BusinessWeek Mindanao (July 3-4, 2015)

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BusinessWeek MINDANAO

2013 ppi’S Best in Business and Economic Reporting

YOUR Mindanao-wide BUSINESS paper

Volume VI, No. 003

X

Market Indicators

As of 6:32 pm july 2, 2015 (thursday)

FOREX

PHISIX

US$1 = P45.15

7,615.14

X

4 cents

39.99 points

X

Briefly Pyramiding scam OROQUIETA City -- The Department of Trade and Industry (DTI), here, has alerted the public against the pyramiding schemes of some companies/business groups that invite/recruit them. “The pyramiding scheme is generally characterized by people earning primarily from the act of recruiting other people who are made to pay significant registration fees to join them,” Delia M. Ayano, Provincial Director of DTI, said. Thus, in an effort to protect the welfare of consumers against the said schemes, DTI MisOcc has warned the public against investments that earn money from the recruitment of other members and not on the amount of products sold, Ayano said.

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TMO denies violation of PEMC’s must-offer rule

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By BONG D. FABE, Contributing Editor

OR the nth, Aboitiz Power Corporation subsidiary Therma Mobile Inc., has reiterated it did not violate the MustOffer Rule of the Philippine Electricity Market Corp. (PEMC) when it delivered “only” 100 MW to Manila Electric Co. (Meralco) in the November to December 2013 supply months despite having a rated capacity of 234 MW. “Although our rated capacity is 234 MW (net), we could not export as much

because of the condition of our engines and the limitation denies/PAGE 11

New wage hike in R-10 based on consultations, DOLE says By KIM NAMOCATCAT, Contributor

THE Department of Labor and Employment-Regional Tr i p a r t i t e Wa g e s a n d Productivity Board (DOLE-

RTWPB) explained on 30 June 2015 during a press conference in Cagayan de hike/PAGE 11

PRDP projects DAVAO City – Some P1.2 billion worth of infrastructure projects under the Philippine Rural Development Project (PRDP) have been allocated for implementation by the Department of Agriculture (DA) XI this year. This was disclosed by the Information Office of DA XI, which serves as the regional coordinating office for PRDP projects. This year, DA will be rehabilitating Farm-toMarket Roads (FMR) in the towns of Kapalong with 10.6 km worth P103.35 -million; San Isidro - with 8.93 km worth P83.34; Sto. Tomas - 12.63 km worth P117.47 - million; and New Corella with 15 km including 42 linear meters (lm) bridge P187.50 - million. Also included is the 8.7 km FMR worth P87.55 in Magsaysay, Davao del Sur.

P15.00

WATCH TOWER. The two-storey Agutayan Watchtower and Light House Project which will be inaugurated today at the Agutayan white island in Jasaan, Misamis Oriental. The project is a joint undertaking of the provincial government of Misamis Oriental, the Department of Energy (DOE), STEAG State Power Inc. (SPI) and LGU Jasaan. Misamis Oriental Governor Bambi Emano, together with SPI President and CEO Dr. Bodo Goerlich lead the inauguration rites.

DepEd chief: No child Tangub eyed as will be left behind Normin’s next By IRENE DAYO, Staff Writer

EDUCATION SUMMIT. Department of Education Secretary Bro. Armin A. Luistro graced the Mindanao Education Summit held July 1-2, 2015 in Cagayan de Oro City. It gathered education leaders, teachers, local government units, and stakeholders all over Mindanao. The Summit, which carries the theme, “Sa K to 12: Kayang-Kaya, Sama-Sama,” aims to increase awareness and gather support for the education department’s K to 12. photo by irene dayo

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DEPARTMENT of Education Secretary Bro. Armin Luistro yesterday has reasserted the Aquino administration’s thrust that “no child will be left behind” in school as he stressed the government’s continuing reforms aimed to improve the quality of education in the country. Luistro, who graced the 2-day Mindanao Education Summit held July 1-2 in Cagayan de Oro City, cited DepEd’s accomplishments,

and the programs set for the remaining 365 days of Aquino administration. The summit is aimed to spread awareness on the K to 12 program of the department, specifically the Senior High School Program, as it is approaches full implementation in 2016. Luistro said that compared to year 2008 record of public elementary students in the country which is 746,448, year deped/PAGE 11

growth center By MARK FRANCISCO Staff Writer

A ONCE sleepy city in Misamis Occidental is loomed to be a new growth center in Northern Mindanao with the impending opening of the Panguil Bay bridge, now under construction. Situated at the southern cur ve of the D-shap ed province of Misamis Occidental, Tangub City is sheltered by the mighty Mt. Malindang Range to the north and the placid Panguil Bay to the south. Composed of 55 barangays with a land area of 16,572 hectares, the economy relies heavily on coconut, corn and banana farming. But with the completion of the Panguil Bay bridge in 2018, that would soon change. Or so National Economic and Development Authority (Neda) 10 director Leon tangub/PAGE 11

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