BusinessWeek Mindanao (May 31 - June 1, 2021)

Page 1

BusinessWeek M I N DA N A O CREDIBLE

Volume XI, No. 148

Market Indicators

AS OF 6:00 PM MAY 29, 2021 (SATURDAY)

FOREX

PHISIX

US$1 = P 47.8

6,674.51

X X Briefly

0.18

9.37

cents

points

Rice tariff DEPARTMENT of Trade and Industry (DTI) Secretary Ramon Lopez on Friday clarified that the lowering of tariff for imported rice is not an outcome of trade agreement discussions but only to diversify the sourcing of the staple. “The tariff adjustment was not due to any trade agreement discussion. It was mainly due to rising prices of rice from major import source like Vietnam and Thailand which are Asean countries and which have 35 percent tariff rates,” Lopez said in a statement. He added that sourcing outside Asean member states will secure sufficient rice inventory and ensure low and stable price of rice.

IT upskilling Authorities from the government and the private sector are one in citing the importance of upskilling people’s technological expertise to make Filipino firms become globally competitive in the present times. During the virtual groundbreaking ceremony for the Union Bank of the Philippines (Unionbank) innovation campus on Wednesday, Unionbank chief information officer Dennis Omila said the country has what it takes to be an artificial intelligence (AI) hub. Omila said a lot of major software developments are being sourced from the Philippines, which can be attributed to Filipinos’ creativity, ingenuity, and high information technology (IT) skills.

We strive for Excellence!

Philippine Press Institute Civic Journalism Community Press awardee for the following: 2013 Best in Business and Economic Reporting 2014 Best in Environmental Reporting 2017 Best in Business and Economic Reporting 2018 Best in Business and Economic Reporting

YOUR MINDANAO-WIDE BUSINESS PAPER

RELIABLE

www.businessweekmindanao.com

IN-DEPTH

Mon-Tue|May 31-June 1, 2021

P15.00

Piñol nixes planned sale of Agus-Pulangi plants Thank you for trusting us!

* allays fear divesting the power complex could push rates upward

T

By MIKE BANOS, Editor-at-Large

HE Agus-Pulangi Hydroelectric Complex is best left in government hands rather than sold to private investors.

This was emphatically stressed by Secretar y Emmanuel F. Piñol., chairman of the Mindanao Development Authority (MinDA) during the recent virtual Mindanao Power Forum 2021 held on May 25, 2021.

“I fully support the previous policy recommendation of MinDA for APHEC (Agus Pulangi Hydroelectric Complex) to remain under the ownership and control of government. NIXES/PAGE 10

CDO hands over P6.9-M aid to ASF-hit hog raisers THE CAGAYAN de Oro city government distributed Friday some P6.9 million worth of cash assistance to the hog raisers affected by African swine fever (ASF). Dr. Lucien Anthony Acac, City Veterinary Office (CVO) chief, said the indemnification consists of PHP5,000 per head from the Department of

Agriculture (DA) and P2,000 from the local government. Acac said a total of 1,054 hog raisers have been affected by ASF from 34 villages as of May. Dr. Julesben Maquiling, DA-10 resident veterinarian, said the agency will be releasing another P10 million AID/PAGE 11

MOTOCROSS. A rider performs a stunt during a practice at the motocross track in Barangay Rizal in Surigao City on Thursday, May 27. mindanews photo

Peace advocates press Congress anew to pass Bangsamoro extension bill By BONG S. SARMIENTO, MindaNews

SECOND DOSE. A senior citizen gets her second dose of Sinovac vaccine against COVID-19 in Cagayan de Oro City on Friday, 28 May 2021. mindanews photo by froilan gallardo

KORONADAL City– Peace advocates on Thursday called on the Philippine Congress anew to pass a law extending the transition period in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) for another three years, fearing a failure might

lead to the eruption of violence in Moro areas in the south. This developed as President Rodrigo Duterte has yet to respond to the petition of at least one million individuals, which BILL/PAGE 9

Editorial and advertising email : businessweekmindanao@gmail.com • Cell Number : 0917-7121424 • 0947-8935776


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.