BusinessDaily (July 11, 2013)

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INSIDE LOOK

‘Geeks on a Beach’ tech, startup meet set in Boracay

BusinessDaily P93.5-M traffic light projs probe on

Economy

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DPWH to repair MalabangMatanog portion Economy

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CREDIBLE

Volume III, No. 254

Market Indicators

As of 5:54 pm july 10, 2013 (Wednesday)

FOREX

PHISIX

US$1 = P43.43

6,308.18 points

6 cents

X

18.84 points

X

Briefly Export congress The PHILEXPORT Region XI – Davao Chapter will mount an exhibit at the Mindanao Export Congress (MEC) on August 1-3, 2013 at the SMX Convention Center, SM Lanang Premier, Davao City, featuring Export Value Chain Integration and Innovation Technology. M EC i s a g a t h e r i n g o f expor t industr y stakeholders from all over the island including exporters, farmers, manufacturers, forwarders, shipping lines, banks and allied service providers. The event focuses on the symbiotic relationship of the various industries within the Mindanao export value chain. It is also a venue for sharing the latest developments, business opportunities and technological innovations to strengthen the Mindanao export industry. The exhibit will showcase fresh and processed food like bananas, cacao, coconut and coconut by-products, tuna and seaweeds among others.

Mambajao dreams high MAMBAJAO, Camiguin -- Mayor Maria Luisa D. Romualdo is targeting to up the municipality of Mambajao from a third class into a second-class municipality before her term ends. The mayor expressed this in her State of the Municipality Address (SOMA) on Friday, July 5 at the Camiguin Convention Center. “This may sound ambitious, but it is our fervent dream for Mambajao. Yes, there are a lot of things that need to be done and we have no intention of leaving it undone. We will make sure that all programs that have been started will be sustained, as this will speak loudly of our leadership and political will,” she said. Romualdo likewise encouraged every Mambajaonon to do their social obligation and responsibility as the progress and development of the town will be dependent on the synergy of competent and responsible leaders and constituents.

Cebu Pacific load factor climbs to 86% at end-May Corporate World

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Developments

RELIABLE

Cagayan de Oro City

Benguet student leaders do their share for the community Environment

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IN-DEPTH

Thursday

July 11, 2013

P15.00

Rufus urges Cha-Cha to address unemployment O

By BONG FABE, Associate Editor

NE of the most voca l proponent of Constitutional Change (Cha-cha) in the House of Representatives, Rep. Rufus Rodriguez, yesterday urged Malacanang to be open to proposals to amend the Constitution in order to address the high unemployment rate and very low foreign direct investments (FDI) in the country.

CHARTER CHANGE. Cagayan de Oro City Rep. Rufus Rodriguez (2nd district) batted for a Constitutional Commission to amend the constitution. He said the charter needs to be amended to address the worsening unemployment problem in the country. photo by bong d . fabe

Ro d r i g ue z , pre sid ent of the Centrist Democratic Party (CDP), said that the 7.5 percent unemployment rate and the measly US$2.8 billion FDI in 2012 “are very clear and compelling reasons to amend the Constitution, especially its economic restrictions.” The 7.5% unemployment rate as of April casted a cloud of doubt on the robustness and inclusiveness of the country’s growth rate of 7.8% in the first quarter, which made the Philippines the fastest-growing economy in Asia, surpassing China’s robust 7.7% growth rate in the same quarter.

The Philippines’ FDI in 2012 was a measly US$2.8 billion, the Bangko Sentral ng Pilipinas said, which is abysmal compared to other Asian nations, which had from US$10 billion to US$50 billion. China alone had a 2012 FDI of US$254 billion. Last March, Fitch Ratings and Standard & Poor’s upgraded the Philippines’ investment rating to “BBB-” from “BB+”, with a stable outlook because of the country’s macroeconomic fundamentals. But a l l t hese good news, Rodriguez said, is being pulled rufus/PAGE 11

A Brown to build hydro plant in Surigao del Sur By BONG D. FABE, Associate Editor

A F TER mov i ng notches i nto implementing its fossil fuel-based power projects, listed firm A. Brown Company Inc. (ABCI) is changing lane into renewable energy venture with its planned 25-megawatt hydropower facility in Surigao del Sur. The company, in a statement to the media, announced that this will be undertaken by its whollyowned subsidiary Hydrolink Projects Corporation. ABCI said its subsidiary recently signed a service contract with the Department of Energy (DOE) “for the development of the Caran-an river in

Cantilan.” The DoE gave Hydrolink Projects Corp. the exclusive rights to explore, develop and utilize the hydropower resources of the Carac-an River in the town of Cantilan, an A Brown statement said. The statement quoted Walter Brown, chairman of ABCI, as saying that Hydrolink decided to undertake the Cantilan project as an alternative power source for Surigao del Sur II Electric Cooperative to meet the power requirements 12 municipalities and one city. hydro/PAGE 11

ENDEMIC LIZARD. Edenson Canete of the Protected Areas and Wildlife Division shows to reporters an injured Philippine sailfin lizard or Philippine Iguana turned over to them by a resident. Sailfin lizard (hydrosaurus pustulatus) was endemic throughout the Philippines except Palawan. It lives near rivers in tropical forests. It can usually be found along the riverbanks in Jasaan, Misamis Oriental. photo by gerry lee gorit

J.P. RIZAL - CRUZ TAAL STS., (NEAR SHANGHAI BAKERY) DIVISORIA, CAGAYAN DE ORO CITY

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