BusinessWeek MINDANAO 2 cents
Best in Business and Economic Reporting
Philippine Press Institute Civic Journalism Community Press Awards 2013
Volume V, No. 31
Market Indicators
As of 6:12 pm August 16, 2014 (Saturday)
FOREX
PHISIX
US$1 = P43.67
7,008.51 points
52.49 cents
X
1 cent
X
Briefly Armm posts growth MARAWI City -- The Autonomous Region in Muslim Mindanao (ARMM) has registered a remarkable economic growth of 3.6 percent in 2013 from its 2010 mark of negative 0.3 percent. According to data released by the Philippine Statistics Authority (PSA), the total value of final goods and services produced in the ARMM grew from 1.1 percent in 2012 to 3.6 percent in 2013. The growth is driven by strong performance of the region’s service sector and agriculture. Agriculture, which included hunting, fishing and forestry, accounted for 61.3 percent of ARMM’s economy followed by services with 33.6 percent and the industry sector with 5.1 percent. ARMM Governor Mujiv S. Hataman cited the improved confidence of the people in the regional government. Good governance meant that development aid that was meant for the sectors are actually reaching them and are being used for improvement and growth.
www.businessweekmindanao.com
P15.00
Govt takes drastic steps to take-over Lasureco By MYRNA VELASCO, Contributor
T
HE government has taken steps to take over the debt-ridden Lanao del Sur Electric Cooperative (LASURECO) in a bid to rehabilitate the local power distribution and ensure a sustainable electrification program for the province.
Ta k i n g t h e h e l m o f t h e rehabilitation effort, Department of the Interior and Local Government (DILG) Sec. Mar Roxas has called on various stakeholders’ support the government’s takeover of LASURECO by honoring their obligation as power consumers. LASURECO has newly installed Board of Directors who took over the management of the power cooperative to restore electricity and provide lasting solution to the power crisis in the province. The new Board of Directors of LASURECO, which is also comprised of Task Force Metering, is led by Assistant Secretary Matanog Mapandi of the Department of Energy (DOE). The two other members are Police Chief Supt. Ed Ingking representing steps/PAGE 11
KADAYAWAN FLUVIAL PARADE. Tausug dancers perform pangalay at the fluvial parade along Bangkerohan river, Davao City on August 15. The fluvial parade is one of the highlights of the 29th Kadayawan festival. mindanews photo by toto lozano
BBL final draft goes to PNoy this week
Economic enterprise STA. CRUZ, Davao del Sur -- The municipality of Sta. Cruz is in the process of finalizing its Local Economic Enterprise strategic plan which is expected to boost the existing local enterprises of the municipality. In a recent two-day workshop at the Waterfront Insular Hotel, all unit personnel of the local economic enterprise offices had presented their respective operation plans. Mayor Joel Ray Lopez said that the operation of economic enterprises is crucial to the overall economic development of Sta. Cruz as this will eventually generates more local revenue to the municipality.
Monday | August 18, 2014
By CAROLYN O. ARGUILLAS, MindaNews
DURIAN SEASON. Durian are being sold for as low as 25 pesos a kilo at Bangkerohan market, Davao City this Kadayawan season. mindanews photo by toto lozano
D AVA O C i t y — T h e government (GPH) and Moro Islamic Liberation Front (MILF) announced Friday last week after a threeday exchange of papers and conversations here between Executive Secretary Paquito Ochoa and MILF peace panel chair Mohagher Iqbal,
that they have “concluded discussions” on the “various i s s u e s” i n v o l v i n g t h e draft Bangsamoro Basic Law (BBL) and that the resolutions arrived at would be incorporated into the final draft “that will be prepared and submitted to President Benigno S. Aquino.”
“Finished na,” Presidential Adviser on the Peace Process Teresita Quintos-Deles told MindaNews. Deles said the final draft will be submitted to President Aquino “before end of [this] week” and to Congress “by end of August.” Who will prepare and submit the final draft to the bbl/PAGE 11
Investment promotion in Mindanao pushed By CARMELITO Q. FRANCISCO, Correspondent
DAVAO C I T Y - - T h e Mindanao Development Authority (MinDA) is forging ties with the Philippine Business for Social Progress (PBSP) to attract more
investors to Mindanao. MinDA Chair Luwalhati R. Antonino met this week with two of PBSP’s top officials, Vice Chair Paul G. Dominguez and Executive
Director Rafael C. Lopa, to start the discussion on the partnership. The agreement is scheduled to be signed on Sept. 8, according to Romeo M. Montenegro, MinDA investment/PAGE 11
Editorial and advertising email : businessweekmindanao@gmail.com • Cell Number : 0917-7121424 • 0947-8935776