BusinessWeek MINDANAO CREDIBLE
Volume VII, No. 028
Market Indicators
As of 6:20 pm august 11, 2016 (thursday)
FOREX
PHISIX
US$1 = P46.933
7,981.35
4.4
X Briefly
cents
70.05
X
points
MSMEs financing
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F
ORMER Philippine Ambassador to the United States Jose Cuisia Jr. is optimistic that the administration of President Rodrigo Duterte will improve the security situation in Mindanao which will unlock economic potentials of the region.
THE government is working to provide more financing options for the micro, small and medium enterprises (MSMEs) in a bid to make them more competitive both in the local and global markets. Department of Trade and Industry (DTI) Undersecretary Nora Terrado vowed the “full and faithful implementation” of the Magna Carta for MSMEs, specially the mandatory allocation of credit resources to target beneficiaries of the law. “While we have the Magna Carta for MSMEs which provides for a mandatory lending of banks to MSMEs, lack of financing assistance is still a major problem,” she said during the recent general membership meeting of the Philippine Exporters Confederation Inc. (PHLEXPORT).
Chinese link THE Philippine agri-food industry has signified it intends to continue strengthening trade activities with partners in China and its territories as the sector still sees strong potentials for commerce despite the controversy over the recent sea dispute ruling. Roberto C. Amores, president of the Philippine Food Processors and Exporters Organization, Inc., food trustee of the Philippine Exporters Confederation, Inc. (PHILEXPORT), and chairman of the Agriculture Committee of the Philippine Chamber of Commerce and Industry (PCCI), expressed optimism that business relations between the Philippines and China will soon get past the political bump arising from the case, considering the two countries’ long-established trade association. The Permanent Court of Arbitration in The Hague on July 12 ruled in favor of the Philippines over conflicting claims with China regarding overlapping portions of territorial waters between the two nations.
P15.00
Friday | August 12, 2016
MINING AREA EVERYDAY SCENE. This is a common scene in the mining areas during the dry months in Surigao del Norte. A giant cargo ship waits off Hinatuan Island in Taganaan town as smaller ships approach with their loads of ore. One cargo ship could carry at least 50,000 metric tons of nickel ore to be shipped out to China, Japan and other countries. mindanews photo by roel n . catoto
St. Augustine to hire small-scale miners By CARMELITO Q. FRANCISCO, Correspondent
DAVAO City -- St. Augustine Ser vices, Inc. (SASI), t he p ar t ne rsh ip b e t we e n
Nationwide Development Corp. (NADECOR) and St. Augustine Gold and Copper Ltd., said it
Cuisia, who is now the chairman of PhilippinesUS Business Council (PUBC), identified that the peace and order situation in Mindanao is the primary concern of investors in doing business in the area. He added that amidst the security concerns in the region, Mindanao holds huge untapped potentials particularly i n s e c tors of ag ro industry, energy, and tourism with its vast lands and abundant natural resources. “Nevertheless, with no less than the President,
Speaker of the House of Representatives, and Senate President all hailing from Mindanao— and all committed to attaining lasting peace with all legitimate armed groups in the region—I see no reason as to why the situation will not significantly improve in the next six years,” Cuisia said during the private sector dialogue of PUBC, Makati Business Club, and US-ASEAN Business Council in Taguig City Thursday. “Amidst s e c ur it y concerns, success in campaign/PAGE 11
is planning to take in smallscale miners in response to Environment Secretary Regina Paz L. Lopez’s order to stop miners/PAGE 11
NUJP dares Aguirre to name media groups ‘funded by drug lords’ By MINDANEWS
MALAYBALAY City — A media organization has challenged Justice Secretary Vitaliano Aguirre II to name the media
groups that are supposedly funded by influential drug lords to derail the administration’s campaign against illegal drugs.
In a statement Monday, the National Union of Journalists said Aguirre should provide evidence and file charges against these media groups if media/PAGE 11
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