BusinessWeek Mindanao (January 5, 2018)

Page 1

BusinessWeek M I N DA N A O CREDIBLE

Volume VIII, No. 96

Market Indicators FOREX

PHISIX

US$1 = P49.82

8,739.83

X

1 cent

15.7 points

RELIABLE

X

Briefly

‘Vinta’ damage DAMAGE to agriculture caused by tropical storm ‘Vinta’ in Regions VIII, IX, X, XI and CARAGA has now climbed to P1,3,07,319,391.11, the National Disaster Risk Reduction and Management Council (NDRRMC) said in an update Monday afternoon. Most of the damages were sustained by rice and corn fields in the affected regions, NDRRMC executive director Ricardo Jalad disclosed. Also, damage to infrastructure to Regions IX, X, and XI were placed at P242,695,110 while 6,850 houses, 3,641 totally and 3,209 partially, were reported damaged in MIMAROPA, Regions IX, X, XI and the ARMM. Affected families were also placed at 168,081 or equivalent to 794,613 persons residing in 1,151 barangays in MIMAROPA, Regions VIII, IX, X, XI, XII, ARMM and the CARAGA.

Supply contract ABOITIZ POWER Corp. said its subsidiary has signed a 20-megawatt (MW) renewable energy supply agreement with South Cotabato’s electric cooperative, which is aiming to balance its power generation mix. “With Hedcor’s 69MW Manolo Fortich hydro power plant in Bukidnon wrapping up its construction, [South Cotabato II Electric Cooperative, Inc.] Socoteco II is looking forward to receiving their energy supply by 2018,” AboitizPower said in a statement on Monday. Socoteco II currently serves General Santos City and the municipalities of Sarangani, Tupi, and Polomolok in South Cotabato. Hedcor, Inc.’s hydropower facility in Manolo Fortich, Bukidnon is now on its commissioning phase.

IN-DEPTH

Lapasan Highway, Cagayan de Oro City

Marawi loses bid as pilot for investment www.businessweekmindanao.com

As of 5:30 pm January 4, 2018 (thursday)

Cagayan de Oro

YOUR Mindanao-wide BUSINESS paper

Friday | January 5, 2018

P15.00

D

By MINDANEWS

AVA O C i t y — Marawi City would have been the pilot area for a three billion peso telecommunications project in the Autonomous Region in Muslim Mindanao (ARMM) but investors opted to make the ARMM government compound in Cotabato City as its pilot area instead due to the Marawi Siege, the Regional Board of Investments (RBOI) said.

DUSK. Low tide prevails in the morning of January 3 at the Cagayan de Oro Coastal Road as dusk turns to dawn in this first sunrise of the year. The first two mornings of 2018 were hampered by rain clouds caused by tropical depression Agaton. photo by mark francisco

Duterte tackles trade, security issues with Indon diplomat DAVAO City - Indonesian Foreign Minister Retno Marsudi paid a courtesy call on President Rodrigo Duterte at the Presidential Guest

House here on Wednesday, January 3. During their meeting, both President Duterte and the Indonesian Foreign Minister

In a press release, the ARMMRBOI announced it approved P3.2 billion worth of investments in 2017, 53% higher than P2.11 billion in 2016. bid/PAGE 11

agreed to elevate cooperation on trade, maritime security, education, and in eradicating terrorism. diplomat/PAGE 11

Davao Region focused on boosting output of cacao, coffee, coco crops By CARMELITO Q. FRANCISCO, Correspondent

DAVAOCity—TheDepartment of Trade and Industry in the Davao Region is focusing on developing cacao, coffee

and coconut next year via the provision of about P34 million in shared-service facilities. The agency’s regional

director, Maria Belenda Q. Ambi, said last week that these facilities will focus on improving the marketability of the crops. output/PAGE 11

STATELESS NO MORE. Indonesian Foreign Affairs Minister Retno Marsudi (left) and Consul General Berlian Napitupulu award a passport to an Indonesian resident in Balut Island, Davao Occidental during ceremonies on Wednesday (January 3) at the House of Indonesia in Davao City. mindanews photo by antonio l. colina iv

M’danao journos get training on extractive industries reporting By MARK FRANCISCO, Staff Writer

EXTRACTIVE INDUSTRY REPORTING. Participants to the 4 days seminar-workshop on Covering the Extractive Industries Mindanao leg being held at Tavern Hotel, Surigao City January 3 to 6, 2017. philippine press institute photo

SURIGAO City -- More than a dozen journalists from all over Mindanao attended a four-day seminar workshop on how to cover and report on the extractive industries in the country as organized by the Philippine Press Institute (PPI).

Here in the Philippines, the biggest players in the extractive industry aside from the mining sectors, both large-scale and small-scale, are dredging and sand and gravel quarrying. PPI executive director training/PAGE 9

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