BusinessWeek MINDANAO CREDIBLE
Volume VIII, No. 51
Market Indicators
As of 6:00 pm October 3, 2017 (tuesday)
FOREX
PHISIX
US$1 = P51.03
8,312.93
20.6 cents
X
56.65 points
Briefly
X
Migratory birds GENERAL Santos City -Over the last two weeks, around 86,000 migratory birds were documented to have converged at an emerging sanctuary area in the coastal town of Glan in Sarangani Province. The volume of birds broke last year’s 78,817 record. Lawyer Emma Nebran, former executive director of the Sarangani capitol-based Environmental Conservation and Protection Center (ECPC), said the number was based on the results of an ongoing migratory raptor study being conducted by the agency. She said the annual study at the Raptor Hill of Barangay Rio del Pilar in Glan, Sarangani started last Sept. 18 and will end on Oct. 31.
Bangsamoro road IN the Third Philippines-Japan Joint Committee Meeting on Infrastructure Development and Economic Cooperation, Department of Public Works and Highways Secretary Mark Villar presented the Bangasmoro Road Network Development Project, an infrastructure project involving the improvement and construction of a 200 km road network covering 11 access roads and bridges connecting ARMM and other regions in Mindanao. “Japan International Cooperation Agency has already funded the feasibility study of the Bangsamoro Road Network Development Project. We have already formed a multi-sectoral steering committee, which will be chaired by Undersecretary Emil Sadain,” Villar noted. “We are confident that by 2022, the road network in Bangsamoro will be fully completed,” he added.
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Rio Verde vows water supply back in 3 days www.businessweekmindanao.com
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Wednesday | October 4, 2017
Earthquake-damaged pipeline caused water shortage
H CDO’S WATER CRISIS. Rio Verde Vice President Joffrey Hapitan speaks before the City Council. (CIO)
By MIKE BAÑOS, Editor-at-Large
ERE’S good news and bad news for Kagay-anon water consumers. R i o Ve r d e Wa t e r Consortium Inc. has committed to the Cagayan de Oro Water District it would normalize its delivery of bulk water in the next three days. However, the COWD s ays pres ent consumer
demand in its West Service Area already exceeds the contracted volume Rio Verde has committed to deliver so there’s a good chance the low pressure to no-water situation facing water consumers could continue indefinitely until repairs to the main water line of Rio Verde are completed. During the City Council’s Utilities Committee public consultation headed by
BOC-10 tariffs increase but tax collections down By MARK FRANCISCO Staff Writer
THE regional district of the Bureau of Customs in Cagayan de Oro posted a P3.6 billion collection from April to June this year or up by 47 percent as compared to the same period in 2016. The Bureau of Internal Revenue (BIR) in the same region did not fare well though. Its tax collections for the second quarter of 2017 was pulled down from P3.42 billion in 2016 Q1 to only P2.9 billion this quarter. Regional economic specialist Clark Cañete explained that many companies in the cities of Cagayan de Oro and Iligan were reclassified recently as tariffs/PAGE 11
BUSY TAWI-TAWI PORT. Unloading goods at the port of Bongao in Tawi-tawi on a late afternoon. mindanews photo by ferdinandh b. cabrera
DTI provides stores for Marawi bizmen By KRIS CRISMUNDO, PNA
THE Department of Trade and Indust r y (DTI) is providing stores to Maranao entrepreneurs who are among
the internally displaced persons (IDPs) in Marawi brought by clashes between government troops and
Maute group. DTI Secretary Ramon Lopez said his agency is working on four commissaries for Maranao businesses in provides/PAGE 11
Kag. Teodulfo Lao Jr. held yesterday at the city session hall, COWD Information Manager Ladele Sagrados said the ongoing water crisis has adversely affected water consumers in their West Service Area. “ We h a v e b e e n experiencing water shortage in our West Service Area due to repairs being conducted to the Rio Verde pipeline that has affected several barangays including Lumbia, Calaanan, Pagatpat, Opol, Bulua, Iponan, Patag, especially in the elevated portions and low pressure in the rest of the West Service Area,” Sagrado said. Quakes damaged pipeline Rio Verde Vice President Joffrey Hapitan said they have been unable to supply the C OWD bulk water requirements after Rio Verde’s main submarine transmission line across the Cagayan River was damaged by the series of earthquakes which rocked Mindanao last month. Records show that Mindanao was rocked by a series of earthquakes nine days ago with a 4.4 magnitude temblor first hitting Magpet Soccskargen, followed a few hours later by a magnitude 5.7 quake at Kadingilan, Bukidnon; then another 4.4 magnitude quake in Osias, Soccskargen and Wao, Lanao del Sur. supply/PAGE 11
Agus, Pulangi rehab to proceed with or without privatization By ANTONIO L. COLINA IV, MindaNews
D AVA O C i t y - - T h e rehabilitation of the Agus and Pulangi hydropower complexes will push through with or without privatization, Energy Undersecretary Felix William B. Fuentebella said.
In a press conference during the Energy Investment Forum and Stakeholders Conference at the Grand R e g a l H o t e l Tu e s d a y, Fuentebella said the two hydropower plants de-rated
capacity is 686 megawatts. Their installed capacity is 982 MW. He said Finance Secretary Carlos G. Dominguez III, chair of the Power Assets Liabilities and Management Corporation (PSALM), has rehab/PAGE 9
AGUS-PULANGUI REHAB. An aerial view of a hydropower plant along Agus River, near scenic Maria Cristina Falls in Iligan City in this photo taken on March 4, 2014. mindanews file photo
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