BusinessWeek Mindanao (December 19, 2014)

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BusinessWeek MINDANAO THE BUSINESSMEN’S NEWSPAPER

2013 ppi’S Best in Business and Economic Reporting

Volume V, No. 82

www.businessweekmindanao.com

P15.00

Friday | December 19, 2014

Muslim region registers X Briefly highest investments ever C

Market Indicators

As of 6:10 pm dec. 18, 2014 (thursday)

FOREX

PHISIX

US$1 = P44.74

7,029.28 points

X

3 cents

63.07 points

By EDWIN O. FERNANDEZ, Philippine News Agency

New Road

THE new road opening for the Zamboanga City ByPass Road, now 62 percent complete, is among the 2014 significant accomplishments of the Department of Public Works and Highways in Western Mindanao. Linking east with the west coast through Barangay Patalon to Barangay Culianan, the road project will decongest traffic within the Zamboanga City proper providing the neighboring cities of Dipolog, Pagadian and other municipalities a direct trade route to the Zamboanga Free Port Zone. The road project received initial funding of P310 million and subsequently allotted with a total amount of P750 Million for phases 2 and 3. In a report submitted to DPWH Secretary Rogelio L. Singson, DPWH Region 9 implemented this year 1,860 current and carry-over projects valued at P 16.771 billion of which 1,412 projects were completed.

Poverty reduction THE Department of Labor and Employment-X (DOLE-X) sets the Provincial Poverty Reduction Action Team (LPRAT) meeting to the local chief executives (LCEs) from their respective local government units (LGUs) and focal persons along with the nine participating agencies that implement the Grassroots Participatory Projects (GPP) for Calendar Year (CY) 2016. In attendance were National Anti-Poverty Commission (NAPC) regional and provincial focal persons, regional project coordinator and the community organizers in northern Mindanao. The convergence will also present respective program menus for the GPP as well asgiving a venue to discuss prevailing issues and concerns per agencies.

OTABATO City -- The Regional Board of Investments (RBOI) has bared it has registered an unprecedented P3.867 billion investments in the Autonomous Region in Muslim Mindanao (ARMM).

The announcement was made after the RBOI approved Wednesday, in its board meeting, the nickelmining project of Pax Libera Mining, Inc. worth P495 million in Languyan, TawiTawi.

Lawyer Ishak Mastura, RBOI chair, said in accordance with the investment policy of the regional government, no income tax holiday or fiscal incentives were given by the RBOI to the mining company registers/PAGE 11

Tigerair launches Butuan flight By NOEL B. NAJARRO, Contributor

MEGAWORLD SUNTRUST DAVAO. Suntrust Executive Vice President/CEO Deanna Jean A. Claveria leads the ceremonial cutting of ribbon for the soft opening of Suntrust Davao office located at Claveria Street on Dec 16. With her are Jerry R. Rubis, first vice president for Marketing and Business Development Division, and Engr. Leonora P. Guutierrez, assistant vice president for Davao branch operations. photo by arjay felicilda

Tripartism: Raising one voice in northern Mindanao THIRT Y of f icers f rom different provincial Tripartite Industry Peace Councils (TIPCs) representing 15 from labor sector and 15

from management or a total of 21 companies convened recently in raising one voice for tripartism in the region. This developed after these

representatives successfully elected the Regional Tripartite Industrial Peace Council tripartism/PAGE 11

BUTUAN City -- Another airline made its historic, maiden flight at the newly renovated Bancasi Airport on Monday evening. The maiden flight of the Tigerair Philippines DG7829 Man i l a to Butu an and DG7830 Butuan to Manila etched a mark in Butuan City’s aviation history as it was also launched as the first night flight through Butuan

City’s Bancasi airport. Attending the Monday launching held at the airport’s newly expanded passenger lounge were Tigerair executives, officials and staff led by Atty. Leilani de Leon, Cebu representative Roxanne Gochuico and the Cabin crew host Ghindie Tindoy. Also present during the event were local government tigerair/PAGE 11

Davao Light taps bunker plant as hydro levels fall By CARMELITO Q. FRANCISCO, Correspondent

DAVAO City Power supplies in Mindanao have once again dipped below demand levels, forcing Aboitiz Power Corp.’s distribution arm Davao Light and Power Co. (DLPC) to activate a back-up bunkerfueled plant to head off interruptions in this city

and parts of Davao del Norte province within its franchise area. Davao Light and Power Company As of Tuesday, peak demand in Mindanao stood at 1,411 megawatts (MW) hydro/PAGE 11

CHRISTMAS TREE. A Sendong victim decorates their Christmas tree at the relocation site in Phase 1, Barangay Indahag, Cagayan de Oro City. After three years, electricity and water has finally been installed at the relocation site allowing the residents to put out Christmas trees and lanterns. mindanews photo by froilan gallardo

Editorial and advertising email : businessweekmindanao@gmail.com • Cell Number : 0917-7121424 • 0947-8935776


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