BusinessWeek Mindanao (October 4, 2013)

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MINDANAO DAILY NEWS SECOND SECTION

Friday - October 4, 2013

BusinessWeek MINDANAO

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Moody’s ups PH rating to investment grade

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Market Indicators

As of 6:10 pm Oct. 3, 2013 (Thursday)

FOREX

PHISIX

US$1 = P43.08

6,387.65 points

32 cents

X

25.39 points

X

Briefly Growth forecast PRESIDENT Benigno S. Aquino III said the Asian Development Bank ’s forecast of 7 percent growth this year, and 6.1 percent for next year is within reach. “I think it’s achievable. Pero I would not want to say right now na guaranteed lahat ‘yan. There are factors beyond our control. Things that happen in the Middle East, for instance; the current government shutdown in America,” the President said when asked to comment on ADB’s raised forecast for the country. One of the major sources of optimism for the administration, he said, is the rebounding Japanese economy, a primary market for the Philippine’s export products. “I will not state categorically a particular number but, we will continue to strive to make the GDP figure that much higher,” the President added.

Electrification AGUSAN del Sur – For many years, residents living on floating houses in the remote villages of Sabang Adgawan and Sabang Gibong are always groping in the dark every night. But this is already a thing of the past after the rural electrification program (REP) of the government reached these t wo fl oat ing villag es l o c ate d within the vast Agusan marshland. At least 55 households of Sabang Gibong, and 97 households at the Sabang Adgawan were the first batch of recipients of the Barangay Line Enhancement Program (BLEP) a n d t h e S i t i o El e c t r i f i c a t i o n Program (SEP) being implemented by the Agusan del Sur Electric Cooperative, Inc. (Aselco). These two floating villages are located within the Sabang Ad g awan Ri ver i n t hi s town, and the Sabang Gibong in nearby Talacogon town, all of the province of Agusan del Sur.

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IN-DEPTH

Page 13

CdO embarks on investment overdrive

By JOANN SANTIAGO Contributor

T

HE Philippines’ finally got an investment grade rating from Moody’s Investors Ser vice Thursday as the debt watcher sees sustainability of t he c ou nt r y ’s st rong e c onom ic performance, ongoing fiscal and debt consolidation, and political stability.

Moody’s current rating on the Philippines is Baaa3 with positive outlook from Ba1. This is t he t hird investment grade rating of the domestic economy after receiving its first-ever last grade/PAGE 23

TYPICAL URBAN LIFESTYLE. Photo shows a typical Filipino urban village. With the improving investment image of the Philippines, Filipinos are hopeful life would be better in the near future. photo by mio cade

IN an unprecedented move to conduct a visioning session with Cagayan de Oro City Mayor Oscar S. Moreno, the Development Bank of the Philippines (DBP) recently spearheaded a round table no-holds-barred executive powwow on the city’s 8-point development agenda at the Executive Conference Hall of DBP in Makati City. Initiated by DBP’s top executives headed by its Chairman Pipo Nuňez and President Gil Buenaventura, the session was participated by select technocrats f rom t he United States Agency for International embarks/PAGE 23

Aboitiz Power units gets ISO seals

BRISK SALES. A vendor sorts pomelo according to sizes in his stall along Roxas Avenue in Davao City. Pomelo costs between 50 to 60 pesos a kilo.

ABOITIZ Power subsidiary Hedcor Sibulan Inc. secured three International Organization for Standardization (ISO) certificates while Hedcor Inc. obtained a recertification. After extensive auditing and testing, Certification International Philippines Inc (CIP), an ISO certifying body in the country, awarded the 90001:2008 or Quality Ma nagement System, 14001:2004 or Environmental Management System and

Mindanao Daily NEWS mindanews photo by toto lozano

OH SA S 18 0 01: 2 0 0 7 or Occupational Health and S a fe t y Ma na gement to Hedcor Sibulan. Since the commissioning of the hydropower plant i n 2010, t he pla nt had been supplying clean and renewable energy to Davao, conforming to the company’s mission to operate a nd develop ef f icient plants with constant improvements and upgrading of assets and services. Hedcor Inc., on the other

hand, continues to meet and maintain standards as proven by its recertification by the same international certificates. Since its first certification on QMS in 2000, Hedcor Inc. continued to explore opportunities to improve, which earned for it more certifications. Last year, Hedcor added ISO 27001, the international standard for Information Security Management Systems, or ISMS.

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BusinessWeek Mindanao (October 4, 2013) by Mindanao Daily News - Issuu