BusinessWeek Mindanao (February 7, 2014)

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BusinessWeek MINDANAO

YOUR LOCAL ONLINE BUSINESS PAPER

www.businessweekmindanao.com

Volume IV, No. 61

Market Indicators

As of 5:50 pm feb. 04, 2014 (Tuesday)

FOREX

PHISIX

US$1 = P45.31

5,886.01 points

10 cents

X

X Briefly

129.29 points

Business forum A ONE-DAY business forum dubbed “Connect and Do Business in Cagayan de Oro” will unfold on February 12 at the Intercontinental Manila in Makati City. The forum is organized by the city’s Investment Promotions Center in partnership with USAID, Promote Cagayan de Oro Foundation, and the Cagayan de Oro Chamber of Commerce (Oro Chamber). “Through this business forum, we intend to interest domestic and international investors in the identified growth areas in Cagayan de Oro, ranked by the National Competitiveness Council as the most competitive city in the Philippines today,” said Eileen E. San Juan, the main organizer of the business forum. The morning sessions of the business forum will be highlighted by the talks of Dr. Bernardo M. Villegas, the director for research and communication at the Center for Research and Communication, who will discuss “How the Rapid Growth of the Philippine Economy Impacts on Cagayan de Oro,” and of Dr. Cayetano W. Paderanga, Jr., professor at the School of Economics at the University of the Philippines, who will tackle “Region X Economic Situation and Prospects.”

Fullbright scholarship THE Department of Education Region 10 (DepEd-10) through the Philippine-American Educational Foundation (PAFF) announces the opening of 2015-2016 Fullbright Philippine Agriculture Scholarship Program (FPASP) for advanced research awards in agriculture and fisheries in the United States. According to Esmeralda Cunanan, PAFF executive director that this Agriculture Scholarship Program aims to modernize the agriculture and fisheries sectors of the Philippines by developing their human resource base through bilateral educational exchanges between the U.S. and the Philippines. Further, she said that the objective of the grant is not only to enable recipients to pursue particular fields of study research but also to develop leaders in agriculture and fisheries who can contribute to promoting better understanding between the Philippines and United States.

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Friday|February 7, 2014

Power supply still tight in Mindanao until 2015 D

ESPITE short-term measures already in place, the Department of Energy has acknowledged that Mindanao is in the thick of a power supply shortage until 2015, even as new power plants in the region will come online only by next year.

One solution that the Department of Energy has put in place was to create the Interim Mindanao Electricity Market, a sp ot market dedicated to the region. The interim market was

opened late last year and has been operating for a month now. The spot market did not sit well with consumer groups and some lawmakers as, they power/PAGE 11

CDO biz permit revenues up 33% By CRIS DIAZ Philippine News Agency

CAGAYAN de Oro City’s revenues on business permit fees reached almost P350 million at the closing day of January, the City Treasurer said on Wednesday. City Treasurer Glenn Permit/PAGE 11

South Bank marks 9th year anniversary South Bank, the Cagayan de Oro based Rural bank, will celebrate her 9th anniversary on February 8, 2014. This was learned from Mr. John O. Lugtu, Chief Operating Officer. H i g h l i g h t o f t h e observance will be Thanksgiving Mass to be officiated by Rev. Fr. Carlos G. Cenzon, S.J. at the main lobby of Rodelsa Hall, right beside the Head Office of South Bank. Formerly known as the Kagay-anon Rural Bank until it was formally acquired by the ZEALEP group in

2005. South Bank offers services such as savings, checking and time deposit facilities, commercial and agricultural loans, personal loans, microfinancing, safety deposit boxes, bills payment services, money transfers and the Student Educational Assistance Loan (SEAL) Program. The bank is in the final stages of reengineering to a new core-banking system that operates in an on-line centralized mode providing inter-branch transactions and ATM connectivity. M r. Wi l h e l m i n o R. Mendoza, serves as President of South Bank.

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