BusinessWeek
YOUR LOCAL ONLINE BUSINESS PAPER
www.businessweekmindanao.com Issue No. 35, Volume III • Dec. 30, 2011-Jan. 1, 2012
Market Indicators
AS OF 5:23 P.M., DEC. 28, 2011 (Wednesday)
FOREX
PHISIX
US$1 = P43.58
4,336.63 points
24.80 points
;
6 cents
;
Briefly Livelihood for displaced workers
PRESIDENTIAL Communications Operations Office (PCOO) Secretary Herminio “Sonny” B. Coloma Jr. said the government has allocated necessary funds to help the affected workers here to recover from the illeffects of the devastation wrought by tropical storm “Sendong” that hit the Northern Mindanao region over the past weeks. Coloma said the Department of Labor and Employment (DOLE) led by Secretary Rosalinda Baldoz will be releasing at least P3 million for livelihood assistance to the displaced workers in the area. “Within this week, for some 327 affected workers dito sa area na ito ay magrerelease ang DOLE ng three million pesos na livelihood starter kit para matulungan sila na magbagong tatag ng kani-kanilang mga buhay,” Coloma said.
Imports up
THE country’s merchandise imports expanded by 2.3 percent in October compared to a year ago, according to the National Statistics Office (NSO). Data from NSO showed that the total merchandise imports for October amounted to $ 5.019 billion from $ 4.904 billion last year. Month-on-month, however, it dropped by 1.1 percent from $ 5.076 billion in September this year. This led imports in the first 10 months of the year to grow by 12.2 percent to $ 50.521 billion compared to $ 45.028 billion posted during the same period last year.
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Mindanao biz groups back open pit mining T
HE Mindanao chapters of the Philippine Chamber of Commerce and Industry are backing calls to repeal bans on open pit mining imposed by local governments in the south.
In a joint statement, the Dipolog Chamber of Commerce and Industry, PCCI Western Mindanao and PCCI Mindanao, said imposing “inconsistent policies and rules” is not good since this makes the business environment unstable. “Such volatility will scare away investors from our country,” they said. PCCI said it has included mining among the key industries that would help boost Philippine economy, RAMPAGE. Houses swept away by floods overflowing the Pulangui River in Valencia citing President Benigno City, Bukidnon on Tuesday after continuous rains caused by a Low Pressure Area Aquino III’s declaration on inundated several provinces in the Visayas and Mindanao area. October 20 in Palo, Leyte PHOTO COURTESY OF ARNOLD MANABAT
in support of responsible large-scale mining operations. The chamber also quoted Aquino as saying the spread of small-scale mining operations would be difficult to check because of their numbers. “Mining is an extractive industry and by its very nature has direct and indirect impacts on the environment, whether it is open pit, tunnel or any other mining method. These impacts, however, are known and can be mitigated,” PCCI said. MINING/PAGE 13
Aboitiz commits P11-M for CdO, Iligan Govt to build houses By CARINA L. CAYON Contributor
THE Aboitiz Foundation has committed over P11 million in relief and rebuilding efforts for the cities of Cagayan de Oro and Iligan, which were severely devastated by tropical storm Sendong. Ab oitiz Foundation ch ai r m an Jon R amon Aboitiz said in a press release that the Foundation has already donated to the
relief efforts of the local government units. Aboitiz cited that over 11,000 packs of relief supplies have been distributed to an estimated 80 evacuation sites and affected areas in both cities. With the help of its partner-organizations, the foundation immediately distributed almost 6,000 bottles of drinking water in evacuation centers and affected communities, he said.
Aboitiz said the Aboitiz Group companies nationwide have pitched in the effort by sending cash and in kind donations such as canned goods and other food items, clothes, blankets, slippers and assorted medicines, among others. “We share in the grief of our countrymen in Cagayan de Oro and Iligan and we hope we can somehow lighten the burden of the communities affected by ABOITIZ/PAGE 13
for Sendong victims By ALLAN M. MEDIANTE Executive Editor
BUNKHOUSES, for families displaced by floods triggered by tropical storm “Sendong” will be built by the government starting last week of this month. The Department of Social Welfare and Development (DSWD) and the Department of National Defense (DND) will spearhead the construction of the bunkhouses. Ten (10) units are expected to be constructed in Cagayan de Oro and Iligan cities before the yesar ends, according to Social Welfare Secretary Corazon Soliman. VICTIMS/PAGE 13
MAKESHIFT BARGE. With the bridge swept by Sendong’s rampaging floodwater, volunteers had to resort riding “gakit” or a makeshift barge just to bring food, medicine and relief goods to the remote village of Lingating in Baungon, Bukidnon. PHOTO BY MARITES SOTELO - PAIA