BusinessWeek MINDANAO CREDIBLE
Volume VII, No. 156
Market Indicators As of 5:10 pm May 30, 2017 (tuesday)
FOREX
PHISIX
US$1 = P49.800
7,860.77
X Briefly
3.9
25.26
cents
points
X
More investments METRO Pacific Investments Corp. (MPIC) is pushing through with a major investment in Mindanao despite escalating tension in line with the broader expansion of the infrastructure conglomerate’s operations. MPIC Chairman Manuel V. Pangilinan told reporters that while the clashes between the armed forces and members of an Islamist militant group is a “cause for concern,” the investment in Mindanao “will proceed.” “We need to understand the situation. We need to have faith in the country and the leadership as well,” Mr. Pangilinan said on the sidelines of MPIC’s stockholders’ meeting on Friday in Makati City.
More CebuPac routes THE Philippines’ leading airline, Cebu Pacific adds five new routes to its inter-regional network, connecting more islands from Mindanao to Visayas to the rest of the archipelago. The new routes stem from requests from stakeholders, particularly in Mindanao, to improve connectivity of key cities. Starting July 26, 2017, CEB wholly-owned subsidiary Cebgo will fly three times weekly (Monday, Wednesday, and Friday) between Cebu and Masbate, Davao and Dumaguete, and Zamboanga and Cotabato. Cebgo will also begin flying four times a week (Tuesday, Thursday, Saturday, and Saturday) between Cagayan de Oro and Zamboanga, and Davao and Tacloban on July 27, 2017. The new routes will be serviced by the Cebgo fleet of ATR aircraft.
Tax reform THE comprehensive tax reform program being counted on by the government to fund its ambitious infrastructure plan has made it to plenary debate at the House of Representatives. Ways and means committee chairman Rep. Dakila Carlo E. Cua endorsed the Committee Report No. 229 containing House Bill (HB) 5636 or the proposed Tax Reform for Acceleration and Inclusion during yesterday’s session presided by Deputy Speaker Romero Federico S. Quimbo. In his sponsorship speech, Mr. Cua pitched the salient features of the tax reform bill such as the lowering of personal income taxes and the revenue that will be generated from the package intended for social welfare and infrastructure programs of the administration.
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By MARK FRANCISCO, Staff Writer
E
VEN the country’s economic managers have expressed concerns over the brewing skirmishes in Marawi City saying the ongoing unrest is a “serious crisis” that could have adverse impact on the economy. Socio-economic Planning Secretary and NEDA chief Ernesto M. Pernia said that although the country’s economic fundamentals remain strong and resilient, the crisis may drag down the gains that the country had lately achieved. He said that its impact its impact on the economy would largely depend on how crisis/PAGE 11 GHOST CITY. Troops from the Philippine Marines take position as government forces continue to battle local terror group Maute in Marawi City, as residents left their houses making the city a virtual “ghost town.” photo by gerry lee gorit
Marawi City fighting displaces 14,353 families, says NDRRMC
RELIEF GOODS. Xavier University volunteers are busy repacking food packs to be distributed to Marawi City evacuees. photo by mark francisco
Oro youth rolls out waste segregation campaign at the barangay level
HEAVY fighting between government security forces and the Maute Group in Marawi City has so far displaced a total of 14, 353 families or around 70, 953 persons in Region 10 and the Autonomous Region in Muslim Mindanao (ARMM) as of May 29, National Disaster Risk Reduction and Management Council
This early, around 60 volunteers from barangays L apasan and Patag are already mapping several projects for their one-year calendar in relation to Solid Waste Management Act implementation in their respective villages, mostly educational drives. The youth will be assisted by an organization aptly called campaign/PAGE 11
Jalad also reported that eight houses were burned in Marawi City since skirmishes started on May 23. The series of encounters with the terrorists stemmed from militar y efforts to apprehend Abu Sayyaf leader Isnilon Hapilon, a known ally of the lawless group, in Marawi City. marawi/PAGE 11
Family of Maute hostage hopeful for safe release
By MARK FRANCISCO, Staff Writer
THE youth in Cagayan de Oro will assist the government in the strict implementation of the Solid Waste Management Act at the barangay level. But for now, the project initiated by the City Local Environment and Natural Resources Office (CLENRO) and a local non-government organization (NGO) will be pilot-tested in two barangays for a year.
(NDRRMC) Executive Dire c tor Ricardo Jalad reported to Defense Secretary Delfin Lorenzana. Of these, some 2, 318 fami lies or 10,778 individuals are now staying in 20 evacuation centers while the remaining 12, 035 families or 60, 175 persons are with their relatives and friends.
By CHRIS V. PANGANIBAN, Contributing Editor
Picture of the kidnap victim Archilly Abao posted on Facebook by her sister Malou to appeal for help for her safe release.
SAN FRANCISCO, Agusan del Sur -- The family of a school staff who were among those abducted by Maute terrorist group in the Marawi siege is still hoping for her safe release seven days after their captivity. Malou Abao, younger sister of kidnap victim Archilly Abao who works as a staff of a principal of
Dansalan College Foundation, said her mother Cecillia Abao Caldeo and the rest of family members , even though they were worried and sleepless, are hopeful with the divine intervention for her freedom soon. “God will deliver her from harm because she is righteous and we have strong faith with hostage/PAGE 11
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