BusinessWeek Mindanao (July 6, 2016)

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BusinessWeek MINDANAO

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2013 ppi’S Best in Business and Economic Reporting

YOUR Mindanao-wide BUSINESS paper

Volume VII, No. 013

Market Indicators As of 6:21 pm july 5, 2016 (tuesday)

FOREX

PHISIX

US$1 = P46.90

7,808.13

X

6.7 cents

38.41

X

points

Briefly Rising hunger THE RANKS of those who went hungry due to lack of food at least once grew in January-March from last year’s closing quarter as the administration of former President Benigno S. C. Aquino III entered its final three months in office, according to a Social Weather Stations (SWS) report that cited a significant increase in Mindanao from where newly seated President Rodrigo R. Duterte hails. The increase in hunger rate was driven by a six-point rise in Mindanao to 19% (or an estimated 978,000 families) from 13% (658,000) in December that offset a three-point decline in Metro Manila to 14% (429,000 families) from 17% (513,000 families), a one point dip in the Visayas to 10.3% (449,000 families) from 11.3% (484,000 families), and a 2.6-point increment in Luzon areas outside the nation’s capital to 12.3% (1.2 million families) from 9.7% (952,000 families).

Power barge turn-over THE Power Sector Assets and Liabilities Management Corp. (PSALM) turned over the 32-megawatt power barge 104 to its new owner SPC Power Corp., which won the floating generating station in a bidding held in April. Lourdes S. Alzona, PSALM’s officer-in charge, said in a statement on Friday that the closing of the power barge sale was “another manifestation of the strong partnership and collaboration between the government and the private sector that rests on a solid platform to provide reliable and quality supply of power to Filipino consumers.”

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Indonesia’s ban on coal won’t affect Mindanao www.businessweekmindanao.com

Wednesday | July 6, 2016

By BONG D. FABE, Contributing Editor

T

HE recent imposition of a ban on coal shipments to the Philippines by the Indonesian government will not adversely affect Mindanao’s daily power requirements, the spokesman of Mindanao’s first coal-fired power plant said yesterday. Jerome Soldevilla, communications officer of the Steag State Power, Inc. (SPI) said that the Mindanao Power Plant is unaffected by the ban. “As we understand it, the ban is imposed only on coal ships carrying the Indonesian flag. But since our coal imports are shipped on non-Indonesian flag-carrying vessels, it will have no negative effect on us,” Soldevilla told this reporter. He assured power consumers of a stable supply coal/PAGE 11

EID MUBARAK! Muslims pray outside a mosque in Davao City as the Muslim community marks the end of the Holy Ramadan in this file photo. This year, the whole month of prayers and fasting end today, July 6, 2016. MindaNews file photo by Toto Lozano/AKP Images

Today is national holiday for Eid’l Fitr By MINDANEWS

DAVAO City – Wednesday, July 6, has been declared a regular holiday through the country in observance of Eid’l Fitr, which marks the end of the month-long Ramadan. President Rodrigo Duterte on Monday issued Proclamation 6, declaring July

6 as a holiday, in accordance with RA 9177 which was passed on November 13, 2002 declaring Eid’l Fitr as an annual national holiday but whose date every year has to be determined “in accordance with the Islamic calendar (Hijra) or the lunar calendar,

or upon Islamic astronomical calculations, whichever is possible or convenient” Proclamation 6 states that Eid’l Fitr is celebrated by the Muslim world for three days after the end of the month of fasting; that the entire Filipino holiday/PAGE 9

Investment leads in Mindanao almost P900B as of last month

Cusi keen on linking Vis-Min power grids

ENERGY Secretary Alfonso Cusi said Monday the completion of the inter-connection of the three main grids could be implemented during his term. Cusi said in a press conference he is now studying the potential project. Power-grid operator National Grid Corp. of the Philippines (NGCP) started the feasibility study on different routes to connect the two main islands, an undertaking that is expected to be completed this year. The Energy Regulatory Commission (ERC) approved a budget of P152.46 million for NGCP to linking/PAGE 9

By ANTONIO L. COLINA IV, MindaNews

DAVAO City -- Investment leads in Mindanao surged in June to surpass the figures for the first four months of 2016, according to data from the Board of Investments–Southern Mindanao. BOI-Southern Mindanao chief Gil

Dureza told Kapehan sa Dabaw at SM City on Monday the P886.75 billion investment leads last month showed an improved investors’ confidence for Mindanao after the victory of President Rodrigo R. Duterte in the leads/PAGE 11

Normin braces for La Niña DEPARTMENT of Interior and Local Government in northern Mindanao has convened member agencies of the Disaster Preparedness Committee to carry out measures on the impending threat of La Niña in the coming months.

The latest advisory from the Philippine Atmospheric, Geophysical, and Astronomical Ser vices Administration (PAGASA) reports the El Niño as weakening and “in its decaying stage,” and the development braces/PAGE 9

DEEP AND COOL. Tayangban Cave Pool in Barangay Datu in Pilar town in Siargao Islands, Surigao del Norte has been drawing tourists for its cold, deep water and a cave system which hosts hundreds of bats. The cave has stalactites that measure from 20-30 feet. MindaNews photo by Roel N. Catoto

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