BusinessWeek Mindanao (January 17, 2014)

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BusinessWeek MINDANAO

YOUR LOCAL ONLINE BUSINESS PAPER

www.businessweekmindanao.com

Volume IV, No. 52

Market Indicators

As of 6:10 pm jan. 16, 2014 (Thursday)

FOREX

PHISIX

US$1 = P45.12

5,982.24 points

12 cents

X

X Briefly 24.12 points

Young inventors ANTI-THEFT devices, seawater-todrinkable water converter, automatic rain shield, solar power bank for cell phones and other gadgets were just some of the innovative products of young inventors from different schools in Region 10 showcased in the opening ceremony of the Department of Science and Technology (DOST) Regional Invention Contest and Exhibits (RICE) held January 15 at the SM Event Center in Cagayan de Oro City. A total of seven schools (from secondary to tertiary levels) entered the contest particularly Misamis Occidental National High SchoolOroquieta, Philippine Science High School-Main, Philippine Science High School-Central Mindanao Campus, Gusa Regional Science School, Misamis Oriental General Comprehensive High School, Liceo de Cagayan University and Xavier University-Ateneo de Cagayan University. One of the science products showcased in the contest-exhibit was PSHS-Central Mindanao Campus’ Desalinator Kit for Natural Disasters. It is a box-like device used to separate freshwater from saltwater in order to have drinkable water.

Relief efforts THE Department of Social Welfare and Development (DSWD) and local government units (LGUs) have stepped up relief efforts to assist some 29,885 families or 141,003 persons affected by the flooding in Mindanao. As of Wednesday, close to P15 million worth of relief goods have been provided by the DSWD and LGUs to victims in Northern Mindanao, Davao Region and CARAGA. DSWD has prepositioned more than P33 million worth of emergency relief resources readily available for augmentation to affected LGUs. There are still 282 evacuation centers open, serving 22,643 families or 106,194 persons. Those outside evacuation centers numbering to 5,086 families or 25,373 persons are also being served by DSWD.

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WB lowers PH growth target due to Yolanda

T

YPHOON Yo l a n d a battered not only lives and properties in the Visayas region, but also the country’s economy as a whole.

On Wednesday, the World Bank announced it cut its economic growth forecast for the Philippines for 2013 and this year after the devastating typhoon struck the central part of the country. In a new report, the Washington-based lender said the Philippines’ gross domestic product (GDP) likely grew 6.9 percent in 2013, a percentage lower than an earlier forecast of seven percent made last October. GDP is the amount of final goods and services produced in the country and growth/PAGE 7

FLIGHTS RESUMED. Relatives of airline passengers at the Laguindingan Airport in Misamis Oriental attempt a last glimpse of their loved ones when flights resumed Thursday (16 January 2014) after several days of cancellations due to bad weather. Various sectors have been complaining about the ill-equipped newly opened airport, which reportedly does not have air navigation equipment and runway lighting facilities. mindanews photo by bobby timonera

Local govt’s help sought Camiguin posts high investments in search for RE projects By JORIE C. VALCORZA, Contributor

THE Department of Energy (DOE) has called on local government units (LGUs) in Mindanao to identify potential renewable energy projects to help shore up power supply in the region. Jesus Tamang, DOE Energy Policy and Planning Bureau director, said the department sought the support of Mindanao’s local leaders to achieve energy sufficiency by identifying renewable energ y sources within their respective areas. sought/PAGE 7

MAMBAJAO, Camiguin – Camiguin reported a 20 percent rise in investment, last year, with P586million worth of capital recorded. The infrastructure and facilities sector brought in more than half of the pie or worth P286-million investments in the province, followed

by the services sector with P262million, trading at P38-million, and P.5-million from the manufacturing sector. Data of the Department of Trade and Industry (DTI) showed that these investments, together with the camiguin/PAGE 7

Davao region employment rate slows down n 2013 DAVAO City -- Employment rate in Davao region remained above the 90-percent mark but dropped from 95.2 percent in October 2012 to 91.7

Mindanao Daily NEWS

percent in October 2013, as shown in the socio-economic performance data for last year. rate/PAGE 7

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