BusinessWeek MINDANAO
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Volume IV, No. 79
Market Indicators
As of 5:56 pm mar. 20, 2014 (Thursday)
FOREX
PHISIX
US$1 = P45.10
6,417.35 points
15 cents
X
45.14 points
X
Briefly Banana Tissue PANABO City – The City Agriculture Office here will commercially make available banana tissue culture facility in the last quarter this year after having started its operation last month. The City Agriculture Office started operating the laboratory last month, propagating Lakatan and Cavendish banana tissues made ready for planting within five to seven months depending on the variety of the banana. Located near the City Nursery at Agricultural Technology Institute Compound, the facility costs around P2 million with budget coming from the Department of Agriculture Region XI and the city government of Panabo. In an interview, City Councilor Renante Bangoy, chairperson of the Sangguniang Panlungsod Committee on Agriculture said the facility was designed to answer the needs of banana farmers who are looking for plantlets that are resistant to diseases.
Subdivision plan THE Cagayan de Oro City Council committee on subdivision and landed estate chaired by Councilor Alexander S. Dacer referred to the committee on laws and rules chaired by Councilor Ramon Tabor for appropriate action the application of Happyville Homeowners Association Inc. for alteration of plan of its subdivision project located in Barangay Lumbia. The alteration plan will affect 2,553 sq.m. with two subdivided lots, The Power learned. It was reviewed and favorably endorsed by the City Housing Board. (JBD) Oro dads give hats off to CdeO’s topnotch PMA-YERS FOR bringing honor and pride to Cagayan de Oro, top students of the Philippine Military Academy (PMA) Batch 2014 who are residents of the city, received recognition and plaudits from the 17th City Council headed by Vice Mayor Caesar Ian E. Acenas.
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Friday|March 21, 2014
Biz group slams NGCP over M’nao blackout By CARMELITO Q. FRANCISCO Correspondent
DBP lends P900M to Agusan Norte hydropower plant
THE state-owned Development Bank of the Philippines (DBP) signed recently a P900-million loan agreement with Asiga Green Energy Corporation (AGEC) to finance the construction of the 8-megawatt Asiga Hy d r o p o w e r P l a n t i n Santiago, Agusan del Norte. The project is part of DBP’s continuing thrust to promote new and renewable sources of energy in the country that protect the environment through reduced greenhouse gas e m i s s i ons . As i d e f rom helping stabilize the power supply in the Caraga region, the hydropower plant will also reduce an estimated 35,575.41 metric tons of carbon dioxide emitted to the atmosphere annually. The project is expected to prov i d e c ont r a c tu a l employment for 100 to 300 workers during the twoyear construction period. It will also provide permanent employment for 25 people who will man and operate the power plant. The Caraga region is composed of the provinces of Agusan del Norte, Agusan del Sur, Surigao del Norte, Surigao del Sur and Dinagat Islands. dbp/PAGE 11
T
HE Mindanao business sector has slammed the National Grid Corporation of the Philippines (NGCP) for failing to act immediately on the Feb. 27 Mindanao blackout.
HEAD FIRST. Enjoying summer, a boy dives head first into the Cagayan de Oro River near Isla de Oro where hundreds of houses were swept away during tropical storm Sendong. mindanews photo by froilan gallardo
Lumads back Bangsamoro creation but… By MINDANEWS
DAVAO City -- Lumad or indigenous peoples leaders in the Autonomous Region in Muslim Mindanao (ARMM) have expressed support to the creation of the Bangsamoro region, but are worried on the fate of their ancestral domains in the new entity. In a press conference on Wednesday at the Philippine Information Agency office here, Timuay Alim
Bandara, a Teduray tribal leader, said that indigenous peoples have expressed to their representatives in the B angsamoro Transition Commission (BTC) the need to respect their ancestral domain claims.
The BTC is drafting the Bangsamoro Basic Law (BBL), the charter that would govern the new Bangsamoro region once passed by Congress and ratified by the constituents in a plebiscite. The Bangsamoro, the product of the final peace deal between the lumads/PAGE 11
Vicente T. Lao, Mindanao Business Council (MBC) chairman, said the grid operator has failed to secure a reliable reserve plant that will fill the void when something happens similar to the Feb. 27 incident. The NGCP, Mr. Lao said, is not qualified to be the Mindanao grid operator. The grid operator, he said, should put up its own generating plant that will be on standby and will only be used when one plant goes offline. “It should put up its own generation that is also reliable,” he said. A similar problem will keep occurring as long as the grid operator “does not have a reliable plant that will serve as buffer,” he continued. However, the grid operator defended itself from the NGCP/PAGE 11
Bigger take with Steel Asia, Seaoil seen By CARMELITO Q. FRANCISCO Correspondent
DAVAO City -- The entry of two big companies in the city is expected to boost the revenues of the Bureau of Customs (BoC) port here by P200 million a month, an official said. Steel Asia Manufacturing Corp. and Seaoil Philippines, Inc. have started importing raw materials into their areas seaoil/PAGE 11
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