BusinessWeek MINDANAO Your daily business paper
2013 ppi’S Best in Business and Economic Reporting
Volume V, No. 149
Market Indicators
As of 6:35 pm apr. 22, 2015 (wednesday)
FOREX
PHISIX
US$1 = P44.22
7,784.41 points
4 cents
X
X Briefly 62.53 points
New supply deal THE Philippines’ energy regulator wants new power supply agreements (PSAs) to be submitted by both generators and distributors — instead of just one party — to regulate electricity rates more effectively. Electrical linesmen install new power lines in Manila in this March 2013 photo. The energy regulator has drafted new rules to ensure consumer protection. — AFP In a resolution published yesterday, the Energy Regulatory Commission (ERC) directed distribution utilities (DUs) and generation companies (GenCos) “to jointly file with the Commission their respective applications for the approval of their PSAs.” The resolution was issued in lieu with the ERC’s review of the PSA rules, an amendment of which was prepared as early as 2013.
Siargao Island BUTUAN City -- Siargao Island, the country’s surfing capital, has been declared labor law compliant tourist destination by the Department of Labor and Employment (DOLE). Labor secretary Rosalinda Dimapilis-Baldoz along with Surigao del Norte governor Sol F. Matugas, and 1st district representative Francisco T. Matugas led the unveiling of the marker at the port of Dapa on Apr. 17, 2015. The symbol of compliance assures foreign and local tourists and other visitors stepping ashore in the island that labor laws are being observed, hence, they can be guaranteed of optimum service. Further, investors will pour in more investments and more jobs will be created. “We aim for decent jobs with no exploitations and no malpractices. Kaya inaayos ang lahat na maging labor laws compliant tourist destination upang magkaroon ng payak na pundasyon at matamasa ang panghabangbuhay na kaunlaran,” Sec. Baldoz said.
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Thursday | April 23, 2015
$7,000 up for grabs in 2015 Siargao surfing tourney By ERWIN MASCARIÑAS, MindaNews
BUTUAN City – The 8th Wo m e n I n t e r n a t i o n a l Sur f ing comp et it ion is expected to be the biggest t o d at e a s t o p s e e d e d international surfers will compete for a total cash price of US$7,000 on May 4 in General Luna, Siargao Island.
“As of the moment, this is the biggest total cash prize money for a women surfing competition in the Asian circuit,” said Gerry Degan, contest director. The champion will get US$3,000, while the runners-up will get $1,500, $1,000 and $500. Degan explained that
the competition, which will last until May 9 at Cloud 9, is part of the Asian Surfing Competition (ASC) circuit. “The ASC circuit will give women surfers from all over the world a chance to get much needed points to help them push their inter nat iona l ran kings. Siargao Island is one of those surfing/PAGE 11
Hedcor unveils hydro plant on Earth Day
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By BONG D. FABE, Editor-at-Large
ANOLO FORTICH, Bukidnon— Giving emphasis to its commitment to protect the environment, Hedcor, Inc. held the groundbreaking ceremony of its P12.5-billion, 68.8 megawatt (MW) run-of-river hydropower plants yesterday, April 22, in time for the celebration of Earth Day 2015. Rene B. Ronquillo, Hedcor president and COO, said that “it is normal for Hedcor” to take care of the environment and the communities it is working in before profit. “We are committed to take care of the environment during construction and during operation,” he said, as he explained that the wholly-owned subsidiary of AboitizPower that specializes in generating renewable energy from run-of-river hydropower systems, “can do well only by doing good: We
raise money by taking care of the community we are in and the environment.” Ronquillo stressed that Hedcor’s operating principle centered on the 3Ps, which stands for People, Planet and Profit. “ The profit comes afterwards. But first, we have to take care of the people and the planet” even before the actual start of the plant construction and operation. He d c or h a s a l re a d y given various support to hedcor/PAGE 11
GROUNDBREAKING. Rene B. Ronquillo (5th from right)), president and COO of Hedcor, Inc. leads the groundbreaking ceremony of Hedcor, Inc.’s P12.5-billion, 68.8 megawatt (MW) run-of-river hydropower plants in Manolo Fortich, Bukidnon on Earth Day (April 22). photo by bong d . fabe
Zambo power firm adopts ILP to shorten brownout ZAMBOANGA City -- The Zamboanga City Electric Cooperative (Zamcelco) is set to launch anytime the Interruptible Load Program (ILP) in a bid to shorten the hours of brownout in
this city. Eng’r. George Ledesma, Zamcelco general manager said Wednesday, at least 15 big locally-based companies w i l l p ar t icip ate in t he program that would redound
to power generation of 16 megawatts (MW). Ledesma said the daily rotational brownout will be shortened to only two hours daily once the ILP is in place. brownout/PAGE 11
DSWD to census 15.3-M poor Households COMMITMENT OF SUPPORT. Hedcor’s COO Rene Ronquillo signs the company’s commitment to strictly follow its 3Ps principle (People, Planet and Profit) in the construction and operation of its hydropower plants in Manolo Fortich, Bukidnon. photo by bong d . fabe
By MARK FRANCISCO
THE Department of Social Welfare and Development (DSWD) expects to cover a total of 15.3 million poor households as the second round of its nationwide census kicks off in May, an official said Wednesday. In Northern Mindanao, the DSWD expects to identify and map 793,989 p o or households in the region starting the month of May until June this year, Ian census/PAGE 11
EARTH DAY. Sec. Neric Acosta, Presidential Adviser on Environment Protection and Hon. Orlando Ravanera lead in the planting of bamboos along the bank of the Iponan River to mark the Earth Day. (CDA-10 photo)
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