BusinessDaily CREDIBLE
Volume III, No. 288
Market Indicators
As of 6:14 pm sept. 3, 2013 (Tuesday)
FOREX
PHISIX
US$1 = P44.47
6,083.91 points
5 cents
X
22.11 points
X
Briefly Business start-up THE Department of Trade and Industry (DTI), through the Bureau of Micro, Small and Medium Enter prise Development (BMSMED), b e ef s u p i t s ef fo r t s to encourage new business start-ups by conducting free entrepreneurship sessions every month. “We invite individuals who want to start their own businesses or those in the early stages of their business start-ups to take advantage of these sessions and gain useful insights and guidance from experts,” BMSMED Officerin-Charge Jerry T. Clavesillas said. “For September, we have lined up nine sessions, which will basically enlighten the participants on the nitty-gritty of starting and managing a business,” Clavesillas added.
Islamic financing D A VA O C i t y - - K i n g Cooperative is out to grab the many opportunities offered by Mindanao’s growth and improving peace and order situation by going into Islamic Financing before the year ends. “ We are planning to offer Islamic Financing in a few months; we are still preparing and finalizing our cooperation with the Peace and Equity Foundation (PEF) for this noble program,” King Development Cooperative General Manager Nestor Ortigoza said. And even without such partnership, he said, we are committed to be part of the peace and development process in Mindanao through this endeavor.
RELIABLE
IN-DEPTH
405-MW coal plant to rise in M’danao Cagayan de Oro City
Wednesday
September 4, 2013
P15.00
L
ANAO del Norte will play host to Mindanao’s newest commitment for a coal-fired power plant to be built next year.
TOPPLED DOWN. NGCP Tower 168 in Km 14, Barangay Madia, Sultan Kudarat town in Maguindanao was bombed on Sept. 1, 2013 causing a total blackout in Cotabato City and nearby areas. mindanews photo by ferdinandh cabrera
Manobos barricade mining firm in Surigao del Norte By ROEL CATOTO, MindaNews
C L AV E R , S u r i g a o d e l Norte— A group of Manobo tribesmen has barricaded since Monday, Sept. 2, the entrance to the stockpile area of a mining firm in this town to demand royalty. The Manobos, who came from Barangay Pakwan in Lanuza, Surigao del Sur, belong to the Kahugpungan sa Nag k a hiusa ng Tr ibu nga Manununod sa Yutang Kabilin (Kantrimyuka). T hei r spoke spers on, Ba r a ngay C ha i r Romel Dawog of Pakwan, said part of the land where Adnama M i n i ng Re sou rce s I nc . (AMRI) operates is within their ancestral domain.
Dawog told MindaNews he was speaking on behalf of Dat u Ma nsa Sa muel Dawog Sumanda, a leader of Kantrimyuka and a close relative. The group has put up a makeshift dwelling at the main entrance to AMRI’s stockpile area in Barangay Urbiztondo, Claver. Dawog sa id A MR I would be forced to stop its operations as its heavy equipment could not pass the access road where the nickel ores are being stockpiled for shipment. He said the company has violated their rights for mining/PAGE 11
AC Energ y Holdings, Inc. (ACEHI), the power subsidiary of Ayala Corp., is expecting to start the construction of the plant next year, the listed conglomerate said in a recent disclosure, in a bid to address electricity lack in the island. “The project is currently in pre-development stage s t a r t i n g w it h c le a r i n g operations on the 60-hectare site which include preparation of re lo c at ion sit e s for communities that will be affected by construction,” the disclosure read. “Construction is expected to start in the first half of
2014,” it added. ACEHI entered into a joint venture with Power Partners Ltd. Co. to build and operate three power plants each with a capacity of 135 megawatts (MW) in the municipality of Kauswagan in Lanao del Norte. Ayala said “the total project cost still to be determined fol low i ng d iscussions with the engineering and procurement contractor.” Powe r Pa r t ne r s h a s been described as “a private limited partnership engaged in developing and owning power fac i l it ie s i n t he coal/PAGE 11
12.4M Filipinos without jobs after P-Noy leaves office: WB BY THE time President Benigno Aquino III leaves office in 2016, there will s t i l l b e 12 . 4 m i l l ion Filipinos unemployed or underemployed, even if the Philippine economy were to grow at an average of 7 percent a year, the World Bank says. Here are the numbers t hat t he Phi lippine gover n ment mu st pay attention to, according to Karl Kendrick Chua, WB senior country economist: • 3 m i l l i o n unemployed Filipinos as of 2012
JOBLESS. Hundreds of job hunters flock to the jobs fair in Kidapawan City on Feb. 24, 2012. mindanews photo by geonarri solmerano
• 7 m i l l i o n underemployed Filipinos (t hose who do not get
enough pay and are looking for more work) as of 2012 jobs/PAGE 11
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