BusinessWeek M I N DA N A O CREDIBLE
Volume VIII, No. 77
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Market Indicators FOREX
PHISIX
US$1 = P50.321
8,144.02
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2.5
110.01
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points
Spot market THE Philippine Electricity Market Corp. (PEMC), the entity that operates the wholesale electricity spot market (WESM), has called on industry stakeholders to submit their comments on the draft circular that seeks to establish a similar market in Mindanao. “We are on test operations [in Mindanao], so PEMC is continuously looking at what’s going on and the status of the actual operations,” said Jose M. Layug, Jr., one of the members of the fiveman transition committee set up in July after PEMC officials were asked to resign. On Thursday, PEMC solicited comment until Dec. 4, 2017 on the proposed Mindanao WESM transition committee. WESM is the centralized venue for buyers and sellers to trade electricity as a commodity where its prices are based on actual use, or demand, and availability, or supply.
IN-DEPTH
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Monday | December 4, 2017
By LEN VELASCO, Contributor
ANILA-based Asian Development Bank (ADB) said it plans to increase its focus on Mindanao, particularly in the areas of regional connectivity and enhancing financing capabilities for local government units (LGUs), as it firms up the terms of its new medium-term partnership program with the Philippines.
In a re v i e w o f t h e ADB’s engagement with the Philippines, the bank said the 2017-2020 Country Partnership Strategy also focuses on aligning its programs with the Philippine Development Plan. “G i v e n M i n d a n a o’s poverty and general lack of infrastructure and regional connectivity, there is a strong
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rationale for ADB to scale up its operations there,” the bank said, while noting that such a move would sync with the government’s increased focus on the south. It said that the ADB could also establish a liaison office in Mindanao. Enhanced operations in Mindanao will aid regional integration with the Association of Southeast
Asian Nations (ASEAN), especially the Brunei D ar uss a l am - Ind one s i a Malaysia-Philippines East ASEAN Growth Area, to which Mindanao is the country’s nominated gateway. “Mindanao has great p o t e nt i a l f o r r e g i o n a l cooperation and integration with Brunei Darussalam, growth/PAGE 9
ARMM bullish on investments to rebuild Marawi
Product standards SURIGAO City – A team from the Fair Trade Enforcement Bureau (FTEB) of the Department of Trade and Industry (DTI) Manila conducted a monitoring and enforcement visit in various business establishments in the city and the towns of Placer and Claver. The team purposely monitored and looked into various products under mandatory standards sold by local business entities. Various establishments having displayed the products lacking necessary product quality marks or certifications were issued with a notice of violation and were directed to submit a written formal explanation.
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ADB bares more focus on Mindanao growth www.businessweekmindanao.com
As of 6:00 pm December 1, 2017 (friday)
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ROADSIDE TREAT. Papaya for 15 pesos a kilo (or 100 pesos for seven kilos) at a fruit stand in Tupi, South Cotabato. Solo papaya (behind the native variety) costs 10 pesos a kilo. mindanews photo by carolyn o . arguillas
Mango congress tackles productivity, increased shelf life By MARK FRANCISCO Staff Writer
MANGO growers in the country need to use pruning and fertilize to boost their productivity as demand is seen to be very high in the next few years. This was revealed by Philippine Mango Industry Foundation Inc. (PMIF) president Virginia dela Fuente mango/PAGE 9
COTABATO City -- “Now is the time to start the rehabilitation process. Though, we are deeply saddened by what happened to Marawi City which is currently in serious ruins however, we have to move forward and turn this crisis into opportunities”, RBOI chair and managing head, lawyer Ishak V. Mastura, said in a statement during a recently conducted Investments Priorities Plan (IPP) Roadshow in Cagayan de Oro City organized by the Regional Board of Investments (RBOI), Autonomous Region Muslim Mindanao (ARMM). The roadshow was focused on investment opportunities in a post Marawi siege business environment. This event is one of the ARMM regional government’s (ARG) preliminary strategies in rebuilding the city by encouraging businessmen to invest in the Province of Lanao del Sur and Marawi City. One of the priority investment areas identified for the immediate restoration of bullish/PAGE 9
Martial law extension urged to secure Marawi rehab THE head of the inter-agency group tasked to lead the rebuilding efforts in Marawi City and an Autonomous Region in Muslim Mindanao (ARMM) official on Friday said they will support the extension of martial law in Mindanao amid intelligence reports that Islamic State (IS)linked terrorists are stepping up recruitment activities in the region. In a Palace briefing,
both Housing and Urban Development Coordinating Council chairperson Eduardo del Rosario, concurrently head of Task Force Bangon Marawi (TFBM), and ARMM Assemblyman Zia Alonto Adiong said they believed that martial law in Mindanao should be extended to secure the rehabilitation efforts and to protect the civilians from the ongoing terrorist threats. extension/PAGE 9
SEA CRABS. Fishermen untangle lambay or sea crabs from their net in Barangay San Juan, Hinatuan, Surigao del Sur. They sell their catch for 150 pesos a kilo or lower if customers haggle. mindanews photo by h. marcos c. mordeno
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