BusinessWeek MINDANAO
2013 ppi’S Best in Business and Economic Reporting
YOUR Mindanao-wide BUSINESS paper
Volume VI, No. 084
Market Indicators As of 6:00 pm january 8, 2016 (friday)
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Briefly Biz optimism ZAMBOANGA City’s business sector is optimistic about the entry of investments with the economic integration of the Association of Southeast Asian Nations (ASEAN), despite continued security concerns in Western Mindanao. Pedro Rufo N. Soliven, governor for Western Mindanao of the Philippine Chamber of Commerce and Industry Foundation, Inc. (PCCIFI), said the ASEAN Economic Community (AEC) presents business opportunities given Zamboanga’s location, which could make it a major trading hub within the sub-regional grouping of Brunei Darussalam and parts of Indonesia, Malaysia and the Philippines. “Zamboanga City, from being the back door of the Philippines (could become) the front gate to the ASEAN Economic Community,” Mr. Soliven said.
2014 ppi’S Best in ENVIRONMENTAL Reporting
P15.00
Banana exporters seek tax reprieve from govt www.businessweekmindanao.com
Monday | January 11, 2016
By ANTONIO L. COLINA IV, MindeNews
A
N official of the Philippine Exporters Confederation (Philexport) in Davao Region has called on the government to grant the banana industry here exemption from paying local property taxes while they are recovering from the losses. The call was issued by Philexport 11 president Ferdinand Marañon in an interview with reporters at the sidelines of the inauguration of the Therma South Energy Project in Binugao, Toril on Friday.
He said both small and big banana players have been plagued by several problems, including the Fusarium wilt, or the Panama disease, that has affected some 6,000 hectares of banana exporters/PAGE 7
BLACK NAZARENE. A child kisses the hand of the Black Nazarene inside Nazareno Chapel in Cagayan de Oro City as thousands of devotees join the traditional procession on Saturday. photo by gerry lee gorit
.2M devotees join ‘Black Nazarene’ procession in Cagayan de Oro City By CRIS DIAZ, Contributing Editor
Sea dispute STA. CRUZ, Davao del Sur -China cannot ignore the growing call from the international community on the need to resolve the South China Sea issue by adhering to the rule of law, President Benigno S. Aquino III said Friday. Such call is in line with the Philippines’ case filed at the international Arbitral Tribunal at The Hague, the President said during a media interview here. “Ngayon, puwede ba maignore ‘yung sa arbitration? Tandaan ninyo, lahat ng bansang may inaangkin dito sa tubig na ito, parating sinasabi, ‘We want to adhere to international law, and this is in conformity with international law,’” he said. China needs other countries to fuel its economic growth, he said, underscoring the importance of goodwill among nations.
AROUND 200,000 devotees from the Visayas and Mi nd ana o j oi ne d t he procession highlighting MONTERO SPORTS. Stronger, cleaner and more efficient, the all-new Montero Sport is now in Cagayan de Oro City with the launching ot its showroom in Barangay Gusa, this city. photo by gerry lee gorit
Lanao Sur guv vows to intercede on ROW issue By CHENG ORDONEZ, Executive Editor, BWM
ILIGAN CIT Y -- Power stakeholders in Mindanao have seen light at the end of the tunnel, so to speak, following the commitment of Lanao del Sur Governor Bombit Adiong to help resolve the problem on road-right-
of-way that is reportedly causing the series of bombing of power lines in the province. National Grid Corp. of the Philippines (NGCP) operations and maintenance head for Mindanao Engr. row/PAGE 7
the annual celebration of the Feast of the Black Nazarene in Cagayan de Oro City on Saturday.
Police officials estimated that the crowd has doubled over that of last year as venerating devotees continue to grow every procession/PAGE 7
Aboitiz gears up for geothermal sources By CARMELITO Q. FRANCISCO, Correspondent
D AVA O C i t y - Aboitiz Power Corp. (AboitizPower) formally inaugurated on Friday its 300-megawatt (MW) c o a l - f i re d p owe r plant here operated by subsidiary Therma South, In c . ( T SI ) . , w it h President Benigno S. C. Aquino III in attendance.
“When this plant becomes fully operational, we can count on it to consistently produce 300 megawatts of b a s e l o a d p o w e r, which means that this capacity can be tapped into anytime, rain or shine, with very minor fluctuations,” Mr. Aquino said in aboitiz/PAGE 7
PRO-COAL. President Benigno Aquino III leads the inauguration of the 300-megawatt coal-fired powerplant of Therma South Incorporated (TSI), a subsidiary of Aboitiz Power Corporation at Binugao, Toril in Davao City on January 8, 2016. mindanews photo by toto lozano
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