Businessmirror february 21, 2016

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n Sunday, February 21, 2016 Vol. 11 No. 136

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DA: El Niño damages ₧4-billion crops to date Bruce Lee packing a punch

Govt cautious over Mindanao power ROW issue

By Manuel T. Cayon Mindanao Bureau Chief

AVAO CITY— Malacañang is taking a cautious approach to the right-of-way (ROW) issues affecting electric-transmission lines across several Mindanao provinces. The bombing of power pylons and the deliberate growing of trees under high-tension wires point at an ominous scenario if hard solutions are pushed head-on. President Aquino has assured Mindanao leaders that his administration is taking the steps, as he disclosed for the first time that the problem with landowners seeking millions of pesos for rent or “disturbance” payment for the use of their lands may date back to the arrangement the martial-law administration in the 1970s forged with the landowners. On the first week of February, Malacañang ordered an interagency task force created to study applicable and acceptable solution, as landowners took a serious threat to their demand, although government would not immediately link them to the armed men who bombed four power pylons in Lanao de Sur, Lanao del Norte and North Cotabato between October and December last year. The task force was headed by the Department of Energy. It gathered all government agencies and private groups with important function on energy and economic development for Mindanao, including the National Grid Corp. of the Philippines, Mindanao Power Monitoring Commission, Mindanao Electric Power Alliance and the Mindanao Business Council. Even as President Aquino bared that the problem dated as far back as the 1970s, Energy Secretary Zenaida Y. Monzada belied, however, that there was any regular payment done at that time. “None that I know of,” she told reporters immediately after the first meeting of the task force on February 4. She also asked the other members of the task force, including former officers of the National Power Corp. (Napocor), the agency that once See “ROW,” A2

D

T

HE ongoing El Niño episode has damaged 304,104 metric tons (MT) of crops, valued at P4.002 billion as of February 18, the latest report from the Department of Agriculture (DA) showed.

DA Field Operation Service Officer in Charge Christopher Morales said P3.43 billion of the total damage came from 2015 records, while P576.16 million was recorded from January 1 to February 18 this year. Data from the agency also revealed that 101,553 farmers tilling 194,056 hectares of land were affected by the drought. Morales said 126,789 hectares of the affected area still have a chance of recovery. The country’s corn sector took the brunt of the damage with 195,694 MT of production lost, amounting to P2.36 billion. About 133,480 hectares of land planted See “El Niño,” A2

The current El Nino, nicknamed Bruce Lee, is already the second strongest on record for this time of year and could be one of the most potent weather changers of the past 65 years, federal meteorologists say.

What is an El Nino 1 Deep,

cold water flows west across Pacific

2 Unusually warm surface 3 Trade winds waters from the Pacific flow toward South America

that normally blow toward equator die

3 Trade winds

AUSTRALIA

Equato r

2 Pacific Ocean

SOUTH AMERICA

1 De ep c old w

ater

What could happen Every few years, the winds shift and the water in the Pacific Ocean gets warmer than usual. El Nino changes rain patterns and usually raises temperatures, changing weather worldwide Warmer than average

Powerful rainstorms

Increased rainfall

Heavy winter rain

Source: World Meteorological Organization, NOAA, AP Graphic: Staff, Tribune News Service

Drier than average

Abnormally dry More rain

Ayalas operated liquor distillery in Pampanga town in the 1860s By Joey Pavia Correspondent

PESO exchange rates n US 47.5590

British Prime Minister David Cameron (center) speaks with Greek Prime Minister Alexis Tsipras (right) and European Council President Donald Tusk during a meeting at an EU summit in Brussels on Thursday. AP/Geert Vanden Wijngaert

E

M

AC A BEBE, Pampanga— Ancestors of the Zobel de Ayalas, owner of the country’s largest and oldest conglomerate, operated in the middle of the 19th century two alcohol and liquor plants here, Supreme Court (SC) documents and studies of Pampanga-based historians showed. Margarita Roxas de Ayala was then 28 years old when she took over the management of the Destilería de Ayala, a subsidiary of the Ayala y Compañia. The Destilería established in 1860 alcohol and liquor plants in barangays San Esteban and Consuelo in this town, said historian and professor Charlene P. Manese, holder of a Master in Archaeology and Heritage at the Universidad Pablo de Olavide in Seville, Spain, and founding member of Pampanga’s Katipunan da ring Talasakiksik at Talaturung Kapampangan (Katatagan) Inc. Ayala y Compañia acquired

Cameron wins E.U. deal to avert ‘Brexit’

AN advertisement of the defunct Destilería de Ayala provided by Pampanga-based historian Francis Musni.

4,000 hectares of nipa palm lands in Pampanga in the second half of the 19th century. The land eventually became the source of raw materials for liquor making to the Destilería de Ayala, Manese said in a lecture pushed by Macabebe Mayor Annette Flores-Balgan and

Municipal Tourism Officer Catherine Flores to highlight the celebration of the town’s 441st founding anniversary last month. Francis Musni, historian, museum curator and university professor, said Margarita, who died at See “Ayalas,” A2

UROPEAN Union (EU) leaders reached a deal aimed at keeping the United Kingdom in the bloc, allowing Prime Minister David Cameron to call a referendum on EU membership as soon as June. “Drama over,” Lithuanian President Dalia Grybauskaite said on Twitter, breaking the news of the deal, as the 28 heads of government met for dinner at the end of a second day of their summit in Brussels on Friday. EU President Donald Tusk confirmed the accord a few minutes later, saying on Twitter that there was “unanimous support” for the agreement. The pound rose on the news, gaining by as much as 0.3 percent to $1.4382 at 9:45 p.m. in London. That’s up from a decline of as much as 0.6 percent earlier in the day. The UK won a seven-year

“emergency-brake” period in which it can impose welfare curbs on other EU citizens arriving to work in Britain, according to the final draft of an EU communiqué prepared for the dinner seen by Bloomberg. One of the most contentious of his demands, Cameron had surprised his counterparts by pressing for 13 years; the original proposal had been for five years. Each worker falling into this category would have their benefits phased in for over four years. The draft text obliges the UK’s financial industry to abide by what the EU calls its “single rule book”—the common rules for banks and credit institutions in every country. However, it gives the UK some flexibility, stating that lenders outside the euro area may be able to have “specific provisions,” giving Cameron Continued on A2

n japan 0.4200 n UK 68.1663 n HK 6.1149 n CHINA 7.2977 n singapore 33.9029 n australia 33.9998 n EU 52.8048 n SAUDI arabia 12.6841

Source: BSP (19 February 2016 )


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