BusinessWeek M I N DA N A O CREDIBLE
Volume XI, No. 26
Market Indicators
AS OF 6:00 PM AUGUST 4, 2020 (TUESDAY)
FOREX US$1 = P 49.095
PHISIX 5,775.50
X X Briefly
unchanged
59.58 points
Italpinas earnings
CAGAYAN de Oro Citybased green condo developer Italpinas Development Corporation (IDC) reported a 43.9 percent jump in net income to P35.21 million in the first half of 2020 from the P24.47 million earned in the same period last year. In a statement, the firm said revenues grew 36 percent to P278 million in the first semester from P204 million in the same period last year despite the pandemic. “The key factor behind this extraordinary performance despite the Covid-19 pandemic is the sustained positive market response to IDC’s new green projects, namely Miramonti in Sto. Tomas, Batangas, and Primavera City (Phase 2) in Cagayan de Oro,” said IDC Chairman and Chief Executive Architect Romolo Nati.
Enough food supply DEPARTMENT of Trade and Industry (DTI) Secretary Ramon Lopez has advised the public against panic buying and hoarding. Lopez said there is enough supply of goods even if Metro Manila and four other provinces were placed anew under modified enhanced community quarantine (MECQ). In a text message to trade reporters Monday, Lopez said major retailers and manufacturers have reported that inventory of finished goods of almost all basic products can last for over two months.
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All trash sent back to South Korea: BOC-10 www.businessweekmindanao.com
Wednesday|August 5, 2020
T
HE last batch of garbage contained in 80 containers have been sent back to its country of origin in South Korea loaded in cargo vessel BF Mahia that left yesterday (August 4) from the Mindanao Container Terminal (MCT) port in Tagoloan, Misamis Oriental.
ALL RETURNED TO SENDER. Piles of processed garbage from South Korea confiscated last year by the Bureau of Customs inside Phividec Industrial Estate in Tagoloan, Misamis Oriental.
Bureau of Customs in Northern Mindanao (BOC10) district collector John Simon said the reshipment was witnessed by Customs
officials and personnel only. “In as much as we would like you to witness this historic event there are still restricted areas in the port
area and social distancing is strictly enforced so will be sending you pictures and videos plus a comprehensive report on our success on the war against Korean waste smuggling,” Simon said. He said the remaining 80 containers of Korean waste was supposed to be transported early this year but was put on hold due to the threat of the coronavirus disease (Covid-19). SENT/PAGE 11
Cag. de Oro’s annual 'Higalaay Festival' goes digital amid pandemic ACTIVITIES for this year's "Higalaay Festival" will be broadcast online to prevent residents from going out of their homes, in keeping with the health protocols amid the coronavirus disease 2019 (Covid-19) pandemic.
City Tourism Officer Chedilyn Aissa Dulguime said most of the festival highlights that began Monday will be streamed on social media, particularly on Facebook, where the DIGITAL/PAGE 10 UNPERTURBED. Despite the reported local transmission of Covid-19 in Brgy. 3 Balingasag, Misamis Oriental some residents are unmindful as they still go out to do their usual chores. photo by gerry lee gorit
Coco industry sees hope with trial testing of VCO vs Covid-19 By MINDANEWS
SOCIAL DISTANCING. The COVID-19 pandemic has changed the way people live as well as the warning sign at the rear of this truck that passes through Manolo Fortich town in Bukidnon. mindanews photo by h. marcos c. mordeno
D AVA O C i t y - - T h e ‘promising’ result of the virgin coconut oil (VCO) clinical trials on patients of COVID-19 may open up
more opportunities to the local coconut industry, VCO producers say. Last month, the Depar tment of S cience
and Technology (DOST) reported that the clinical trials of VCO at a hospital in Laguna as supplement for the treatment of COVID-19 yielded a ‘promising’ result. TESTING/PAGE 11
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