BusinessWeek Mindanao (August 31, 2020)

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BusinessWeek M I N DA N A O CREDIBLE

Volume XI, No. 37

Market Indicators FOREX

PHISIX

US$1 = P 48.630

5,921.55

X

cents

9.78

RELIABLE

X

points

Briefly Marawi road THE Department of Public Works and Highways (DPWH) has already doubled its work accomplishment for the Marawi Transcentral Road project in a span of 90 days since the relaxation of the quarantine measures. Part of the DPWH flagship infrastructure projects in support to the government’s effort to rebuild roads damaged by armed-conflict in Marawi City, the urgent rehabilitation of Marawi Transcentral Road will pave the way for improved mobility, said Secretary Mark A. Villar. Secretary Villar added that there has been significant progress for Marawi Transcentral Road Project particularly at contract package 2 under contractor Kouzbary Builders working with apparent speed to make-up for lost days of the work suspension from March to May due to the coronavirus pandemic.

Rehab funds THE government and the European Union (EU) have signed a new financing agreement worth 24.5 million euros (P1.405 billion) in the form of grants to support the rehabilitation of Marawi City and the Bangsamoro Autonomous Region in Muslim Mindanao’s (BARMM) coronavirus containment effort. The Department of Finance (DoF) said in a statement Monday that 5 million euros will help fund the recovery and rehabilitation of Marawi City, while 3 million euros will boost BARMM’s coronavirus disease 2019 (COVID-19) response. The project will be implemented by the Office of the Presidential Adviser on the Peace Process and the Bangsamoro Transition Authority over five years or 60 months after the agreement is sealed.

IN-DEPTH

Travel restrictions take toll on tourism www.businessweekmindanao.com

AS OF 6:00 PM AUGUST 27, 2020 (THURSDAY)

11

YOUR MINDANAO-WIDE BUSINESS PAPER Monday|August 31, 2020

P15.00

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By ANTONIO L. COLINA IV, MindaNews

AVAO R e g i o n’s tourism industry took a beating in the second quarter of this year, only recording 67,159 tourists or 1.2 million visitors less compared to the same period last year, due to travel restrictions meant to curtail the transmission

of coronavirus disease (C OVID-19), National Economic Development Authority (NEDA)-Davao director Maria Lourdes Lim said. Speaking during the virtual launch of Davao Regional Development Plan 2017-2022, TOLL/PAGE 10

Monkeys in Misor scavenge for food during lockdown By GERRY LEE GORIT, Reporter

ORO’S NEW VICAR. Archbishop Jose Araneta Cabantan of the Archdiocese of Cagayan de Oro reads the Gospel at the mass for his installation at the Saint Augustine Metropolitan Cathedral in Cagayan de Oro on Friday, August 28. Cabantan, who was installed on the feast of Saint Augustine, the city's patron saint, replaced Archbishop Antonio Ledesma, SJ, who stepped down after reaching the mandatory retirement age of 75. mindanews photo by froilan gallardo

Davao lowers GRDP target but expects positive growth By ANTONIO L. COLINA IV, MindaNews

DAVAO City – The gross regional domestic product (GRDP) target of Davao

Region for this year has been adjusted to 3.4 percent from the original double digit

estimate of 10.5-12.2 percent due to the coronavirus disease (COVID-19) pandemic, National Economic GROWTH/PAGE 11

THE time is up for Philhealth to close shop and replace it with a corrupt-shielded, privately-managed national health care program imbued

with dedication and sincerity to serve the Filipino people, said a U.S.-based Filipino business group. In a statement, the foreign-

based private business group is interested to run a new national health care program as replacement of Philhealth, PHILHEALTH/PAGE 10

INITAO, Misamis Oriental-Local tourists frequenting the Lasang Adventure Park here are amazed after seeing the dozens of monkeys feasting on the garbage bins in a nearby restaurant. "Among makita diha almost 22-30 mga unggoy n g a d i h a n a g t ap o k s a

basurahan," said a local residents living nearby. The Lasang Secret Adventure Park in Initao town is the focal point of t h e In it a o – L i b e r t a d protected area developed by the Misamis Oriental provincial government in 2009.

Abolish Philhealth now, says business group

ROUGE MONKEY. A monkey pickup up foods at a garbage bin inside an Adventure Park in Initao in Misamis Oriental. Residents living nearby say they saw dozens of malnourished monkey frequenting in their area at this time of pandemic. photo by gerry lee gorit

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