BusinessWeek M I N DA N A O CREDIBLE
Volume XII, No. 56
Market Indicators
AS OF 6:00 PM OCTOBER 19, 2021 (TUESDAY)
FOREX
PHISIX
US$1 = P 50.72
7,266.31
X X Briefly
0.12
46.50
cents
points
Loans for bonus LOANS that will help small enterprises make payroll for 13th month salaries will now be available only to micro enterprises due to lack of funds, according to the Department of Labor and Employment (DoLE). In a briefing Monday, Labor Secretary Silvestre H. Bello III said the eligibility cutoff is “those with a maximum of 10 workers” who are still struggling financially due to the pandemic in order to qualify for soft loans from the Small Business Corp. (SB Corp.), an arm of the Department of Trade and Industry (DTI). The initial plan of the DTI, DoLE, Finance Department, and the Employers Confederation of the Philippines was to provide soft loans to micro and small enterprises, but Mr. Bello said SB Corp. can only cater to micro businesses due to its budget of P200 million.
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Supply expansion THE Philippines will require investment of P5.76 trillion to expand the power supply and allow renewables to make up a larger part of the power mix by 2040, according to the Department of Energy (DoE). Most of the investment should go to renewable energy (RE) generating facilities, the department said in its latest Philippine Energy Plan (PEP) posted on its website. The updated plan, which covers the years 2020 to 2040, said the total investment cost will help the Philippines reach its targets under the “clean energy scenario” (CES).
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Camiguin tourism revival a boost to PH recovery M www.businessweekmindanao.com
Wed-Thu|October 20-21, 2021
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By ERCEL MAANDIG, Reporter
AMBAJAO, Camiguin – The reopening of tourist sites in this island province will not only help the local economy but also contribute to the national government's recovery, the governor here said Monday.
During a speech, Camiguin Gov. Jurdin Jesus Romualdo said to achieve this goal, tourism workers must be protected first by inoculating them with coronavirus disease 2019 (Covid-19) vaccines before the island's reopening to tourists on October 25. "We need to open because we don't want to be a burden to the national government, which is dealing with many borrowings (loans)," he said. TOURISM/PAGE 11
CLEANUP. A staff in one of the hotel resorts in Mambajao, Camiguin cleans the swimming pool on Monday, Oct. 18, ahead of their reopening on October 25. The provincial government has already requested, through the Department of Tourism, more Covid-19 vaccines to inoculate tourism workers in the island province. pna photo by nef luczon
100K Maranaos excited to return to their homes at MAA
Housing for evacues MARAWI City – For more than four years, Norhaima Ditucalan's family was at her grandparents’ house in Ditsaan Ramain, Lanao del Sur, some 10 kilometers away from Marawi City where they lived for decades. Ditucalan used to live with her three other siblings and their families at a three-story house in Barangay Datu Naga inside the most affected area (MAA) of the 2017 siege. Their source of income was a small store on the ground floor.
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MARAWI City – After President Rodrigo Duterte's visit to Marawi City on Saturday, affected residents of the siege four years ago are hoping they will be able to return to the Most Affected Area (MAA). In an interview Sunday, Moro Consensus Group chair Drieza Lininding said
there are still about 100,000 residents who are eager to return to their properties at MAA, where most projects are being developed through Task Force Bangon Marawi (TFBM). "Af te r re si d e nt s are returned (to their places in MAA) after four years EXCITED/PAGE 11
Alsons' new hydro plant sets operation next year CLEAR WATERS. Local tourists have fun in the crystal clear waters of a beach resort in Glan, along Sarangani Bay. mindanews photo by bong s . sarmiento
Pacquiao slams PhilHealth’s delayed payments to hospitals By FRENCIE CARREON, MindaNews
ZAMB OANGA City -- S enator Emmanuel “Manny” Pacquiao called on the Philippine Health Insurance Corp. (PhilHealth) to immediately release funds due to hospitals in General Santos City and other medical institutions around the country. The senator, interviewed by phone on Sunday, made the pronouncement after receiving an urgent appeal from eight hospitals in
General Santos City who s o u g ht h i s a s s i s t a n c e , claiming that they are “close to financial exhaustion” because of PhilHealth’s outstanding payables amounting to P834 million. “We are at war with this pandemic and there is no need for bureaucratic red tape in time of crisis,” said Pacquiao, who grew up in General Santos and once ser ved as congressional representative of neighboring
ALSONS Power Group said its 14.5-megawatt (MW) Siguil hydroelectric power plant in Maasim, Sarangani is on track to begin commercial operations next year, noting t h at c o n s t r u c t i o n h a s
proceeded on schedule. In a statement Monday, Alsons Power said that it is currently developing the P14.5-billion run-of-river project’s power house which HYDRO/PAGE 11
Sarangani province. T h e e i g ht h o s pit a l s in General Santos that complained against PhilHealth are Auguis Clinic & Hospital, General Santos Doctors Hospital, Gensan Medical Center, Mindanao Medical Center, RO Diagan C o o p e r at i v e Ho s p i t a l , Sarangani Bay Specialists Medical Center, Socsargen County Hospital, and St. Elizabeth Hospital. “Mounting receivables from PHIC coupled by PAYMENTS/PAGE 11
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