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www.businessweekmindanao.com Issue No. 86, Volume III • July 1-5, 2012
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Market Indicators AS OF 5:55 PM JUNE 30, 2012
FOREX
PHISIX
US$1 = P42.12
5,246.41
9.74 points
;
; Briefly 22 cents
Banana king dies THE Philippines’ banana king Don Antonio O. Floirendo Sr. passed away at 6:50 p.m. on Friday. He was 96. His remains will be at 88 Cambridge Circle, Forbes Park in Makati City on Saturday and Sunday. His body will be brought to Davao on Monday. Don Antonio is the father-in-law of Margie Moran, Miss Universe 1973. His son ‘Tony Boy’, husband of Moran, served as congressman of Davao del Norte.
Spanish grant BUTUAN City -- Caraga once again becomes a recipient of an international grant as the Department of Social Welfare and Development (DSWD) finalizes a memorandum of agreement (MOA) with the Spanish government and three local government units (LGUs) here this month to complement the implementation of Pantawid Pamilyang Pilipino Program. Now on its seventh and final year of implementing the community-driven development (CDD) project Poder, Agencia Espanola Cooperacion Internacional para el Desarollo (AECID) will be giving a new grant of P12.4 million for development projects in the region, according to Regional Project Coordinator Elsa D. Montemor.
By MIKE BAÑOS Correspondent
T
HE Misamis Oriental provincial leadership has hailed the recent groundbreaking for a new facility of a heavy equipment yard in the province as an indication of the robust health of the region’s economy.
Monark executives (L-R) Ana Banson-Pastelero, Vice Chair; Gem C. Ridual, El Salvador Project Head and Jose Leonardo A. Austria,CDO Branch Manager lead the ground breaking of the company's new heavy equipment yard in El Salvador City. PHOTO SUPPLIED
USAID launches new cities dev’t initiative
“We wish to extend our thanks to Monark Equipment for their trust and confidence choosing Misamis Oriental for the site of their biggest facility outside Metro Manila,” said Gov. Oscar S. Moreno. “This is a vote of confidence not only for El Salvador and Misamis Oriental but North-
3M Pinoy kids in hazardous work
By BUTCH D. ENERIO Correspondent CONTINUING its support to see the country’s economic growth flourish, the United States Agency for International Development (USAID) launched here Friday its Cities Development Initiative (CDI) program where a memorandum of understanding was signed by City Mayor Vicente Emano and Gloria Steele, USAID mission director. U.S Ambassador Harry K. Thomas, Jr., who witnessed the event, said that the CDI is the US contribution to Cagayan de Oro’s commitment to grow its economy so that more people can benefit from education, from health, and from business opportunities while still taking care of the environment. “We will partner with government, the private sector and civil society to ensure our programs have positive impact. This initiative is just one of many facets of the U.S-Philippine partnership USAIDPAGE 10
ern Mindanao as well.” Monark executives led by Ana Feliza Banson-Pastelero, Vice Chair, broke ground for the multi-million facility last month in what the company bills its first major expansion outside the capital to meet the increasing demands of its clients from Zamboanga
City to Surigao. According to Project Head Gem C. Ridual, the new facility will be set up in a recently acquired one hectare facility in El Salvador City and will house an office, warehouse, stockyard for a new baywork and a provision for further expansion. “Even with the winding down of the Laguindingan airport construction, there is still an uptick of construction activities in the Northern MISOR/PAGE 10
Not only that children are exposed to hard labor, they are also prone to health hazards.
ABOUT 3 million Filipino children are employed in the most hazardous forms of work, the latest survey of the National Statistics Office (NSO) shows. Based on the 2011 Survey on Children of the NSO released to the public on Tuesday, the current number of children working in hazardous jobs grew from 2.4 million back in 2001. Of the 29 million Filipino children (aged 5-17 years old), 5.5 million are employed in various forms of labor. More boys are employed in dangerous work compared to girls, the study revealed. About 66.8 percent of child workers in hazardous work are boys, while 33.2 percent are girls. Regions with the highest incidence of hazardous
child labor are also some of the poorest areas in the country, which includes Central Luzon (10.6 percent), Bicol (10.2 percent), Western Visayas (8.5 percent), Northern Mindanao (8.2 percent) and Central Visayas (7.3 percent). “We have to get to the root of child labour which is linked with poverty and lack of decent and productive work,” said Director Lawrence Jeff Johnson of the International Labour Organization (ILO) Country Office for the Philippines. The ILO defined hazardous child work as “being likely to harm children's health, safety, or morals by its nature or circumstances.” “Children may be directly exposed to obvious work KIDS/PAGE 10
Mindanao firms get certification from US envoy By JORIE C. VALCORZA Contributor Beside U.C.C.P., C.M. Recto Ave., Nat’l Highway, Cag. de Oro City
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THE third batch of companies assisted by the United States Agency for International Development (USAID) has received their Hazard Analysis and Critical Control Points (HACCP) Certification.
U.S. Ambassador to the Philippines, Harry K. Thomas Jr. personally handover the HACCP certification to eight companies in Mindanao on Thursday in Cagayan de Oro City. The list includes Vjandep Corporation (Cagayan de
Oro), Perfectly Natural Herbs (Iligan), Lucille’s Food Products (Tagum, Davao del Norte, Renova Food Products (Davao City), Lao Integrated Farms (Davao del Sur), Magpet AgroIndustrial Cooperative (North Cotabato), San Isidro Fruits FIRMS/PAGE 11