BUSINESSWEEK MINDANAO APRIL 27,2012

Page 1

BusinessWeek

YOUR LOCAL ONLINE BUSINESS PAPER

www.businessweekmindanao.com Issue No. 69, Volume III • April 27-29, 2012

Editorial: 088-856-3344 • Advertising: 0917-7121424

P15.00

Market Indicators

AS OF 5:25 P.M., APR. 26, 2012 (Thursday)

FOREX

PHISIX

US$1 = P42.61

5,214.75 points

; ; Briefly 4 cents

9.95 points

Power from irrigation

THE government is now looking into the possibility of using irrigation systems to ease the power crisis in the Philippines particularly in Mindanao. The Department of Agriculture (DA) said it is now in talks with the Department of Energy to finalize a project which will use irrigation systems to produce electricity. “Irrigation systems could supply 15 megawatts of electricity in the country daily. [Power produced from irrigation] could be cheaper than that produced by private power generators,” said Agriculture Secretary Proceso J. Alcala in a statement.

Food prices up

GLOBAL food prices again rose in the first quarter on the back of higher oil prices, putting millions of people at risk of not having enough to eat, the World Bank said Wednesday. The eight percent increase from December 2011 to March 2012 was due to “higher oil prices, adverse weather conditions, and Asia’s strong demand for food imports,” the World Bank said in its latest Food Price Watch. The bank’s Global Food Price Index was “only one percent below a year ago and six percent below the February 2011 historic peak,” it said.

Enrolment

A TOTAL enrolment of 1,056,201 in formal education from the pre-school to the secondary level in Northern Mindanao has been noted last school year (SY), representing an increase of 5.16 percent compared to the previous SY. This is compared with the total regional enrolment (TRE) of 1,004,367 from the pre-school to the secondary level in the region in SY 20092010, Director Luz Almeda of the Department of Education (DepEd), Region 10, said. She said enrolment in the public schools registered a total of 929,138 or 87.97 percent, and the private schools with 127,063 or 12.03 percent of the TRE.

By NELSON V. CONSTANTINO, Editor-in-Chief

S

EEING the need to generate more electricity in the brownout-stricken Mindanao, Aboitiz Power Corp. plans to invest P35 billion for power projects in the island in the next three years.

In a press statement furnished this paper, Aboitiz Power Chief Executive Erramon I. Aboitiz said the company is aiming for additional capacity to narrow the gap of Mindanao’s large power deficit. “Over the next three years we will be investing P35 billion to add 354 megawatts (MW) of power to Mindanao by 2015,” said Mr. Aboitiz said. Th firm said its projects TRAFFIC MESS. The slow pace of constructing a new drainage system in most part of are long-term solutions to downtown Cagayan de Oro has also slowed down the flow of traffic in busy junctions such as this one along Claro M. Recto Avenue and Corrales Extension. Adding to the mess is the lack of traffic enforcers in the area. PHOTO BY GERRY L . GORIT

Normin’s exports breach $1-B mark By MIKE BAÑOS, Correspondent

EXPORTS from Northern Mindanao breached the $1-B mark for 2011, thanks to a strong fourth quarter finishing kick from coconutbased products. Records from the Department of Trade and Industry Region X show exports from the region totaled $1,064.51-billion, and 14.85 percent increase from the 2010 total of $926.91-mil-

PNoy turns-over shelters to Sendong victims PRESIDENT Benigno S. Aquino III will lead the turnover of the newly- constructed permanent housing units to the victims of storm “Sendong” in Cagayan de Oro City today. T h e Pre s i d e nt w i l l distribute certificates of awards and certificates of SHELTERS/PAGE 11

lion. “Coconut based products like coconut oil, oleochemicals and dessicated coconut are still the region’s top exports, and contributed 61.42 percent of the regional total in the fourth quarter and 64.21 percent for the year,” said Leon M. Dacanay Jr., NEDA Region X regional director during a recent media briefing. “Other top annual exports included processed foods,

sugar and sugar cane products and other resource based products.” Despite a 13.74 percent decline from 2011, exports of crude/refined/cochin coconut oil remained the top export commodity at $319.58-million, accounting for a third of Region 10’s exports for 2011. Oleochemicals followed at $215.82 million (20.27%) and canned pineapple products third at EXPORTS/PAGE 8 A ò ÙãÊÙ® ½

Coffeeworks: Beginnings COFFEEWORKS was born out of founder Roselle Paras’ own love for hanging out in coffeeshops while working as a reporter and segment producer at network giant ABSCBN. As a way of coping with the demands of the job, and as a way to relax, Roselle was always

a regular fixture at coffeeshops in Manila. Seeing the many coffeeshops thriving in the metro, she realized that there was room to introduce a modern, and cozy coffeeshop in her own hometown: Cagayan de Oro. Thus on August 2005, Roselle opened CoffeeCOFFEEWORKS/PAGE 11

Mindanao’s power problems. These projects include a 300-MW Davao coal plant and three hydroelectric projects: the 14-MW Tudaya, 12-MW Tamugan and 28MW Sita-Simod plants. Mindanao currently needs around 1,597 MW daily, but existing capacities in the region can only produce 1,261 MW as of April. More than half of the power plants in the island source their energy from the Agus POWER/PAGE 8


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