BusinessWeek Mindanao (November 28, 2016)

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BusinessWeek MINDANAO CREDIBLE

Volume VII, No. 078

YOUR Mindanao-wide BUSINESS paper

RELIABLE

www.businessweekmindanao.com

IN-DEPTH

P15.00

Monday | November 28, 2016

Senate body to clarify tax X X Briefly exemption to power coops

Market Indicators

As of 6:34 pm November 25, 2016 (friday)

FOREX

PHISIX

US$1 = P49.923

6,889.78

4.5

cents

16.47 points

Bagwis awards

MALAYBALAY City — Five business establishments in Bukidnon won the Department of Trade and Industry’s 2016 Bagwis Seal of Excellence Award for the firms’ compliance to fair trade laws and upholding consumers’ rights. DTI Bukidnon Provincial Director Ermedio J. Abang, said there were four awardees in Valencia City and one in Maramag town, this province. He said the five establishments honored during the recent awards rites at Mallberry Business Suites in Cagayan de Oro City are Puregold Valencia, D7 Gifts Store Corporation, TH Valencia, NVM Marketing Corporation, and Maramag Grocers. Puregold Valencia, D7 Gifts Store Corporation and TH Valencia received the “Bagwis Bronze Award,” while NVM Marketing Corporation and Maramag Grocers were conferred the “Pioneering DTI Bagwis Award,” Abang said.

Strike withdrawn NON-teaching staff of the Jesuitrun Xavier University (XU) here has withdrawn the notice of strike after university officials promised to pay the Christmas gifts of the workers. In a statement Friday, Fr. Roberto C. Yap, S.J. President of Xavier University, said that during the conciliation conference, the university officials agreed to pay each employee a P2,700 Christmas cash gift for 2016 and P1,800 in 2017. He said that both parties also agreed that the sources of the Christmas cash gift should be left to the sole discretion of the XU President, subject to the condition that would not diminish the existing Collective Bargaining Agreement.

T

By MARK D. FRANCISCO, Staff Writer

HE Senate’s Energy Committee will look into the confusion in the granting of tax exemptions to electric cooperatives which has resulted to lengthy legal battles at the detriment of power consumers. Speaking during the very first assembly of the Association of Mindanao Electric C ooperatives (AMRECO) over the weekend, Energy Committee chair Sen. Sherwin T. Gatchalian said

the committee is endorsing a proposed legislation that would clear the matter. Gatchalian expressed his disillusion over various charges filed against several tax/PAGE 11

Power coops in Mindanao endorse federal gov’t By JIGGER J. JERUSALEM, PNA

NEW BALLGAME. A boardless ballgame similar to basketball has become the latest craze particularly near the Capitol ground in Cagayan de Oro where games are held almost daily. PHOTO BY GERRY LEE GORIT

Nene says GM crops worth exploring, but envi group says they expose us to greater risks By ANTONIO L. COLINA IV, MindaNews

A former senator, who is well regarded as the champion of biotechnology, said that

the opportunities presented by the genetically modified (GM) crops are wor t h

THE Association of Mindanao Rural Electric Cooperatives, Inc. (AMRECO) has adopted a resolution endorsing the adoption of the federal system of government, an AMRECO official said Friday. “Federalism is a proactive approach that as early as today, we need to start discussing

with our very own great leaders from Mindanao the issue at hand,” Sergio Dagooc, the AMERCO president said. Federalism and its impact to the power industry players and stakeholders in Mindanao was one of the main agenda during the two-day first endorse/PAGE 11

exploring. Former senator Aquilino “Nene” Q. Pimentel Jr., during the opening day of the 12th risks/PAGE 11

Duterte admin has the right ‘chemistry’ to attract investors in Mindanao: Tugade By ANTONIO L. COLINA IV, MindaNews

DAVAO City – Transportation Secretary Arthur Tugade said that the administration of

President Rodrigo R. Duterte has the right “chemistry” to lure investors in Mindanao.

In an interview at the Waterfront Insular here Thursday afternoon, he said that he is optimistic that attract/PAGE 10

SANTA’S CAP. A standee of President Rodrigo Duterte wearing Santa’s cap beside a Christmas tree greets visitors in a downtown hotel in Davao City. MindaNews photo by Carolyn O. Arguillas

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