BUSINESSWEEK MINDANAO SEPTEMBER 7,2012

Page 1

BusinessWeek

YOUR LOCAL ONLINE BUSINESS PAPER

www.businessweekmindanao.com Issue No. 105, Volume III • Sept. 7-9, 2012

Market Indicators

AS OF 5:46 PM SEPT. 6, 2012 (Wednesday)

FOREX

PHISIX

US$1 = P41.97

5,150.81 points

25.06 points

;

7 cents

;

Briefly Financial education

THE Bangko Sentral ng Pilipinas (BSP) in cooperation with the Overseas Workers Welfare Administration (OWWA) is currently conducting a financial learning program for overseas Filipino workers (OFWs) and their beneficiaries in Grand Caprice Restaurant and Convention Center, here. Dubbed “Paghahanda sa Kinabukasan,” the activity aims to educate OFWS and their beneficiaries on the importance of using remittances to build-up savings and in directing investments in financial products and business ventures. Through this, the BSP hopes to help overseas workers and their beneficiaries achieve financial independence and security, bring them into the fold of the formal financial system, and enable them to participate more meaningfully in the country’s economic development.

Helmet Law

BUTUAN City -- The Department of Trade and Industry (DTI) Caraga headed by Regional Director Brielgo Pagaran briefed the local tri-media on Republic Act No. 10054 known as the “Motorcycle Helmet Act of 2009,” held Monday at the DTI-Caraga conference room, this city. Atty. Maria Aurora CurazaMaquiling of DTI-Caraga, in coordination with the Land Transportation Office/Department of Transportation and Communications (LTO/DOTC) said, starting January 1, 2013, they will strictly implement the Motorcycle Helmet Act with corresponding penalties to motorists who will violate this law. Maquiling also clarified that said law does not exempt “habal-habal” (motorcycles with more than five passengers) drivers/riders, but only tricycle drivers.

*Limited to Silver 700, Gold 950, Platinum 1,150 and Premium HD 1,350 packages. Contract of 24 months lock in period z One month advance required.

Call: 8572663 762112 8573837

Editorial: 088-856-3344 • Advertising: 0917-7121424

P15.00

El Niño could worsen M’nao power supply By IRENE DOMINGO, Reporter

M

INDANAO’S already precarious power situation is bound to get worse as the Philippine weather bureau announced the probable start of the long dry spell or El Nino by this month.

A Philippine News Agency report says that “dynamical and statistical model forecast suggests the El Niño will likely develop in August or September, and will last through the rest of the year.” The report quoted Philippine Atmospheric Geophysical and Astronomical Services Administration (PAGASA) administrator Nathaniel Servando who said. warmer sea surface temperature has strengthened in the central and eastern equatorial Pacific ocean since June, which is a typical development stage of El Niño. Around 55-percent of Mindanao’s power comes from hydro power plants around Lake Lanao. The last time a severe El Nino hit Mindanao, many parts of the island suffered up to 12 hours of brownouts. At present, with all power plants in the grid running, Mindanao is already suffer-

SUPAFLY. An operator of the Supafly Cam by Kyxz Mendiola demonstrates the features of an airborne video camera at the opening of the 1st East Misor Business Forum and Trade Fair in Talisayan town, Misamis Oriental. The device is handled via remote control and can be used by business entities for security and surveillance of their establishments. It can fly as high as 25 feet off the PHOTO BY GERRY L . GORIT POWER/PAGE 10 ground.

Mindanao fire worsens power situation By CARMELITO Q FRANCISCO, Correspondent

Repairs are now going on Agus 6 tunnel caught by fire. ( PHOTO COURTESY OF PAUL RIMANDO)

DAVAO City -- Mindanao experienced a power deficiency of about 320 megawatts (MW) last weekend, the worst since 2010, data from the National Grid Corp. of the Philippines showed. “This was caused by a technical problem, which triggered the shutdown of Agus 6 switchyard in Iligan City,” the company said. Agus 6 has a capacity of 200 MW, while

Agus 7 has 54 MW. The National Power Corp. (Napocor) said a fire broke out at the control cable tunnel leading to the Maria Cristina Switchyard at about 10:20 p.m. of Sept. 1, damaging the control cables of Agus 6 and 7, and causing the generating units of the two power plants to trip, particularly Unit Nos. 3, 4, and 5 of Agus 6 and Unit No. 2 of Agus 7. On Monday, the Web site of the National Grid Corp. showed a power supply deficit FIRE/PAGE 10

Misor town hosts first agro fair By GERRY L. GORIT Reporter

MISAMIS Oriental -- For the first time in Talisayan town and in the entire first congressional district here, a business forum and trade fair for the farmers of the province is being held this

week. The 1st East Misor Business Forum and Trade Fair opened Monday at the public plaza of Talisayan with a program graced by 1st District Rep. Peter M. Unabia, who is spearheading the event in partnership with the municiAGRO/PAGE 10


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.