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Best in Business and Economic Reporting Philippine Press Institute Civic Journalism Community Press Awards 2013
Volume V, No. 18
Market Indicators
As of 5:57 pm July 17, 2014 (Thursday)
FOREX
PHISIX
US$1 = P43.50
6,867.36 points
11 cents
X X Briefly 33.62 points
Best SETUP adoptors THE Department of Science and Technology (DOST) region 10 through the opening of the National Science and Technology Week (NSTW) recognized and awarded Micro, Small and Medium Enterprises (MSMEs) who adopted the department’s Small Enterprise Technology Upgrading Program (SETUP). In region 10, Green Pastures Corporation of Misamis Oriental, producer of health supplements and Moringa organic coffee bagged the best SETUP adoptor award. Their Moringa product earns double. In 2013, they earned P10M from merely P4M prior to the SETUP of DOST. President and CEO Reynaldo B. Paraguya expressed the group’s gratitude to DOST, saying that indeed this is a blessing for their company. He said that they started the manufacturing process manually but found the need to upgrade to address the increasing demand of the market.
Irrigation system TANDAG City -- The Provincial Irrigation Management Office (PIMO) under the National Irrigation Administration (NIA) in Surigao del Sur led by acting division manager Engr. Salome Layasan has continued to maintain and develop the irrigation system in the province. In a report dubbed as Project Status of calendar year (CY)-2012, CY-2013, Quick Response Fund, and CY-2014 Projects, Layasan bared the sum total of P1,241,509,765.52 as direct cost/awarded amount of irrigation projects to Surigao del Sur for the said periods apart from the P23,038,000 project tagged as “needing clearance” and the quick response fund (QRF) amounting to P53,621,000 due to Typhoon Pablo. It was learned that for calendar years 2012, 2013, and 2014, the allotted amounts were P704,443,362.52; P337,312,400; and P199,754,000, respectively.
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Mindanao remains top agri products exporter By CARMELITO Q. FRANCISCO, Correspondent
M
INDANAO continued to be the top producer of key agricultural export products in 2013 despite the lingering impact of the two storms in 2011 and 2012.
SKYLAB POWER. A motorcycle configuration known to locals as “Skylab” cruises along the national highway in the town of Nasipit in Agusan del Norte. mindanews photo by erwin mascarinas
The Mindanao Development Authority (MinDA) reported recently that total freight on board receipts registered a 15% annual increase to $7.6 billion last year even with devastation wreaked by typhoon Sendong in 2011 and typhoon Pablo in 2012. Mindanao leads in pro du c t i on of b anana , coconut, rubber, coffee an d pi n e app l e , am on g others. “We anticipated a downtrend in some of the regions’ agricultural produce,
particularly banana and coconut, because of the typhoons; but on the contrary, banana remained as our top dollar earner in 2013,” the report quoted Luwalhati R. Antonino, MinDA chairman, as saying. Using data from the Philippine Statistics Aut h or it y - Bu re au of Ag r i c u ltu r a l St at ist i c s , M i n DA r e p o r t e d t h a t while Mindanao’s banana production fell 7.2% to 7.013 million metric tons (MT) last exporters/PAGE 11
FDC, Fibeco seek ERC approval Higher fees for owners for power purchase agreement of two vehicles pushed By GRACE MAE BEBER, Staff Writer
ALTHOUGH the construction phase of its coal-fired power plant in Misamis Oriental has just begun, FDC Misamis Power Corp. has already inked a supply agreement with the Bukidnon’s power distributor
and is merely awaiting regulatory approval for its implementation. In a press statement, FDC Misamis and First Bukidnon Electric Cooperative, Inc. (Fibeco) said it already filed a joint petition in June 17
FIESTA LAUNCH. The coming August 28 fiesta of Cagayan de Oro City is sporting a new logo drawn by artist Simonette Faborada Sagaral. Arlene Moreno, wife of Mayor Oscar Moreno (right), and Dorothy Pabayo, tourism consultant, unveil the logo during the launching of Higalaay: Kagayhaan Festival 2014. mindanews photo by froilan gallardo
before the Energy Regulatory Commission (ERC) for the regulatory body to issue a provisional authority for their 25-year electric power purchase agreement (EPPA). Under the deal, FIBECO will source a portion of its power requirements from erc/PAGE 11
WB okays $119-M fund for peace, dev’t in M’danao
THE World Bank on Tuesday has committed up to $119 million to fund efforts in achieving lasting peace and development in Mindanao, especially in the Autonomous Region in Muslim Mindanao (ARMM). The Washington-based lender is expanding its support for Mindanao to build infrastructure and help alleviate poverty in the region, said World Bank fund/PAGE 11
By CRIZ DIAZ, Philippine News Agency
TWO Mindanao lawmakers have filed a measure requiring vehicle owners with more than one motor vehicle to pay higher registration fees. Reps. Rufus Rodriguez (2nd District, Cagayan de Oro City) and Maximo Rodriguez, Jr. ( Pa r t y - l i s t , Ab a nt e Mindanao, Inc.) authored House Bill 4181, which will impose additional rates on the annual registration of a second and subsequent vehicle registered under the same owner. Under t he me asure,
Rodriguez
additional rates for the annual registration of a second vehicle shall be charged the amount of P 5,000, a fees/PAGE 11
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