BusinessWeek MINDANAO
YOUR Mindanao-wide BUSINESS paper
CREDIBLE
Volume VII, No. 137
Market Indicators As of 5:00 pm April 11, 2017 (tuesday)
FOREX US$1 = P49.779
PHISIX 7,617.91
X X Briefly
38.7
34.16
cents
points
Electronic smoking A CAGAYAN de Oro City Councilor on Monday pushed for an ordinance that would regulate “vaping” or electronic smoking (e-smoking) in public after the World Health Organization did not provide assurance that e-smoking is safe for human health. Councilor Lourdes Gaane, a doctor and chair of the city council committee on health, said she is concerned about the proliferation of vaping in Cagayan De Oro. Gaane cited the position of the American Cancer Society, which stated that “inhaling a substance is not the same as swallowing it. There are questions about how safe it is to inhale some substances in the e-cigarette into the lungs.”
RELIABLE
IN-DEPTH
Duterte in Middle East to woo more investors www.businessweekmindanao.com
Tue-Wed | April 11-12, 2017
By CAROLYN O. ARGUILLAS, MindaNews
D
AVAO CITY — President Rodrigo Duterte is on his five-day sojourn to three Middle East countries from April 10 to 16 to invite more investors into Mindanao.
Asean commitment LAPU-LAPU City -- The finance ministers and central bank governors of the Association of Southeast Asian Nations (ASEAN) reaffirmed Friday their joint commitment to promote economic growth and strengthen financial integration and stability in the region to guard against risks in the global economy arising from possible protectionist policies and volatilities, while ensuring that economic benefits are shared equitably among its peoples. In a joint statement issued at the end of the 3rd ASEAN Finance Ministers and Central Bank Governors Meeting (AFMGM), they also committed to “remain steadfast” in pursuing ASEAN’s goals to achieve a highly integrated, cohesive economy” that is “competitive, innovative, dynamic, with enhanced connectivity and sectoral cooperation” as well as “resilient, inclusive, peopleoriented, people-centered and connected with the rest of the world” amid the rise of protectionism and geopolitical developments that could derail the recovery of the global economy. “As such, we shall continue to promote economic growth, financial integration, strengthen financial stability, implement appropriate monetary, fiscal and macro-prudential policies in our jurisdictions, and intensify financial cooperation to further advance our region’s resilience,” the joint statement read.
Vendors disallowed THE CAGAYAN de Oro City Council committee on health and sanitation and health insurance during its recent meeting discussed the proposed ordinance prohibiting ambulant vendors from selling within 50-meters from schools. This is to comply with issued guidelines on food safety in school canteens, as contained in DepEd Order No. 52, s. 2008. The order instructs schools division superintendents to oversee the effective management of school canteens. It underscores the responsibility of the school principal for any untoward incident that may happen in school due to non-compliance with school health policies and food safety guidelines.
P15.00
CLOUD NINE ACTION. Women surfing royals around the world will vie for the Siargao Women’s International Cup slated on May 2-6 in Cloud Nine in General Luna, Siargao Island. mindanews photo by roel n. catoto
The President left on Monday for state visits to the Kingdom of Saudi Arabia, Bahrain and the State of Qatar where he is expected to explore partnerships in tourism development, halal food security, Islamic finance and energy security, as well as investments and “he will invite these countries to invest particularly in Mindanao as a way of lifting Mindanao out of both poverty and conflict,” Foreign Affairs Assistant Secretary Hjayceelyn Quintana said at the pre-departure press briefing in Malacanang The President visited Riyadh, KSA on April 10-12 where he met His Majesty King Salman bin Abdulaziz al Saud, proceeded to Manama, Bahrain on April 12-14 in a meeting with His Majesty King Hamad bin Isa Al Khalifa and move to Doha, Qatar from 14-16 to meet with the Emir Sheikh Tamim bin Hamad Al-Thani, said Quintana, who heads the Office of Middle East and African Affairs at the Department of Foreign Affairs. investors/PAGE 11
Siargao hosts world’s surfing queens in May By ROEL CATOTO, MindaNews
GENERAL LUNA, Siargao Island — The countr y’s surfing capital will host the Siargao International Wo m e n’s S u r f i n g C u p Qualifying Series 1,000, the much awaited event among surfing fanatics and enthusiasts on May 2 to 6 at Cloud 9, the country’s most sought after surfing haven. General Luna Mayor Jaime P. Rusillon said Monday that this is the very first time that the International Women’s Surfing Competition Cup will be sanctioned by World Surf
League (Qualifying Series), which means best females surfers around the world will vie for the points and trophies and prize pegged at $10,000 USD, the biggest for a women’s qualifying series 1,000. The World Surf League ( WSL ) , for me rly t he Ass o ciat ion of Sur f ing Professionals (ASP), is dedicated to celebrating the world’s best surfing on the world’s best waves through a variety of best-in-class audience platforms.
T h e WS L h a s b e e n championing the world’s best surfing since 1976, running global events across the Men’s and Women’s Championship Tours, the Big Wave Tour, Qualifying Series, Junior and Longboard Championships, as well as the WSL Big Wave Awards. The League possesses a deep appreciation for the sport’s rich heritage while promoting progression, innovation and performance at the highest levels. Mayor Rusillion, often referred to as the Godfather of Surfing in Siargao Island, surfing/PAGE 11
Uniqlo opens 3 stores in Mindanao By CARMELITO Q. FRANCISCO, Correspondent
DAVAO City -- Japanese fast fashion retailer Uniqlo is opening three new stores in Mindanao, as it continues its expansion in the country. In a statement, Uniqlo Philippines Chief Operating Office Katsumi Kubota said the company will open 3,000 square-meter stores in two SM malls in Davao City, and another at the soon-to-be-opened SM Cagayan de Oro Downtown Premier. “We are committed to growing our business in Mindanao, and look forward to delighting our customers in this region for years to come,”
he was quoted as saying. The first new Uniqlo store will open on May 26 at the SM Lanang Premier, followed by another at SM City Davao on June 2. The Uniqlo store in Cagayan de Oro is set to open by end June. At SM City Davao, Uniqlo is one of 45 new shops and restaurants opening this year, mall manager Maria Lynette A. Lopez said. Ms. Lopez noted the same number of locators are negotiating to lease space at the mall. She expressed uniqlo/PAGE 10
SUMMER. A boy enjoys a bath in the manhole of an irrigation canal in hinterland Barangay Kabacsanan in Iligan City Sunday. mindanews photo by bobby timonera
RE share in PH energy mix tops 31% level By MYRNA M. VELASCO, Contributor
THE share of renewable energy (RE) in the country’s power mix already reached as high 31.4-percent on combination of emerging and conventional technologies, according to Energy Secretary Alfonso G. Cusi. In his presentation during a gathering of the Philippine Norway Business Council, Cusi noted that hydropower at 16.7-percent share still accounts for a big chunk of RE
capacity in the power grids on a national scale. The others are geothermal with 8.8-percent share; solar with 3.1-percent share; wind power cornering 2.0-percent in the pie; and biomass with 0.8-percent. Gas share stood at 17.2-percent last year while oil-based plants accounted for 14.8-percent. Coal energy/PAGE 11
Editorial and advertising email : businessweekmindanao@gmail.com • Cell Number : 0917-7121424 • 0947-8935776