BusinessWeek
YOUR LOCAL ONLINE BUSINESS PAPER
www.businessweekmindanao.com Issue No. 110, Volume III • Sept. 28-30, 2012
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Market Indicators
AS OF 5:34 PM SEPT. 26, 2012 (Wednesday)
FOREX
PHISIX
US$1 = P41.73
5,321.12 points
4.48 points
;
; Briefly 3 cents
Davao’s BPO target
DAVAO City -- The information technology (IT) industry in Davao is bullish in attaining its BPO targets in 2016. ICT Davao an umbrella group of IT players in the city has pegged a target of 30,000 workers in the business process outsourcing industry by 2016. Currently BPO workers in Davao City is estimated at about 16,000. Wit Holganza, ICT Davao president said that last 2011 they registered a 26% increase in ICT workers in the city; they are expecting 30% more workers by 2012.
Rubber tapping
BUTUAN City -- Twentynine rubber farmers and tappers from Barangay Tungao attended the three-day training on proper rubber tapping, recently. The training focused on the techniques, skills, and proper methods in rubber tapping. The latter is critical in ensuring the quality and yield of rubber latex, and even the lifespan of rubber trees. The participants were also taught on characteristics and propagation techniques of rubber trees, rubber farm establishment, and rubber tree budding and its advantages from seed tree. The training was organized by the Department of Trade and Industry in cooperation with the local government of Butuan City and the officials of Barangay Tungao.
By IRENE DOMINGO, Reporter and APIPA P. BAGUMBARAN, Contributor
T
HERE are less underemployed persons in Northern Mindanao in the second quarter of this year compared to the same period last year, the National Economic and Development Authority-X (NEDA-10) said.
NEDA-10 chief economic development specialist Cecilio Y. Clarete said that Region 10 has 534,930 underemployment record in the previous quarter compared to 683,250
in the second quarter of last year or an underemployment rate of 26.67 percent from 34.81 percent. Clarete said the decline could be due to the 33 percent
employment growth in the manufacturing subsector and the 21 percent increases in both the electricity, gas and water, and the transport, communication and storage subsectors. The underemployed persons referred to people who aren’t working or looking for work, but want a job, and those who are working part-time because they can’t find a full-time position. A worker is considered underemployed when they are working at a job they are
over-qualified for, working part-time when they would prefer full-time work, or working at a low-wage job when they could, if jobs were available, be working more hours. Latest reports gathered by NEDA-10 from the Department of Labor and Employment (DOLE) show that the number of persons employed in manufacturing subsector went up from 85,000 to 113,000. Nine thousand persons were also employed in the
electricity, gas and water subsector during the quarter compared to the 7,000 persons employed in the same quarter of last year. Likewise, the number of employed persons in the transport, communication and storage subsector rose from 104,000 last year to 126,000 this year. Clarete said the higher employment increases in these subsectors, which provide more permanent or full-time employment, than RATE/PAGE 6
Big customers help Davao Light avoid rotating brownouts By BONG FABE, Correspondent
THANKS to its large institutional customers which use their own power generators during power curtailments, Davao Light and Power Company (DLP) has so far avoided implementing rotational service interruptions within its franchise. The National Grid Corporation of the Philippines (NGCP) has curtailed power supply to Mindanao for as high as 460 mW last August 5. On September 21, the power curtailment for the Mindanao Grid was only 130 mW. But with the onset of the El Nino phenomenon and the critical power supply situation in Mindanao, DLP believes that NGCP’s power curtailment to the Mindanao Grid will go up. However, DLP’s current set up with its large customers such as malls to operate their own generators instead of drawing power from the company’s distribution lines has enabled the company to avoid implementing brownouts. This set up also enables other customers without generating capacity to be able to utilize the power that would have been consumed by these large customers. CUSTOMERS/PAGE 6
UNDEREMPLOYMENT STILL PREVALENT. These young delivery boys were on their way back from work. Economic data showed that underemployment record in Northern Mindanao is improving compared to last year. PHOTO BY MIO CADE
BOI seeks investment in manufacturing sector THE Board of Investments (BOI) is encouraging more investments, particularly in the manufacturing sector. This was disclosed by BOI Governor Oliver B. Butalid in a media conference following the 2012 Investment Roadshow held here, last INVESTMENT/PAGE 6
Bottom-up budgeting enhances transparency in budget process By BONG FABE, Correspondent
“THE bottom-up budgeting process assures that public funds will be spent to intended programs benefitting target recipients to improve the social and economic well-being of citizens.”
With this, Sen. Teofisto “TG” Guingona III praised the Aquino administration for providing wider spaces to citizen participation for a more transparent and accountable governance through the bottom-up budgeting process. BUDGET/PAGE 6