BUSINESSWEEK MINDANAO OCT.1,2012

Page 1

BusinessWeek

YOUR LOCAL ONLINE BUSINESS PAPER

www.businessweekmindanao.com Issue No. 112, Volume III • Oct. 1-4, 2012

Market Indicators AS OF 5:56 PM SEPT. 28, 2012

FOREX

PHISIX

US$1 = P41.70

5,346.10

; ; Briefly 17 cents

44.61 points

PPP workshop

THE Public Private Partnership (PPP) Center of the Philippines, the Department of the Interior and Local Government (DILG) - 10, and the National Economic and Development Authority (NEDA) - 10, will conduct an Orientation Workshop on Public Private Partnership program on October 2-3 in Pearlmont Hotel, this city. Said orientation aims to provide basic understanding on the fundamentals of public private partnership as well as various aspects the Center offers to facilitate the development of PPP projects. The PPP program has been identified by government as one of its key strategies in achieving national development by realizing critical infrastructure and development projects at the national and local levels.

Bracing for El Niño

DAVAO City -- An officer of the Department of Agriculture urged farmers to plant ahead to cope with the impact of the El Nino phenomenon, which is projected to come in January 2013. The El Niño, which is caused by an abnormal warming of surface ocean waters in the eastern tropical Pacific, will initially cause below-normal rainfall that would later progress into drier conditions. Speaking in the initial press briefing of the 8th Corn Congress at the Waterfront Insular Hotel, Assistant Secretary Edilberto de Luna said the agricultural sector, especially the farmers, must learn to adapt with climate change by planting ahead while ample supply of water is available.

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Business as usual:

Low-cost airliners seen to dominate Oro’s sky • Airphil to join the frey as PAL stops Manila-Cagayan de Oro flights starting Oct. 28 By PED T. QUIAMJOT, Contributor

W Air Express Philippines (Airphil) will slug it out with other low-cost airliners as it takes the cudgel for Philippine Airlines (PAL) as it cease its Cagayan de Oro-Manila flights and vice-versa starting Oct. 28.

ITH the boom for low-cost airlines cornering about 80% of air passenger market in Northern Mindanao, the newly re-established Air Express Philippines will pick up the brunt of serving the Cagayan de Oro-Manila flights and vice versa upon the stoppage of the Philippines Airlines flights here starting October 28, this year.

Reliable inside sources allayed fears of the business community and the travel agencies selling the Philippine Airlines services in the city that there will be no vacuum on airline travel. With the acquisition of its new Airbus 320’s, Air Phil Express, which also offers cheaper fare along with rival Cebu Pacific Air and AIRLINERS/PAGE 7

Napocor restores Agus hydro power units By IRENE DOMINGO, Reporter

MINDANAO power consumers can now be assured of a more stable power supply with the restoration of the damaged generating units of the Agus hydroelectric power complex, the National Power Corporation said on Thursday. In a report, state-owned Napocor said that repair work is already complete on generating units that earlier caught fire, allowing the company to provide 175 megawatts to the Mindanao grid. The Agus 6 and 7 plants were cut off from the grid on September 1 after a fire broke out at the control cable tunnel leading to the facilities’ switchyard. “As of last Friday, the cause of the fire which destroyed the control cables was still being investigated by the Fire Department of the City of Iligan,” Napocor said. HYDRO/PAGE 7

DIYANDI. Former Rep. Cynthia Villar of Las Pinas City led the ceremonial bang to signal the start of the “Kasadya” showdown competition Thursday at Anahaw Amphitheater in Palao. Iligan City. With Villar are Jonathan Versoza, chairman of Kasadya of Iligan Jaycees, Councilor Marlene Young and Marianito Alemana, chairman Diyandi Executive Management Board . PHOTO BY RICHEL V . UMEL

SM opens 2nd mall in Davao SM Prime Holdings Inc. began Friday commercial operations of its new mall in Davao, expanding the company’s shopping mall network to 46 nationwide. In a statement, the Henry Sy-led mall developer and operator said SM Lanang Premier is already 88 per-

cent occupied by various tenants and will have a gross floor area of 144,000 square meters. Located at J.P. Laurel Avenue, Barangay Lanang, Davao City, SM Lanang have an SM Department Store and an SM Supermarket SM/PAGE 7


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