BusinessWeek
YOUR LOCAL ONLINE BUSINESS PAPER
www.businessweekmindanao.com Issue No. 116, Volume III • Oct. 15-18, 2012
Market Indicators AS OF 5:57 PM OCT. 12, 2012
FOREX
PHISIX
US$1 = P41.47
5,369.72
; ; Briefly 13 cents
16.25 points
Housing fair
THE government housing agencies are inviting those who are planning to acquire a house to visit the Housing Fair slated October 22-26, this year. Grace Ceres B. Saniel, Housing and Urban Development Coordinating Council (HUDCC) Region 10 Coordinator, said the housing fair will be held at the Training Hall of the Pag-IBIG Cagayan de Oro Office located in JR Borja-Mortola Streets. She said the city government, the HUDCC together and the other housing agencies such as the Housing and Land Use Regulatory Board (HLURB), National Housing Authority (NHA), Home Development Mutual Fund (HDMF), National Home Mortgage Finance Corporation (NHMFC), Social Housing Finance Corporation (SHFC) will hold clinic to respond to queries and concerns on housing during the fair.
Tax exemption
AGUSAN del Sur -- Caraga Regional Development Council will support the proposal to increase the P30,000 tax exemption ceiling benefits of government employees to P60,000 as previously proposed by the joint Regional Development Council 2 (RDC 2)– Regional Peace and Order Council (RPOC). A written endorsement presented by Butuan City Mayor Ferdinand Amante Jr. states that the RDC2 and RPOC Resolution No. 02-39-2012 series of 2012 increasing the tax exemption takes into consideration the current economic trends to include inflation rate, purchasing power, average income, expenditures and savings, and poverty threshold and incidence. In a meeting last September 12 by the RDC Development Administration Committee that Amante chairs, the expression of support to the joint RDC 2 – RPOC resolution No. 02-39-2012 series of 2012 was raised.
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2 Iloilo power barges deployed in M’danao By CARMELITO Q. FRANCISCO, Correspondent
D
AVAO City -- The continuing dip of Mindanao’s power output has prompted the national government to transfer to Mindanao two power barges now stationed in the province of Iloilo in Western Visayas.
Milfrance Q. Capulong, National Grid Corp. of the Philippines (NGCP) corporate communications officer for Mindanao, said the plan is to moor the two power barges,
each with 100 megawatts (MW), in the cities of Cagayan de Oro in the province of Misamis Oriental and General Santos in the province of South Cotabato so they can serve
areas that need more power supply. The General Santos City and the rest of the Sarangani-South Cotabato-Sultan Kudarat area is on the end of the transmission system thus is the last to get whatever power is left in the power grid, Ms. Capulong explained. Cagayan de Oro City, on the other hand, is near where the Steag coal-fired power complex is located and where demand for power has Napocor’s power barges moored been increasing significantly. in Iloilo City will be transferred to BARGES/PAGE 6 Mindanao.
CdO spared from rotating brownout By ELAINE O. RATUNIL, Contributor
DESPITE the preventive maintenance shutdown of two generation units of the Steag State Power Inc (SPI), residents of Cagayan de Oro should not worry as this will not result to rotating brownouts. This was assured by President D. Elipe in his special report during the City Council regular session Tuesday. The councilor, who chairs the committee on energy, said shutdown of the 105 megawatt (MW) coal-fired power plant in Villanueva, Misamis Oriental started last Oct. 6 and will last until Oct. 29. Panoramic view of Macajalar Bay from the view deck of the Laguindingan International Airport in Lagu- Meanwhile the coal power plant’s indingan, Misamis Oriental. The almost complete international standard airport is expected to start com- Unit 2 105 MW plant is due for mercial operation by the end of next year. PHOTO BY BUTCH ENERIO CDO/PAGE 6
Aboitiz’s coal plant seeking connection to M’danao grid ABOITIZ Power Corp. has sought regulatory approval for filed an application before the Energy Regulatory the construction of connection facilities that will link its Commission for the construction of power lines coal-fired power plant in Davao to the Mindanao grid. and other related assets worth an estimated P80 Cepalco’s Minergy will save CagayThrough wholly-owned unit Therma South Inc., AP CAOL/PAGE 6 an de Oro from rotating brownout.
Mindanao peace caravan arrives in Manila to witness peace accord • Group to witness today the signing of the breakthrough Framework Agreement on Bangsamoro van (Peace Caravan) finally arrived in Manila to witness A MINDANAO contingent the historic signing of the of the Lakbay Kalinaw Cara- Framework Agreement on
By BONG FABE, Correspondent
Bangsamoro between Presi- Front, in Malacanang today. and faiths in Mindanao take “Young and old, wom- the long [road] journey to dent Aquino and Ibrahim Murad, chairman of the en and men, Muslims and convey to the world that we Moro Islamic Liberation Christians from all tribes BANGSAMORO/PAGE 6