BusinessWeek Mindanao (June 17-18, 2015)

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BusinessWeek MINDANAO

2013 ppi’S Best in Business and Economic Reporting

YOUR Mindanao-wide BUSINESS paper

Volume V, No. 185

X

Market Indicators

As of 6:20 pm june 16, 2015 (Tuesday)

FOREX

PHISIX

US$1 = P45.14

7,496.54

6

X X Briefly

cents

40.38 points

Growth corridors NORTHERN Mindanao’s Regional Development Council (RDC-10) recently expressed its support for the implementation of the Mindanao Development Corridors, citing it as an innovative strategy that responds to the development needs of the island-region. In a resolution signed on March 19, 2015, RDC-10 members and stakeholders are enjoined to ensure complementation, synchronization, and convergence of resources with the existing development and physical framework plans, and other ongoing initiatives and emerging trends in the country that affect Mindanao. “We are fully supportive of initiatives that promote sustainable development in Northern Mindanao, and anchoring our efforts to the Mindanao Development Corridors is one of the efficient ways of achieving our goals,” said RDC 10 Chair and Lanao del Norte Governor Mohamad Khalid Dimaporo.

Price tags SURIGAO City – Department of Trade and Industry (DTI) Surigao del Norte provincial director Celestino Negapatan reminds all business establishments that putting two price tags on products they are selling is prohibited. Negapatan said that the buying public should be aware that whether the payment is made in cash or through a credit card, the amount they should be paying should be the amount reflected in the price tag. If in case there are two price tags, the lowest price should prevail as basis for the payment of the product being bought.

www.businessweekmindanao.com

2014 ppi’S Best in ENVIRONMENTAL Reporting Wed-Thu | June 17-18, 2015

P15.00

Banana exporters want say in China trade talks By CARMELITO Q. FRANCISCO, Correspondent

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ANANA growers have appealed to the government to give them a seat in ongoing trade talks between the Philippines and China as well as with other countries where the fruit is exported.

Industry representatives, in a recent dialogue with government officials, sought the help of the Mindanao Development Authority (MinDA) in pressing their request as the Philippines and

China are expected to reach agreements soon concerning banana exports. M i n DA’s R om e o M . Montenegro, head of public af fairs and invest ment trade/PAGE 11

CDO eyes ambitious P4.8-B revenue budget in 2016 By MARK FRANCISCO, Staff Writer BIRTH OF A CITY. Young passersby took time to read and have a look-see at the exhibit stand in front of the City Tourism Assistance Center. The exhibit installation bares the city’s history and citations as to how Cagayan de Oro became a city, the exhibit also showed old photos of the city for visual support. photo by shaun alejandrae yap uy

Risk-taker farmers get ‘surprised’ cash support from tobacco firm By BONG D. FABE, Contributing Editor

C L AV E R I A , M i s a m i s Oriental—Teary-eyed with joy for the “surprise” she had just received, 50-yearold Magdalena Sawitan of Barangay Madaguing repeatedly kissed the check for P20,469 written for her by the PMFTC during the recent Farmers’ Week celebration here. “Thank you very much for your help. I was really not expecting this,” said Sawitan, one of the pioneer tobacco

farmers here. She said that she was “encouraged” to venture into flue cured (Virginia) tobacco farming because of the cigarette manufacturing giant’s promised of taking great care of the farmers. “The company also encouraged us to practice crop rotation. So I still plant corn and cassava after harvesting my tobacco leaf four months after transplanting them.” Crop rotation or planting corn

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after harvesting the tobacco or vice versa is mandatory for all tobacco farmers here as this practice is one of the many ways to avoid crop diseases. It also help soil regeneration. Sawitan started tobacco in 2012 on a two-hectare farm. Since then, she is receiving more than P1,000 a week from the sale of her tobacco leaf. While her sales of tobacco is “just comparable” to her sales of corn and cassava before, she said she will not abandon farmers/PAGE 11

T H E c i t y g o v e r n m e nt is looking forward to an ambit i ous P 4 . 8 bi l l i on revenue in 2016, City Mayor Oscar Moreno announced Monday. Moreno made the

statement in a message during the observance of the city’s 65th Charter Day celebration here on Monday. T h e C it y E x e c ut i v e expressed confidence that budget/PAGE 11

RELIEF ASSISTANCE. Tobacco farmer Magdalena Sawitan of Brgy. Madaguing, Claveria, Misamis Oriental was teary-eyed and

overjoyed after receiving a check worth P20,469 form Philip Morris Fortune Tobacco Corp (PMFTC) executives led by Atty. Wilma Eisma, manager for public affairs and contributions and Claveria operations manager Ravi Lumunsad. The amount represents the company’s relief assistance to tobacco farmers affected by the onslaught of El Nino phenomenon. Aside from the cash subsidy, the farmers also got 2 sacks of rice and three-thousand pesos worth of goods for every half-a-hectare planted with tobacco. photo by shaun alejandrae yap uy

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