BusinessWeek MINDANAO CREDIBLE
Volume VII, No. 087
Market Indicators
As of 6:21 pm December 16, 2016 (friday)
FOREX
PHISIX
US$1 = P49.902
6,850.71
2.0
X Briefly
cents
4.60
X
points
Davao’s wage hike DAVAO City -- The new wage hike order for Davao Region- Wage Order No. RBXI-19 has taken effect Friday (December 16, 2016). In a statement released by the Regional Tripartite Wages and Productivity Board-XI (RTWPB-XI) said the Wage Hike covers minimum wage rates in the region. Non-Agriculture/ industrial/commercial and retail service employing more than 10 workers P340.00 (P335.00 + P5.00 Cost of Living Allowance or COLA). Agriculture sector, P335.00 (P330.00 +P5.00 COLA). Retail service employing not more than 10 workers P315.00 (P310.00 +P5.00 COLA). No exemption from compliance under this Wage Order shall be allowed. However in case of calamity, the RTWPB-XI may accept applications for exemptions for establishments affected by calamities such as natural and man-made disasters
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Monday | December 19, 2016
DOE seeks ‘caveat’ in climate change ratification pledge T
By MYRNA M. VELASCO, Contributor
HE Department of Energy (DOE) has specifically raised its concern of instituting a “caveat” or proviso on non-impediment of energy projects and investments in the country’s bid to ratify the Paris-sealed climate change agreement.
MEGADIKE. Workers at the construction site of the megadike project at the back of the City Hall in Cagayan de Oro City. The dike was built to avoid a repeat of the damage wrought by Typhoon “Sendong” five years ago. MindaNews photo by Froilan Gallardo
Duterte to Singapore:
PH is open for business PRESIDENT Rodrigo Duterte wooed a group of business leaders in Singapore by discussing the many developments and reforms in the Philippines especially in the key growth sectors: energy and infrastructure. “The Philippines is open for business and we welcome what you have to offer,” the President told them at the
Energy Secretary Alfonso G. Cusi said he defended his department’s position in Malacañang last week, stressing that he “cannot concur with the ratification unless the issue of the DOE on energy development is not hampered.” The energy chief added “I made it very clear also that the country needs adaptation – mitigation, yes we need
that, but that should not be a precondition for developed countries to help us.” For Cusi, the country’s commitment under the 21st Conference of the Parties (COP) of the United Nations Framework on Climate Change Convention (UNFCCC) has to be recast so it sets more tangible priorities on a national interest rather than the
Philippines just adhering to it as a global treaty. Adaptation, as defined by the United Nations, could involve changing infrastructure systems and practices so the whole world could pare the risks posed by climactic changes. “ M a y b e D O E ’s concurrence is not necessary for the ratification – we just want a caveat that DOE can continue with its energy development and that we should not be limited with t h at c ar b on e m i s s i ons reduction that was signified in the Paris agreement,” Cusi stressed. The Paris climate change diplomacy pact is a pledgecaveat/PAGE 11
Jurong Ballroom of the Shangri-la Hotel in Singapore on Friday, Dec. 17. This would mean more investments and encouraging competition, putting an end to protectionism in industries t h at are m on op ol i z e d . “More competition would only mean better services and affordability of quality open/PAGE 11
Solar investment THE Alcantara power group will start with its solar investments on a take-off pitch of 20 megawatts due for implementation next year. As divulged by Antonio Miguel B. Alcantara, corporate planning officer of the Power Business Unit of Alsons Consolidated Resources, Inc., that preliminary venture would be up for expansion by another 20 megawatts. He said the first 20MW phase will require capital outlay of $30 million, based on the company’s estimates. “Solar will be the focus next year…we are still getting PPA (power purchase agreement) with local cooperatives,” he said.
BACKHOE AND SPERM WHALE. A backhoe is used to drag to shore this 37-foot sperm whale that washed up along the coast of Babak in the Island Garden City of Samal on Friday night, Dec. 16, but died Saturday morning. Photo courtesy of DEAN I. ORTIZ
5 years after ‘Sendong’:
P11-b CDO megadike Free tuition for students of SUCs under 2017 nat’l budget project not ready yet DUTERTE: Invest in PHL.
By MINDANEWS
MAL AYBAL AY City — Students who will enroll in any state college or university, including the University of the Philippines, will no longer pay for tuition fee starting
next school year as it will now be funded under the 2017 national budget. In a press release, Senator Loren Legarda, chair of free/PAGE 11
By FROILAN GALLARDO, MindaNews
THE P11-billion peso “mega dike” project which was designed to save thousands of lives along the banks of Cagayan de Oro River may
not be ready the next time a powerful typhoon much worse than “Sendong” strikes the city, officials said. Vinah Jeanne Maghinay,
spokesperson of the Department of Public Works and Highways (DPWH) Region 10, said segments of the dike that would have been financed by Japan megadike/PAGE 11
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