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BusinessWeek
YOUR LOCAL ONLINE BUSINESS PAPER
www.businessweekmindanao.com Issue No. 31, Volume III • December 9-11, 2011
Market Indicators
AS OF 5:43 P.M., DEC. 7, 2011 (Wednesday)
FOREX
PHISIX
US$1 = P43.38
4,315.17 points
; ; Briefly 8 cents
32.40 points
Mining policy
DAVAO City -- The government will have a clear mining policy in six months, said Budget Secretary Florencio B. Abad who was in the city on Monday to attend a civil society forum on the conditional cash transfer program. A clear mining policy should tackle the small share given to LGUs. Mr. Abad said that a team formed by President Benigno S. C. Aquino III to draft the administration’s mineral resource extraction policy is now finalizing points that would form part of the framework. Among the points of consideration, Mr. Abad said, “is on the revenue that goes to local government units (LGUs).”
Butuan biz permits
BUTUAN City -- Businessmen and entrepreneurs here were urged to renew their permits early in January next year to avoid penalties. This was the call made by Mr. Paul Cabrera, chief of the licensing and permit division of the city government here, in an interview with a local radio here. Cabrera said the deadline for the permit renewal is on January 20, 2011. Aside from the businessmen and entrepreneurs, Cabrera also called the attention of tricycle operators to do the same.
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Normin’s exports up by 6% percent in 3Q By APIPA BAGUMBARAN, Contributor
N
ORTHERN Mindanao’s exports industry continues to grow as it posted a total of US$251.22 million worth of products during the third quarter of 2011, or an increase of 5.59 percent compared to the US$237.93 million worth of exports during the same period last year. Misamis Oriental contributed the biggest share in the total exports with US$139.36 million or 55.47 percent, followed by Lanao del Norte and Bukidnon sharing US$67.3 million or
26.79 percent and US$44.2 million or 17.59 percent, respectively. In terms of growth rate, Bukidnon registered the highest rate at 601.59 percent while Misamis Occi-
dental recorded the highest negative growth rate at 99.24 percent followed by Camiguin at negative 33.33 percent. The positive growth rate of Bukidnon was due to the increase of exports of sugar cane products which is one of the province’s major exports, said Engr. Cecilio Y. Clarete, Knowledge Management Division Chief of the National Economic Development Authority (NEDA) in Northern Mindanao during the Media Northern Mindanao exports posted a 6% growth in the EXPORTS/PAGE 10 third quarter of this year.
Task Force inks accord vs illegal mining By BUTCH D.ENERIO Correspondent
TAKING cognizance of the continued deterioration of a river here due to illegal mining, the composite investigation team (CIT), whose members come from the local government units(LGUs) and government line agencies, the academe, the religious sector, the armed forces and the law enforcers, recently signed a memorandum of agreement (MOA) to effectively enforce environmental laws. The MOA, which was signed on Dec.1 at the Department of Environment and Natural Resources in northern Mindanao, Aerial view of the mining site upper Iponan river where the discoloration of the water for decades now due to severe siltation, is visible. MINING/PAGE 10 PHOTO CONTRIBUTED BY JUN QUIBLAT
Collaborations to bring down power rates cited THE consumer group which successfully intervened with the local power utility’s application for rate adjustment with the Energy Regulatory Commission has cited the unprecedented level of cooperation with the government agency and the utility which resulted in lower power rates for consumers in the franchise area for the next four years. “Our group wishes to commend the Cagayan Electric Power and Light Company (CEPALCO) and the Energy Regulatory Commission (ERC) for being patient with us and walking us through the Performance Based RegulaPOWER/PAGE 4
Rice varieties that can stand drought, floods By CARMELITO Q. FRANCISCO Correspondent
DAVAO City -- The regional office of the Department of Agriculture is conducting field trials on rice varieties that can withstand drought or flooding and can grow in coastal areas. The department’s Regional Research and Development Unit said in a statement the tests would include RC 194 rice seed that grows in flooded areas like the towns of Dujali and
New Corella in Davao del Norte. Another variety, identified as RC 11 can withstand dry spells and is suitable for farms in Matanao and Kiblawan in Davao del Sur, the department said. Another variety that is being considered grows on farms located near the seashore like those now planted in the coastal towns of Davao Oriental and Davao del Sur. Oscar O. Parawan, Ag- New varieties of rice with high resistance to extreme RICE/PAGE 10 weathers are now being developed.