BusinessDaily (September 5, 2013)

Page 1

BusinessDaily CREDIBLE

Volume III, No. 289

Market Indicators

As of 5:59 pm sept. 4, 2013 (Wednesday)

FOREX

PHISIX

US$1 = P44.42

5,968.33 points

5 cents

X

115.58 points

X

Briefly Investment Code DAVAO City -- The Tagum City government is drafting a new investment incentives code. Allan L. Rellon, mayor of the Davao del Nor te capital, which is about an hour from here by bus, said that the Tagum City government is pushing for new perks in the proposed code. “We need a new policy that will entice investors to consider our city,” Mr. Rellon said. He added that the local government is still finalizing a package of incentives that will be offered to new investors and noted noting that these would include property tax holidays.

Water treatment Z AMBOANGA Cit y - The Zamboanga City Water District (ZCWD) on Wednesday announced its plan of establishing new water treatment facilities in the city’s two districts. The plan which was announced during a regular session of the city council was described by some councilors as too ambitious, as its cost is almost double than the assets of the firm. No less than ZCWD General Manager Leonardo Rey Vasquez, stood in the front line, to explain to the councilors about an urgent need to pursue said project, in anticipation of increasing number of water concessionaires starting year 2014.

RELIABLE

Cagayan de Oro City

Thursday

IN-DEPTH

September 5, 2013

P15.00

INTERIM MINDANAO ELECTRICITY MARKET

Higher rates seen as spot market operates T

By IRENE DAYO, Reporter

HE Interim Mindanao Electricity Market (IMEM), which will begin operation next month, may cost Mindanao consumers higher power rates.

STELLAR GROWTH. The Philippine’s stellar economic performance has pushed its ranking in world competitiveness six notches higher.

GLOBAL COMPETITIVENESS

This after the Philippine Electricity Market Corp (PEMC), which will operate the electricity spot market based in Cagayan de Oro City, filed a petition before t he E nerg y Reg u lator y Commission (ERC) to charge IMEM participants a rate of P0.0021 per kilowatt-hour (kWh). The amount is based on the P20.9 million budgetary requirement for the IMEM and the projected energy volume of 10,116 gigawatthours that will be coursed through the latter.

In its petition, PEMC also asked the regulatory commission to allow it to recover P34.3 million in fees collected from Wholesale Electricit y Spot Market participants in Luzon and the Visayas and used to set up the IMEM. To shield consumers from a possible spike in power rates, PEMC proposed the recovery to be imposed only on IMEM participants with at least five megawatts demand for three years. This will redound to about P18,000 rates/PAGE 11

PHL improves six notches Abolish pork barrel, higher in world ranking says Misor lawmaker THE Philippines’ ranking in the World Economic For u m (W EF) Globa l Competitiveness Report 2013-2014 has improved by six notches from rank 65 out of 144 economies worldw ide i n 2012 to

59th this year out of 148 economies. This is disclosed by WEF through the Makati Business Club (MBC) which called a press conference Wednesday morning for the announcement of the latest

Global Competitiveness Report. T h e Globa l Competitiveness Report is an annual report measuring the competitiveness of an economy t hroug h 146 improves/PAGE 11

REPRESENTATIVE Juliette Uy of the second district of Misamis Oriental yesterday declared her stand on the controversial “pork barrel” and pushed for a better system of delivering government services to all areas in the country. “We support the people’s clamor to abolish the Priority Development Assistance Fund (PDAF) or the pork barrel system that has been abused by certain legislators facility in Mt. Apo. In a resolution, councilor and private individuals. The Ruby Padilla-Sison stressed said abuse spans years of it i s h ig h ly-i ron ic t hat throwing good money for t he c it y is host to t wo bad that has severely tainted geothermal power plants the legislature and deprived dispatch/PAGE 11 our people of the much need

City dad seeks load dispatch from geothermal plants due to NorthCot By MALU CADELINA-MANAR, MindaNews

KIDAPAWAN City -- With long daily brownouts since August, a city councilor here has urged President Benigno Aquino III to order the National Power Corp.

(Napocor) and the Lopezled Energy Development Corp. (EDC) to prov ide North Cotabato 25 percent of the load dispatch from t h e g e o t h e r m a l p owe r

UY

services to alleviate their plight,” Uy said. The neophyte legislator was also open to the option to subtract the PDAF allocation abolish/PAGE 11

get your news straight and fast

Mindanao Daily NEWS northmin . caraga . davao E-mail: mindanaodailynews@gmail.com

Editorial and advertising email : businessweekmindanao@gmail.com • Cell Number : 0917-7121424 • 0947-8935776


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.
BusinessDaily (September 5, 2013) by Mindanao Daily News - Issuu