BusinessWeek MINDANAO
2013 ppi’S Best in Business and Economic Reporting
YOUR Mindanao-wide BUSINESS paper
Volume VI, No. 098
Market Indicators
As of 6:01 pm February 11, 2016 (thursday)
FOREX
PHISIX
US$1 = P47.431
6,663.43
X X Briefly
10.7
25.95
cents
points
Minimum wage BUTUAN City -- The Regional Tripartite Wages and Productivity Board (RTWPB) Caraga is set to conduct public consultations on minimum wage adjustment for private sector and domestic workers in the city and Surigao del Norte this month as part of a regionwide series of consultations to discuss increase in wages. According to Earl Dela Victoria, Board Secretary VI of RTWPB Caraga, it is their office’ own initiative (motu propio) to conduct said activity. “The public consultation will determine whether or not issuance of new wage order in Caraga region is deemed necessary at this present time,” he remarked. “The issue at hand involves public interest as the resolution of the same will affect not only the economic direction of our region, the growth of our investor, but also the welfare of our workers in the private sector,” he emphasized.
Fake dollars GOVERNMENT agents collared an alleged member of a clandestine group engaged in the sale of counterfeit US dollar bills and bank notes worth P20 million in Cagayan de Oro City. The National Bureau of Investigation (NBI) on Thursday said that the suspect fell in an entrapment laid by government agents who posed to buy USD5,000 for only P1,000. Angelito Magno, the NBI head in Northern Mindanao, identified the suspect as Pedrito Tabalon, of Balongis in the village of Balulang.
2014 ppi’S Best in ENVIRONMENTAL Reporting
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PSALM seeks approval on Steag privatization www.businessweekmindanao.com
Friday | February 12, 2016
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By MYRNA VELASCO, Contributor
TATE-RUN Power Sector Assets and Liabilities Management Corporation (PSALM) will be seeking the go-signal of its board for a firmed up privatization schedule for the supply contract of the 210-megawatt Steag State Power, Inc. coalfired power plant in Villanueva, Misamis Oriental.
“PSALM will seek the approval of its Board for the privatization of Mindanao coal in the second semester of 2016,” company officerin-charge Lourdes S. Alzona told reporters.
She said this has been anchored on the fact that the Department of Energy (DOE) did not pose any objection to their proposed schedule. Alzona qualified that the psalm/PAGE 7
SAFER BRIDGE. A Moro resident of Barangay Tukanalipao crosses a safer and wider bridge in Mamasapano, Maguindanao province. The bridge was constructed after the deadly encounter between members of the Moro Islamic Liberation Front and PNP Special Action Force a year ago. mindanews photo by toto lozano
Lower House approves transfer of ownership of Lumbia airport to LGU By CRIS DIAZ, Contributing Editor
THE House of Representatives has approved a bill transferring the ownership of the Lumbia airport here to the city government, a lawmaker said Wednesday. Rep. Rufus Rodriguez of
Cagayan De Oro said that the House of Representative Committee on Transportation approved HB 6388 last February 3. HB 6388 is also known as “An Act Transferring
t h e O w n e r s h ip of t h e Lumbia Airport Property in Barangay Lumbia, Cagayan De Oro City from the Civil Aviation Authority of the Philippines (CAAP) to the city government of Cagayan De Oro.” transfer/PAGE 7
STEAG’S PRIVATIZATION. The delayed privatization of Misamis Oriental’s Steag’s coal plant will be firmed up as soon as the board of state-run Power Sector Assets and Liabilities Management Corporation (PSALM) gives its go-signal. photo courtesy of kagay-an.com
BSP warns public versus Investment Bank DTI MisOcc recognizes tripartite Global THE Bangko Sentral ng w w w.g ib an k.net), GIB/
collaboration as key to success By MIKE BAÑOS, Editor-at-Large
THE Department of Trade and Industry in Misamis Occidental attained key
milestones in 2015 thanks to the cooperation and support of its partners in
local government and the private sector. At the sidelines of the annual media briefing for dti/PAGE 7
P i l ipi n a s ( B SP ) w a r n s t he publ i c ag ai nst t he u n au t h o r i z e d b a n k i n g activities of Global Investment Bank or GIB Philippines Bank Limited (GIB or GPBL). In its website (http://
GPBL misrepresents itself to the public as a licensed bank in the Philippines authorized to carr y out banking transactions for international activities. bsp/PAGE 6
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