BusinessWeek MINDANAO CREDIBLE
Volume VIII, No. 36
Market Indicators
As of 6:00 pm August 29, 2017 (Tuesday)
FOREX
PHISIX
US$1 = P51.159
7,948.39
6.4 cents
X
66.75
X
points
Briefly
Go Hotel Iligan ROBINSONS Land Corp. is set to open its budget Go Hotels branch in Iligan City by the third quarter of this year, while its boutique hotel brand Summit Hotels and Resorts continues to scout for locations in the country’s southern mainland. Go Hotels Iligan will be the builder’s third branch in Mindanao. “Mindanao has a vibrant economy and there are a lot of areas there for strong commercial developments,” said Elizabeth D. Gregorio, general manager of Summit Hotels and Resorts in a recent interview in Cebu City.
Investment pledges INVESTMENT pledges at the Philippine Economic Zone Authority (PEZA) surged by 89.43 percent to P132.66 billion in January to July 2017, from P70.03 billion in the same period in 2016. In a press conference Tuesday, PEZA Director G e neral Ch arito Plaza said these investments came from 362 projects registered with PEZA in the first seven months of the year, higher by 17.9 percent from the 308 projects it registered a year ago. Plaza noted that the increase in investments in PEZA reflected investors’ optimism in the Philippines as an investment destination, as well as its active promotion to attract foreign companies to locate in the country. Seventy percent of PEZA locators were foreign investors, mostly from Japan, the United States, and South Korea.
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DOE eyes nuclear power www.businessweekmindanao.com
Wednesday | August 30, 2017
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By MYRNA M. VELASCO, Contributor
ITH approvalin-principle a l r e a d y secured by the Department of Energy (DOE) on its proposed budget of P50 million for a feasibility study, the government may already set sail on its “nuclear renaissance” agenda or crafting the roadmap for the rebirth of the country’s nuclear power program.
“By approving the budget for NEPIO (Nuclear Energy Program Implementing Organization), we’re agreeing with DOE to do the study and then they will come back to us and talk about it whether nuclear energy has space or has a future in our system,” Senate Committee on Energy Chairman Sherwin T. Gatchalian said. nuclear/PAGE 11
FLUVIAL PARADE. Giant statues of saints are part of the attraction of the Higalaay Festival’s fluvial procession at the Cagayan de Oro River during the city’s annual festivities in honor of patron saint, St. Augustine, on Monday, August 28. photo by gerry lee gorit
Bakwits on chicken from Luzon:
‘Affront to Maranaos’ maratabat’ By CAROLYN O. ARGUILLAS MindaNews
IT’S not pork, so it is not being insensitive to Muslims but chicken from bird flu-affected Luzon that Agriculture Secretary Emmanuel Pinol wants the social welfare department to buy for distribution to Marawi evacuees has been criticized as an affront to the Maranaos’ maratabat. “I asked President Duterte if the Department of Social Welfare and Development can buy some of the chicken… baka puwedeng ipamigay sa evacuees sa Marawi
Bakwits: ‘Insulting’.
mindanews file photo
para mapakinabangan,” Piñol said in a press conference last week in the national capital. Pinol’s proposal came amid chicken/PAGE 11
Ayala breaks ground on P20-B Davao township By CARMELITO Q. FRANCISCO, Correspondent
INNOCENCE. Child evacuees being housed inside the Lanao del Sur provincial capitol complex in Marawi City enjoy a ride on a scooter on Monday, August 28, 2017, Day 98 of the Marawi siege. mindanews photo by h . marcos c . mordeno
DAVAO City— Companies behind the newest township development in the city, the Azuela Cove, hope to complete the project within the next 10 years. At the launch of the 25-hectare
mixed-use project located at what used to be the plywood plant of the Alcantara Group, Enrique B. Manuel, Jr., Ayala Land, Inc. assistant vicepresident, said the company is set invest P20 billion in the project as it takes advantage of the city emerging to become the “most lucrative market” ayala/PAGE 11
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