BusinessWeek MINDANAO CREDIBLE
Volume VII, No. 030
Market Indicators
As of 6:21 pm august 16, 2016 (tuesday)
FOREX
PHISIX
US$1 = P46.312
7,983.38
X Briefly
22.3
23.21
cents
points
X
Eco devt summit DAVAO City -- The Office of the President will host the two-day Social and Economic Development Summit on August 17 and 18 at the SMX Davao Convention Center aimed at crafting the social development plan of the six-year administration of President Rodrigo Duterte. Deputy Cabinet Secretary Peter Laviña said the summit will be attended by representatives from 14 sectors identified in the law creating the National AntiPoverty Commission (NPAC); the youth sector, senior citizens, fisherfolk, persons with disabilities, Indigenous Peoples, victims of disasters, farmers, among others. Laviña said that among the 14 sectors, the fisherfolk is considered most marginalized, having witnessed how they tried to earn a living and sending their children to school; the IPs who are victims of the crossfire in armed conflicts and militarization; and, those in the formal sector who are vulnerable to displacement and involvement in crimes.
Safe haven THE Philippines is a “rare safe haven” for investors, Finance Secretary Carlos G. Dominguez III said, adding that Mindanao, as the focus of the new government’s economic strategy, will be particularly attractive for businesses. The Finance chief said strong macroeconomic fundamentals and steady growth are assured during President Rodrigo R. Duterte’s six years in office as he called for more investment in the Philippines. “This is the best time to do business in our country. Interest rates are low. The growth trajectory is nearly certain. Government policies are most supportive. Investments in infra and property will create demand for jobs and, down the line, more robust consumer demand,” Mr. Dominguez said in a speech at a banking event in Davao City, his and the President’s hometown.
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Railway system seen to hasten M’nao devt www.businessweekmindanao.com
By MARK FRANCISCO Staff Writer
Four nabbed for illegal sale of petroleum products
S
ENATE President Aquilino “Koko” Pimentel III has stressed the need for a Mindanao Railways Corporation (MRC) to hasten the development of the entire island. In filing Senate Bill 112 to create the MRC, Pimentel said the collective experience of Japan, Canada, the United States and most of Europe shows how railroad networks have spurred and sped up the national development. “In these nations, railroads opened up vast land areas for human settlement and made it possible to transport tremendous number of people and huge volume of goods at the lowest cost,” Pimentel said. He said the influx of people into areas previously unsettled, the easy mobility of the populace, and the availability of goods and railway/PAGE 15
P15.00
Tue-Wed | August 16-17, 2016
IMPORTED VEGGIES. A huge red cabbage, onion leak and green bell pepper imported from Thailand are being sold in various supermarkets in the city. photo by gerry lee gorit
DTI launches shared service facility By MIKE BAÑOS, Editor-at-Large
A SHARED service facility that will help people transform their ideas into reality is set to be
FOUR people suspected of selling petroleum products illegally were arrested and 304 liters of petroleum worth P12,000 were seized from them, as authorities began to round up the illegally sold fuel in Bukidnon province, a police report said Tuesday. Police arrested Tinoy Buyco, Niño Alsonado, Vi r g i n i a D o m i n g a n d Diosdado Payao, all of San Fernando town in Bukidnon, and confiscated 20 gallons of p et roleum pro duc ts from each of them, police investigator Nestor K. Aniñon said. The four were brought to the municipal police petroleum/PAGE 15
launched today, August 27, at the Mindanao State UniversityIligan Institute of Technology (MSU-IIT) in Iligan City. service/PAGE 15
‘GREEN’ GROUP WARNS ‘CARBON MAJORS’:
‘Ignore CHR’s summons; face int’l backlash’ By BONG D. FABE, Contributing Editor
(Last of Three Parts) Businesses’ Responsibility THE Philippines is among nations most vulnerable to the impacts of climate change. In November 2013, it was hit by
Typhoon Haiyan, one of the world’s most powerful storms, which killed thousands and left more than a million homeless in the Visayas region, particularly
in Tacloban City and other parts of Leyte island. The Intergovernmental Panel on Climate Change (IPCC), in its 5th Assessment Report, unequivocally said that climate change is real and is primarily warns/PAGE 13
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