BusinessWeek MINDANAO THE BUSINESSMEN’S NEWSPAPER
2013 ppi’S Best in Business and Economic Reporting
Volume V, No. 78
Market Indicators
As of 6:10 pm dec. 9, 2014 (tuesday)
FOREX
PHISIX
US$1 = P44.53
7,183.87 points
1 cent
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MRDP awards DAVAO Oriental -- The Provincial Government of Davao Oriental bagged several awards from the Mindanao Rural Development Program (MRDP), during its culmination program held in Davao City last Wednesday, December 3, as it was recognized for its exemplary performance in the implementation of projects under the MRDP2. Davao Oriental was hailed Best Performing Provincial Local Government Unit in the entire region in terms of rural infrastructure implementation, specially citing its remarkable accomplishment in the completion of the big-ticket, P289 million Cateel Irrigation System, which is by far one of MRDP’s biggest projects. As the MRDP lauded the province’s noteworthy efforts towards this monumental accomplishment, it also hailed Davao Oriental as a model LGU that would serve as a benchmark in the whole country in terms of national and local government partnership.—with wire reports
‘Buy Caraga’ BUTUAN City – In keeping abreast with Caraga region’s status as one of the fast growing local economies in the country, the Department of Trade and Industry (DTI) Caraga in partnership with Butuan-Agusan Chamber and Philippine Chamber of Commerce and Industry (PCCI) Caraga is providing a bigger and better platform for micro, small and medium enterprises (MSMEs) in promoting their products and services through launching of a regional trade fair and exhibit dubbed “Hininang Para sa Pasko, buy Caraga by Caraga” at the Atrium, Robinsons Place Butuan, this city. The marketing event which will run from December 1215, 2014 will showcase the handicrafts, wearables and fashion accessories, fresh and processed foods, furniture and furnishings, and other products and services that the region is known for. It will also highlight the products that made prominence during the Manila FAME (Furnishings and Apparel Manufacturers’ Exchange), National Food Fair and the National Fashion Fair conducted here in the Philippines.
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Philip Morris allots $50M for MisOr farm expansion T By IRENE DAYO, Staff Writer
OBACCO giant Philip Morris Fortune Tobacco Corp. (PMFTC) Inc. has earmarked over $50 million (roughly P2.2 billion) in the next six years to expand the Virginia tobacco plantation in Claveria, Misamis Oriental.
The plantation is located in Brgy. Ane-i, Claveria, a landlocked interior municipality in the eastern
part of Misamis Oriental. “We’re starting up a whole new operation down there because it’s quite a
unique project that we got, it’s only the second place in the world where we grow tobacco twice a year,” PMFTC President Paul Riley said on the sidelines of the Bright Leaf Journalism Awards last week. In the Philippines, most tobacco plantations are located in the northern part of the country, or in the provinces of Abra, Ilocos expansion/PAGE 7
NEW POWER PLANT. Peakpower Energy, Inc. chairman Dr. Walter W. Brown looks up at the lighted mock-up of the 5MW bunker fired peaking power plant of Peakpower San Francisco Inc. for Agusan del Sur Electric Cooperative Inc. (ASELCO) at ASELCO Compound in San Isidro, San Francisco, Agusan del Sur on Monday, Dec. 8. photo by mike banos
Steel Asia opens P3-B steel plant in Davao By CARMELITO Q. FRANCISCO, Correspondent
DAVAO C i t y - - S t e e l Asia Manufacturing, Inc. has started operating its P3-billion new steel mill here, greasing the wheels of Mindanao’s thriving
construction industry. The steel plant has a capacity of half a million metric tons of reinforcing steel bars (rebars). steel/PAGE 7
STEEL ASIA Manufacturing, Inc. has three plants in Luzon, one in the Visayas, and two in Mindanao, including the new steel mill it opened in Davao last week.
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