BusinessWeek Mindanao (October 18, 2017)

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BusinessWeek MINDANAO CREDIBLE

Volume VIII, No. 57

YOUR Mindanao-wide BUSINESS paper

RELIABLE

www.businessweekmindanao.com

IN-DEPTH

P15.00

Wednesday | October 18, 2017

Market Indicators

As of 6:00 pm October 17, 2017 (tuesday)

FOREX

PHISIX

US$1 = P51.293

8,497.74

X X Briefly

18.9

49.8

cents

points

LNG hub

SURIGAO City -- The Department of Energy (DOE) announced plans to develop the domestic natural gas industry, and eventually transform the Philippines as the liquefied natural gas (LNG) trading and trans-shipment hub in the AsiaPacific Region. According to Energy Secretary Alfonso G. Cusi, the DOE is “already preparing the necessary policies as we approach the depletion of indigenous natural gas supply from Malampaya by 2024.” “By diversifying our energy mix through LNG, we are ensuring a secure and stable supp l y o f e ner gy. Thi s i s a priority,” Cusi pointed out.

Philippine eagle DAVAO City – Sending selected Philippine Eagles to overseas wildlife centers is a necessity to conserve the species, says the Philippine Eagle Foundation (PEF). “It is sort of an insurance if something happens to our eagles here,” Dennis Salvador, PEF President said. Salvador said that having Philippine Eagles in facilities abroad is part of risk management measures in case of an Avian Flu outbreak in the country. “Bird Flu has been happening in the region; Philippines used to be unaffected until recently,” Salvador said.

Unliquidated figures THE city’s own social welfare department will reconcile its unliquidated figures of downloads from the Department of Social W elfa re a n d D evel opm ent’ s (DSWD) supplemental feeding program. This, after the CSWD led by Early Child Care Development (ECCD) program coordinator Anecia Tongson disputed the DSWD report alleging that the city government has an unliquidated balance of P16,938,610 from the supplemental feeding program as of September, putting the city as number five in the Department’s so-called “shame” list. Tongson told the City Council committee on social services, which heard the matter last Friday, that DSWD was “misinformed” about the actual amount of the unliquidated balance. M. FRANCISCO

DELAYED REPAIR. A backhoe (left photo) works on the cofferdam on the Cagayan River on Saturday, Oct. 14, which will enable Rio Verde engineers to fix the underwater pipeline damaged by quakes and river debris. However, heavy rains on Monday hampered the repair works (right photo). photos provided

Water pipes repair hampered by rain Oro businessmen declare 15% loses due to Monday’s transport strike

By MIKE BAÑOS Editor-at-Large

C

AG AYA N de Oro bulk water supplier Rio Verde Water Consortium, Inc. said repair and rehabilitation works of its main 650mm underwater pipeline across the Cagayan River would be further delayed for another week as a result of heavy rains over the weekend.

R i o Ve rd e f or m a l l y informed the COWD Engineering Division early Tuesday morning (Oct 17) repair/PAGE 11

Sandigan clears ex-CDO mayor By JIGGER JERUSALEM, PNA

THE Sandiganbayan has absolved former city mayor Vicente Emano over illegal acts by demoting an administrative officer into a security guard, a legal counsel said. Lawyer Francis Khu said clears/PAGE 11

By MARK FRANCISCO Staff Writer

LANTERNS. An inmate works on a lantern at the Misamis Oriental Provincial Jail which is part of their income generating project while serving their terms. A finished product would cost ranging from P250 to P1,600 depending on the size. photo by gerry lee gorit

Oro Chamber, the largest group of small and medium enterprises (SMEs) in the region, reported a 15 percent loss of revenue during the whole-day transport strike last Monday. Oro Chamber president Robertino Pizarro said that the bulk of the loss came from retail outlets such as groceries, department stores and shopping malls. Pizarro added that the President Duter te’s declaration of a holiday in loses/PAGE 11

Bukidnon peasants to gov’t: ‘Give us land’ By GERRY LEE GORIT, Reporter

ABOUT a hundred farmers from Bukidnon are demanding from the government to consider their petition and distribute about 517 hectares of land located inside the Central Mindanao University (CMU) campus in Barangay

D o l o g on , Mar am a g , Bukidnon as they staged a protest action outside the Department of Agrarian Reform central office in Manila. Three farmer groups consisting of more than 500 members, more commonly

known as Buffalo-TamarawLimus (BTL), are petitioners of the 517-hectare land located within the compound of the Central Mindanao University (CMU) in Barangay Dologon, Maramag, Bukidnon. Winnie Loable, BTL chairman, said there is no reason for CMU not to award the contested land to them

since the school has not been using it. “It has been idle for quite some time now. In fact, its other land holdings were being leased out to various firms,” Loable said in a phone interview Friday. He said the about 500 hectares of land are being land/PAGE 11

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


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