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Volume VII, No. 058
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IN-DEPTH
Monday | October 17, 2016
Groups call end X X Briefly of ‘labor pool’
Market Indicators
As of 6:20 pm october 14, 2016 (friday)
FOREX
PHISIX
US$1 = P48.341
7,389.30
13.2
77.12
cents
points
No wage hike
THE government has rejected the proposed P125 nationwide increase in minimum wage, the National Economic and Development Authority (NEDA) said on Friday. Socioeconomic Planning Secretary and NEDA DirectorGeneral Ernesto M. Pernia said that an across-the-board increase in wages would result in job cuts particularly in the micro, small and medium enterprises (MSMEs) sector. “First of all, different regions have different conditions, different inflation or cost of living conditions so you cannot just enforce a uniform increase across all regions and it’s going to be bad for economy,” Pernia said. “The NEDA has done some impact analysis and its going to affect employment because with higher wages, many firms would not be able to afford to keep their workers or hire workers especially MSMEs,” he added.
US investments THE government is in talks with five or six US groups interested to invest as much as $1 billion in Mindanao, particularly in the area of environmental development within the region. Environment Undersecretary Jonas Leones said the Department of Environment and Natural Resources (DENR) is now identifying specific areas in Mindanao where these foreign groups can put their money into. This developed after Environment Secretary Gina Lopez was able to convince these investors to consider investing in Mindanao during her visit in New York last month, Lopez specifically attended private sessions with investors on the sidelines of United Nations (UN) assembly.
C
By MARK D. FRANCISCO, Staff Writer
HURCH and labor leaders in Cagayan de Oro jointly called
on to end the practice of businesses in utilizing thirdparty manpower agencies
in their operations. The local chapter of the Iglesia Filipina Independiente made the call during the pool/PAGE 11 HOT ITEMS. Despite the ban, some badjaos sell earrings and bracelets made of m a r i n e products, mostly pearls and corrals, ranging from P300 to P1,800 per piece in Patulangon, Sta. Cruz, Davao del Sur. PHOTO BY GERRY LEE GORIT
DND gets P987-M for transfer of 15th Strike Wing to CDO By MARK D. FRANCISCO, Staff Writer
DESPITE President Duterte’s anti-American stance, the Department of National
Defense (DND) is pushing for the use of the 80-hectare former Lumbia airport as
new headquarters of the Philippine Air Force’s (PAF) 15th Strike Wing. It c a n b e r e c a l l e d transfer/PAGE 11
LTFRB-10 starts tagging of Oro taxis By GERRY LEE GORIT, Reporter
THE Land Transportation Franchising and Regulatory Board in Northern Mindanao (LTFRB-10) has vowed to eliminate “colorum” public utility vehicles (PUVs), especially taxis, or those operating without franchise permits as it introduced a new system to achieve this goal. Starting last week, LTFRB-10 began tagging taxis with yellow stickers equipped with a security feature in the form of a bar code. ltfrb/PAGE 11
GETTING RID OF ‘COLORUMS’. Land Transportation Franchising and Regulatory Board-10 (LTFRB-10) acting regional director Aminoden Guro tags a taxi with a yellow sticker as a means to rid Cagayan de Oro of ‘colorum’ public utility vehicles. PHOTO BY GERRY LEE GORIT
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