BusinessWeek MINDANAO CREDIBLE
Volume VIII, No. 7
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Bizmen in ‘watch, observe’ X X mode over Marawi crisis Briefly D www.businessweekmindanao.com
Friday | June 23, 2017
Market Indicators As of 5:10 pm June 22, 2017 (thursday)
FOREX
PHISIX
US$1 = P50.34
7,858.34
5
cents
-28.03 points
Probe over BPI mess
BANGKO Sentral ng Pilipinas (BSP) expects to complete its investigation on the technical glitch that hounded the internal system of the Ayala-led Bank of the Philippine Islands (BPI) by next month. The technical glitch on BPI system on June resulted in chaos among account holders last June 7. BSP Assistant Governor Chuchi G. Fonacier, of the Supervision and Examination Sub-Sector III, stressed that any penalty against BPI “would really depend on the nature of the situation.” She said on-going BSP investigation on the issue may end “maybe around July.”
PRDP’s agri-enterprise DAVAO City -- Around 10,000 more farmer-beneficiaries are expected to directly benefit from approved enterprise development projects under the Department of Agriculture’s Philippine Rural Development Project (PRDP), a recent report revealed. Under PRDP’s Investment for Rural Enterprise and Agricultural Productivity (I-REAP) portfolio, a total of 43 subprojects with a total cost of P184.21 million have been approved to date with one ongoing subproject in South Cotabato, the Cassava Granules Production and Marketing Project. Around 10,930 farmer beneficiaries from 110 cooperatives who act as proponent groups and impementers of the project will benefit from the subprojects. Forty-one (41) subprojects with a total cost of P151.14 million have been issued the No Objection Letter (NOL) 1 which means the these projects are now approved.
By ANTONIO L. COLINA IV, MindaNews
AVA O C i t y – A commercial real estate consultancy firm in the Philippines said that property developers and companies are not pulling out their investments in Davao City but acknowledged that the Marawi crisis and the declaration of martial law have put them in a “watch and observe” mode about coming to Davao City.
Property Interactive Marketing Enterprise (PRIME) Philippines founder and managing director Jettson Yu told “Wednesday’s at Habi at Kape” that the ongoing conflict in Marawi City between government forces and the Maute Group has affected the perception of investors on Davao but added they are not cancelling but only postponing their entry here. “There is definitely an effect. But from our investors from Luzon, we did not get a clear signal that they will not push through observe/PAGE 11
TURN-OVER OF COMMAND. Phil. National Police (PNP) chief Director General Ronald dela Rosa (center) in a happy mood as outgoing PNP-10 regional director Chief Supt. Agripino Javier (left) shakes hands with his successor, Chief Supt. Timoteo Pacleb (right) during the turn-over ceremony at the PNP-10 headquarters at Camp Vicente Alagar, Brgy. Lapasan, Cagayan de Oro on yesterday, June 22. photo by gerry lee gorit
Region 12 mangoes land in UAE By BONG S. SARMIENTO, MindaNews
TRADITIONAL WEAVING: Eluna Sadavao Magangcong performs the traditional way of making cloth at the weaving center in Barangay Tuyan in Malapatan, Sarangani on Wednesday. The center, one of the town’s tourist attractions, is managed by the Balungis Women’s Association. photo courtesy of cocoy sexcion/sarangani information office
Interfaith group appeals for help to rebuild Marawi By JIGGER J. JERUSALEM, PNA
LEADERS of an interfaith group on Wednesday asked various sectors to help rehabilitate Marawi, a city turned into rubbles by the ongoing conflict between extremists and government
forces. While appealing for help, the interfaith leaders also plead for the safe release of all civilians either trapped in their homes or taken hostage appeals/PAGE 11
KO R O NA DA L C i t y - Mangoes produced in Region 12 have penetrated the United Arab Emirates, officials said Thursday. Milagros Casis, Department of Agriculture Region 12 (DA-12) director, said the carabao mangoes
that were shipped to Abu Dhabi came from a group of farmers in Tulunan town, North Cotabato. This is the second shipment of mangoes to the United Arab Emirates produced in Region 12 or the Soccsksargen region, she
said. “In 2015, we also exported 2.5 metric tons of mangoes to Dubai, UAE,” Casis said. Region 12 comprises the provinces of S outh Cotabato, North Cotabato, Sultan Kudarat and Sarangani and the cities of General Santos, Koronadal, Tacurong, mangoes/PAGE 11
Fish production in R-10 declines By MARK FRANCISCO, Staff Writer
QUARRYING in several areas in Northern Mindanao has contributed to the decrease in freshwater fish production for the first quarter of 2017. In its quarterly report released recently, the National Economic and Development Authority (NEDA) 10 reported that there were only 168 metric tons of freshwater fish produced between January to March as compared to 290 metric tons for the same period last year or a decline of 42 percent. fish/PAGE 11
Bangus production in Balingasag, Misamis Oriental. Northern Mindanao posted a steep decline in fish production during the first quarter of this year.
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