BusinessWeek Mindanao (January 9-11, 2020)

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BusinessWeek M I N DA N A O CREDIBLE

Volume X, No. 87

Market Indicators AS OF 6:00 PM JAN. 9, 2020 (THURSDAY)

FOREX

PHISIX

US$1 = P 50.756

7,736.24

X X Briefly

0.40

104.46

cents

points

Repatriation

DAVAO City -- The Mindanao Development Authority (MinDA) said it has drawn up livelihood programs for Overseas Filipino Workers (OFWs) who may have to come home in the country following the looming conflict between Iran and the United States. In a Facebook post on Wednesday, Secretary Emmanuel Piñol said the program includes cattle, hog, and poultry raising; sorghum, mango, and organic rice production; and agarwood propagation. Piñol said he already met MinDA personnel on Monday to discuss preparations for the huge numbers of OFWs who may have to be repatriated by the Philippine Government.

C. Mindanao airport MLANG, North Cotabato – President Rodrigo R. Duterte has ordered the immediate completion of the mothballed Central Mindanao Airport here and asked Senator Christopher Lawrence “ Bong” Go to source out funds for it. During his visit on Dec. 30, 2019 here, where he turned over relief and financial aid to thousands of quake victims, the President said the airport must be opened and utilized. The President issued the remark after Mindanao Development Authority (MinDA) chair, Secretary Emmanuel Piñol, and North Cotabato Governor Nancy Catamco sought his intervention for the immediate operation of the airport here to boost economic development in mainland Mindanao.

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Local execs warned not to meddle on steel plant R

By MDN News Service

EMINDING them of the abrupt pull out of a supposed Korean shipbuilding facility twelve years ago, Malacanang issued a stern warning to local politicians not to meddle in the soon to be constructed $4-billion integrated steel facility inside a 305-hectare prime property of Phividec Industrial Estate in Tagoloan, Misamis Oriental.

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It can be recalled that in 2008, Hanjin Heavy Industries, a Korean shipbuilding conglomerate has started building its $2 billion shipyard facility at the same site only to pack up later because of widespread STEEL/PAGE 11

STEEL PLANT. A $4-B modern steel plant will rise at the Phividec Industrial Estate in Tagoloan, Misamis Oriental.

Thousands of devotees flock Oro’s ‘Traslacion’ By MARK FRANCISCO, Reporter

WHILE conflicting figures on the number of devotees h o u n d e d y e s t e r d a y ’s Traslacion in Cagayan de Oro City, but overall, the Cagayan de Oro City Police Office (Cocpo) said the yearly religious event by the Roman Catholic church was generally peaceful. The Black Nazarene Traslacion has been an annual event in Cagayan de Oro for the past 11 years after the church in Quiapo gave

the Nazareno parish here a replica of the icon that is being paraded in Manila every January. The Cocpo has estimated around 200,000 devotees flocked the Nazareno Parish Church along CM Recto Avenue in Cagayan de Oro which now holds three replicas of the Black Nazarene – the first image of the parish, the donated one from Quiapo Church where a piece of the TRASLACION/PAGE 9

‘TRASLACION’. The statue of the Black Nazarene during the traslacion along Velez St. and C.M. Recto Avenue.

US-Iran tension to affect Mindanao agri sector By ANTONIO L. COLINA IV, MindaNews

COTTAGE INDUSTRY. A craftsman displays his crafts made of bamboo and other local materials during the opening day of Camiguin's 52nd Founding Anniversary at Mambajao, Camiguin, on Monday. photo by gerry lee gorit

DAVAO City – The escalation of tension between the United States and Iraq will affect the agricultural sector and other industries in Mindanao

that are dependent on oil, a Mindanawon business leader said. Speaking during “Wednesdays at Habi at

Kape,” Antonio S. Peralta, executive director of the Eu rop e a n C h a mb e r of Commerce of the PhilippinesSouthern Mindanao Business Council, said prices of oilTENSION/PAGE 9

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