BusinessWeek MINDANAO CREDIBLE
Volume VII, No. 103
Market Indicators
As of 5:55 pm January 24, 2017 (tuesday)
FOREX
PHISIX
US$1 = P49.848
7,374.35
5.9
X X Briefly
cents
141.69 points
Spot market snag THE Department of Energy (DoE) has put on hold the acceptance of comments for the draft rules covering the launch of a wholesale electricity spot market in Mindanao, citing “recent developments.” Energy Undersecretary Felix William B. Fuentebella did not immediately respond to a request for details on what transpired recently to prompt the DoE to “temporarily discontinue” accepting comments. The circular, entitled “Declaring the Launch of the Wholesale Electricity Spot Market (WESM) in Mindanao and Providing for Transition Arrangements” was posted last week. The draft placed the market’s launch on June 26, 2017. A source familiar with the matter said the DoE was awaiting the submission of an “annex” covering a power dispatch protocol and would post the amended draft circular shortly. The notice on the DoE web site called on the industry to disregard the previous draft as the agency “will be uploading the revised version soon.”
Registration extended THE Cagayan de Oro City Council voted Monday afternoon to extend the renewal of business permits to February 28 this year. Councilor George Goking reported that the councilors voted 9-3 in approval of the measure to give a chance to local entrepreneurs time to recover from their losses in the massive flooding that hit the city last January 16. The earlier deadline was January 20. Meanwhile, city treasurer Glenn Bañez maintained that those who will fail to meet the new deadline will be meted 25 percent surcharge and two percent penalty.
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Four Mindanao cities to get Jap’s infra fund www.businessweekmindanao.com
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By MARK FRANCISCO, Staff Writer
NLY four cities in Mindanao would be eligible for infrastructure funding by the Japanese government, the Cagayan de Oro City Mayor Oscar Moreno said Monday.
VILLAGE POWER. Morning Mist Village residents to owner, drivers of noisy, overspeeding cars: “Enough is enough!”
The cities are those of Davao City, General Santos City, Butuan City, and Cagayan de Oro, he said. Moreno said he had the privilege to talk to Japan Prime Minister Shinzo Abe during the latter’s visit in Davao City last week. The Japanese official promised to extend financial assistance to various
infrastructure projects in four Mindanao cities, which include Cagayan De Oro City, Moreno said during Monday’s flag ceremony here. According to Moreno, the Japanese government has now also adopted a new policy of releasing funds through direct dealings with the local governments fund/PAGE 11
Village residents mount protest, lament noisy, overspeeding cars By BONG FABE, Contributing Editor
ANGRY and finally have enough, residents of one posh subdivision at the Pueblo de Oro Township in Cagayan de Oro City came out of their homes early Monday morning and held a picket
rally at the village’s main gate against a resident and other overspeeding vehicles that disturb the peace and quiet of the subdivision. “Today, we say enough is enough!” they said in a
statement released in time for the picket, three days after they officially filed a petition at the office of Regional Director Oscar Salcedo of the Land Transportation Office-X (LTO-10) against a resident, a certain Juan Miguel Arroyo protest/PAGE 11
Asean cultural body meeting set in Oro By MARK FRANCISCO, Staff Writer
CAGAYAN de Oro will host a huge meeting of the Association of Southeast Nations (Asean) from July 10 to 11 this year. The special meeting of the Asean Socio-Cultural Community Council will
be part of the country’s responsibility in hosting the Asean for the whole of 2017. In a post on Asean website, the meeting will be a run-up leading to the 50th anniversary of Asean
celebrations which will be held in November at Clark. The Asean Socio-Cultural Community Council is f o c u s e d on nu r t u r i n g the human, cultural and n at u r a l r e s o u r c e s f o r sustained development in a harmonious and peopleasean/PAGE 11
UNLOADING. A crew member of the 170-meter bulk carrier True Faith supervises the unloading of cement bags at a port in Buhisan, Tibungco, Davao City on January 17, 2017. MindaNews photo by MANMAN DEJETO
ARMM sets standards, protocol of Bangsa specific investments C O TA B AT O C i t y - Investment officials of the Autonomous Region in Muslim Mindanao (ARMM) are prep ar ing business investment standards and
protocols for the Bangsamoro specific investments. Lawyer Ishak Mastura, ARMM Regional B oard of Investments (RB OI) protocol/PAGE 11
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