vertical home builders enterprises Patag Highway, Cagayan de Oro City
Tel. No. 858-5789 / Fax No. 850-5020; Cel. Nos. 0919-655-3754, 0923-304-2676 Email: verticalhomebuilders@yahoo.com
Dealer of hardware and construction materials: Product Lines: Angle Bars; Gl Pipes; C-Purlins; Holow Blocks; Coco Lumber; Carrying Channel; Double Furring Channel; Single Furring ; Acoustic Board; Polycarbonate; Power Tools; Good Lumber S4S; Panel Doors; PVC Laminated Panel; PVC Vertical Blinds; Roller Blinds ; Wooden Blinds; Armstrong Vinyl Tiles; Kent Vinyl Tiles; Parquet Tiles - Apo Vinyl Tiles.
“YOU NAME IT, WE HAVE IT.”
MindanaoDAILY Distributor & Dealer of: Steel Bars; Holcim Cement; Davis Paint; Sand & Gravel; Plywood; INdustrial Supplies; Finishing Supplies; Electrical Supplies; Power Tools; Air Compressors
THE PURVEYOR OF TRUTH , JUSTICE, AND DEVELOPMENT
Volume VI, No. 063
CHENG ORDOÑEZ, Section Editor
Business Wednesday
Canners affected by unstable tuna prices By Lilybeth G. Ison
MANILA -- Severe fluctuations of the prices of raw materials are making it even tougher this year for tuna canners in the Philippines, which may drag bottom line figures downward. According to the Alliance Foods Select Inc., the cost of tuna meat has been unstable since January, not just in the Asian markets but even in the European and U.S. markets. Tuna Market Intelligence, a report published every fortnight by the Parties to the Nauru Agreement, a committee formed by countries advocating for sustainable fishing in the Pacific Ocean, shows that fish costs, tuna in particular, have unexpectedly spiked in the past seven months. Tuna costs since the start of the year have risen President Rodrigo Duterte (left) with 4th Infantry Division commander Major General Benjamin Madrigal Jr. pass See tuna, page B3
August 10, 2016
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B1
CCP pushes for socialized housing roadmap MANILA -- The European Chamber of Commerce of the Philippines (ECCP) has urged the government to come up with a clear roadmap on socialized housing to address backlog and provide housing for the urban poor. “Socialized housing solutions should be possible without moving them out of the city considering that Metro Manila is still where they are finding their jobs or livelihood. The government can look at some of the properties it owns and transform them into urban medium rise social housing projects,” said ECCP Senior Adviser Henry Schumacher. The business group offers vertical developments within Metro Manila which will not need vast land areas and to avoid displacing the livelihood of marginalized sector. To address housing backlog, about 5.5 million houses need to be built while another 1.4 million units should be constructed for relocation. See pushes, page B3
the foyer honor during his visit to the army division in Cagayan de Oro City, Tuesday, August 9, 2016. Cheng Ordoñez
New law lifts foreign ownership limit in adjustment companies By Kris M. Crismundo
MANILA -- The Insurance Commission (IC) welcomes the passage and implementation this month of a new law lifting foreign ownership limit in adjustment compa-
nies noting that this will make the Philippines comply with its commitments to the ASEAN Economic Community (AEC). Republic Act No. 10881 entitled “An Act Amending Investment Restrictions in
Specific Laws Governing Adjustment Companies, Lending Companies, Financing Companies and Investment Houses Cited in The Foreign Investment Negative List and for other Purposes” will take effect
on Aug. 16. The R.A. No. 10881 now allows foreign nationals and 100-percent foreign ownership -- in case of partnership, association and corporation -- in adjustment See law, page B3
A farmer shows his harvest of the rare “Dragon Fruit” in a farm in cogon, Ozamiz City, where some 200 plants were planted. The Dragon Plant is known for being expensive and its farm fast becoming a tourist attraction. PHOTO BY GERRY LEE GORIT
quality tarpaulin printing contact: mindanao daily news publishing corporation Mdntarps@gmail.com (0935) 161 3398 look for Anabelle, (088)881-0100 Tanleh Bldg. Abellanosa St., Consolacion, Cagayan de Oro City Editorial: e-mail: mindanaodailynews@gmail.com • Advertising: e-mail: mindanaodaily.ads@gmail.com Contact: 0917-7121424, 0947-8935776