BusinessWeek Mindanao Dec 16 issue

Page 1

Are you looking for a better tabloid newspaper in Mindanao for the promotion of your products and services intended for C,D & E markets?

INDANAO

AILY

Mindanao Daily Balita (MDB) is the right choice! For such ad placements, you are exposed through the following regional editions;

MDB CAGAYAN DE ORO/MISOR, MDB BUKIDNON, MDB WESTMIN, MDB DAVAO CITY and MDB CARAGA REGION MDB newspaper virtual e-copy is also available online for FREE reading, worldwide Just log on to http://www.mindanaodailybalita.com/ ADVERTISING: 0917-7121424

BusinessWeek

YOUR LOCAL ONLINE BUSINESS PAPER

www.businessweekmindanao.com Issue No. 33, Volume III • December 16-18, 2011 Editorial: 088-856-3344

Market Indicators

AS OF 5:43 P.M., DEC. 14, 2011 (Wednesday)

FOREX

PHISIX

US$1 = P43.56

4,285.93 points

; ; Briefly 5 cents

3.31 points

Chinese investors

DAVAO City -- Chinese investors have expressed interest in agribusiness and mining in Compostela Valley, said Gov. Arturo T. Uy who led a provincial trade mission to China last month. provincial information office said investors from Xiamen are looking at the town of Laak as a possible site for a banana plantation. “They have expressed willingness to invest after they were briefed by Mr. Uy on the business opportunities in his province,” the statement said, adding Chinese investors are already planning to visit the province although they have yet to specify a date. “We are looking forward to their visit to see the potentials of our province,” Mr. Uy said in a text message.

Power plant

THE Association of Mindanao Rural Electric Cooperatives (Amreco) is planning to put up a 300-megawatt (MW) coal-fired power plant, Energy Undersecretary Josefina Asirit told reporters. In a recent interview, the DOE official said Amreco wants to put up a base-load power plant. Base-load power plants refer to those operating on a maximum electricity output at all times and at low cost. These plants can be coal, hydro, geothermal, combined cycle, among others. Asirit added that the electric cooperatives play a significant role in providing additional power in Mindanao.

NOW OPEN EN Market City, Agora

Advertising: 0917-7121424

P15.00

Davao dads reverse veto vs Aboitiz plant By CARMELITO Q. FRANCISCO, Correspondent with NELSON V. CONSTANTINO, Editor-in-Chief

D

AVAO City -- Aboitiz Power Corp. will be allowed to build its 300-megawatt, coal-fired power plant after all with the city council deciding on Monday to reverse a veto issued by Mayor Sara Z. Duterte-Carpio against the project.

Twenty-one of the 26 councilors voted to override Ms. Duterte-Carpio’s decision against a land reclassification that would have allowed Aboitiz Power to put up its P25-billion plant. The council vote in effect affirms an ordinance that reclassifed a lot in Barangay Binugao, Toril District from medium industrial zone to protected heavy industrial

zone. Based on the Local Government Code of 1991, the city council, with a vote of two-thirds can override the veto of the mayor. Some of the councilors who did not vote on the override, including lone opposition to the project Leah A. Librado, were absent, while others were on PLANT/PAGE 13

Ex-Press Sec. Bunye to chair M’danao biz Leaders’ Awards By RUEL PELONE, Online Editor

FORMER Press Secretary Ignacio “Toting” Bunye has accepted the invitation to join the Board of Judges in the ongoing Search for Mindanao Entrepreneurs and Outstanding Business Leaders. In a letter to BusinessWeek Mindanao publisher

Dante Sudaria, dated December 13, Bunye, who is presently Monetary Board Member of the Central Bank of the Philippines, agreed to chair the Board of Judges for the Search. Bunye has been writing columns for BusinessWeek AWARDS/PAGE 13

VETO OVERTURNED. Twenty-one members of the 16th Council of Davao City vote yes to approve the construction of a coal-fired power plant in Toril on Monday, Dec. 12, reversing the earlier veto by City Mayor Sara Duterte-Carpio on the land reclassification ordinance. PHOTO COURTESY OF MINDANEWS

Investments in Normin reach P1.99-B in 3Q By APIPA BAGUMBARAN Contributor

A TOTAL of P1.99 billion investment was poured in Northern Mindanao during the third quarter of 2011. Business Name Registrations, one of the indicators for new investments, accounted 15.21 percent of the regional total investments with Php302.30 million, while Investment Promotion Center shared 19.59 percent with Php389.50 million. LGU investments initiatives accounted 7.16 per-

cent or Php142.34 million; Banks with 3.26 percent or Php64.76 million; Financing with 2.89 percent or Php57.43 million; and SME/OTOP projects with 1.81 percent or Php36.04 million, while 49.07 percent or Php974.45 million came from other multi-sources investments. Engr. Cecilio Y. Clarete, Knowledge Management Division Chief of the National Economic Development Authority (NEDA), in region 10, said Misamis Occidental and Lanao del Norte con-

tributed 30 percent share each with Php598.98 million and Php592.58 million, respectively, followed by Bukidnon with 29 percent share or Php 571 million. Misamis Oriental only contributed nine percent with P179 million while Camiguin’s shared Php45.68, only two percent of the total regional investments, he added. Business name registration comprises 11 percent of the total investments in Misamis Occidental while INVESTMENTS/PAGE 14

Gov’t disbursements climb to P41.6 billion By ALLAN M. MEDIANTE Executive Editor

BUDGET and Management Secretary Florencio B. Abad bared this week that some P41.66 billion had already been disbursed by agencies and GOCCs since October 12, when the President approved the Disbursement Acceleration Plan. This is about P15 billion or 56 percent higher than the P26.64-billion disbursement

level as of November 8. “The DBM is now targeting further funding releases in the amount of P4.1 billion and a minimum of P5 billion in actual disbursements to reach 65 percent of the Disbursement Acceleration Plan (DAP) by mid-December, as earlier committed to the President,” Abad said. In line with its goal to step up government spendDISBURSEMENTS/PAGE 14


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.