BusinessWeek MINDANAO
GOD IS GOOD
2013 ppi’S Best in Business and Economic Reporting
YOUR Mindanao-wide BUSINESS paper
Volume VI, No. 114
Market Indicators As of 6:10 pm march 18, 2016 (friday)
FOREX
PHISIX
US$1 = P46.27
7,306.74
X X Briefly
17.3
95.84
cents
points
Japan’s aid JAPANESE Ambassador Kazuhide Ishikawa signed grant contracts with five Mindanaobased organizations for socio-economic development projects to be implemented in conflict-affected areas through the Grant Assistance for Grassroots Human Security projects (GGP). The grant assistance is under the Japan-Bangsamoro Initiatives for Reconstruction and Development (J-BIRD) program. The package assistance amounting to approximately to P23 million, is part of Japan’s commitment to peace and development efforts in Mindanao.
Energy fund THE Department of Budget and Management (DBM) announced the release of P1 billion to the Department of Energy (DOE) to cover the implementation of various projects on energy resource development and exploitation. These projects include, among others, the Nationwide Intensification of Household Electrification (NIHE) and Household Electrification Program in Off-Grid Areas Using Renewable Energy Systems (HEP). “This release will support the goal of 90 percent household electrification by 2017 and energization of millions of households not connected to the grid through solar power,” said DBM Secretary Florencio B. Abad.
2014 ppi’S Best in ENVIRONMENTAL Reporting
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PHILIPPIANS 4:13 I CAN DO ALL THIS THROUGH HIM WHO GIVES ME STRENGTH
More families starve as El Niño persists: DSWD www.businessweekmindanao.com
Monday | March 21, 2016
DSWD allocates P770-M for food for work, cash for work assistance
By URIEL C. QUILINGUING, Contributing Editor
S
OME 134,674 families in Northern Mindanao’s farming communities urgently need assistance for their day-to-day subsistence, social welfare and development secretary Corazon “Dinky” Soliman said in a news conference on Friday. This despite last week’s light rains in some areas in the region after an El Niñospawned dry spell which
started more than two months ago. The country’s weather agency however forecasted starve/PAGE 11
Kirahon solar farm unveiled NEW ORORAMA. Shoppers flock to the newly opened Ororama Carmen branch along Vamenta Blvd. during its opening Saturday. (Photo by Mike Baños, NPN)
Ororama Carmen reopens with new entrance By MIKE BAÑOS, Editor-at-Large
ORORAMA Superstores has opened its new branch in Cagayan de Oro City with a new entrance along Vamenta Boulevard, Carmen. In a glam-filled opening last March 18, the new two storey edifice which used
to house its parking lot was introduced to the public with Mayor Oscar S. Moreno as the guest of honor. Besides boasting of new basement parking along the Vamenta Boulevard entrance, it also features an escalator
to the 2nd story where its Department Store is located. In an earlier interview, Erwin Bryan O. See, vice president, disclosed the basement parking will be expanded to accommodate 80 cars once the former store facing Carmen Market is reopens/PAGE 11
‘Palaspas’ heralds Holy Week observance WITH the annual observation of “Linggo ng Palapas” (Palm Sunday), Holy Week in the predominantly Catholic Philippines has formally began this Sunday. “Palaspas” is derived from the Biblical tradition which states that Jesus Christ, the Son of God and Messiah, entered Jerusalem amidst the waving of palm fronds and great revelry among his followers. Ordinarily, “palaspas” is made from coconut fronds or banana trunks which are palaspas/PAGE 11
KIRAHON Solar Energy Corp., a joint venture of Solar Pacific Energy Corp. an d Mi n d an a o E n e rg y Systems Inc., started the
commercial operations of its 12.5-megawatt (MW) solar farm in Villanueva, Misamis Oriental. solar/PAGE 11
FAST CRAFT. A tugboat at the port of Lipata in Surigao City, maneuvers to dock a RoRo type fast craft that sailed from Liloan, Southern Leyte. This catamaran-type fast craft effectively cuts short travel time to only take 2 1/2 hours between the two ports of call. (Photo by JUN AYENSA)
Relief aids sent to Lumads in Bukidnon hit by drought By FROILAN GALLARDO, MindaNews
FOOD relief bags had been sent to 840 Lumad families in San Fernando town in Bukidnon affected by the prolonged dry spell or El Nino phenomenon, an official
said Friday. Department of Social Welfare and Development Secretary Dinky Soliman said relief workers who went relief/PAGE 11
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