BusinessWeek MINDANAO CREDIBLE
Volume VIII, No. 53
Market Indicators
As of 6:00 pm October 5, 2017 (thursday)
FOREX
PHISIX
US$1 = P51.01
8,294.01
6.7 cents
X
50.04
X
points
Briefly
Trade expo DAVAO City -- The ongoing Mindanao Trade Expo (MTE) at Glorietta Mall in Makati City earned P1 million in sales when it opened on October 2. This was disclosed by MTE Foundation, Inc. (MTEFI), which brought MTE to the nation’s capital. MTE is one of Mindanao’s most thriving market encounters, promoting Mindanao products to new local and foreign markets. A total of 32 exhibitors, including some of Mindanao’s best products and services, are part of the trade exposition. The Glorietta event, which will run until October 5, signifies another major step for MTE, which is a result of a strengthened partnership between MTEFI and Ayala Malls. The latter offered a wider market for Mindanao products and services.
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SSS to increase premium in 2018 to save ‘actuarial’ life www.businessweekmindanao.com
F
inance Secretary Carlos Dominguez III said officials of the Social Security System (SSS) need to decide as soon as possible what mode the agency would take to ensure longer actuarial life.
“The payout benefits have increased. Unless they raise revenues then their fund life will just continue to drop,” he said. At present, SSS fund life is up to 2038. The agency has proposed several legislative measures such as a 1.5 percentage
points increase in the annual contribution of its members from the current 11 percent; lifting of the PHP16,000 maximum salary credit to PHP20,000; increase in the minimum salary credit from PHP1,000 to PHP4,000; and indexation of pension and contribution to inflation
Monday | October 9, 2017
rate. Last week, SSS President and CEO Emmanuel Dooc told reporters that they would implement contribution hikes in 2018 once the first package of the tax reform proposal takes effect. Dominguez said contribution hike is not the only way that the SSS can ensure its fund life. Other options include better managing their funds to get higher yields or remove the salary cap for members. premium/PAGE 11
Consumer Welfare ILIGAN City — At least for this city and the rest of Lanao del Norte, this year’s consumer welfare month celebration will focus on keeping prices stable through consistent monitoring. This was the message of Department of Trade and Industry (DTI) Provincial Director Ruel Paclipan, as he opened the month-long celebration, highlighting the importance of consumerism on Monday (Oct. 2). Paclipan noted that despite high demand brought by the influx of evacuees from nearby Marawi City, prices of goods have remained stable in Lanao del Norte. Still, Paclipan acknowledged that the increased demand for basic goods arising from the ongoing Marawi conflict has also brought in unsafe products from unscrupulous traders.
SOLAR PANELS. Power supplied by solar panels light up the homes at Bahay Pagasa, a resettlement site for Marawi City residents in the city’s Barangay Bito Buadi Itowa. Photo taken on October 6, 2017. mindanews photo by h. marcos c. mordeno
Mindanao sustainable peace, a key to PH inclusive growth MANILA -- The World Bank (WB) is urging the Philippines to adopt a strategy on Mindanao to support sustainable peace and development and job creation, which are deemed crucial in pursuing sustained overall economic growth in the long term.
“Mindanao is an i mp or t ant p ar t of t h e Philippine inclusive growth story. It is no coincidence that Mindanao, which produces a large share of agriculture output at around 40 percent, also has a lot of poverty,” said WB research analyst Kevin Cruz.
Cruz said raising Mindanao’s agricultural productivity could further increase domestic output and reduce prices of food and other goods across the country. Mindanao accounts for 40 percent of the country’s peace/PAGE 11
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