BusinessWeek M I N DA N A O CREDIBLE
Volume XI, No. 33
Market Indicators FOREX 10.50
X
cents
PHISIX
X
6,005.40
36.72
RELIABLE
points
Briefly
Lower rice price THE AVERAGE farmgate price of palay, or unmilled rice, fell 1.2% week on week to 18.63 per kilogram in the fourth week of July, with the price up 4.2% year on year, according to the Philippine Statistics Authority (PSA). In its weekly update on palay, rice, and corn prices, the PSA said the average wholesale price of well-milled rice fell 0.1% to P39.34 while the retail price rose 0.1% to P42.63. The average wholesale price of regular-milled rice rose 0.1% to P35.74 while the retail price rose 0.1% to P38.51.
IN-DEPTH
Railway project hits another snag: Neda www.businessweekmindanao.com
AS OF 6:00 PM AUGUST 20, 2020 (THURSDAY)
US$1 = P 48.680
YOUR MINDANAO-WIDE BUSINESS PAPER Friday|August 21, 2020
T
HE Phase 1 of the China-funded Mindanao railway project faces another delay as the government opted to move the start of the construction to the first quarter of 2021 awaiting the result of the bidding process.
Low power demand PEAK electricity demand “drastically” declined in the first week of August after Metro Manila and adjacent provinces returned to a stricter form of lockdown, known as modified enhanced community quarantine (MECQ), due to mounting coronavirus infections. In the July billing period, the quarantine, coupled with the start of the rainy season, tempered average power demand in the Wholesale Electricity Spot Market compared to June, according to the Independent Electricity Market Operator of the Philippines (IEMOP). “Historically, mataas ang July (July is typically highdemand). But because of this continuous lockdown, medyo tempered ang demand natin (demand has been tempered),” IEMOP Chief Operating Officer Robinson P. Descanzo told reporters in a virtual briefing, Tuesday.
P15.00
ROAD BY THE SEA. Joggers enjoy the sunrise and fresh air at the coastal road in Aplaya, Matina, Davao City. The road is still being constructed. mindanews photo by gg bueno
In a statement, the National Economic and Development Authority (NEDA) Region XI said yhe Transportation department is targeting the start of construction for the Mindanao Railway ProjectTagum-Davao-Digos (MRPTDD) by the first quarter of 2021 T h e Tr a n s p o r t at i o n department said in December that the groundbreaking for the project would be in the first quarter of 2020, but it did not happen. Transportation Assistant Secretar y for Project
Implementation-Mindanao Cluster Eymard D. Eje said the department had received from the Chinese embassy the shortlist of bidders for the project monitoring consultancy package of the rail works. Eje said the department is still waiting for the shortlist of bidders for the designand-build package. The list of bidders for the build-and-design contract was expected in June. The P82.9-billion railway’s first phase, covering the RAILWAY/PAGE 6
Villages with COVID-19 cases on a “lock down” By CRIS DIAZ, Contributing Editor
TWO areas in Cagayan de Oro City’s urban villages consisting of 206 families were on a “localized locked down” starting Tuesday after health
authorities confirmed COVID-19 positive cases in the area. City health officials, on Thursday, CASES/PAGE 6
CABINET officials have recognized Northern Mindanao region's response to the coronavirus disease crisis, describing the region's "proactive" strategies to keep the cases down
as "exemplary." Peace process Secretary Carlito Galvez Jr., the government's chief implementer of the National Action LAUD/PAGE 6
IATF execs laud Cag. de Oro NorMin's Covid-19 response MORNING JOG. A dog seems to be enjoying an early morning jog with his master in Malaybalay City in this MindaNews file photo by H. Marcos C. Mordeno.
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