BusinessWeek Mindanao (April 30 - May 1, 2021)

Page 1

BusinessWeek M I N DA N A O CREDIBLE

Volume XI, No. 135

Market Indicators

AS OF 6:00 PM APR. 29, 2021 (THURSDAY)

FOREX US$1 = P 48.315

PHISIX 6,487.51

X X Briefly

16.20

18.37

cents

points

Davao GDP shrinks DAVAO Region’s gross regional domestic product contracted by 7.6 percent in 2020 from a positive growth rate of 7 percent in 2019 owing to the impact of the coronavirus disease (COVID-19) pandemic, according to Philippine Statistics Authority-Davao director Ruben Abaro Jr. During the virtual news conference on the 2020 economic performance of the region on Thursday, Abaro said the region’s economy was estimated at P832.1 billion, lower by P68.8 billion as against P900.9 billion reported in 2019. Of the 11 major industries, he said the “other services,” which include recreation, gambling, and personal services, incurred the biggest contraction at 38.2 percent. This was followed by accommodation and food services activities as well as transportation and storage at 34.7 percent and 34.5 percent, respectively.

‘Economic saotage' THE power generation companies (GenCos) that are experiencing prolonged outages on their generation facilities could face anticompetitive behavior and economic sabotage raps because they have been violating government-enforced laws and policies, according to the Department of Energy. According to Energy Undersecretary Felix William B. Fuentebella, the department already engaged the help of the Department of Justice (DOJ), Philippine Competition Commission (PCC) an the Energy Regulatory Commission (ERC) to determine the culpability of the power companies whose facilities are on extended shutdowns –including those which preventive maintenance schedules are already going beyond committed timeframes. “The DOE asked for assistance from the ERC, PCC and DOJ for enforcement assistance and case build-up on any violation of laws and other policies by the industry players,” he said, and that shall include the department’s Circular DC2020-02-0004 which casts the Grid Operating and Maintenance Program (GOMP) or the policy guide on the scheduling of preventive maintenance of electric generating facilities.

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MINDANAO RAILWAY PROJECT

Right of way issues seen finished by Q3 By ANTONIO L. COLINA IV MindaNews

COVID TESTING DRIVE THRU. Public utility and food delivery drivers queue for Covid-19 swab tests at the drivethrough testing center of the local government at the Crocodile Park grounds in Davao City. mindanews photo

D AVA O C i t y – T h e Department of Transportation (DOTr) targets to complete the acquisition of the road right of way (RROW) for the 102-kilometer phase 1 of the Mindanao Railway Project by the third quarter of 2021. During the virtual news conference on 2020 economic performance of Davao Region on Thursday, Maria Lourdes Lim, regional director of National Economic Development AuthorityDavao, said the negotiation for the acquisition of RROW for the depot and stations sites of the Tagum CityDavao City-Digos City (TDD) segment of the railway project is ongoing with the property owners. ISSUES/PAGE 10

6 CDO, MisOr churches Rufus' bats scholarship for closed due to Covid-19 coco farmer's children in CDO

THE Catholic archdiocese of C agayan de Oro on Tuesday announced it will temporarily close six of its churches here and several towns in Misamis Oriental following the number of coronavirus disease 2019 (Covid-19) infections among its parishioners and clergy members.

In a statement, Archbishop Jose Cabantan said the closure will last for 10 days, from April 28 to May 7, to disinfect these churches. The churches temporarily closed are the Jesus Nazareno Shrine, and San Isidro parish in this city; the Lady of Candelaria parish in CHURCHES/PAGE 10

By CRIS DIAZ, Executive Editor

CAGAYAN de Oro second district Rep. Rufus Rodriguez has batted for scholarship of children of coconut farmers in the country. In a statement, Rodriguez, who is also Deputy House Speaker, said the Philippine

Coconut Authority (PCA) has a P70 billion revenue out of the coco levy fund. "Part of the P70 billion coco levy fund could finance the scholarship program for

children of cococut farmers, especially in Cagayan de Oro City," Rodriguez said. He said that he made the appeal during the hearing on Committee Mindanao Affairs with the PCA Administrator FARMERS/PAGE 10

Over 5k vacancies await job-seekers on Labor Day job fair: DoLE-10 THE Department of Labor and Employment in Region 10 (DOLE-10) said Wednesday it will host a regionwide job fair with 4,987 local and 498 overseas job vacancies in line with the 119th Labor Day celebration on May 1. DOLE-10 OIC-Director Albert E. Gutib said this is

the second-time online job fair for local placement is in collaboration with the digital portal Mynimo.com. The first collaboration was during DOLE’s 87th Anniversary job fair in December last year. “Since this will be an online job fair, applicants must prepare in digital copies

their resume or they can make one thru Mynimo’s online template,” Gutib said. Job seekers must first register and post their credentials and application cover letters at http://bitly. ws.cWcy. The applicants have the LABOR/PAGE 10

BOAT BUILDERS. It's a busy Thursday afternoon (April 29, 2021) for these pump boat makers in Mabua, Surigao City. They can finish one boat in a week. mindanews photo by roel n . catoto

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