BusinessWeek Mindanao (August 16-18, 2013)

Page 1

Volume IV, No. 9

www.businessweekmindanao.com

BusinessWeek MINDANAO

YOUR LOCAL ONLINE BUSINESS PAPER

www.businessweekmindanao.com

Market Indicators

As of 5:56 pm AUG. 15, 2013 (Thursday)

FOREX

PHISIX

US$1 = P43.79

6,580.71 points

2 cents

X

75.90 points

X

Briefly ‘Ninoy Day’ THE policy of “no work, no pay” will apply to the special non-working holiday pay for daily-paid workers on August 21 dubbed Ninoy Aquino Day. This is pursuant to Labor Advisory No. 06, s. of 2012, which was issued by Secretary Rosalinda Dimapiles-Baldoz of the Department of Labor and Employment (DOLE), concerning the computation of the worker’s pay during special non-working days in 2013. The said advisory specifies that if the employee did not work on that day, the “No work, No pay’” principle shall apply, unless there is a favorable company policy, practice or collective bargaining agreement (CBA) granting payment on a special day.

Oil depot COTABATO City -- A Malaysian oil firm has expressed intent to establish an oil depot in the coastline of Parang, Maguindanao, the Autonomous Region in Muslim Mindanao– Regional Board of Investments (ARMM-RBOI) revealed. Larry Santos, ARMMRBOI senior investments specialist, said a feasibility study is underway for the setting up of the Iron Blaze Petroleum Company depot facility in a strategic section of Polloc Port, the region’s premier seaport, situated in Barangay Landasan, Parang town. “Everything is in the pipeline,” Santos said. He noted that the ARMM and Malaysian oil firm have agreed to a 60/40 revenue scheme in favor of the regional government.

P15.00

August 16-18, 2013

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Govt to push M’danao as gateway for Asean

D

IFFERENT government offices have supported the vision of making Mindanao an economic gateway of ASEAN community through allocating funds for the integration of infrastructures in Mindanao.

Mindanao Development Authority (MinDa) is pushing for regional growth corridors called Mindanao Innovation and Grow t h C or r i dors Development Program that will drive economic activities in the region as it will become a trade gateway for ASEAN members. “Growth Corridors can spur economic activities in gateway/PAGE 10

LandBank, Smart launch livelihood partnership for 4Ps By BUTCH D. ENERIO Correspondent

KUMBIRA 2013. Tourism Secretary Ramon R. Jimenez Jr. and City Mayor Oscar Moreno lead the opening rites of Kumbira 2013, a culinary event that highlights local foods and beverages, held at the Limketkai Atrium on Wednesday. Now in its 17th year, Kumbira 2013 has been a major event of Kagayan-an Festival. Also gracing the opening program are DOT-10 director Catalino Chan lll and Cohara president Nelia Lee (read related story on page 8). photo by cagayan de oro cito info network

power outlook

Power supply gets better as Steag completes repair By IRENE DOMINGO, Reporter

THE Mindanao grid gets back the 105-megawatt supply from Steag State Power, Inc. after the completion of the coal-fired power plant’s maintenance works on one of its two units. In a statement yesterday, Steag said it started connecting the 105MW of Unit 1 of its 210-MW plant at 2:00 p.m. Wednesday, or 34 hours ahead of schedule. Steag Power shut down Unit 1 last July 27 for a scheduled preventive maintenance. Resumption of Unit 1’s operations halved Mindanao’s

power supply deficiency to 75 megawatts, according to the National Grid Corp of the Philippines (NGCP). However, maintenance work on Unit 2, which went offline last July 29, continues due to “some technical problems,” Steag Power plant manager Carsten Evers said, adding that repairs were “on track and on schedule.” He said repairs on Unit 2 would be completed by September 15. “[P]arallel maintenance works for Unit 2 are now being carried out side by steag/PAGE 10

BusinessDaily CREDIBLE

RELIABLE

Steag State Power, Inc. brings back 105MW of coal power to the Mindanao grid as it completes repair of generating unit at least 34 hours ahead of schedule.

THE Land Bank of the Philippines (Landbank) and Smart e-Money, Inc. (SEMI), a wholly-owned mobile financial services subsidiary of Smart Communications, Inc. (Smart), have jointly launched on Wednesday a pioneering partnership that will benefit over four million Pantawid Pamilyang Pilipino Program (4Ps) beneficiaries and more than five million small farmers and fisher folk in the agricultural sector. The partnership is for a mobile-based incentivized credit, voluntary savings, insurance and livelihood program. Dubbed Panalo SIKAP (Sa Ipon at Kabuhayan Aahon ka Pinoy, which roughly translates to “through credit and livelihood, Filipinos will grow”), the program is the largest public-private partnership for inclusive growth, financial inclusion and financial literacy in the mobile arena and a world’sfirst out of the over 40 conditional cash transfer deployments worldwide. Supporting the program are : t he Un ite d St ate s Agency for International Development (USAID); t he B ang ko S ent ral ng Pilipinas (BSP); the PLDTSmart Foundation (PSF); the Department of Social Welfare and Development (DSWD); and the Department launch/PAGE 10

IN-DEPTH

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