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Volume V, No. 28
Market Indicators
As of 6:23 pm August 8, 2014 (Friday)
FOREX
PHISIX
US$1 = P44.13
6,880.34 points
X
74.87 cents
X
5 cents
Briefly Lasureco takeover A NEWLY-FORMED formed task force sacked the “defiant” general manager of the Lanao del Sur Electric Cooperative (Lasureco), and took over the firm’s management Thursday following President Aquino’s order to end finally the 15-month blackout in the energy-yielding Maranao province. In separate national television news yesterday morning, Secretaries Mar Roxas (Interior and Local Government), Voltaire Gazmin (Defense), and Jericho Petilla (Energy) confirmed the takeover of the Lasureco operation after their visit here Thursday. The “relieving” news sent hundreds of Maranao residents across Lanao del Sur and nearby regions into jubilation, with some households seen slaughtering goats and livestock for thanksgiving. “Our prayers were finally answered. Hail the President and his task force,” Bapa Pendiaman, an elderly farmer in Ganassi, Lanao del Sur, told the Manila Bulletin over a phone in vernacular. (A. Macabalang)
www.businessweekmindanao.com
Mindanao business group says:
P15.00
To stir growth, more power plants needed
T
By GRACE BEBER, Staff Writer
HE business sector in Mindanao is clamoring for more generating plants to sustain the island’s growing economy.
Despite a bevy of coal plants set to be completed in the next three years, the region still needs a d d it i on a l i nve st me nt s in power generation, said Rey D. Billena, Philippine Chamber of Commerce and Industry (PCCI) regional governor for Southwestern Mindanao. “We know that is not yet enough to drive faster progress in industries in Mindanao. You’re driving investors [to] Mindanao, the 5 percent is not a realistic assumption. Putting up just 1 mall in Mindanao, the consumption of that
mall is already 4 megawatts (MW),” Billena said. The 5 percent refers to the Department of Energy’s (D OE) energ y demand growth forecast for the region. The government’s selfimposed deadline to end Mindanao’s power crisis is nearing its term and the lack of supply continues to slowdown growth in some regions on the island. Among the coal plants that will be put up in Mindanao are Aboitiz Power Corp’s 300-MW and San Miguel Corp’s 1,200-MW projects in Davao del Sur; and FDC plants/PAGE 7
FASHION. A model walks the ramp wearing clothes made by a local designer at Lim Ket Kai Mall during the Mindanao Fashion Summit, Friday, August 8. The show is one of the key events of the month-long Cagayan de Oro fiesta celebration. mindanews photo by froilan gallardo
Bukidnon lumad leaders, DENR sign MOA on foreign-funded project By WALTER I. BALANE, MindaNews
MALAYBALAY City — L e a d e rs of i nd i ge nous peoples in Bukidnon signed a memorandum
Garbage disposal THE Cagayan de Oro City Council committee on tourism is slated to look into proper ways of garbage disposal as the city fiesta celebration is approaching. Councilor Lourdes Candy R. Darimbang, chair of the committee, said it is necessary to maintain clean surroundings and ensure proper waste disposal. “Gikinahanglan nga adunay kalimpyo sa syudad kay usa kini sa makadani sa dumuduong ug sa mga bisita labi na kay nagsingabot na ang pangilin ni Sr. San Agustin,” she said. Darimbang added that the cleanliness of the surroundings is necessary and important in order to prevent the public from any disease and to free the city from dengue.
Monday | August 11, 2014
of ag re ement wit h t he Department of Environment and Natural Resources for a foreign-funded watershed
management project to ensure protection of their customs and traditions and to express their cooperation. Datu Migketay Victorino project/PAGE 7
Two cities, 4 towns in Mindanao among top 10 in competitiveness GATHERING FIREWOOD. A farmer and his family collect dry midribs of coconut fronds in the mountains of in Kauswagan, Lanao del Norte to sell as firewood in the town center. Roberto collected six bundles of 15 fronds each that net him P25. mindanews photo by aubrey rocin llamas
By BONG S SARMIENTO, MindaNews
TWO key cities and four municipalities in Mindanao landed in the Top 10 most competitive list in the Philippines this year. The cities of Cagayan de Oro and Davao ranked second and fourth, respectively, in overall competitiveness for the city category. For the Top 10 “Most Competitive Municipalities”, Nabunturan in Compostella Valley, Isulan in Sultan Kudarat, Polomolok in
South Cotabato and Manolo Fortich in Bukidnon placed fifth, seventh, eighth and ninth, respectively. Results of the Cities and Municipalities C ompetitiveness Index (CMCI) 2014 were officially released on Thursday. The index is an annual r an k i ng of Ph i l ippi ne cities and municipalities developed by the National Competitiveness Council (NCC), through the top/PAGE 6
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