Mindanao Daily NEWS northmin . westmin . caraga . davao Your Regional Mindanao-wide Community Newspaper
Volume III, No. 028
web portal: www.businessweekmindanao.com
Saturday
ROTARY INTERNATIONAL
THE FOUR-WAY TEST of the things we think, say or do
1. Is it the TRUTH? 2. Is it FAIR to all concerned? 3. Will it build GOODWILL and BETTER FRIENDSHIP? 4. Will it be BENEFICIAL to all concerned?
See story P15.00 on Page 12 June 21, 2014
CDO tops e-Readiness Survey
C
ity Mayor Oscar S. Moreno received the award for Cagayan de Oro as it topped the E-Readiness Survey conducted by the Department of Science and Technology. The awarding was done during the Innovation and Connectivity through Technology Forum held at InterContinental Hotel in Makati on June 18, 2014. The forum was attended by various local government units (LGUs) and was organized by the Department of Local Government (DILG), Department of Trade and Industry (DTI), Department of Science and Technology (DOST), United States
Agency for International Development (USAID), Deutsche Gesellschaft for Internationalle Zusammenarbeit (GIZ) and the Canadian Government. The City Government of Cagayan de Oro took See survey, page 2
Cops nab Bukidnon cult leader for rape cases CAGAYAN DE ORO CITY -- Police arrested the leader of a cult in San Fernando town in Bukidnon Wednesday for allegedly raping young members of his group. Insp. Joann Galvez, Bukidnon Provincial Police Office spokesperson, identified the suspect as 53-year-old Felipe Rivera. Rivera is reportedly the founder and leader of a group called Philippine Reformation Catholic Church, which is based in the said
municipality. Galvez said that Rivera was arrested based on two arrest warrants issued by Malaybalay City Regional Trial Court (RTC) Branch 8 Judge Isobel Barroso last February. Rivera was picked up inside the group’s hideout in sitio Sulog, barangay Halapitan in San Fernando town at 10:30 in the morning last Wednesday. He did not resist arrest. The arrest warrants See nab, page 2
RECOGNIZING TOP TAX CONTRIBUTORS: Misamis Oriental 2nd District Representative Juliette Uy, together with Villanueva local government unit officials led by Mayor Julio Uy present a Plaque of Appreciation to energy-firm STEAG State Power Inc. (SPI) for being one of the top business and real property tax payers in Villanueva, Misamis Oriental. Steag Community Relations Manager Ghaye Alegrio (left) received the award on behalf of the company during the Villanueva 52nd charter day celebration. photo supplied
Misamis Occidental officials upbeat on disaster preparedness By GERRY LEE GORIT Correspondent
CAGAYAN DE ORO CITY -- The governor of Misamis Occidental and 17 mayors of the municipalities of the province completed the twoday disaster summit held on June 17-18 in Cagayan de Oro City. The summit was called for by the regional office of the Office of Civil Defense for all local chief executives and their disaster risk reduction management teams. Governor Herminia Ramiro and Ozamiz City Mayor Aldong Parojinog led the government officials participating from Misamis Occidental. “Very fruitful,” Ramiro said of the summit. “The more we will be striving to strengthen our disaster preparedness,” she added. All 14 municipalities and all 3 cities of the province were represented.
Ozamiz City Mayor Aldong Parojinog signs the “Strengthened Declaration of Cmmitment to Disaster Risk Reduction and Management” during the provincial disaster summit held Wednesday in Cagayan de Oro City. The summit gathered together the local chief executives of Misamis Occidental. Standing beside him is Governor Herminia Ramiro and other mayors of the municipalities. photo by gerry lee gorit
“Our concentration in the province is flood control,” Ramiro said, noting the long coastal area of the province. In Ozamiz City, Parojinog said they are prepared with rubber boats, scuba
diving gear and other rescue equipment. He said they put their preparation along the rivers of the city. He added that the city’s drainage system is underSee upbeat, page 5
Philippines investors remain most optimistic in the region - Manulife Survey MANILA, 6 June 2014 – Philippines investor sentiment slipped in the first quarter of 2014 but remains the highest in the region, alongside Malaysia, according to Manulife’s latest quarterly survey into investor sentiment in the country. While optimism is down slightly from the previous quarter (-8 to 58), more investors still regard it as is a good time to invest and sentiment remains overwhelmingly positive. At the asset class level, sentiment dropped across the board except towards cash; although again, investors remain optimistic about all asset classes (equities lost 7 points to reach 41, fixed income was down 15 to 45, mutual funds declined 16 to 35, and investment property slipped 9 to 70). “Our second survey of investor sentiment in the Philippines continues to reveal great optimism. A strong stock market performance during the quarter
• Philippines investor sentiment remains most optimistic in the region, alongside Malaysia • There is strong support for raising the retirement age • Over two thirds say leaving an inheritance to their children is their primary retirement concern • Reliance on private healthcare expected to rise in retirement, yet healthcare insurance ownership levels remain low and strong economic growth expectations look to be underpinning the upbeat sentiment,” said Ryan Charland, President and CEO, Manulife Philippines. The research, part of the Manulife Investor Sentiment Index (MISI) survey,* shows that sentiment in the Philippines is joint highest with Malaysia, and at 58 is more than double the regional average of 24 (up two points from 22 in the previous quarter). “Stocks were up 9 percent in the first quarter thanks to company earnings being in line with or better than estimates. Yet, sentiment may
have built in a higher inflation outlook and the rise in banks’ reserve requirements, which was interpreted as a prelude to further tightening measures to curb strong liquidity growth,” said Ms. Aira Gaspar, Chief Investment Officer, Manulife Philippines. “We expect sentiment towards equity to pick up from here, as resilient domestic consumption and rising investment spending are supportive of an upward corporate earnings trajectory.” Official retirement age should rise Despite the optimism, See manulife, page 5
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