Mindanao Daily NEWS BUSINESS . ECONOMY . CORPORATE . BANKING Your Regional Mindanao-wide Community Newspaper
Volume III, No. 066
DTI-LDN, Iligan projects to add awareness on consumer rights By Angelo A. Devero
ILIGAN CIT Y — The Department of Trade and Industry (DTI) has projected to increase the level of awareness of consumers on their rights and responsibilities from 50% to 80% by 2016, in line with the Philippine Development Plan (PDP) 2011–2016. With this mandate, DTI - Lanao del Norte Provincial Office has launched the Awareness-R aising Campaign for Consumer Empowerment (ARCCE) through the conduct of Consumer Education (Con Ed) Seminar in the barangays and the installation of signages emphasizing the eight consumer rights and the five consumer responsibilities in strategic locations. ARCCE aims to increase the level of awareness on consumerism especially in rural areas by augmenting their knowledge and consciousness on the Consumer Act of the Philippines and other fair trade laws, said Ruel B. Paclipan, Provincial Director, DTI Lanao del Norte.. Further, the awareness campaign will increase the volume of consumers to purchase duly licensed products and regularly patronize business establishments which are compliant to government regulations; educate substantial number of residents in identifying and understanding their rights and responsibilities as consumers; and sensibly See rights, page B3
Friday
Editor : Cheng Ordoñez
See story on Page 12 August 8, 2014
After Makati
CDO ranked second Most Competitive City By Mike Banos, Editor-at-Large
CAGAYAN DE ORO CITY – The City of Golden Friendship has been ranked as the second most competitive city in the Philippines after Makati City, the country’s premier financial district by the National Competitiveness Council (NCC). Launched Thursday, Au- Competitiveness Summit, gust 7, 2014, at the Regional See ranked, page B2
WARNING!
Don’t fall for ‘easy, quick or double-your-money’ schemes By Jelly F. Musico
SENATOR Paolo Benigno “Bam” Aquino IV on Thursday warned the public against the so-called ‘double your money’ investment schemes. ”Don’t quickly fall for easy money, quick money or double your money schemes,” Aquino, chairman of the Senate committee on trade, commerce and entrepreneurship, said. The lawmaker said people should avoid falling into investment, pyramid and other types of scams, which now made their way into popular social networking sites, such as Facebook. See schemes, page B3
Senator Bam Aquino
Economy under PNoy: Rising prices eroding low incomes, says IBON Second of three parts THE independent thinktank IBON Foundation said the country’s food prices started increasing more rapidly in the latter part of 2013 and then in the first semester of 2014 which further reduced the value of already low and falling real incomes. “These pushed monthly inflation rates to their highest in the last 2 1/2 years especially with how food consumption can account for 40-50% of total expenditure of the country’s vast low-income households,” it said.
The rising prices have to be measured for their impact given the actual levels of poor families’ incomes. Rough estimates on the results of the latest 2012 Family Income and Expenditure Survey (FIES) show that the poorest 70% of Filipinos––or some 66 million Filipinos––try to live off incomes of around just P38, P51, P59, P71, P84, P100 and P125 per day (corresponding to the lowest seven income deciles). “These were computed by See Incomes, page B3
SMIC revenue up 7.2% to P131-B in 2014 H1 SM Investments Corporation (SMIC), the holding company of SM conglomerates, has reported a total revenue of Php 130.9 billion for the first six months of 2014. SMIC said in a disclosure to the Philippine Stock Exchange (PSE) on Thursday
that its revenue in the first half of this year grew by 7.2 percent from Php 122.1 billion in last year’s same period. The company’s net income, on the other hand, declined by 3.1 percent to Php 12.3 billion in JanuaryJune this year against last
year’s Php 12.7 billion. SMIC’s property business SM Prime Holdings Inc. accounted for 40.5 percent of the net income with a total of Php 9.8 billion, which went up by 11.7 percent from Php 8.8 billion in 2013’s first half. The strong revenues
in its property market in January to June period was pushed by robust growth in its rental business. BD O Unibank Inc., SMIC’s banking arm, has shared 39.8 percent of the profit in the first half of this year. “BDO Unibank Inc. re-
corded a net income of Php 11 billion compared with Php 14.2 billion in the first half of 2013 which reflected non-recurring trading gains,” SMIC said. Retail operations of the company accounted for 19.7 percent of the See revenue, page B3
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