BusinessWeek M I N DA N A O CREDIBLE
Volume XI, No. 93
AS OF 6:00 PM JAN. 12, 2020 (TUESDAY)
FOREX 1.20
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PHISIX 7,304.79
14.91 points
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Briefly Pork PRICES up THE rise of pork retail prices in Metro Manila was caused by a scaling back of production by commercial hog raisers due to the spread of African Swine Fever (ASF), an industry official said. In a radio interview Friday, Nicanor M. Briones, Vice President for Luzon of the Pork Producers Federation of the Philippines, Inc. (ProPork). said Luzon is experiencing a shortage after most backyard and commercial hog raisers voluntarily cut back on their operations out of fear their animals will contract ASF. “You will go bankrupt if you are affected by ASF since there is no cure yet. Also there is no budget from the Department of Agriculture (DA) to assist hog raisers,” Mr. Briones said
Stable outlook FITCH Ratings’ affirmation of its ‘BBB’ investment grade rating with stable outlook for the Philippines’ is expected to attract more investments given the country’s improved fundamentals. In a reply to e-mailed questions from PNA, Rizal Commercial Banking Corporation chief economist Michael Ricafort said the latest affirmation of the country’s credit rating defies “the adverse economic effects of the Covid-19 pandemic that led to downgrades in the outlook and credit ratings of other countries around the world.” This development, he said, “signal(s) resilience and would also encourage the entry of more foreign investments/FDIs (foreign direct investments), amid improved economic and credit fundamentals of the country, thereby increasing international investor confidence/sentiment on the country and generating more employment and other business/economic activities in the country, as needed to help sustain economic recovery/rebound after the Covid-19 lockdowns.”
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YOUR MINDANAO-WIDE BUSINESS PAPER
Wednesday|January 13, 2021
Catching a dogtooth tuna By ROEL CATOTO, MindaNews
SURIGAO City – As the world got scared with the pandemic and everyone tried to distance themselves from other people to avoid catching the virus, I was safely secluded in Siargao, an island paradise in Surigao del Norte, fishing with good friends. I moved to Siargao four years ago to try my luck in the tourism industry, helping manage small resorts there. But the crowd in General Luna, the surfing capital where rich foreigners used to flock, got me worried. Even as most of its establishments, the streets and the shores were empty when travel to the island was banned in March last year and quarantines were set in place, I moved out and temporarily settled TUNA/PAGE 7
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By MYRNA M. VELASCO, Contributor
XISTING generating facilities with definitive expansion plans will be excluded from the coverage of the coal moratorium policy that was finally firmed up by the Department of Energy (DOE) in an advisory that it issued this week.
Aside from expansion projects, exempted from the prohibited coal plant investments are: a) the committed power projects; and b) the indicative power projects with substantial accomplishments on permitting. The indicative coal plant ventures that could still be implemented include those: with signed and notarized acquisition of land or lease agreement for the project; and those with approved permits or resolutions from local government units (LGUs) and the Regional Development Council where the power
plants will be located. On the whole, the ventures covered by the coal moratorium will just be the new or greenfield power plant developments that are still requesting for endorsements from the energy department. T h e m o r a t o r i u m’s effectivity was as of October 27, 2020 – when Energy Secretary Alfonso G. Cusi, made verbal declaration on the policy. The advisory was dated December 22, 2020 but it was only released January 11 this year. As could be gleaned from the Philippine Energy EXPANSION/PAGE 6
WICKED TUNA. Roel and his 55-kilo prize catch. photo courtesy of john rod catoto
Project delays seen to cripple power generation in Mindanao T H E d e l ay i n c r i t i c a l transmission projects brought about by the latest travel ban will affect the operations of power generation companies in Mindanao, a power plant developer said. This comes after
privately owned National Grid Corporation of the Philippines (NGCP) earlier raised concerns that delays caused by the newest travel ban would hamper critical power transmission projects that had yet to be completed.
In a press release on Dec. 31, the firm said that the travel restrictions would slow down the vessels carrying transmission equipment for the submarine cable laying activity of NGCP’s MindanaoDELAYS/PAGE 7
ICONIC TREE HOUSE. Built in April 1960, the iconic Tree House of Pasonanca Park in Zamboanga City still stands and can still be rented for overnight stay. mindanews photo by jules l. be
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