BUSINESSWEEK MINDANAO AUGUST 10,2012

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www.businessweekmindanao.com Issue No. 97, Volume III • August 10-12, 2012

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Market Indicators

AS OF 5:09 PM AUG. 8, 2012 (Wednesday)

FOREX

PHISIX

US$1 = P41.79

5,315.38 points

; ; Briefly 13 cents

31.22 points

Eco-bag

THE city government has forged a partnership with four big supermarkets for the implementation of an eco-bag project in Cagayan de Oro City. The City Council during its regular session last Monday presided over by Vice Mayor Caesar Ian E. Acenas has enacted an ordinance authorizing Mayor Vicente Emano to enter into a memorandum of agreement (MOA) with Savemore, Gaisano, Ororama and Robinsons for the purpose of creating a unified, environment-friendly bag. The legislation was endorsed by the committees on environment and on laws and rules chaired by Councilors President D. Elipe and Ramon G. Tabor, respectively, as an environmental conservation project, which aims to reduce pollution caused by non-biodegradable plastic bag waste.

By BONG FABE, Correspondent

C

HARTER change (Chacha) may not be President Aquino’ s priority but once he is convinced of the wisdom of such initiative, especially because of the high trust of the people in his administration, there will be no hindering it and along with it the Philippines’ economic progress.

Rep. Leo Loreto Ocampos (2nd District, Misamis Occidental), chairman of the House Committee on Constitutional Amendment, once again debunked speculations and reports that there are some evil and hidden agenda behind the Cha-cha moves, especially since the midterm election is just around the corner. Ocampos agreed with Foreign Affairs

Misor LGU welcomes NGCP investment in Opol Substation

Salary hike

ON pay day this August 15, city hall officials and employees will start receiving another salary increase, representing the third installment of the third round of the Salary Standardization Law 3, or Republic Act 6758. Mayor Vicente Emano said the city government has prioritized this and earmarked funds for the purpose to augment the income of local government employees and to help their respective families. “The city government has worked hard in looking for enough funds intended for the salary increases to encourage officers and employees in providing better services to the people, along with the optimism in providing them the comfort to their families,” he added.

By MIKE BANOS, Correspondent

UPSIDE DOWN. A billboard inadvertently installed upside down along Marcos Bridge in Cagayan de Oro City. Despite the hazards it pose to motorists and pedestrians especially during heavy rains and typhoons, advertising billboards and huge tarpaulins continue to flourish in big cities and even in provinces. PHOTO BY GERRY GORIT

THE Misamis Oriental provincial government has welcomed the planned investment of the National Grid Corporation of the Philippines (NGCP) in Opol, Misamis Oriental as fully supportive of its 8-point Development Agenda for the province. “Synergy arising from teamwork which we

call “Kurambos” has been the driving force of this administration to push our development agenda of Poverty Alleviation, Revenue Generation, Infrastructure, Misortel Resuscitation, Education/Environment, Hospital/Health Services and Agricultural Productivity,” said Gov. Oscar S. Moreno. “We are happy to welcome NGCP to the ranks of our Misamis Oriental NGCP/PAGE 10

AboitizPower posts P12.2-b net income for first-half 2012 ABOITIZPOWER disclosed a net income of P12.2 billion for the first half of 2012, representing a 15-percent growth over the same period last year.

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Secretary Albert del Rosario who said that the Constitution’s restriction on foreign ownership is preventing the Philippines from developing further. “Our intention is just to remove the restrictions [imposed by the Constitution on foreign ownership of companies] to make our economic policies more flexible,” he told BusinessWeek Mindanao. He said that removing the restrictions “will invite more investors especially in big public utilities like ports, bridges and highways. Ocampos stressed that removing the 60:40 rule on foreign ownership will invite more investments and create more jobs in the country. “When people have jobs, they have money and when they have money, naturally they will spend it and invest it making our economy alive,” he added. Foreign investors eye the Philippines for its sustained economic growth, which was left POLICIES/PAGE 10

RICKY REYES & DAVID’S SALON Makati City

The power generation business contributed 89 percent of the listed company’s earnings, contributing P11.3 billion, 12 percent higher than last year.

The hotter climate, particularly in Luzon, was one of the factors that led to the increase in the demand for power. The ABOITIZ/PAGE 10

DOH: No New ‘Deadly’ Dengue Strain, but repeated infections by four strains now present in Normin could be deadly By MIKE BAÑOS, Correspondent

THE Department of Health’s unit in Region X charged with deadly diseases says there’s no ‘new and deadly’ strain of dengue in the

region as rumored by numerous posts in social media. However, repeated infections by the four strains now present in the city Ambuklao dam in Benguet, whose rehabilitacould be even deadlier than the tion was completed in first half of this year, DENGUE/PAGE 10 now produces 105-MW. PHOTO SUPPLIED


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BUSINESSWEEK MINDANAO AUGUST 10,2012 by BusinessWeek Mindanao - Issuu