up to 15% discount on downpayment downpayment-up to 12-24 months to pay balance payable in 10 years @ 10% flat rate
BusinessWeek MINDANAO
YOUR LOCAL ONLINE BUSINESS PAPER
www.businessweekmindanao.com
As of 5:57 pm MAR. 4, 2013 (Monday)
FOREX
PHISIX
US$1 = P40.77
6,637.56 points
X
4.71 points
Briefly
X
8 cents
Waste to work art
BUTUAN City – City Mayor Ferdinand Amante Jr. led on Monday the launching of the project dubbed “Ang Pagbutwa Hong Balangay” or From Waste to Work of Art with 10 young artists from Butuan and Caraga region competing in the making of miniature 3D balangay or boats, held at the old SP building, city hall compound here. Said project is spearheaded by the local government of Butuan and the Local Youth Development Council. Various recyclable materials will be used by the artists in making their own balangay. Starting Monday up to Thursday, the public can see them making their craft at the old SP building. The winners will receive cash prizes: first prize is P7,000; second prize P5,000; third prize - P3,000; and consolation prizes of P2,000.
Stable prices
THE prices of basic commodities and services in Region 12, or the Soccsksargen Region, have remained stable in the last several weeks despite the “modest increase” in the area’s average inflation rate as of the end of January. Herlita Caraan, National Statistical Coordination Board (NSCB) Region 12 director, said Monday the region inflation rate increased to 3 percent in January or 0.4 percent higher than 2.6 percent average inflation in December. But she said the January inflation figure was lower by 0.5 percent when compared to the same month last year. The inflation rate measures the year-on-year rate of increase in the prices of basic commodities. An inflation of 3 percent means that prices of commodities and services in January increased at a rate of 3 percent, on the average, than their prices a year ago.
every Mondays, Wednesdays, & Fridays
P15.00
Oro businessmen still want Lumbia airport
Issue No. 172, Volume III •
Market Indicators
Now
Cagayan de Oro City
Wednesday-Thursday
March 6-7-28, 2013
Chamber of Industries fears ‘great loss impact’ on businesses
B
By CHENG ORDONEZ Associate Editor
USINESS leaders in Cagayan de Oro City have strongly demanded for the continued operation of the old Lumbia airport should the new Laguindingan International Airport in Misamis Oriental pushes through with its scheduled opening in April, this year, even without the needed navigation equipment and other amenities needed for normal operation.
T h is c a me a f ter t he Cagayan de Oro Chamber of Industries (COCI) learned that almost 70 percent of the existing f lights to and from Lumbia airport here will be suspended when the new international standard airport starts with its limited time of operation due to the absence of the Air Navigation Support Services Facilities (ANSSF). COCI President Bienvenido Valdez said business-
men in Cagayan de Oro are left with no option but to demand for the continued operation of the Lumbia airport to avert incurring business losses brought about by the suspension of flights. The operation of the new Laguindingan International Airport in Misamis Oriental even without the commissioning of the ANSSF yet, will cancel 70 percent of existing flights, because aircrafts are airport/PAGE 8
Anti-dynasty movement launched in Mindanao
Cynthia Villar says sorry for remarks on Filipino nurses SWAMPED by an avalanche of protests on social media over her remarks that seemed to belittle the expectations of Filipino nurses, Team PNoy senatorial candidate Cynthia Villar apologized on Twitter to the nurses, nursing students and their families. She said she had no intention of hurting anyone. “Taos puso po akong humihingi ng paumanhin sa lahat ng mga nurse at kani-kanilang mga pamilya na labis na nasaktan sa aking kasagutan sa tanong na ibinato sa akin ng isang programa sa TV [I apologize most sincerely to all the nurses and their fami-
VILLAR
lies who were deeply hurt by my reply to a query in a TV program],” Villar said. She continued, “Alam ko po ang sakripisyo at hirap na pinagdadanan ng mga nurse, mga nursing students at kanilang mga magulang at pamilya upang maitaguyod ang kanilang pag-aaral at
propesyon. Hindi rin po lingid sa akin ang malaking tulong ng mga nurse dito sa Pilipinas at sa ibang bansa na nagta-trabaho nang lubos upang makatulong sa kanilang pamilya.” Then she begged for understanding, insisting she bore no malice in her remarks: “Humihingi po ako ng pang-unawa sa lahat ng mga nasaktan sa aking sinabi. Wala po akong intensyong maliitin ang mga Filipino nurses [I plead for understanding from all concerned. I had no intention to demean our Filipino nurses].” Villar said that lack of villar/PAGE 8
By MIKE BANOS, Correspondent
THE people’s initiative aimed at compelling Congress to pass an enabling law for the Constitutional provision banning political dynasties continues to gain ground with the recent launching of the Movement Against Dynasties (MAD) in Cagayan de Oro City last Sunday,
March 3, 2013. Leaders of the movement said the initiative was launched in three of Cagayan de Oro City’s largest Catholic churches: The Church of the Black Nazarene, the St. Augustine Metropolitan Church and the Our Lady launched/PAGE 8
MAD: A Movement Against Dynasties (MAD) was launched at the Nazareno Church and the St. Augustine Cathedral in Cagayan de Oro City with Archbishop Antonio Ledesma. MAD leaders from Manila led the signing of a petition that calls for only one candidate from one family. The signing of the petition was done at the church doors where the public were invited to be part of the movement. photo by : gerry lee gorit
P12/kwh cap for Mindanao market
J.P. RIZAL - CRUZ TAAL STS., (NEAR SHANGHAI BAKERY) DIVISORIA, CAGAYAN DE ORO CITY
THE initially-estimated pricing cap for interruptible loads to be channeled through the Interim Mindanao Electricity Market (IMEM) has been set at P12.00 per kilowatt hour (kwh), based on simulations presented by the Energ y Regulatory Commission. Referencing on that cost range, the blended rate for
Mindanao grid will inch higher by P0.6389 per kwh to P4.3327 per kwh from the most recent pass-through generation charge of P3.6938 per kwh. Under a scenario wherein interruptible loads will supply lower volume, the generation charge could just climb by P0.2689 per kwh
to P3.9627 per kwh. But since the P12.00 per kwh is initially eyed as the price cap, it was noted that the selling price for IMEMunderpinned generation may go lower than that. The calculated rate for capacities expected to be sold through the IMEM will be a market/PAGE 8
Editorial and advertising email : businessweekmindanao@gmail.com • Cell Number : 0917-7121424 • 0947-8935776