BusinessWeek Mindanao (May 2, 2014)

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BusinessWeek MINDANAO

YOUR LOCAL ONLINE BUSINESS PAPER

www.businessweekmindanao.com

Volume IV, No. 96

Market Indicators

As of 5:54 pm Apr. 29, 2014 (Tuesday)

FOREX

PHISIX

US$1 = P44.50

6,632.73 points

1 cent

X

28.38 points

X

Briefly Disaster summit PREPARATIONS are underway for the 1st provincial summit on Disaster Risk Reduction and Management (DRRM) in northern Mindanao. The purpose of the activity is to equip the local government units (LGUs) about the whole spectrum of DRRM, said Ana C. Cañeda, regional DRRM council (RDRRMC) chairperson and Office of Civil Defense (OCD) regional director. She further said the summit aims to enhance the DRRM capabilities of LGUs of the region especially in their management of disaster risk reduction and disaster operations capability. The summit is set on: May 5 to 6 for the province of Bukidnon; May 13-14, Misamis Occidental province and Cagayan de Oro City; May 27-28, Lanao del Norte and Iligan City; June 3-4 Misamis Oriental; and June 10-11 for Camiguin.

V

Friday | May 2, 2014

By CRIS DIAZ of Mindanao Daily News

ARIOUS areas in Cagayan De Oro City, the premier hub in Northern Mindanao, began plunging into four-hour darkness yesterday (May 1), local power officials said yesterday. darkness/PAGE 7

Socoteco 1 to buy more power from Therma South By MINDANEWS

GENER AL Santos Cit y - - D i s t r i but i on ut i l it y South Cotabato 1 Electric Cooperative (Socoteco I) will purchase additional power supplies by next year from Therma South Inc. (TSI) as it moves to address the worsening supply shortage in its service area. Santiago Tudio, Socoteco 1 general manager, said Wednesday they have forged a power sales agreement with

TSI for the streaming of 2 megawatts (MW) of power to the area from its coal-fired power plant based in Davao City starting March 2015. The electric cooperative signed the agreement with TSI and its mother firm Aboitiz Power Corp. (AboitizPower) in simple rites held in Koronadal City on Tuesday. The deal was signed by power/PAGE 7

Athletes practice paddling for the First Dragonboat Festival which started yesterday at Davao Baywalk in Davao City. mindanews photo courtesy of mike li / camera club of davao

Davao gears up for int’l trade fair, business gab THE City Government of Davao has declared October 20-26, 2014 a celebration week for BIMP-EAGA and IMT-GT as it plays host to an international trade fair and business leaders conference to be held at SM Lanang Premier’s SMX Convention Center. Dubbed as the 2nd BIMPEAGA & IMT-GT Trade

Dubai mission DIGOS City – Davao del Sur Governor Claude Bautista has hoped that his recent attendance to an investment meeting in Dubai would create positive impact to the economy of the country, particularly in the Province of Davao del Sur. Bautista was the first Philippine public official delegate to participate in the 4th Annual Investment Meeting (AIM) organized by the Ministry of Economy in Dubai of the United Arab Emirates (UAE) on April 9 this year. The Governor received great appreciation from the organizer for responding to the special invitation called by the Minister of Economy, His Excellency Sultan Bin Saeed Al Mansouri.

P15.00

CdO starts plunging into 4-hr darkness www.businessweekmindanao.com

Prof. Pauline Basilia of the University of the Philippines takes out a pail of dirt from the Spanish brick Bohol. mindanews photo by froilan gallardo

Fair and Business Leaders’ Conference, the event expects to draw around 800 business leaders, government officials, t r a d e r s , an d p ot e nt i a l investors from across five countries within ASEAN. More than 200 international exhibitors are also expected to participate in the trade fair. BIMP-EAGA stands for

Brunei Darussalam Indonesia Malaysia the Philippines East ASEAN Growth Area, while the IMT-GT stands for Indonesia Malaysia Thailand Growth Triangle. Both subregional groupings are among the most dynamic economic cooperation in ASEAN. “ The City of D avao welcomes this event as an fair/PAGE 7

Surigao folks blame mining firm for pollution of water sources By ROEL CATOTO, MindaNews

JUBGAN, San Francisco, Surigao del Norte – Mining activities by a firm that has reportedly no permit to operate have polluted the sources of potable water in this village, residents

told MindaNews over the weekend. Jubgan has at least 200 households, and they depend on the streams and river in their area for potable water. Romeo Gordonas, a local

resident said their water source would become murky with just a slight rain. He said that even if Mt. Patag, the area where Surimin operates, has not b een declared as a watershed it has been their source of water blame/PAGE 7

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