BusinessWeek MINDANAO THE BUSINESSMEN’S NEWSPAPER
2013 ppi’S Best in Business and Economic Reporting
Volume V, No. 74
Market Indicators As of 6:20 pm nov. 28, 2014 (friday)
FOREX
PHISIX
US$1 = P44.89
7,294.38 points
4 cents
X
29.04 points
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Briefly Biomass plant
Monday | December 1, 2014
By FROILAN GALLARDO, MindaNews
EASTERN Petroleum Corp will start construction of its maiden power project in Mindanao by January next year. Fernando L. Martinez, Eastern Petroleum chairman, told InterAksyon.com that the company is finalizing local permits before proceeding with initial site clearing for the 23.5-megawatt (MW) biomass plant in Agusan del Norte. “Site mobilization na kami January 2015 so first quarter 2017 we expect completion,” he said. The company will invest $100 million for the biomass plant, which marks its initial foray into the power generation business.
ILIGAN City – They have spoken.
T
HREE politicians who led the opposition to the botched Memorandum of Agreement on Ancestral Domain or MOA-AD have made known their stand against the proposed Bangsamoro Basic Law, which aims to conclude the on-and-off peace process between government and the Moro Islamic Liberation Front (MILF).
Bank lending OUTSTANDING loans of commercial banks, net of reverse repurchase (RRP) placements with the BSP, grew by 21.1 percent in October. In the previous month, loans grew by 20.5 percent. Bank lending inclusive of RRPs expanded by 20.0 percent in October compared to the 19.5 percent growth posted in the previous month. On a month-on-month seasonallyadjusted basis, commercial bank lending increased by 1.4 percent for loans net of RRPs and by 1.2 percent for loans inclusive of RRPs. Loans for production activities— which comprised about fourfifths of banks’ aggregate loan portfolio—expanded further by 19.7 percent in October from 18.7 percent in September. The rise in production loans was driven primarily by increased lending to the following sectors: manufacturing (20.9 percent); real estate, renting, and business services (15.9 percent); wholesale and retail trade (19.4 percent); electricity, gas and water (22.9 percent); and, financial intermediation (22.1 percent). Bank lending to other sectors also rose during the month except for public administration and defense, which declined by 1.2 percent.
P15.00
MOA-AD foes say BBL is unconstitutional www.businessweekmindanao.com
MARANAO SENTIMENTS. Driza Liningding, of the Bangsamoro Peace and Development Council, complains how the economic benefits from Lake Lanao did not trickle down to the vulnerable sector of the Maranaos during the congressional public hearing on the Bangsamoro Basic Law held at the Lanao del Sur provincial gym in Marawi City last week. mindanews photo by froilan gallardo
In a public hearing here Friday by the House ad hoc committee on the BBL, Zamboanga City Rep. Celso Lobregat and former Iligan Mayor Lawrence Cruz said the BBL contains provisions that are unconstitutional. “Like the MOAD-AD i n 2 0 0 8 , t he prop os e d Bangsamoro Law is full of unconstitionalities [sic],”
Cruz said referring to the failed agreement which the Supreme Court junked as unconstitutional in 2008. “ W h a t w i l l h ap p e n now if the Supreme Court will find again the proposed Bangsamoro as unconstitutional? Will the MILF go to war again?” he added. bbl/PAGE 7
Aboitiz to uprate capacities Power Forum: of coal-fired power plants Can power By IRENE DAYO, Staff Writer
POWER firm AboitizPower C o r p. i s u p r at i n g t h e capacities of its Davao and
Cebu coal plants which are both under construction in plants/PAGE 7
market dampen brownouts during summer? (Second of a Series) By MIKE BAÑOS, Editor-at-Large
Merchant Plants ENERGY Secretary Carlos Jericho L. Petilla said a re s t ore d I M E M w ou l d encourage Independent Power Producers (IPPs) like Peakpower to set up merchant plants if they like the way the market is behaving.
“While there will be many new plants opening soon in Mindanao, most of them are baseload plants. I’d like to encourage more peaking plants because in the end, you cannot just rely on baseload plants. There will brownouts/PAGE 7
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