Businessweek Mindanaojan 13

Page 1

BusinessWeek

YOUR LOCAL ONLINE BUSINESS PAPER

www.businessweekmindanao.com Issue No. 39, Volume III • January 13-15, 2012

Market Indicators

AS OF 5:30 P.M., JAN. 11, 2012 (Wednesday)

FOREX

PHISIX

US$1 = P43.98

4,645.86 points

; ; Briefly 7 cents

84.78 points

‘Pantawid Pasada’

Energy Secretary Jose Rene Almendras is ready to reload the “Pantawid Pasada” cards to cushion the impact of rising fuel prices. If needed, Almendras said he will ask the Cabinet Economic Cluster to reload the cards for a third time, to shield public jeepney drivers from spikes in fuel prices. The government’s “Pantawid Pasada” program was created to provide a subsidy for the public transport sector, amid the rising oil prices. “Pantawid Pasada” cards were distributed to qualified jeepney drivers, who would be able to avail of fuel discounts.

Power congress

PUBLIC discussions on good governance, knowledge product and finance and investment will set the tone for the Mindanao Congress of the Advocates for Renewable Energy, Rural Electrification and Development (MinCARED). To be held at Grand Caprice Restaurant, Cagayan de Oro City on Jan. 25-27, the three-day congress sponsored by the Association of the Mindanao Rural Electric Cooperatives (AMRECO) will be attended by some 300 stakeholders. Topics on “Transparency of Distribution Utilities” will be tackled on the first day by Zenaida G. Ducut, Chairperson of the Energy Regulatory Commission while “The Politics in the Electric Cooperatives” will be discussed by Congressman Lorenzo Tañada III, Deputy Speaker, House of Representatives. Under knowledge products, “Research and Study Grants for the Mindanao Power Sector” will be tackled by USAID and “The Upcoming 84 Days A Year Brown Out” by Prof. Rowaldo del Mundo of the University of the Philippines National Engineering Center.

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Aboitiz to help M’nao during power outages

By BUTCH D. ENERIO Correspondent and NELSON V. CONSTANTINO Editor-in-Chief

O

NE of the c o u n t r y ’s leading power generators said it would maximize its capacity to lessen the shortage of power in Mindanao. In a statement, Aboitiz Power (AP) announced that its diesel power barges in Agusan and Compostela Valley can deliver vital power to utilities to keep industries running as well as households lighted. AP’s subsidiary Therma Marine Inc.’s (TMI) said in a statement that its power barges in Nasipit, Agusan del Norte and Maco, Compostela Valley have a total capacity of 200 megawatts (MW). AP said that during the latest power shortage in Mindanao, the TMI barges provided vital energy to utilities like Davao Oriental Electric Cooperative (Doreco) and Davao del Norte Electric Cooperative (Daneco), among others. Jovy Batiquin, TMI chief operating officer, said that although the traditional role of diesel power barges is to run for peak hours and ABOITIZ/PAGE 8

Mindanao is seen to experience another rounds of brownouts as power generation continues to slide while the demand is rising.

‘Sendong’ leaves P969.35-M worth of damages By RUTCHIE CABAHUG-AGUHOB Contributor

OZAMIZ City -- At least 30 infrastructure projects worth Php969.35M were damaged by Typhoon Send-

No fuel increase for CDO, Iligan: DOE By JORIE C. VALCORZA Contributor

THE Department of Energy (DOE) has reiterated that prize freeze remains in effect for gasoline and other petroleum products here in Cagayan de Oro and Iligan City until the national state of calamity is lifted. DOE Undersecretary Atty. Jose M. Layug, Jr. conInfluenced by positive investor sentiment toward the firmed the commitment of country’s economic prospects, traders at the Philippine Stock Exchange in Makati on Wednesday react as shares the three leading industry rise amid moderately active trading. FUEL/PAGE 8

ong in Northern Mindanao. Reports reaching the Regional Disaster Risk Reduction and Management Council (RDRRMC) in the region from the DepartSENDONG/PAGE 8

Primavera Tower A nears completion TOWER A of the Primavera Residences twin tower condominium project is now at least 70% complete and is expected to be finished and ready for turn over to unit buyers by June this year. As an eco-friendly building, Primavera Residences applies state-of-the-art energy saving design that offer at least 20% reduction in energy consumption. The Italian-designed 10-storey eco-friendly condominiums are constructed along the principles of sustainable architecture such as generating its own energy through solar cells at its rooftop, minimizing power usage, and maximizing natural light and TOWER/PAGE 9


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