Mindanao Daily Caraga (October 4, 2013)

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Mindanao Daily NEWS northmin . westmin . caraga . davao Your Mindanao-wide Community Newspaper

Volume II, No. 101

web portal: www.businessweekmindanao.com

Friday

P15.00

October 4, 2013

Proponent drops bid for P2b PPP Agusan River dredging By PAT SAMONTE, Regional Editor-Caraga

BUTUAN City––A Filipino-Korean corporation, formerly engaged in buying, selling and processing sawn lumber and veneer products, has reportedly withdrawn from its proposal to dredge the Agusan River.

Miriam: DAP illegal, saps Congress power SENATOR Miriam Defensor Santiago said that the scandalous DAP (DisCHINESE CONSUL GENERAL VISITS C. DE ORO bursement Acceleration Mayor Oscar Moreno warmly welcomed Zhang Weiguo, consul general of the People’s Program) is illegal, because Republic of China who visited the city to strengthen diplomatic ties between the Philippines and China, especially along trade, tourism and investment promotions. Moreno it was not contained in the is optimistic that the top diplomatic official’s visit will entice interest among Chinese businessmen to pour in businesses in Cagayan de Oro City. The Chinese official was accompanied by Oro Chamber president Efren T. Uy and officers of the Misamis Oriental Filipino-Chinese Chamber of Commerce and Industry, Inc. (MOFCCCI) during the latter’s courtesy call at the Mayor’s Office on Oct. 2. (CIO)

VP Binay to Rover scouts: don’t lose hope By Louie Lapat of CIO-Tagum

CITY of Tagum, Davao del Norte––Vice President Jejomar C. Binay called on the youth to never lose hope despite of the issues on widespread corruption that beset the country today. “Tayong mga boy scouts, lalo na kayong mga bata, ‘wag tayong mawawalan ng pag-asa sa ating bansa,” voiced the country’s second highest-ranking government official and the President of the Boy Scouts of the Philippines during the kick-off ceremony of the Eastern Mindanao Region-Regional Rover Moot in Energy Park, Tagum City last October 3, 2013. “Dito sa mga nahaharap nating mga problema, tingnan ninyo, makilahok kayo sapagkat kayo ay mamamayan din ng Pilipinas.” The Vice President called on the youth to take an active role in nation building in order to fulfill their sacred tasks as scouts. Binay served as the guest See SCOUTS/p.11

SEE FULL STORY/p.4

2011 or 2012 budgets; and because alleged savings were used to augment new budget items which was not previously authorized See Illegal/p.11

RIZAL COMMERCIAL BANKING CORP (RCBC) , Awardee for Banking & Loans Category

Power woes in Misor remains unresolved amid public hearing By GERRY LEE GORIT, Correspondent

CAGAYAN de Oro City-Member consumers of the Misamis Oriental II Electric Service Cooperative, Inc. (Moresco-II) in the first district of Misamis Oriental will continue to experience daily rotating brownouts in the coming weeks. This after the issue was unresolved during a public hearing held on Wednesday afternoon at the capitol called for by the provincial government. The provincial board’s committee on energy, transportation and communication, chaired by Emmanuel Mugot invited executives of the electric cooperative and the National Grid Corpora-

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tion of the Philippines to shed light on the problem. Mugot said the hearing was called after Gov. Yevgeny Vincente Emano had received numerous complaints from the consumers about the daily brownouts. Moresco-II manager Amado B. Kee confirmed that brownouts occur from 4 to 6 hours daily. However, Mugot added that Moresco-II has assured that the brownout hours will be reduced from 30 minutes to 1 hour. Provincial board member Jabi Bernaldez said the problem should be solved as soon as possible because See POWER/p.11

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BENEFITS THE IMMUNE SYSTEM

RIZAL COMMERCIAL BANKING CORP. (RCBC), represented by Mr.PETER ANTHONY N. ROA (3rd from right) received the award for BANKING & LOANS category during the awards night of the 2013 Mindanao Business Investors Awards, Saturday, Sept. 28, 2013, at SM City - CDO. Also in photo are (from left) STEAG Community Relations Supervisor Jerome Soldevilla, Oro Chamber President Efren Uy, Veterans Bank Vice President Mike Villa Real, BusinessWeek Mindanao Group of Publications Publisher-CEO Mr. Dante Sudaria, and Awards Exec. Director photo by shaun alejandre a uy Allan M. Mediante,

Established in 1960, Rizal Development Bank started as a small development bank in the humble province of Rizal. It received the Central Bank’s approval to operate as a commercial bank in December 1962, and commenced operations under its present name RIZAL COMMERCIAL BANKING CORP - in January 1963. Judging by its spontaneous growth from Manila to Mindanao, it can be said that RCBC had a fruitful maiden year. It was already out of the red after less than two months of operations, constantly propelled by its vision of joining the ranks of industry leaders; building a strong and established brand among consumers; and delivering quality service to clients . Along with rapid expansion came a steady wave of oportunities from a wide range of market segments. These integral growths were first felt in the consumer/retail segment,

middle income groups, locators in the export processing zones, corporate partners, and the Filipino-Chinese market segment. RCBC also developed into one of the remittance industry’s strongest players in the Philippines and in Mindanao, thanks to its extensive presence that is further boosted by its remittance subsidiaries and partners in North America, Europe and Hong Kong. Today, RCBC firmly holds its place among the five largest private domestic commercial banks in the Philippines. For the first quarter of 2010, it posted P975 million in net income, and its total consolidated resources have reached a staggering 282.8 billion. To continuously cover the diverse and constantly growing needs of the markets it serves, the RCBC Group has invested in a series of financial subsidiaries that provide investment banking services, wealth management and financial advisory,

foreign exchange brokerage, comprehensive remittance channels, credit card services, microfinance/SMEs resources, electronic banking channels, and retail banking services, among others. RCBC’s product diversity is also enhanced by its exceptional adherence to service excellence, which in turn is reinforced by strong investments in information technology. RCBC knows that the company’s true wealth lies in its continuous commitment to serve the best interest of its customers. Proving that there’s more to its riches than gold, the bank has put to heart its purpose of providing professional and personalized services to clients, corporations, and other members of the communities it serves. And this sense of duty, above anything else, sets RCBC’s 50 years of service in gold.

Editorial: e-mail: mindanaodailynews@gmail.com • 72-33-44, 856-3344 • Advertising: e-mail: mindanaodaily.ads@gmail.com Contact cell nos.: 0917-7121424, 0947-8935776


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