BusinessWeek M I N DA N A O CREDIBLE
Volume VIII, No. 151 As of 6:00 pm May 29, 2018 (tuesday)
FOREX
PHISIX
US$1 = P52.49
7,642.90
X Briefly
cents
4.61
RELIABLE
X
points
Rice prices up THE farmgate price for palay, or unmilled rice, rose 8.71% year on year in the second week of May to P20.97 per kilogram (kg), the Philippine Statistics Authority (PSA) said. According to the PSA’s “Updates on Palay, Rice and Corn Prices” report, palay prices in the second week of May were little changed from a week earlier, where they were at P20.96. The PSA also reported that the wholesale price of well-milled rice rose 6.67% year on year to P41.12 per kg but fell 0.02% from the previous week.
IN-DEPTH
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Tue-Wed|May 29-30, 2018
By ANTONIO L. COLINA IV, MindaNews
AVAO City – President Rodrigo Duterte signed Republic Act No. 11032 or the Ease of Doing Business and Efficient Government Service Delivery Act on Monday, May 28.
An amendment of the Anti-Red Tape Act of 2007, the new law seeks to make the process of putting up and running a business in the Philippines easier and
more efficient. In his speech in Malacañang, Duterte hopes the law will “solve the perennial problem of law/PAGE 11
Davao’s P8.6B budget DAVAO City -- The city’s total budget next year is projected at P8.6 billion, 7 percent higher than this year’s, a City Council member said. Councilor Danilo Dayanghirang, chairperson of the finance, appropriations, ways and means committee, said the budget will ensure the delivery of basic services to the city’s 1.5 million residents and fund the local government’s operations. Dayanghirang said 45 percent will be allocated for maintenance and operating expenditure, a sizable amount enough to pay for upkeep of a city with a territory covering 244,000 square kilometers. He said the operation expenses include the maintenance and salary of the personnel of Central 911, which operates 24 hours a day, as well as for the operations of the Task Force Davao.
Cagayan de Oro Lapasan Highway, Cagayan de Oro City
Law that hastens biz transactions signed www.businessweekmindanao.com
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SAND MINING. A worker repairs a wide hull boat used in manual sand mining along the Davao River in Barangay Waan, Davao City. mindanews photo by manman dejeto
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A bountiful rice yield to once deserted laterite-laden farms By CHRIS V. PANGANIBAN Contributing Editor
CLAVER, Surigao del Norte – Farmers in this rich mining town have reaped a bountiful harvest on their organic rice lands which many thought it was impossible to bring back to life a laterite-laden wasteland deserted 12 years ago. Ignacio Lauzon, chief executive officer of Good Harvest Bio-organic Farming Inc. who helped restore the abandoned farms, said the harvest yielded at least 130 sacks per hectare to the big surprise of farmers in the village of Urbiztundo. The rehabilitation of rice farms were jointly initiated by the Army’s 36th Infantry Battalion and Taganito HPAL Nickel Corp to let residents
Lt. Col. Xerxes Trinidad, commander of the Army 36th Infantry Battaion, proudly shows a bundle of rice stalks he sickled at the once deserted laterite-laden wasteland in the rich mining town of Claver in Surigao del Norte. chris v. panganiban
go back to sustainable farming for them to get ready after the life of mining operation in the next 21 years.
Alsons earmarks P7-B capex for power projects
Davao City pushed as medical tourism hub
By MYRNA M. VELASCO, Contributor
DAVAO City -- The local government has pushed to develop the potential of the city as a medical tourism hub by building more specialized medical facilities like cancer centers and retirement villages. “The city provides incentives for these types of investments. Health and wellness facilities include hospitals, research and development facilities medical/PAGE 9
THE power business of the Alcantara Group will be cornering P7.0 billion in capital expenditures (capex), which is essentially the lion’s share of the P9.0billion spending that the conglomerate had earmarked
for all project this year. According to Alsons Consolidated Resources, Inc. (ACR) Chief Financial Officer Robert F. Yenko, the hefty portion of the capital outlay will be for unit 2 of alsons/PAGE 11
The organic rice farm project which was introduced by the 36th IB to the conflictstricken village of Lindoy in farms/PAGE 11
By ANTONIO L. COLINA IV, MindaNews
ENROLMENT. Students, mostly accompanied by their respective parents, cramp up as they enroll at Cagayan de Oro National High School for the incoming academic year which starts in June. photo by mark francisco
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