BusinessWeek Mindanao (May 17-18, 2021)

Page 1

BusinessWeek M I N DA N A O CREDIBLE

Volume XI, No. 142

AS OF 6:00 PM MAY 14, 2021 (FRIDAY)

FOREX

X

US$1 = P 47.81

0.5 cents

PHISIX 6,269.36

32.96 points

YOUR MINDANAO-WIDE BUSINESS PAPER

RELIABLE

X

Briefly Alsons earnings A L C A N TA R A - l e d Alsons Consolidated Resources Inc. (ACR) registered increase in its first quarter net earnings to P379 million versus year ago’s P310 million. The income attributable to the parent firm has also gone up to P93 million compared to a leaner P55 million within the same threemonth period in 2020. O n t h e r eve n u e front, the publicly listed Alcantara firm noted that this was down to P2.16 billion as against P2.21 billion in the same first quarter last year.

Airline bailout A HOUSE legislator filed a measure that will allocate P40 billion to assist the air transport industry affected by the pandemic. AAMBIS-OWA Partylist Rep. Sharon S. Garin filed House Bill 9324 or the proposed “Air Carriers Relief Act” which will provide a relief package to the air transpor t sector following the damage done to travel by the coronavirus disease 2019 (COVID-19) crisis. The bill calls for “ ex te n d (e d) l o a n payments, interest-free loans, loan guarantees, and regulatory relief” for the industry.

IN-DEPTH

P15.00

Phase 1 of MindaRail to start in 3rd quarter www.businessweekmindanao.com

Market Indicators

We strive for Excellence!

Philippine Press Institute Civic Journalism Community Press awardee for the following: 2013 Best in Business and Economic Reporting 2014 Best in Environmental Reporting 2017 Best in Business and Economic Reporting 2018 Best in Business and Economic Reporting

D

Mon-Tue|May 17-18, 2021

Thank you for trusting us!

By ANTONIO L. COLINA IV, MindaNews

AVAO City– The construction of the 102-kilometer first phase of the Mindanao Railway Project (MRP) is expected to begin in the third quarter of this year, an official of the Department of Transportation (DOTr) said.

Engr. Neil Gabriel Bonto, DOTR-MRP deputy project manager, said in an interview that the agency remains confident that the target construction of the Tagum City-Davao City-Digos City (TDD line) is still feasible

even as the government has only a few months remaining before its deadline to have a portion of it operating by the first quarter of 2022. The DOTr committed to have a partial operability MINDARAIL/PAGE 9

SEC warns public vs. 28 investment scam entities THE Securities and Exchange Commission (SEC) here has warned the public of the proliferation of at least 28 groups and individuals e n g a ge d i n f r audu le nt investment schemes. “In its cont i nuous ef for ts i n i nvest igat i ng possible investment scams, the Commission warns the

public to be careful in dealing their investments,” lawyer Frederick Enopia, officer in charge of SEC-Cagayan de Oro (CDO) extension office, said in a statement released Friday. Since the start of the year, the SEC said it managed to identify 28 entities found SCAM/PAGE 9

ISLET RESORT. Medol Islet beckons from the shorelines of Medol beach, presently the most visited resort in Palimbang, Sultan Kudarat. mindanews photo by bong s. sarmiento

CDO imposes longer curfew due to spike in COVID-19 cases By FROILAN GALLARDO, MindaNews

THE Cagayan de Oro city government has imposed a longer curfew and prohibited the sale of intoxicating liquor

amid a spike of COVID-19 cases in the city. From May 15 to May 31, Mayor Oscar Moreno said curfew would be from 9 p.m. to 5 a.m. instead of 10 p.m. to 4 a.m. Selling liquor is prohibited during the curfew. Establishments violating the ban will be penalized

with cancellation of business p e r m i t s , a c c o rd i n g t o Executive Order 0-41 signed by Moreno on May 14. “The continuing rise of COVID-19 cases pose clear threats to the Critical Care Utilizaton Rate of our hospital system,” he said. The City Health Office in its May 15 report recorded 78 new cases, bringing to 876 CURFEW/PAGE 9

NO MASK NO ENTRY. Badjao village leader Ronald Ebbah helps man a checkpoint set up to prevent entry of potentially infected persons by checking on their temperature. None of the residents, however, have been tested for COVID-19. mindanews photo by rommel g . rebollido

Editorial and advertising email : businessweekmindanao@gmail.com • Cell Number : 0917-7121424 • 0947-8935776


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.