BusinessWeek MINDANAO “We Grow Minds”
2013 ppi’S Best in Business and Economic Reporting
Volume V, No. 170
Market Indicators As of 6:21 pm may 20, 2015 (friday)
FOREX
PHISIX
US$1 = P44.60
7,888.49
9
X
X Briefly
cents
17.18 points
Personal remittances PERSONAL remittances from overseas Filipinos (OFs) rose by 11 percent in March 2015 reaching US$2.3 billion. This was the highest monthly growth registered in 15 months, Bangko Sentral ng Pilipinas Governor Amando M. Tetangco, Jr. said. As a result, growth in cumulative remittances for the first quarter of 2015 accelerated to 5.1 percent from 2.1 percent in the first two months of the year bringing the cumulative remittances level to US$6.4 billion. The BSP said the continued increase in personal remittances during the quarter was driven by robust inflows from both land-based workers with work contracts of one year or more (5.3 percent), as well as seabased and land-based workers with work contracts of less than one year (6.1 percent).
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Thursday | May 21, 2015
By JELLY F. MUSICO, Philippine News Agency
M
ALACANANG on Wednesday thanked the House ad hoc committee for approving the draft of the Bangsamoro Basic Law (BBL).
”We would like to thank the House committee for approving the draft BBL,” Presidential Spokesperson Edwin Lacierda said in a text message to Malacanang media. Lacierda said the
passage of the BBL at the committee level of the House of Representatives brought the government closer to transforming Mindanao as new economic hub of the country. draft/PAGE 11
‘THE YES HAVE IT’. Cagayan de Oro Rep. Rufus Rodriguez leads House members of the ad hoc committee on the Bangsamoro Basic Law in a three-day deliberation on the newer working draft of the bill that will form part of the House version of the proposed law. By the vote of 48 in favor, 18 against and one abstention, the committee adopted the new draft with only a minimal deletion from the original form submitted by the peace panel. mindanews photo by froilan gallardo
Weak hydro keeps M’danao on brink By CARMELITO Q. FRANCISCO, Correspondent
M I N DA NAO’ S p owe r supply remains tight with output from the two main hydropower complexes, which provide more than half of the southern island’s demand, continuing at well
Portfolio investments TRANSACTIONS in foreign portfolio investments for the month of April resulted in overall net outflows of $31 million, slightly higher than the $22 million net outflows recorded in March. The Bangko Sentral ng Pilipinas (BSP) said this may be attributed to profit taking, as the first two months of the year yielded a total net inflow of $1.8 billion. Registered foreign portfolio investments during the month declined to $1.9 billion or by 7.1 percent from $2.1 billion last month. However, a slight improvement of 3.3 percent was noted yearon-year. A total of $2.0 billion outflows recorded for the month, 6.6 percent lower compared to the $2.1 billion for March 2015 but 27.0 percent higher than the $1.5 billion posted in the same period last year.
P15.00
Palace thanks panel for passing BBL draft www.businessweekmindanao.com
POVERTY. A demolished church building in Barangay Kalasungay, Malaybalay City reveals a picture of poverty behind it. mindanews photo by h . marcos c . mordeno
below capacity. The return to operations of a 105-megawatt (MW) coal-fired unit of Steag State Power, Inc., which was put on emergency shutdown for about two weeks, has not
provided much relief for the Mindanao grid. Jerome R. Soldevilla, Steag communications officer, confirmed to BusinessWeek Mindanao that the 105MW power unit resumed operations on May 14 and hydro/PAGE 11
State of calamity in CDO’s agri villages mulled
THE city council committee on agriculture and fisheries on Wednesday would tackle prop osal to declare 15 agricultural villages here By ARJAY SERAFIN FELICILDA of Mindanao Daily News under the “state of calamity.” During the regular session T H E O r g a n i z a t i o n A project of BusinessWeek Monday, the City Council set D e v e l o p m e nt S e m i n a r Mindanao C or p orat ion aside the proposed resolution (ODS) takes place starting ( BW MC ) , t h e t wo - d ay marked as “urgent” by City today at the UCCP Christian activity is expected to provide BRIGADA ESKWELA. Parents help clean the surroundings Mayor Oscar Moreno to Education Center, Claro M. managers and leaders with of Bulua Central School during the yearly pre-school year declare the 15 rural farming Brigada Skwela nationwide clean-up Monday, May 18. Recto Ave., this city. seminar/PAGE 11 villages here under the state photo by mark francisco of calamity and because of damages to crops spawned by the more than three months drought here. The City’s Disaster Risk Reduction and Management Council (CDRRMC) have submitted a consolidated report about the estimated damaged of crops and farm animals in the 15 villages here “hardest hit” by the long dry spell that became the basis Get your BWM Loyalty Card NOW at any of our participating establishments for ONLY P350.00, and avail DISCOUNTS. calamity/PAGE 11
Org dev seminar reels off
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