BusinessWeek M I N DA N A O CREDIBLE
Volume XII, No. 54
Market Indicators
AS OF 6:00 PM OCTOBER 14, 2021 (THURSDAY)
FOREX US$1 = P 50.605
0.5
PHISIX 7,183.11
X X Briefly
cents
114.19 points
Hog raisers aid HOG RAISERS said the industry cannot withstand the volume of pork imports due to arrive based on the volume of approved import clearances. Pork Producers Federation of the Philippines, Inc. President Rolando E. Tambago said the volume of future imports, as indicated by the approved sanitary and phytosanitary import clearances (SPSICs) in the eight months to August, are “too much for the hog industry to take.” According to the Bureau of Animal Industry, pork imports with approved SPSICs amounted to 837,955.34 metric tons (MT) as of Aug. 31, from 276,424.23 MT a year earlier.
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N executive of the biggest mall chain in Davao has urged businesses to establish their presence in Mindanao to tap the huge opportunities in the southern part of the country.
MODERNIZED PUVs. Melvin Erederos (right), BUKTRAMCO sub-chairman for Cagayan de Oro, during the blessing of its modernized PUVs, 19 for the Bukidnon route and 18 for CDO route, in Barangay Bugo yesterday. photo by gerry lee gorit
Climate mitigation THE ASIAN Development Bank (ADB) said it has funded $31.5 billion worth of climate mitigation projects since 2011, accounting for 78% of its climate-related financing. “Mitigation finance is dominated by the energy sector (60%), although there has been a recent significant upward trend in the transport sector,” the bank’s Independent Evaluation Board said in a review posted on its website Monday. Funding for adaptation projects, on the other hand, hit $8.7 billion 22%. The bank’s evaluation covered 688 projects approved between 2011 and 2020.
Smuggled cigars ZAMBOANGA City – Policemen and Bureau of Customs (BOC) operatives here seized some P4.7 million worth of smuggled cigarettes and arrested eight suspects, a top police official announced Saturday. Col. Rexmel Reyes, Zamboanga City Police Office (ZCPO), said the 2nd City Mobile Force Company and BOC operatives were on seaborne patrol when they intercepted two motorboats around 1 p.m. Friday near Manalipa Island, east of this city. Reyes said the motorboats, locally known as jungkong, were found to be loaded with 137 master cases of assorted smuggled cigarettes worth P4,795,000.
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In a webinar on Davao Investment Conference (ICon) 2021 Wednesday, NCC Group of Companies president and chief executive officer Lafayette Lim said Mindanao, particularly the Davao region, is now a big catalyst for growth for the Philippines. “Davao 20 years ago is so much different from Davao today,” he said. CATALYST/PAGE 10
Oro mayor thumbs down reopening of tourist spots, other businesses amid GCQ By FROILAN GALLARDO, MindaNews
CAGAYAN de Oro City Mayor Oscar Moreno thumbed down a proposed ordinance that sought to reopen spas, staycations and other indoor tourist attractions, as the Inter-Agency Task Force for the Management of Emerging Infectious Diseases extended the General Community Quarantine (GCQ) with heightened restrictions for the city until October 31. Moreno vetoed Resolution 2021-205 hours before the National IATF set the new quarantine levels across the country. The resolution, passed l a s t we e k by t h e C it y Council, sought to reopen internet cafes, sports centers, g ymnasiums, massage
parlors or spas, indoor facilities and entertainment establishments, white rafting and other tourism-related activities. These establishments have been reeling from heavy financial losses ever since the imposition of quarantine measures in March 2020. Moreno, however, said reopening these businesses should proceed with caution despite the decrease in coronavirus infections in the city in the past two weeks. The City Health Office registered a single case of COVID-19 infection on October 11, the lowest since the outbreak of triple-digit infections last September. GCQ/PAGE 10
OIL CARTEL? Fuel prices in Zamboanga City as of 12 October 2021. mindanews photo by frencie carreon
Zambo bizmen suspect cartel behind oil price hike, call for investigation By FRENCIE CARREON, MindaNews
Z A M B OA N G A C i t y – Businessmen in this city are suspecting that a cartel is behind the “constant price increase of fuel” in the past weeks and the “u n c o n s c i o n a b l y h i g h
fuel pump prices” even as petroleum prices soared all over the world because of short supply and high demand. Pedro Rufo S oliven, president of the Zamboanga
City Chamber of Commerce and Industry Foundation, Inc. (ZCCCIFI), said that the oil price increase and the high pump prices locally “need to be investigated” as a chamber resolution said the latter was “tantamount to … economic SUSPECT/PAGE 10
THREE Mindanao-based Ateneo schools on Wednesday urged the Commission on Elections (Comelec) to open more satellite registration centers for voters who have yet to register as the October 30 deadline nears. In a joint statement
released Wednesday, the Mi n d an a o C ons or t iu m o f At e n e o s ( M C A ) – composed of Ateneo de Davao University, Ateneo de Zamboanga University, and Xavier University-Ateneo de Cagayan – said they were willing to offer their campuses
as voter registration sites for registrants who can no longer be accommodated by Comelec, which has reportedly limited its daily registration quota to only 150 to 300 persons. Fr. Joel Tabora, Ateneo SITES/PAGE 10
Mindanao Ateneo schools offer campuses as registration sites
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