean coal-fired power plant is constructed in Malita, Davao del Sur, the fourth in the company’s portfolio. It is scheduled for completion in 2015. SMC President and chief operating officer Ramon Ang said the plant aims to help balance the power supply differential between north and south Mindanao and provide reliable and continuous supply of electricity at a lower cost. build/PAGE 11 Sy again topped Forbes magazine’s list of the richest Filipinos for this year. With a net worth of $12 billion, Sy and his family, owners of the country’s largest chain of malls, SM, and the Philippines’ biggest bank, BDO, leads the magazine’s list of the country’s 50 richest people. T he Sy f a m i ly i s followed by Lucio Tan and his family, with a combined net worth of $7.5 billion. Tan owns forbes/PAGE 11 Editorial and advertising email : • Cell Number : 0917-7121424 • 0947-8935776

BusinessDaily (August 2, 2013)

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