BusinessWeek MINDANAO
GOD IS GOOD
2013 ppi’S Best in Business and Economic Reporting
YOUR Mindanao-wide BUSINESS paper
Volume VI, No. 111
www.businessweekmindanao.com
2014 ppi’S Best in ENVIRONMENTAL Reporting Monday | March 14, 2016
Banana players X X Briefly see less export
P15.00
PHILIPPIANS 4:13 I CAN DO ALL THIS THROUGH HIM WHO GIVES ME STRENGTH
Market Indicators As of 6:00 pm march 11, 2016 (Friday)
FOREX
PHISIX
US$1 = P46.692
7,098.64
5.2
cents
50.56 points
Food gourmet
DAVAO City -- The City’s top gourmet food businesses are featured together again in one event as a means to promote Davao through food tourism. The Davao Gourmet Collective (DGC) Food in the City will open this March 11 to March 13 at the Fountain Court of SM Lanang Premiere. The three-day food event is part of the celebrations of the 79th Araw ng Dabaw. It will showcase the city’s best gourmet specialties. SM Lanang hosted a media launch last March 4 where guests were able to taste the featured dishes. There are 15 exhibitors in the food fair which aims as an attraction with the special gourmet dishes, some found only in the selected establishments in the city, while other are only available during the event.
Calamity assistance THE regional Department of Social Welfare and Development (DSWD) in Northern Mindanao on Friday announced that some P884 million has been allocated to victims of disasters and calamities, especially those hard hit by the impact of El Niño. Virginia Cardona, disaster management focal person of the DSWD-10’s Crisis Intervention Unit, said that part of the budget would go to the tribal people in Northern Mindanao whose livelihoods were affected by the drought. Of the P884 million, some P304 million would be for the agency’s Cash for Work program; P505 million, for the Food for Work; and P73 million, for Food Assistance. Each family under the Cash for Work would be entitled to a P250 a day for 15 days, but she said they could not yet give the Cash for Work funds to the intended beneficiaries due to the prevailing weather condition. Cardona said they were still awaiting the release of the budget of the Department of Budget and Management, but at present, the DSWD-10 is using Php 3 million from its regular fund for the disaster aid. The agency also has an available 30,000 pieces of food packs that could be released anytime in case of calamities. The first batch of the recipient of the food aid where the 480 Lumad residents in the hinterland villages in San Fernando, Bukidnon. Cardona said that the welfare department had also turned over 3,360 packs to the local government units in San Fernando for distribution to El Niño-affected families.Aside from San Fernando, the welfare department also identified the Bukidnon towns of Kitaotao, Impasug-ong, Lantapan, Cabanglasan, Quezon, Malitbog, Kadingilan, and the cities of Malaybalay and Valencia, as hard-hit by the El Niño phenomenon. (PNA)
By CARMELITO Q. FRANCISCO Correspondent
T
HE banana industry does not expect to recover this year from the 62% drop in export receipts in 2015 given the prevailing El Niño, which is expected to last until July, and following to the decline in global market prices due to competition. Fresh banana exports last year were valued at $430.94 million, down from $1.13 billion in 2014, based on data export/PAGE 11
BEATING THE SUMMER HEAT. Children enjoy skinny dipping at the serene Cagayan River near the foot of Marcos bridge Sunday afternoon. PHOTO BY MARK FRANCISCO
AboitizPower starts export of renewable power to Visayas By BONG D. FABE, Contributing Editor
ABOITIZPOWER Corporation (AP) is now exporting clean, renewable and reliable energy to the Visayas Grid and is effectively decreasing the emission of an estimated 44,000 metric
tons of the greenhouse gas (GHG) carbon dioxide into the atmosphere through its 59 megawatt peak (MWp) P4.9 billion solar power plant in San Carlos City, Negros Occidental.
Construction of the solar power plant, operated by AboitizPower subsidiary San Carlos Sun Power (SaCaSun) was completed recently and was commissioned this week. “We have successfully completed the project in power/PAGE 11
Oro dads okay salary increases
FALCATA LOGS. Workers load Falcata logs into a truck in Trento, Agusan del Sur on Wednesday. Falcata plantations are aplenty in the Caraga Region. MindaNews photo by Roel Catoto
THE CAGAYAN de Oro City Council here has approved the first tranche of salary increase to all officials and employees of the city government, an official said Friday. Vice Mayor Ceasar Ian Acenas said that the City Ordinance No. 13053-2016 was approved pursuant to the Executive Order No. 201 signed by President Aquino on Feb. 19, 2016. salary/PAGE 10
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