BusinessWeek MINDANAO CREDIBLE
Volume VIII, No. 28
Market Indicators
As of 5:00 pm August 10, 2017 (thursday)
FOREX
PHISIX
US$1 = P50.79
7,985.83
X
22 cents
0.68
X
points
Briefly Declining mango MANGO growers in Mindanao still see hope to recover from the declining industry with the government’s commitment to provide needed support to farmers. Department of Agriculture (DA) Secretary Emmanuel Piñol even expressed optimism to the revitalization of the country’s declining mango production through technology application, financing, and marketing. He noted that the production of the Philippine mango has plummeted from over 1.5-million metric tons in previous years to only a little over 800,000-metric tons last year.
Cacao congress As the country needs to upgrade its cacao industry to be able to compete in the global market, the Philippines will be hosting another international cacao congress in Davao City in December. Philippine Cacao Industry Council chairperson Valente Turtur said they will be inviting more traders from other countries as the local industry needs current updates and inputs from these foreign players on how to enhance the production and move up to the international market. Turtur made the statement on Wednesday as they wrapped up the National Cacao Congress at the Grand Convention Center here. “We need to be in the global competition, that’s why we need more inputs from global players,” Turtur said. “We need to penetrate the international market.”
YOUR Mindanao-wide BUSINESS paper
RELIABLE
IN-DEPTH
P15.00
DOF targets P30-B bond float for Marawi rehab www.businessweekmindanao.com
Friday | August 11, 2017
F
I NA N C E S e c r e t a r y C a r l o s Dominguez III has directed the Bureau of Treasury (BTr) to study the possible issuance of P30 billion-worth of debt securities to fund the planned massive rehabilitation and reconstruction effort for Marawi City.
DE-HUSKING COCONUT. A farmer manually de-husks harvested coconuts at a farm in Amparo, Butuan City. Coconut production plays an important role in the national economy of the Philippines. According to figures by the Food and Agriculture Organization of the United Nations, it is the world’s largest producer of coconuts. photo by jun ayensa
Dominguez said the “Marawi” bonds would appeal to the “patriotic” sense of duty of citizens, who would like to help rebuild the lives of their fellow Filipinos in Marawi. “These are what you would call ‘patriotic’ bonds to help augment the funds that the government has set aside for Marawi’s rehabilitation,” Dominguez said at a recent DOF executive committee (Execom) meeting.
Dominguez asked National Treasurer Rosalia de Leon at the Execom meeting to study the tenor or length of maturity of the bond, which could possibly be for 20 years. In a separate statement, D e p ar t me nt of Bu d ge t and Management (DBM) Secretary Benjamin Diokno said the government would release at least P15 billion to rehabilitate Marawi in rehab/PAGE 11
Online real estate marketplace offers help to Davao brokers By ANTONIO L. COLINA IV, MindaNews
D AVA O C i t y – T h e Philippines’s largest real estate online marketplace, Lamudi, has offered help to Davao City-based licensed brokers by gearing them up for digitization and promote
the promising real estate industry here. Lamudi Group managing director Bhavna Suresh Chathambeth told reporters Wednesday that she believes the online marketplace can
provide the licensed brokers another way of reaching out to their target market in a more convenient manner. “We constantly educate our brokers and partners by sending them information about how to get more queries help/PAGE 11
DISPLACED. A woman looks distress outside the evacuation center after fleeing home in the hinterland village of Opol, Misamis Oriental where there were reported sightings of New People’s Army. photo by gerry lee gorit
Mining firm fixes damaged irrigation dikes helping farmers plant rice again By CHRIS V. PANGANIBAN, Contributing Editor
WATER SYSTEM REHAB. The rehabilitation of irrigation system used by 28 farmers belonging to Bayugan 3 Momong Unit Farmers Association (BAMUFA) will let them productive produce rice again.
ROSARIO, Agusan del Sur -- Some 20 small rice farmers in the village of Bayugan 3 are expected to improve their production in the coming harvest season after a mining company repaired the damaged irrigation system that connected their rice fields. Atty. Raul Villanueva, President of Philsaga Mining
Corp. (PMC), saw for himself the hardships of the members of Bayugan 3 Momong Unit Farmers Association (BAMUFA) because the existing irrigation canal, dredges and dikes had already breached causing the water to overflow the road that he sent construction equipment and workers to rehabilitate it.
Because of the damaged agricultural infrastructure, BAMUFA farmers have been deprived of planting their rice in the past harvest season while children no longer attend classes at school since the road became impassable. There were 28 households affected by the swamping of the overflowing water from the damaged irrigation system. dikes/PAGE 11
Editorial and advertising email : businessweekmindanao@gmail.com • Cell Number : 0917-7121424 • 0947-8935776