Businessmirror august 07, 2016

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A broader look at today’s business n

Sunday, August 7, 2016 Vol. 11 No. 302

P25.00 nationwide | 3 sections 16 pages | 7 days a week

REFRESHING DIP A catch basin of Didipio River upstream, the Addalam

Irrigation Dam in San Leonardo Aglipay, Quirino, provides refreshing dips to two local boys with its crystal-clear water. On a corporate level, OceanaGold (Philippines) partnered with the International River Foundation to promote the sustainable management of river basins and waterways downstream. LEONARDO PERANTE II

Dollar climbs as job gains bolster case for Fed rate increase

T

HE dollar rose, touching its strongest in more than a week against the euro, after a report on US job growth for July bolstered bets the Federal Reserve (the Fed) will raise interest rates as soon as this year. The greenback climbed versus major currencies, posting its biggest weekly gain since June versus the euro, as the Labor Department said nonfarm payrolls climbed 255,000 in July, compared with the 180,000 median forecast in a Bloomberg survey. See “Dollar,” A2

YOU ARE OUR REFUGE

DEAR Lord, with all our voices, we cry to You; with all our voices, we entreat the Lord. We pour out our troubles before You; we tell You all our distress, while our spirit faints within us. But You, O Lord, know our path. To You we cry, O Lord, we have said, “You are our refuge, our portion in the land of the living.” Listen then to our cry, for we are brought down very low. Rescue us from those who pursue us, for they are stronger than us. Bring our soul out of prison, and we shall give thanks to Your name. Around us the just will assemble because of Your goodness to us. We continue to say, “You are our refuge all the days of our lives.” Amen! Give Us This Day, Committee on Divine Worship, Shared by Louie M. Lacson

Peso to end 2016 weaker than expected vs dollar By Bianca Cuaresma

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@BcuaresmaBM

HE local currency may end the year weaker than expected, as the US shows stronger economic indicators, pushing the dollar to a stronger position, a bank economist said.

In his most recent views on the local economy, ING Bank Manila economist Joey Cuyegkeng said they have reverted their forecast of the peso back to 47.50 to a dollar, from the earlier 46.6 to a dollar. This is in line with their view the foreign-exchange market players would expect in an interest-rate hike in the first quarter of 2017 from the US Federal Reserve. See “Peso,” A2

Poor students go to school on boats provided by LGU By Joey Pavia Correspondent

PESO exchange rates n US 47.0140

An “Out of Order” sign is posted on the elevator of the Metro Rail Transit Line 3 Buendia station in Makati City, in this July 4, 2016, file photo. Ed Davad

By Krysten Mariann Boado

M

AC ABEBE, Pampanga— At least 700 elementary- and high-school students, most of them poor and living in coastal villages here, are able to go to school, thanks to the free boat-ride project of Mayor Annette Flores-Balgan. Balgan, a three-term mayor who prioritized education and livelihood, started the free transportation for students shortly after she assumed her post in 2010. This was “to limit the number of early marriages and teenage pregnancies, and allow young people living in far areas access to public education.” “When I was visiting the coastal villages a long time ago, I spoke to young people carrying children. I thought the babies were either their younger brothers or sisters tagging along with them. I was surprised to learn the babies were their children,” Balgan said.

MRT 3 is not PWD friendly

Special to the BusinessMirror

C

STUDENTS living along the coastal villages of Macabebe, Pampanga, go to school and are ferried home after on free boat rides, courtesy of Mayor Annette Flores-Balgan. LEO VILLACARLOS

“They seek partners even before reaching the age of 18, because they don’t go to school anymore. The fee for a boat ride was

expensive for them, or there was no boat ride at all in some areas of the town’s coastal villages,” she said.

ATALINA Magsucang is no stranger to the struggles of commuting. To get to her workplace in Ayala, the 49-year-old data processor takes a cab from Crossing, Ortigas Center, Mandaluyong City, and braves the infamous Edsa traffic, which costs both her patience and her money. Magsucang considers herself luckier than most to afford a cab to work and acknowledges that not everyone can spend the same amount she does. On good days, she pays P120 for her taxi fare. On bad days, where the road rages with bumper-to-bumper busses and cars and the heavens look down on weary commuters with its crying eyes, getting to the office costs her P200, a

large amount compared to the P16 she could have paid if she had taken the Metro Rail Transit Line 3 (MRT 3). Unfortunately for Magsucang, she is left without a choice, but to take a taxi and sacrifice a chunk of her income in exchange for convenience, as the MRT 3 remains both inaccessible and dangerous for persons with disabilities (PWDs) like her. “The first time I rode the MRT, I had to walk very far and climb up the stairs because the elevator was broken,” Magsucang said, recalling her experience in 2006. “Until now, the elevator is still out of order, which is why I no longer ride the MRT. I don’t want to ride the MRT.” Having been inflicted with polio when she was only a year old, Magsucang admits that Continued on A2

See “Boat,” A2

n japan 0.4645 n UK 61.6448 n HK 6.0616 n CHINA 7.0776 n singapore 35.0432 n australia 35.8576 n EU 52.3360 n SAUDI arabia 12.5371

Source: BSP (5 August 2016 )


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Businessmirror august 07, 2016 by BusinessMirror - Issuu