BusinessWeek Mindanao (February 24, 2014)

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BusinessWeek MINDANAO

YOUR LOCAL ONLINE BUSINESS PAPER

www.businessweekmindanao.com

Volume IV, No. 68

Market Indicators As of 5:57 pm feb. 21, 2014 (Friday)

FOREX

PHISIX

US$1 = P44.56

6,308.36 points

22 cents

X

X Briefly 44.40 points

Energy forum STUDENT leaders from various colleges and universities in Cagayan de Oro City gathered recently at the Mindanao University of Science and Technology (MUST) gymnasium to attend the 2014 Mindanao Energy Conservation Forum. The activity is the 2nd leg in a series of fora across major cities in Mindanao organized by the Mindanao Development Authority (MinDA), the Department of Energy (DOE), the Junior Chamber International (JCI), with the support of energyfirm STEAG State Power Inc. (SPI). The activity aims to heighten public awareness on the need to conserve energy use in the light of the volatile electricity supply in the island. During the forum, Steag communications officer Jerome Soldevilla underscored the imperatives of developing a mindset of energy conservation as he calls on power consumers to be more efficient in the use of electric power.

Pedestrianization DAVAO City -- Celebrated tour expert and cultural activist Carlos Celdran is pushing for pedestrianization around downtown Davao. “I really think Davao is ready for a pedestrian culture.” Celdran said. Known for his elaborate walking tours around the walled city around Intramuros in Manila City, Celdran said that Davao has the basics to start a walking culture. He cited clean and peaceful streets, a vibrant downtown area and the presence of public parks. “Davao City is one of the cleanest cities in the Philippines which I’ve been to.” Celdran said of his main observation after a two-day walking tour around downtown Davao entitled “Carlos Celdran does Davao.”

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RE firm plans biomass facility in Cag. de Oro C

By MYRNA VELASCO, Contributor

ONVERSION of wastes into useful energy has been gaining allure in the field of renewable energy developments.

PLANTING RICE. A farmer whips a bundle of rice seedlings to remove the mud and prepare it for planting as thick fog blurs the fields behind him in barangay Lemon, Butuan City. mindanews photo by erwin mascarinas

BIMP-EAGA wants full private sector role in sub-regional trade By JOEY SEM G. DALUMPINES Contributor

DAVAO City -- An official of the Mindanao Development Authority revealed countries under the Brunei Darussalam, Indonesia, Malaysia, Philippines-East ASEAN Growth Area want greater participation of the private sector in the subregional trade group. R ome o Monteneg ro, Director III of the Investment Promotion and Public Affairs

of the MINDA said based on the BIMP-EAGA Strategic Planning Meeting held February 11 in Davao City, member countries welcome the iMindanao Development Authority’s involvement of the private sector to increase the trade. He recalled that in the previous years, it was the government that laid down the trade/PAGE 11

The latest company to announce its planned wasteto-energy facility is local firm Emerging Power Inc. (EPI) for a venture it has been targeting in Cagayan de Oro. The company announced that it has already “taken initial steps to launch a project that will convert the Cagayan de Oro sanitary landfill into a source of renewable energy.” The planned investment was outlined in a memorandum of understanding (MOU) which initially calls for the conduct

of a feasibility study on the proposed facility. Project sponsor EPI said it inked the pact with the city government of Cagayan de Oro and Waste Recovery B oras (WRB), a tie-up between the Boras City of Sweden, its Boras Energy and Environment and the WRB Technical Research Institute of Sweden and the University of Boras. The agreement provides that EPI will be given the right to develop “a full solid waste management plan that will biomass/PAGE 11

Davao City hotel spending P200-M for renovation By CARMELITO Q. FRANCISCO, Correspondent

DAVAO City -- Gaisanoowned Grand Regal Hotel

Davao is spending about P200 million to renovate and

Casino is a key source of revenue for Grand Regal Hotel Davao.

upgrade facilities in a bid to keep up with new hotels in the city, a company official said in a recent interview here. Ilde V. Bontia, Jr., Grand Regal general manager, said the 15-year-old hotel needs to be aggressive to compete with the new ones, including low-cost lodging facilities in key locations within the central business district. Mr. Bontia said the hotel management wants to make the hotel true to its name. “We want to make it grander,” he said, explaining that the effort includes improving quality of services, partly by upgrading the skills of its employees. “There are many new bed and breakfast hotels now that are priced lower than most of the older hotels,” Mr. Bontia said. “ These are the ones that made the competition cutthroat.” hotel/PAGE 11

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