BusinessWeek Mindanao (November 3-4, 2021)

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BusinessWeek M I N DA N A O CREDIBLE

Volume XII, No. 62

Market Indicators

AS OF 6:00 PM NOVEMBER 2, 2021 (TUESDAY)

FOREX US$1 = P 50.39

PHISIX 7,106.01

X X Briefly

0.20

51.31

cents

points

Fuel subsidy GENERAL Santos City – Public transport operators and drivers here lauded on Friday the national government’s move to provide them with fuel subsidies amid the increasing prices of petroleum products. Orly Sabelita, chairperson of GenSan Transport workers Alliance (GTA), said the subsidy will give them much-needed relief from the series of fuel price increases in the past several weeks that caused regular and premium gasoline prices to soar to as high as P65 per liter. He said they are currently working with the Land Transportation Franchising and Regulatory Board (LTFRB) for the availment of the subsidy.

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BIMP-Eaga gets renewed support for sub-regl'devt A

Vax for minors THE local government here on Friday has rolled out its "pediatric vaccination" drive against the coronavirus disease 2019 (Covid-19) for minors aged 12 to 17. The ceremonial inoculation saw the initial batch of youth, accompanied by their parents and guardians, getting vaccinated at the city-run JR Borja General Hospital. Merlyn Uy, the mother of 16-year-old Gabby, said in a video streamed online that she encouraged fellow parents to get their children vaccinated so they could get protection from the Sars-Cov-2 virus, which causes the Covid-19.

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SIAN Development Bank (ADB) President Masatsugu Asakawa has reaffirmed A D B’s s u p p o r t f o r a rapid economic recovery, infrastructure development, and regional cooperation at the 14th Brunei Darussalam– Indonesia–Malaysia– Philippines East Asean Growth Area (BIMP–EAGA) Leaders’ Summit.

Ports upgrades DAVAO Ciry — Port development in Mindanao will stimulate the logistics industry and position the southern island as a viable hub for imports that will then be transshipped south to north as an alternative to importing through Manila, a Mindanao business leader said. Ricardo F. Lagdameo, chairman of this year’s Davao Investment Conference (ICon 2021), said it is cheaper to import through Mindanao and from there distribute goods to the rest of the country, compared to landing the imports in Manila, which suffers from congestion. Additionally, shipping rates are more expensive going south. “I would encourage importers to look at the reverse and we do have several of them that are doing that already. We have less congestion, domestic shipping is cheaper going the other way around,” Mr. Lagdameo, president of Davao-based Damosa Land, Inc., said on Oct. 27 during the third in a series of webinars leading up to the investment conference on Nov. 11-12.

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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

RESPITE FROM COVID. Youngsters spend All Souls’ Day (2 November 2021) skateboarding around the capitol grounds in Malaybalay City. mindanews photo by h . marcos c . mordeno

The summit was attended by Brunei Darussalam Sultan Haji Hassanal Bolkiah, Indonesia President Joko Widodo, Malaysian Prime Minister Ismail Sabri Yaakob, and Philippine President Rodrigo Roa Duterte. “ADB is honored to serve as BIMP– EAGA’s regional development advisor. We know that when adversity strikes, coordinated action will help your countries endure the crisis and build SUPPORT/PAGE 7

Zambo mayor set to talk with Resumption of DOE over higher fuel prices 24-hour bus operations By FRENCIE CARREON, MindaNews

in Davao pushed

ZAMBOANGA City – Mayor Maria Isabelle Climaco and a designated official of the Department of Energy (DOE) are set to meet at City Hall today to discuss the unusually higher pump prices of fuel in the city. This marks the first discussion with the DOE on the matter following Climaco’s call for the agency’s intervention to lower fuel

prices to help the people of Zamboanga. While petroleum prices have been rising all over the world the past few months, Zamboanga City’s average fuel prices are higher than most cities in Mindanao by four to seven pesos per liter, according to the DOE’s weekly posts on comparative fuel pump prices in the island. Energy Secretary

Alfonso Cusi on October 22 designated lawyer Rino Abad, director of the DOE’s Oil Industry Management Bureau, to “look into the matter” as his response to Climaco’s complaint letter on the relatively high prices of fuel from gas stations in the city. Climaco on Monday personally did the rounds in the city’s different gas stations, asking personnel FUEL/PAGE 7

L E G I S L AT O R S i n t h e Lower House are seeking to investigate the process of right-of-way acquisition from private landowners for the China-funded Mindanao Railway project. In a joint resolution filed Friday, ACT-CIS Rep. Eric G. Yap and Davao Rep. Paolo Z. Duterte filed House Resolution 2321 calling for the appropriate House committees to investigate the matter, claiming disparities between the market value of

the land and the offers made. “Among the properties covered include those located in Barangays New Visayas and Datu Abdul Dadia, both in Panabo City, among others,” according to the resolution. T h e D e p a r t m e nt of Tr ansp or t at i on ( D o Tr ) earlier rejected a request by landowners and businesses in Toril, Davao City to relocate a Mindanao Railway facility due to concerns about the impact on land values. PROBE/PAGE 7

IP MONTH. Leaders from the Bukidnon, Umayamnon and Talaandig tribes hold a ritual on Sunday in Malaybalay City to mark the end of the Indigenous Peoples Month celebration. They also tackled how to address government shortcomings in promoting their rights to self-governance and cultural integrity. mindanews photo by h . marcos c . mordeno

House probe sought on land acquisition for railway project

By ANTONIO L. COLINA IV, MindaNews

DAVAO City – The Land Transportation Franchising a n d R e g u l at or y B o a rd (LTFRB)-Davao is planning to resume the 24-hour bus operations at the Davao City Overland Transportation Terminal (DCOTT). DCOTT manager Aisa Us op tol d D av a o C it y Disaster R adio (D CDR

87.5) on Tuesday that this plan came after some bus operators requested for a 24-hour operation of buses to and from this city. This af ter t he lo c a l government lifted the 9 p.m.to-4 a.m. curfew and 24/7 liquor ban effective October 26 until January 15, 2022 BUS/PAGE 7

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