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www.businessweekmindanao.com Issue No. 96, Volume III • August 6-9, 2012
Market Indicators AS OF 5:10 PM AUG. 3, 2012
FOREX
PHISIX
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Body formed to oversee Mindanao power woes
P360M CdO bridge
By IRENE DOMINGO, Reporter
WORKS for the construction of the 250-linear meter, P360million JR Borja bridge project will start on September, Mayor Vicente Emano said in a press statement. The mayor said the bridge project will link the heavily congested JR Borja to Barangay Carmen, one of the densely populated barangays in the city. The mayor has worked for the implementation of the project under a Spanish grant for six years. The P360-million project is one of the five bridges in Northern Mindanao that will be funded by the Spanish government. The funds are available for the proposed bridge project and for just compensation payments to lot owners whose properties are affected by this development, according to Congressman Jose Benjamin Benaldo of the 1st District.
M
ALACAÑANG has formally created a monitoring body that will coordinate government efforts to improve power supply in Mindanao.
Sunset silhouettes children playing along the shores of Kinoguitan in Misamis Oriental. HOTO BY SHAUN ALEJANDRAE YAP UY
Zambo Sur miners seek legal help against TVIRD
Milk processing plant
MALUNGON opened the province’s first milk processing plant on July 25 and is now being eyed as one of town’s tourist attractions, a top official said. “I conformed to the idea that this dairy plant must also be an attraction to travellers,” said Mayor Reynaldo Constantino who led the ribbon-cutting ceremony. He was assisted by Emmeline Versoza, executive director of Philippine Commission on Women; Governor Migs Dominguez, Councilor Armand Guilley, Perfecto Corpuz from United States Department of Agriculture (USDA) and Board Member Eleanor Saguiguit.
By BUTCH D. ENERIO and BONG FABE Correspondents
SMALL-SCALE miners in Zamboanga del Sur recently filed a petition for a writ of amparo with a prayer for temporary protection order with the Court of Appeals here, alleging that a multinational mining company is out to “neutralize” some of their members. The petitioners belonging to the Monte de Oro Small Scale Miners Association (Mossma) operating in Sitio Balabag, Barangay Depore Lawyer Glocelito Jayma claims in Bayog, Zamboanga del Sur, TVIRD officials out to disintegrate said they have uncovered a plan by the top management of TVI members of mining group. PHOTO BY BONG D . FABE Resource Development Philippines
Inc. (TVIRD), to systematically end the lives, eliminate and liquidate the petitioners under the respondents’ “Oplan Bongkag” (Operation Destruction). The petitioners said they uncovered Oplan Bonkag through a series of electronic mail exchanges between certain officers of TVIRD. The group alleged that certain individuals in the payroll of the TVIRD executives constantly keep them under surveillance, tailing them during travels, and watching their residences and places of work by suspicious-looking men on motorcycles. Edgar Balingit, a member MossMINERS/PAGE 10
President Benigno Aquino III signed Executive Order No. 81 on July 30 establishing the Mindanao Power Monitoring Committee (MPMC) which is tasked to “monitor, harmonize and integrate recommendations designed to address the concerns of the Mindanao power industry sector,” Executive Secretary Paquito N. Ochoa, Jr. said in a statement. “The President approved the formation of the MPMC since there is a need for a team or a body that will study the feasibility of recommendations to address the power BODY/PAGE 10
Davao Region’s economy up 4.1% By JEANEVIVE D. ABANGAN Contributor
DAVAO City -- Davao Region’s grew in 2011 but at a much slower pace of 4.1 percent than the 5.0 percent rate in 2010 due to slowdowns of the industry and the service sectors. The region’s gross regional domestic product (GRDP) in 2011 grew by P8.9 billion in 2011 to P224.8 billion, from P215.9 billion in 2010 based on data of the National Statistical Coordination Board (NSCB) XI. NSCB XI attributed the slow growth of Davao Region’s economy to the deceleration of services ECONOMY/PAGE 10
High-rise buildings, IT Park up in Davao Beside U.C.C.P., C.M. Recto Ave., Nat’l Highway, Cag. de Oro City
Cell No.: 0917-304-6195
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RICKY REYES & DAVID’S SALON Makati City
DAVAO City –- More highrise buildings and another IT Park constructions are underway or in the pipeline in this city. Recently, the RPRP Ventures Management and Development Corporation BUILDINGS/PAGE 10