Businessmirror may 15, 2016

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Sunday, May 15, 2016 Vol. 11 No. 218

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TIDAL CHALLENGE

Oblivious of the dangers confronting them, two daring fishermen casually sail their fishing boat against the rampaging tides rolling toward them at El Presidente Beach in Buguey, Cagayan, up north straddling the Babuyan Channel. The tiny coastal town is said to be the “Crab Capital of the Philippines.” LEONARDO PERANTE II

Another round of incentives for solar-, wind-power projects China has reclaimed 3,200 acres in South T China Sea disputed area By Lenie Lectura

president inaugurates Bicol’s first 4-lane bridge By Manly M. Ugalde Correspondent

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EGAZPI CITY—President Aquino inaugurated the first Bicol four-lane bridge here four days before the May 9 elections. The President was accompanied by Public Works Secretary Rogelio L. Singson, Albay Gov. Joey S. Salceda and City Mayor Noel E. Rosal. Mr. Aquino proudly crossed on Thursday the P145-million, 135-meter-long Yawa Bridge. It spans the See “Bicol,” A2

A CELEBRATION OF LOVE Dear Lord, when we receive the Eucharist at Mass, it is also a celebration of love, a love for Christ who has become food for our hungry hearts; source of the strength that we need for the battles of life; source of consolation in our pains and sorrows; source of hope in a world shackled by the chains of vice, corruption, callousness, cruelty and despair. May we frequent to receive the Eucharist, thus making us closer to Christ, and making us holy in God’s mercy and love. Amen! Word & Life, Fr. Sal Putzu, SDB, and Luisa M. Lacson, HFL

@llectura

HE National Renewable Energy Board (NREB) on Friday submitted a recommendation to the Department of Energy (DOE) to implement another round of feed-in tariff (FiT) incentives to developers of solar- and wind-power projects.

“We have already finalized our recommendation to the DOE for the next round of installation targets for solar and wind. It was submitted today [Friday],” NREB Chairman Pedro H. Maniego Jr. said in an interview. The NREB is the body tasked by the Renewable Energy Act of 2008 to recommend policies, rules and standards to govern the implementation of the law, which granted fiscal and nonfiscal incentives to renewableenergy (RE) projects. Continued on A2

Mining company paves 22-km road network for Didipio mine up north By Leonardo Perante II Correspondent

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ANTIAGO CITY—The 22-kilometer service-road network developed by Australian mining firm OceanaGold (Philippines) Inc. to and from its mine site in Didipio, Kasibu, Nueva Vizcaya, through Cabarroguis, Quirino, is undergoing pavement construction, with sharp curves and slopes given top priority. “The upland highway does not only serve as a delivery road for mineral concentrates, but also serves as a farm-to-market road for large-scale agricultural crops and livestock from the mining village and contour farms nearby,” Mines and Geosciences Bureau (MGB) Regional Director for Cagayan Valley Mario A. Ancheta said. He said this first city in Isabela is a business confluence point in Cagayan Valley and is a major beneficiary of the farm products coming from hillside farms at the vicinity of the mining project. Ancheta said residents from the project area, especially those who live along the service road, can now

PESO exchange rates n US 46.5840

Soldiers from the Chinese People’s Liberation Army Navy watch as the USS Blue Ridge arrives at a port in Shanghai on May 6. Seeking to calm escalating tensions in the South China Sea, top generals from China and the US spoke by phone on Thursday, and said they were ready to work out an effective mechanism to prevent confrontation and maintain stability in the region. AP

W A 22-kilometer service road that connects the OceanaGold-Didipio mine site in Kasibu, Nueva Vizcaya, to the rest of the country undergoes pavement construction. Mines and Geosciences Bureau Cagayan Valley Director Mario A. Ancheta (inset) leads tight monitoring of the large-scale mining project. LEONARDO PERANTE II

reach urban centers, shopping malls, commercial banks, their favorite fast-food chains and university belts quickly via the mining road. “Farmers in Barangay Didipio find it more convenient to transport their farm products now because of the all-weather road established by the mining firm, which is

gradually being paved. The upland highway was designed according to world-class mine-safety standards, which makes it easier for our MGB team to closely monitor the Didipio mining operation,” Ancheta added. The MGB regional director said that, while the road was opened in See “Mining,” A2

ASHINGTON—China has reclaimed more than 3,200 acres of land in the southeastern South China Sea. But the country’s focus has shifted to developing and weaponizing those man-made islands so it will have greater control over the maritime region without resorting to armed conflict, according to a new Pentagon report. In its most detailed assessment to date of China’s island-building program, the defense department said three of the land features on the Spratly Islands now have nearly 10,000-foot runways and large ports in various stages of construction. And it has excavated deep channels; created and dredged harbors; and constructed communications, logistics and intelligencegathering facilities. The report argues that the accelerated building effort doesn’t give China any new territorial rights. But it says the airfields, ship facilities, surveillance and weapons equipment will allow China to significantly enhance its long-term presence in the South China Sea. “This would improve China’s ability to detect and challenge activities by rival claimants or third parties, widen the range of capabilities available to China and reduce the time required to deploy them,” according to the report released on Friday. See “China,” A2

n japan 0.4273 n UK 67.3372 n HK 6.0037 n CHINA 7.1514 n singapore 33.9459 n australia 34.1228 n EU 53.0079 n SAUDI arabia 12.4221

Source: BSP (13 May 2016 )


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Businessmirror may 15, 2016 by BusinessMirror - Issuu