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Volume V, No. 25
Market Indicators
As of 5:56 pm August 1, 2014 (Friday)
FOREX
PHISIX
US$1 = P43.77
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Briefly Local hiring PHILEX Mining Corp. subsidiary Silangan Mindanao Mining Corp., Inc. (SMMCI) said it plans to tap more Surigao del Norte locals for employment. T h e a n n o u n c e m e n t wa s made after the inauguration of the Provincial Community Training Center (PCTC) in Placer last week, where technical and vocational trainings will be offered to outof-school youth, as well as the unemployed and underemployed. According to SMMCI, the company will be providing skills training which will include shielded metal arc welding, automotive servicing, electrical installation and maintenance, consumer electronics servicing, driving, and garment making.
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Region-12 is M’nao’s top economy in 2013 www.businessweekmindanao.com
Monday | August 4, 2014
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By MINDANEWS
EGION 12 or Soccsksargen’s economy grew at an all-time high of 8.4 percent in 2013, taking the top spot in the entire Mindanao in terms of overall economic performance.
Push for MSMEs BUTUAN City -- Agusan del Norte Provincial Governor Ma. Angelica Rosedell M. Amante-Matba gave full support to the small, micro and medium enterprises and put more emphasis on projects and programs that will give additional income for the community. This is one of her 6-point guides in the administration of the province that she is pushing. Recently, she indorsed to the Sangguniang Panlalawigan of Agusan del Norte for appropriate action her letter dated June 18, 2014 requesting for an authority to enter into and sign the Memorandum of Agreement (MOA) in behalf of the province with the Bangko Sentral ng Pilipinas (BSP), represented by its Governor, Amando M. Tetangco, Jr., the Development Bank of the Philippines (DBP), represented by its President and Chief Executive Officer, Gil A. Buenaventura, the Land Bank of the Philippines (LBP), represented by its President and Chief Executive Officer, Gilda E. Pico and the Industrial Guarantee and Loan Fund (IGLF), represented by its Chief Executive Officer, Benel D. Lagua for the implementation of the Credit Surety Fund (CSF) Program in the province.
THE
EARLY MORNING CATCH. Fishermen in Opol, Misamis Oriental stand on their wooden boat or banca while slowly drawing the net back. mindanews photo by erwin mascarinas
Globe Telecom pushing Mindanao clients to invest more in ICT By CARMELITO Q. FRANCISCO, Correspondent
DAVAO City -- Globe Telecom Inc. called on local companies to invest in information and communications technology (ICT) solutions to help them
grow their businesses. Chepo R. Garcia, company sales head on enterprise segments for Mindanao, said the company is counting
on more investment ICT products, particularly the top local companies. “We believe we will be able to help them grow their investments with the use of globe/PAGE 7
Herlita Caraan, National Statistical Coordination B oard Region 12 head, said Thursday the region’s industry and services sectors continued to grow at a faster rate last year, pulling up the area’s Gross Regional Domestic Product (GRDP) rate by an additional 0.4 percent from 2012. She said the region’s accelerated growth was significantly higher than the country’s total output last year that reached an average of 7.2 percent. “R eg ion 12 was t he fastest-growing economy in Mindanao last year and the third in the entire country,” she said in a press conference at the Sun City Suites here. She said the region only placed second to Caraga in the entire Mindanao and fifth among the country’s 17 regions in terms of economic performance in 2012.
Region 12 covers the provinces of South Cotabato, Sultan Kudarat, Sarangani and North Cotabato and the cities of General Santos, Koronadal, Tacurong, Kidapawan and Cotabato. Caraan said the services sector remained as the top contributor to the regional economy in 2013, accounting for a share of 37.6 percent, which is slightly higher than the 37.3 percent that it posted in 2012. “Services grew faster from 8.1 percent in 2012 to 9.4 percent in 2013 as all of its sub-sectors have expanded,” she said. She noted that financial intermediation surged to 13.1 percent last year from 12.6 percent in 2012, mainly due to the improved performances of banks and other related financial institutions in the region. economy/PAGE 7
Slump in power pulls down Aboitiz earnings in 2Q ABOITIZ Equity Ventures Inc (AEV) registered a singledigit drop in earnings in the second quarter of the year, dragged down by its power and banking businesses. In a disclosure to the Philippine Stock Exchange, the holding firm of the Aboitiz
family said its consolidated profit fell 9 percent year-onyear to P4.6 billion in the April to June period. Excluding extraordinary items, AEV’s core net income declined by nearly a third year-on-year to P4.3 billion in the three-month period.
Power accounted for bulk of the earnings at 76 percent. The share of banking was at 16 percent, while food and property contributed 7 percent and 1 percent, respectively. In the first half, AEV’s aboitiz/PAGE 7
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