BusinessWeek MINDANAO “We Grow Minds”
2013 ppi’S Best in Business and Economic Reporting
Volume V, No. 177
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Market Indicators
As of 6:20 pm may 27, 2015 (wednesday)
FOREX
PHISIX
US$1 = P44.58
7,505.03
11
X Briefly
cents
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93.67 points
Growth plummets THE Philippine economy slowed sharply in the first quarter of the year on the back of weak consumer spending and services. In a report, the Philippine Statistics Authority (PSA) said the country’s gross domestic product grew by 5.2 percent in the January to March period, slowing from 5.6 percent in the same three months of the previous year and the 6.6 percent in the fourth quarter of 2014. GDP is the amount of final goods and services produced in the country, and as such measures economic performance. Services, which comprised over half of GDP, slowed to 5.6 percent this year from 6.8 percent last year. Industry and agriculture grew faster year-on-year, but failed to offset the slack in services
www.businessweekmindanao.com
Friday | May 29, 2015
Rodriguez’ sponsorship speech reset for Monday T
DAVAO City – Davao Light and Power Co. (DLPC) announced that the rotating power interruptions has been increased from one hour up to a maximum of one hour and 30 minutes starting Tuesday. DLPC said there is “much lower power supply coming from the Mindanao Grid.” “Just this morning, the National Grid Corporation of the Philippines (NGCP) advised that there is a further reduction of the capability of the National Power Corporation’s (NPC) Agus and Pulangi hydro-electric power plants,” DLPC said in a statement adding that water elevation due to dry spell has forced NPC to decrease its supply. “As of today, NPC through NGCP only allocated about 194 MW to Davao Light from last week’s allocation of about 241 MW of power. This is way lower than the Davao Light’s contracted supply with NPC of 279 MW,” DLPC said in a statement.
By CAROLYN O. ARGUILLAS, MindaNews
HE chair of the Ad Hoc Committee on the Bangsamoro Basic L aw (AHCBBL) was supposed to deliver his sponsorship speech Wednesday afternoon on what his committee now refers to as the “Basic Law of the Bangsamoro Autonomous Region” but it was reset for Monday, June 1, the same day the plenary debates begin.
“The sponsorship and plenary debates have been moved to Monday (June 1), upon the request of some
representatives to have more time to study the substitute bill,” Cagayan de Oro Rep. speech/PAGE 11
1ST BPI SINAG KICKS OFF:
BPI launches campaign to empower entrepreneurs SURFING. A father and son surf through the calm Cagayan de Oro River on Sunday to cool off the seemingly hotter summer this year. The El Niño phenomenon continues to wreak havoc in the provinces of Misamis Oriental, Bukidnon, and Lanao del Norte destroying hundreds of million worth of agriculture products, the Department of Agriculture (DA) reported. photo by gerry lee gorit
Rotating brownout
P15.00
By MARK FRANCISCO and ERCEL MAANDIG, Staff Writers
THE Bank of the Philippine Islands Foundation, Inc., in partnership with Ateneo Center for Social
Oceana teams up with PPI for fisheries media training ATTY. Gloria Estenzo Ramos, Vice President of Oceana Philippines, signs the partnership agreement with Atty. Jesus Dureza, Chairman of the Philippine Press Institute, for a series of media workshops on fisheries reporting across the country. The agreement was signed last May 15, 2015, during the annual National Press Forum of PPI. The workshops are
aimed at helping improve news reportage on the state of our oceans, fisheries, and marine conservation, in order to raise public awareness and citizen participation about these issues. The partnership also establishes a journalism award for fisheries reporting, as a way of recognizing local newspapers that are making a positive impact in their communities.
Get your BWM Loyalty Card NOW at any of our participating establishments for ONLY P350.00, and avail DISCOUNTS.
Oceana Philippines
Entrepreneurship, launched yesterday the first BPI Sinag, a business plan competition bpi/PAGE 11
Alsons to beef up renewable energy source in M’danao
TO b e e f up it s p owe r generating capacity through renewable energy sources, Alsons Consolidated Resources Inc. (ACRI) is planning to build a solar power generating facility in Mindanao. In a press statement, Alsons chairman and president Tomas Alcantara said that the facility may be built in a company owned property in General Santos City. “There is that opportunity we really want to confirm that possibility and we have the land,” he told reporters. Alcantara said joining the renewable energy bandwagon is an option since there is big potential for that segment. “We are looking at solar as another segment in the power industry that we could enter,” he said. alsons/PAGE 11
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