BusinessWeek
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www.businessweekmindanao.com Issue No. 49, Volume III • February 17-19, 2012
FOREX
PHISIX 4,772.47 points
3.46 points
No pay hike yet
KORONADAL -- Stable prices of basic commodities have prompted the wage board to withhold action on a minimum pay raise petition in Central Mindanao, an official said. “Based on the [recent] consultation, prices of basic consumer goods have not moved except for a few, which may not be enough to warrant an increase in minimum wages [in the private sector],” Jessie M. Dela Cruz, secretary of the Regional Tripartite Wages and Productivity Board (RTWPB), said. The wage order for Region 12 was approved on Oct. 31, 2010. It directed a twotranche increase of P15 for the cost-of-living allowance.
Village energization
VILLANUEVA, Misamis Oriental – More villages in Northern Mindanao will soon have access to electricity. This developed after the Department of Energy (DOE) approved the energization of 68 more villages in the region following the allocation of some P24.6 million earmarked from the electrification fund of energy-firm STEAG State Power Inc. (SPI). While DOE indicates that 99.84% of Mindanao is already connected in terms of barangay electrification as of November 2011, the sitio level energization is still much wanting. “This electrification project hopefully will help generate jobs and stimulate small businesses in the countryside” said Steag comrel manager Ghaye Alegrio.
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By BONG FABE Correspondent
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; Briefly 11 cents
PHILIPPINE PRESS INSTITUTE
P15.00
Oro prelate calls for mining moratorium
Market Indicators
AS OF 4:30 P.M., FEB. 16, 2012 (Thursday)
US$1 = P42.64
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LEDESMA
THE highest official of the Roman Catholic church in Cagayan de Oro has reiterated the calls for a moratorium on mining even as he hit claims that mining
has not contributed to the devastation wrought by tropical storm Sendong last December. Mining industry defenders, like Mayor Vicente Emano and most members of the City Council, admitted that he had issued
“special permits” to mine several hectares in the city’s hinterlands and have not suspend these operations despite snowballing calls for him to halt theses operations. “I admit I have granted special permits, the law
allows me to do that. But [the mining operations] must not destroy the ecology,” Emano said, adding that he will only order the stop of all mining operations in the city if a study he said will be conducted CALLS/PAGE 9
Pepsi pours in P500M to expand CdO plant By NELSON V. CONSTANTINO, Editor-in-Chief
THE cola war rages on. Not to be outdone by its main rival, Coca-Cola, publicly-listed Pepsi-Cola Products Philippines, Inc. PCPPI), has invested P500 million to expand its operations in Cagayan de Oro aimed at reaching out to the Northern Mindanao region and other provinces in Mindanao. Pepsi’s Cagayan de Oro plant manager Virgilio Salvador said the multi-million peso investment in what is known as the “City of Golden Friendship,” demonstrates the company’s confidence in the region’s potential as a good product market. The company’s bottling plant in Brgy. Tin-ao began operations in 1967 and has expanded since, servicing more than 25,000 outlets across Mindanao. It covers the provinces of Misamis Oriental, Misamis Occidental, Camiguin, Bukidnon, the two Lanaos, Zamboanga del Sur, the Agusan provinces, the two Surigaos on the eastern seaboard and Dinagat. The state-of-the-art bottling line is capable of manufacturing both carbonated and non-carbonated Pepsi beverages in Cagayan de Oro, noted for its accessibility, business growth and tourism potential, and the nearby provinces. Pepsi carbonated beverages include Pepsi-Cola, Mirinda, 7Up, Mug Root PEPSI/PAGE 9
MASSIVE EXPANSION. Pepsi-Cola bottling plant in Brgy. Tin-ao in Cagayan de Oro is undergoing massive expansion and modernization with fresh P500 million investment. (FILE PHOTO)
Davao dad mulls a Wi-Fi zone city By CARMELITO Q. FRANCISCO Correspondent
DAVAO City -- A member of the local legislative council has proposed to make the entire city a Wi-Fi zone. But Vice-Mayor
Rodrigo R. Duterte, in his Sunday television program, said the problem with the proposal is that the city is huge at 244,000 hectares and that to convert it into a Wi-Fi zone will entail a huge investment.
Erriberto P. Barriga, Jr. of the Information and Communications Technology Association of Davao, however, said that contrary to the belief of the vice-mayor, there are already WI-FI/PAGE 7
Habitat opens second site WITH the commitment of building 6,000 houses for families affected by Typhoon Sendong, Habitat for Humanity (HFH) Philippines is opening its second site, a 10.99-hectare relocation area in Brgy. Indahag, Cagayan de Oro City. The land was awarded by the Cagayan de Oro local government to HFH Philippines will be a community for 1,700
families. A notice to proceed with the land development and construction of duplex houses has already been given to HFH Philippines by the city government. “Habitat will be having parallel construction in different locations so that all the 6,000 houses will be awarded to our homepartner families in six Habitat for Humanity model houses constructed HABITAT/PAGE 2 for typhoon Sendong victims in Brgy. Calaanan.