BusinessWeek MINDANAO THE BUSINESSMEN’S NEWSPAPER
2013 ppi’S Best in Business and Economic Reporting
Volume V, No. 99
Market Indicators
As of 6:12 pm feb. 5, 2015 (thursday)
FOREX
PHISIX
US$1 = P44.14
7,674.24 points
3 cents
X
41.82
X
points
Briefly P2B investment target DIGOS City – The 2015 Annual Investment Plan of Davao del Sur province has been approved with more than P2.233 billion budget to provide support to the operations of the local government units in the province including Davao Occidental. Contained in the entire budget plan is the list of development programs and projects as well as the total resource requirements for the year, personal services, maintenance and other operating expenses and capital outlays both for the executive and legislative line offices. The breakdown includes Social Sector Services in the amount of P346,641,994.00; Economic Sector Services including Infrastructure Sector which is pegged at P1,487,410,624.00; General Public Administration Sector P291,360,535.00 and other services including the Economic Enterprise at P197,966,633.00.
Business as usual DAVAO City -- Save for the cancellation of a visiting group of South Korean tourists, tourism industry is still normal in the aftermath of the bloody Mamasapano clash. “We are not affected, if there is, it’s just minimal.” Says Department of Tourism Region- XI director Robert Alabado III. “We already know that Mindanao has a negative or shaky perception among many people but we also know that many also had a favorable perception of Davao as a peaceful place. Alabado said the office has not monitored huge cancellations of tourists following the deadly clashes in Mamasapano town in Maguidanao Province which left 44 elite policemen dead.
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Friday | February 6, 2015
Big businesses urged to adopt inclusive growth By MARK FRANCISCO Staff Writer
Organic black rice from Mindanao now being sold in US
T
HE Cagayan de Oro Chamber of Commerce and Industry (ORO Chamber) is urging its bigger counterparts that don’t belong to the small and medium enter pris es (SME) categor y but are situated in Northern Mindanao to adopt inclusive growth in their respective businesses. Ne w ly-assume d Oro Chamber president Cerael Donggay said that this is the new thrust of the association growth/PAGE 11
CdO nets P434.3M in biz tax, collection rises to P65.7M CAGAYAN de Oro City’s collections in business taxes and fees has remarkably increased by P65,725,516.58 millions after the annual business permit renewal ended last January 31, 2015. City treasurer Dr. Glenn C. Bańez reported that the city government collected P434,343,112.04 millions during the renewal period covering the whole month of January this year. He cited that the figure is 18% higher as compared tax/PAGE 11
DOWNED HUEY. A flight crew checks on a Philippine Air Force UH-1 Huey helicopter that crashed upside down as it tried to take off from the golf course of the 4th Infantry Division in Barangay Patag, Cagayan de Oro City Wednesday. mindanews photo by froilan gallado
Aboitiz coal-fired plant also on commissioning stage By LOVELY A. CARILLO, Philippine News Agency
DAVAO City -- The 300 megawatt coal-fired power plant of Therma South Inc. (TSI) located at the boundary of Binugao, Toril, Davao City and Sta. Cruz, Davao del Sur is now in the commissioning stage and has started its steam blowing operation last month. “Steam blowing is the process of cleaning the pipes of the power plant. This is part of a series of clean up procedures and
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tests to ensure the facility will operate safely, reliably and within standards by the government,” said Willy Rudolfo III, Aboitiz Power Corporation branding and communications manager. High-pressured steam is used to clear the pipes of rust and dust, just like clearing the drainage pipes of debris and clogs. Prior to the steam blowing activity, TSI has warned
the public that they will be seeing thick smoke being released from the facility. The company has distributed leaflets to the community to inform them about the on-going commissioning activity. TSI asked the public not to be alarmed since the thick white “smoke” that will be released during the operation is water droplets or steam and will not harm the environment or the health aboitiz/PAGE 11
ANOTHER Philippine organic rice variety has successfully penetrated the stringent yet lucrative US market following the delivery of one ton of the indigenous rice in November last year. The Don Bosco MultiPurpose Cooperative (Don Bosco MPC) based in M’lang, North Cotabato made the initial shipment and is now poised to send another 2 tons of its famed organic black rice to Los Angeles, California sometime in the first or second week of February. Don Bosco MPC general manager Romano Laurilla said the group’s black rice is distributed in the US under the brand Social Products and is described as “an organic line of black and red rice from the Philippines grown by small co-op farmers in Mindanao, Philippines.” Parceled in 1-pound and 5-pound packages, Don Bosco’s black rice are placed in specially-designed box in accordance with their US partner’s efforts to sell the organic cereal as a premium product. According to Laurilla, the opportunity to export organic black rice - and possibly, also red and brown rice - came after he met Justin Garrido, a social entrepreneur and cofounder of the SocialProject. PH. SocialProject.PH is a US-registered non-profit organization whose mission is to grow, develop and support social entrepreneurship as a sustainable means to poverty alleviation and nation building. “Garrido, who was a managing director of a chain of stores in the US, came to the Philippines to look for local products that could rice/PAGE 11
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