BusinessWeek Mindanao (October 3, 2016)

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BusinessWeek MINDANAO CREDIBLE

Volume VII, No. 052

Market Indicators

As of 6:10 pm september 30, 2016 (friday)

FOREX

PHISIX

US$1 = P48.482

7,629.73

22.5 cents

X

85.13

X

points

Briefly Unusual prices THE Department of Energy (DoE) has asked oil companies operating in Mindanao to explain reports of “unusual price reductions” in gasoline products, saying the movements are in possible breach of provisions under the law. “Based on the monitoring of the DoE-Mindanao Field Office (MFO), the price adjustment of the oil companies in Mindanao from the period of Aug. 30 to Sept. 6, 2016 was a huge P3.00 rollback, hence attracting the attention of the agency,” the DoE said in a statement on Thursday. On Aug. 30, oil companies imposed a 50-centavo price rollback for gasoline, while keeping the price unchanged on Sept. 30. Retailers of petroleum products adjust prices weekly, usually on a Tuesday.

Investment haven A MARKET insight seminar focused on the Philippines was recently co-organized by the Singapore Business Federation (SBF) and Philippine Department of Trade and Industry’s (DTI) Philippine Trade & Investment Centre (PTIC)Singapore to invite Singaporean companies and Singapore-based firms to SBF’s planned Philippine business mission later this year. Some 125 business leaders attended expecting more trade and partnership opportunities with Philippine companies under the new administration. Seminar speakers were Philippine Ambassador to Singapore Antonio Morales, PTIC-Singapore Commercial Counsellor Glenn Peñaranda, Philippines’ BDO Unibank Senior Vice President and Head of Research Dante Tinga, Jr., Tax and Auditing Services firm SGV partner-in-charge for Mindanao Alvin Pinpin, Law firm Reed Smith Singapore partner Matthew Gorman, and Frontier Strategy Group Head of Research for APAC Adam Jarczyk.

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PHL sets up stronger eco ties with Vietnam www.businessweekmindanao.com

P15.00

Monday | October 3, 2016

By ANTONIO L. COLINA IV , MindaNews

D

AVAO City -- President Rodrigo Duterte and Vietnam president Tran Dai Quang will establish a six-year action plan that will take effect next year to strengthen the cooperation on security, defense and trade between these ASEAN countries. ties/PAGE 7

Tight monitoring enforced vs illegal lotto outlets in Normin

FISHERS’ RESPITE. Fishermen along Macajalar Bay uses this makeshift for respite when catch are scarce. The massive industrialization along Cagayan de Oro and Misamis Oriental coastlines is seen as major cause of dwindling marine resources in the area. PHOTO BY GERRY LEE GORIT

NGCP seeks to beef up renewable energy devt

THE Philippine Charity Sweepstakes Office (PCSO) should submit evidence that could identify the illegal lotto outlet owners, a police official said Friday. Pol i c e Supt . Su rk i Sereñas, the regional police spokesperson in Northern

Mindanao, said that the law enforcers had the list of alleged illegal lotto outlets in the region, but has no concrete lists of the owners of the illegal outlets. “The law enforcers could not prosecute anyone because lotto/PAGE 7

By MARK FRANCISCO, Staff Writer

GOVERNMENT-owned National Grid Corporation of the Philippines (NGCP) had set up a “comprehensive program” to ensure its capability to

take in renewable energy (RE) power sources into the grid. “Because of the intermittent ngcp/PAGE 7

IP issues will be addressed in GRP-NDF negoiation on socio-economic reforms By H. MARCOS C. MORDENO, MindaNews

DAVAO City -- The situation of the Indigenous Peoples (IPs) will form part of discussions on socioeconomic reforms in the ongoing

peace negotiations between the Philippine government and the National Democratic Front, two reforms/PAGE 7

PARK TO REST. Young men sit at the Erreccion del Pueblo or Foundation of the Town monument at the downtown plaza in Malaybalay City. MindaNews photo by Walter Balane

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