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MINDANAO DAILY NEWS SECOND SECTION Monday - September 30, 2013 BusinessWeek MINDANAO YOUR LOCAL ONLINE BUSINESS PAPER PH growth forecasts to exceed 7-percent CREDIBLE Market Indicators As of 6:10 pm sept. 26, 2013 (Thursday) FOREX PHISIX US$1 = P43.25 6,407.46 points 19 cents X 12.96 points X Briefly Aqua production N O RT H ER N M i n d a n ao’s aquaculture production went up by four percent in the second quarter of 2013 compared to the 17,682.53 metric tons (MT) posted in the same period in 2012. The increase was brought about by the good performance of brackishwater and production of seaweeds, said Engr. Cecilio C l a r e t e , C h i e f Ec o n o m i c Development Specialist of the Development Research Division of National Economic Development Authority (NEDA) in the region. Seaweeds production was recorded at 12,456.58 MT, higher by 4.82 percent from the 11,883.64 MT posted last year while brackishwater registered a 3.03 percent growth posting 4,651.79 MT during the second quarter this year. Just payment THE amount of P1.8 million has been appropriated for the full payment of the claim for just compensation, documentation and registration expenses for a property affected by the construction of the flyover located in Barangay Carmen, this city. The appropriation ordinance was enacted during the City Council regular session on September 23 presided over by presiding officer protempore Ramon G. Tabor. Funds will be taken from the 2012 continuing appropriation of “Non-Office: Land Acquisition and Expropriation” budget. Ordinance No.12662-2013 also authorizes Mayor Oscar Moreno to sign the corresponding Deed of Absolute Sale for the purpose. For Inquiries: Call or Text : (02) 577-3812 09178445981 Email: Website: RELIABLE IN-DEPTH Page 13 T By LOVELY MAE CASENAS Staff Member HE recent rebound in Philippine imports suggests higher exports that could bolster Manila’s economy to grow by over 7 percent this year, Singaporebased DBS Bank Ltd. said Friday. In its latest Da i ly Breakfast Spread, DBS Bank — Southeast Asia’s largest lender — sees the improving Philippine imports feeding d om e s t ic d e m a nd a nd resulting in a recovery in exports receipts. “Not only does this point to continued strength in domestic demand remains but could be signaling further prepa rat ions by ex por t FACE OF POVERTY. Poverty drives this blind woman to begging for alms in buses in Kidapawan City. mindanews photo by geonarri solmerano BSP grants regulatory relief Investment board to conflict-affected banks okays Pulpmill project in M’nao By IRENE DAYO, Reporter BANKS in Zamboanga City affected by the recent conflict have been granted regulatory relief by the Bangko Sentral ng Pilipinas (BSP) that will enable them to lift penalties on clients unable to pay dues. BSP’s Monetary Board issued Memorandum No. M-2013-042 which states: “The Monetary Board, in its Resolution No. 1551 dated Sept. 19, approved the grant of temporary regulatory relief measures to banks with head offices and branches in Zamboanga affected by armed assault or standoff…” Relief measures approved by the central bank include “exclusion of t he loa ns of borrowers in affected areas -- which should have been classified as past due loans…on Sept. 9 and those becoming past due until Nov. 8 -- from computation of past due loan ratio.” T he cent ra l ba n k, however, required banks to “maintain appropriate records on the said loan transactions,” citing the need BSP/PAGE 23 THE Board of Investments (B OI ) h a s p u s h e d f o r investments in an $ 8 0 0 -m i l l ion fore s tbased pu lp mi l l project eastern Mindanao to revive the country’s paper manufacturing industry, which is the only country in ASEAN with no local source of pulp for paper production. This proposed project was presented at yesterday’s Trade & Industry Development Updates, which presented two roadmaps on paper and project/PAGE 23 Mindanao Daily NEWS manufacturers,” the report read, referring to the 8.7 percent annual growth in imports in July. The latest imports data came well above market consensus of a 0.4 percent contraction. “ T h i s s u g ge s t s t h at loca l f irms a re gea ring up for a bounce in export demand towards the yeargrowth/PAGE 23 oro chamber : Power is key to investments Responding to reports that Mindanao will have oversupply of power by 2015, Oro Chamber President Efren Uy is encouraging the Department of Energy (DOE) to revisit its power demand forecast. DOE has given us an annual power demand growth rate of 4.4% Mr. Uy said. “This 4.4% growth estimate for Mindanao has been there before typhoon Sendong and Pablo. So much development has happened after the two disasters,” he added. In Cagayan de Oro City alone, several malls, hotels, condominiums and residences have been put in place. Its growth not just doubled but tripled and we are expecting more investments to come. What more with Davao Oriental and the other areas in Mindanao? Mr. Uy hopes that DOE will appreciate that enough power sources are needed to be able to entice potential power/PAGE 23 northmin . westmin . caraga . davao Your Mindanao-wide Community Newspaper Editorial and advertising email : • Cell Number : 0917-7121424 • 0947-8935776

BusinessWeek Mindanao (September 30, 2013)

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