BusinessWeek M I N DA N A O CREDIBLE
Volume XI, No. 16
AS OF 6:00 PM JULY 10, 2020 (FRIDAY)
FOREX
PHISIX
US$1 = P 49.485
6,197.38
7.50 cents
X
4.80 points
YOUR MINDANAO-WIDE BUSINESS PAPER
RELIABLE
www.businessweekmindanao.com
Market Indicators
X
Briefly Less fruits PRODUCTION of three major fruit crops — banana, calamansi and mango — declined in the first quarter while output of pineapple, the fourth major crop, rose, according to the Philippine Statistics Authority (PSA). In its major fruit crops quarterly bulletin, the PSA said that banana output fell 2.4% year on year to 2.06 million metric tons (MT) in the first quarter. Davao Region accounted for 36.7% or 757,261 MT of the banana crop, followed by Northern Mindanao at 25.4% or 524,728 MT, and SOCCSKSARGEN (South Cotabato, Cotabato City, Sultan Kudarat, Sarangani, and General Santos City) at 12.4% or 256,560 MT.
IN-DEPTH
Monday|July 13, 2020
P15.00
Iligan City’s mothballed steel plant rising again
I
By RUFFY MAGBANUA
LIGAN City — A new, state-of-the-art fully integrated steel mill is poised to rise again in this once touted as the industrial city of the south.
Iligan City Mayor Celso Regencia has acknowledged last week the intent of a foreign-funded consortium in the amount of 4-B euros for the rebirth of the new
National Steel Corporation. This development came as a big surprise after a series of failed investment proposals — mostly from Chinese groups — were presented before the
pandemic to Mayor Regencia for the plan to rebuild the defunct NSC. Mayor Regencia had expressed optimism the latest investment proposal would push through as it were considering the seriousness of the consortium to proceed amid the growing threat of Covid-19. “We are bullish with the development to re-construct PLANT/PAGE 11
Thank you for trusting us!
The new NSC steel mill similar to this one will rise at the same site in Iligan City.
Banana exports seen to slowdown in 2020 BANANA exports in 2020 are expected to decline 20% due to stronger competition, higher tariffs, and declining output and hectarage due to Panama disease, the
Buy local COMPANIES, business organizations, and members of the private sector launched the ‘Buyanihan’ program on Friday night to support the Department of Trade Industry’s (DTI) “Buy Local, Go Lokal” campaign. Initiated by the Association of Filipino Franchisers, Inc. (AFFI), the program promotes buying local products and services to help the country’s micro, small, and medium enterprises (MSMEs) revive their businesses amid the Covid-19 pandemic. Trade Secretary Ramon Lopez, in his speech during the 'Buyanihan' e-launch, said promoting the purchase of products and services of local MSMEs would increase and improve consumer confidence as the country gradually reopens the economy.
We strive for Excellence!
Philippine Press Institute Civic Journalism Community Press awardee for the following: 2013 Best in Business and Economic Reporting 2014 Best in Environmental Reporting 2017 Best in Business and Economic Reporting 2018 Best in Business and Economic Reporting
Pilipino Banana Growers and Exporters Association, Inc. (PBGEA) said. In a virtual media briefing on Wednesday, PB GEA EXPORTS/PAGE 10
HAZARDOUS. Wearing no gloves and some even without masks, despite the occupational risks, garbage collectors pick up the trash at the Cogon public market in Cagayan de Oro City. photo by froilan gallardo
$300-M loan for Agus-Pulangi rehab slated next year: WB THE World Bank said the estimated approval date of the $300-million (around P15 billion) loan to support the
Agus-Pulangi Hydropower Complex Rehabilitation Project is Sept. 29, 2021. The rehabilitation is
expected to restore AgusP u l ang i’s d e te r i or at i ng generating capacity, thereby REHAB/PAGE 10
TABO. The rural market system in the Municipality of Datu Piang in Maguindanao is as “normal” as it was before the COVID-19 pandemic. The tabo is held every Tuesday with farm produce coming from rural barangays. In this photo, the two heads of young turkey is sold for P2,500 while five heads of young poultry is sold for P650. The produce came from the small free range farms in Barangay Magaslong. The town remains free of COVID-19 as of press time. mindanews photo by jules l . benitez
MINDANAO DAILY
RADYO SERBISYO | 106.3 FM CDO Editorial and advertising email : businessweekmindanao@gmail.com • Cell Number : 0917-7121424 • 0947-8935776