BusinessWeek MINDANAO CREDIBLE
Volume VII, No. 038
Market Indicators
As of 6:20 pm august 30, 2016 (tuesday)
FOREX
PHISIX
US$1 = P46.34
7,794.03
X
14 cents
50.56
X
points
Briefly Aid for coco farmers BUTUAN City -- Agusan del Norte’s coconut farmers sought assistance from the Department of Agriculture’s Philippine Rural Development Project (PRDP) for the development of geonet production and marketing that would provide additional supply of geonets in the region. The Libas Farmers MultiPurpose Cooperative in Jabonga recently presented its P10 Million business proposal on Geonet Production and Marketing during the 2-day PRDP Investments for Rural Enterprises and Agricultural and Fisheries Productivity (I-REAP) Business Plan and Technical Review. “The successful geonet production of the neighboring provinces has inspired us to duplicate its business for the purpose of creating additional source of income among the farmers in the locality,” said Tomas Tener, Provincial I-PLAN Component Head.
Jica commitment JAPAN International Cooperation Agency (JICA) remains committed to supporting infrastructure projects in the Philippines. This was declared by Philippines Chief Representative Mr. Susumu Ito when he called on Foreign Affairs Secretary Perfecto R. Yasay, Jr. recently. Mr. Ito presented to Secretary Yasay an overview of JICA’s operations in the Philippines. Japan’s Official Development Assistance (ODA) to the Philippines, through JICA, spans more than six decades, with its first assistance starting in 1954. Japan is the Philippines’ biggest ODA donor and has identified important priority areas from northern to southern Philippines. Mr. Ito said that JICA remains committed to continue supporting infrastructure projects in the country. Apart from improvements in infrastructure, JICA’s development plans also integrate other key issues such as improving business environment, disaster resilience and poverty reduction. Mr. Ito also discussed JICA’s operation in agriculture projects, Typhoon Yolanda recovery and capacity building program for the Philippine Coast Guard.
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Malnutrition costs PH’s economy P328B; report www.businessweekmindanao.com
Wednesday | August 31, 2016
M
ALAYBALAY City -- The c ou ntr y i s losing at least P328 billion a year due to the impact of childhood stunting on workforce productivity and education, a report released Tuesday by Save the Children said.
FIREWORKS. Fireworks light up the sky during the traditional and yearly pyro festival at SM City Cagayan de Oro last Sunday as part of fiesta festivities. PHOTO BY MARK FRANCISCO
Stunting, considered the most prevalent form of und e r nut r it i on, has permanent effects on a child’s growth and development, the report said. The report titled “Cost of Hunger: Philippines” suggests that, in 2013, childhood stunting cost the Philippines almost 3 percent of its GDP. The economic loss consisted of: report/PAGE 11
Wage Board-Caraga orients 142 firms on wage order By PAT SAMONTE, Bureau Chief Butuan City
CABADBARAN City -- The Regional Tripartite Wages and Productivity Board (RTWPB) in Caraga has conducted an orientation on Wage Order No. 14, Productivity Toolbox and Productivity to
142 establishments last week during a Barangay Micro Business Briefing sponsored by the Department of Trade and Industry (DTI)-Agusan del Norte Provincial Office at the Cabadbaran City Hall.
The activity was aimed at informing the public especially employers about the Barangay Micro Business Enterprise (BMBE) law and its importance to MSMEs. Under the BMBE law, one of the benefits of a BMBE registrant is exemption from orients/PAGE 11
PSALM to fold up in 9 years By MYRNA VELASCO, Contributor
THE government is seriously c on s i d e r i n g t o f i n a l l y terminate the operations of the Power Sector Assets and Liabilities Management Corporation (PSALM) at the culmination of its corporate life in 2026, just more than nine years away. “We are not batting for any extension of our corporate
life,” PSALM Officer-inCharge Lourdes S. Alzona has noted, indicating further that this is also the direction that their principals at the Departments of Finance and Energy have been looking at. PSALM, which was set for corporate longevity of 25 years, was established in 2001 when the Electric Power
Industry Reform Act took effect. It was vested with the dual mandate of privatizing the assets of the National Power Corporation (NPC) and managing the power sector’s liabilities. Alzona explained that, if there would be some undisposed assets at the end of PSALM’s corporate life, “these will be turned over psalm/PAGE 11
FIESTA. A huge statue of the Virgin Mary is carried on a boat along the Cagayan de Oro River during the fluvial procession of in Cagayan de Oro City on Sunday, August 28, 2016 on the feast of St. Augustine, the city’s patron saint. MindaNews photo by FROILAN GALLARDO
BDO to further expand rural bank branches By DIGNA D. BANZON, PNA
DAVAO C i t y - - A f t e r acquiring ownership of One Network Bank (ONB), the BDO is expanding its rural bank branches to the different parts of the country. SM Investment Corp.
(SMIC) senior vice president f or Inv e s t or R e l at i on s Corazon Guidote said the acquisition of ONB expanded the regional presence of BDO particularly in its target expand/PAGE 10
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