BusinessWeek MINDANAO
2013 ppi’S Best in Business and Economic Reporting
YOUR Mindanao-wide BUSINESS paper
Volume VI, No. 086
Market Indicators
As of 5:35 pm january 14, 2016 (thursday)
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Briefly P52-M BUB projects TO facilitate employment in empowered communities, the Department of Labor and Employment-10 (DOLE-10) released P52.3M to the Local Government Units (LGUs) for the implementation of 49 Bottom-up Budgeting (BuB) projects in cities and municipalities in Northern Mindanao. DOLE-10 Regional Director Raymundo G. Agravante said, “We see to it that we intensify our participation in employment generation as our primary mandate. It is also our goal to develop and capacitate all LGUs and civil service organizations (CSOs) in the implementation of BUB projects to respond to the different needs in the communities.” The release of these funds to LGUs is subject to the following governance conditions: a) not receiving an adverse report from the Commission on Audit (COA); b) compliance with the Full Disclosure Policy; and c) submission of their LGU Public Financial Management Improvement Plan.
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M’danao gets P380-B from national budget www.businessweekmindanao.com
Northern Mindanao region gets biggest chunk with P78.53 billion
By ANTONIO L. COLINA IV, MindaNews
M
INDANAO will get P380 billion out of the P3.002 trillion approved national budget for 2016, an official of the Mindanao Development Authority (MinDA) said.
Mindanao’s share this year is 12.7 percent of the national budget. Compared to last year’s P302.4 billion share, the island’s budget increased by 25.7 percent this year. budget/PAGE 11
BUSTLING REGION. Cagayan de Oro City in bird’s eye view, northern Mindanao’s bustling capital. As the biggest contributor to Mindanao’s growth, the northern Mindanao gets the largest share among the island’s regions in this year’s national budget with a total of P78.53 billion mostly allocated for infrastructure development. file photo
$800,000 grant to upgrade Cag. de Oro water services By MARK FRANCISCO, Staff Writer
THE United States Agency for International Development (USAID) is assisting the main local water utility in Cagayan
Islamic banking COTABATO City -- Business leaders in the Autonomous Region in Muslim Mindanao (ARMM) and in Region 12 on Tuesday expressed optimism for the establishment of the country’s Islamic Banking System. Authored by Anak Mindanao (Amin) Partylist Rep. Rep. Sitti Djalia Turabin-Hataman, HB 5989 is still being deliberated in the House of Representatives. Muslim and Christian business leaders in the region attended yesterday’s first roundtable discussion (RTD) on HB 5989 here. Aside from Hataman, speakers included Salem Ghandour of the Maybank Islamic Berhad in Malaysia and Isidro Sobrecarey of the Amanah Islamic Bank.
P15.00
Friday | January 15, 2016
de Oro City to recoup from its gargantuan losses due to perennial leakages of its pipes. upgrade/PAGE 11
PLANTING RICE. Farmers take advantage of the rain that provide them with an opportunity to plant rice despite the looming threat of El Nino in the region which is predicted to last until the middle of the year. photo by jun ayensa
Food, transport, travel are BIMP-EAGA priorities By CARMELITO Q. FRANCISCO, Correspondent
DAVAO CITY -- The Brunei D ar uss a l am-Indonesi aMalaysia-Philippines-East ASEAN (Association of Southeast Asian Nations) Growth Area (BIMP-EAGA) is putting flesh into the policy
framework that is intended to guide the sub-region’s development strategy from 2017 to 2025 by identifying priority projects to receive investment. Romeo M. Montenegro,
director for investment promotions and public affairs of the Mindanao Development Authority, said officials of the four member countries will meet here on Feb. 23-26 to draft the programs for the framework, approved last priorities/PAGE 11
SUMILAO BROOMS. A vendor sells brooms made of grass at the side of the Sayre Highway in Sumilao town, Bukidnon. mindanews photo by froilan gallardo
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