INSIDE LOOK
FIBECO conducts massive meter change in B’non
WB initiative defends small-scale mining
DENR to destroy P420-M worth of seized elephant tusks
‘Seize Your Power’: Calls for investment in RE
BusinessDaily Eco-Business
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Eco-Business
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CREDIBLE
Volume III, No. 232
Market Indicators
As of 6:03 pm june 10, 2013 (Monday)
FOREX
PHISIX
US$1 = P42.78
6,875.60 points
54 cents
X
173.65 points
X
Briefly Oil price hike probe A CAG AYA N D E O R O C i t y Councilor on Monday called for an investigation on the series of price of hikes of petroleum products during the past weeks. Councilor Prexy D. Elipe told the City Council that prices of fuel products rapidly increased after the May 13 elections. He said that prior to the May 13 elections prices of fuel products rolled back several times. “It is unusual that prices of fuel products increase in the past weeks when the prices of petroleum products remained stable in the world market,” Elipe told the City Council. Elipe also expressed his dismay on the discrepancy of prices of fuel products in Cagayan de Oro City compared to other cities in the country. He cited that the price of diesel in Manila remains at P40 per liter while gasoline at P44 per liter. In Cagayan De Oro City, prices of diesel fuel ranges from P 48 to P 49 per liter while gasoline at P 54 to P 58 per liter.
The Gold Buyer
News
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News
RELIABLE
Cagayan de Oro City
Tuesday
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IN-DEPTH
June 11, 2013
P15.00
DESPITE OPPOSITION:
P-Noy to unveil marker for airport’s opening Business community fears tailspin of Normin economy with airport’s ‘premature’ opening
By MIKE BAÑOS, Editor-at-Large and NELSON V. CONSTANTINO Editor-in-Chief
W
ITHthegovernment eager to start the operations of the P7.8 billion Laguindingan Internat iona l A i r por t, President Aquino is set to lead the final inspection and unveiling of a marker at the new airport today ahead of its scheduled commercial start on Saturday, June 15.
Joi n i ng t he President a re Transportation Secretar y Joseph Emilio Abaya, Korean Ambassador to the Philippines Hyuk Lee and Chief Representative of Korea Eximbank Manila Office Tae-ik Park. Marker/PAGE 11
New wage hike THE Regional Tripartite Wages and Productivity Board (RTWPBIX) has approved the new minimum wage rates May 6. This shall take effect June 10. R e p u b l i c A c t N o. 6 72 7, otherwise known as the Wage Rationalization Ac t of 1989, empowers the Regional Tripartite Wages and Productivity Boards to determine and fix minimum wage rates applicable in the regions an d to i s sue c orres p o n d ing wage orders subject to existing guidelines issued by the National Wages and Productivity Commission (NWPC). After conducting an evaluation of the region’s socio-economic and labor market indicators, particularly the region’s poverty incidence, the erosion of the purchasing power of the peso, as well as the problematic power situation prevailing in the region, the Board deemed it just and equitable to adjust and increase the current minimum wage rates.
Feature
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NEW AIRPORT: The facade of the Laguindingan Airport, which intends to serve the Cagayan de Oro-Iligan City corridor in Northern Mindanao. photo from mindanews . com
Laguindingan Airport: Most delayed government infra project in history By BONG D. FABE, Associate Editor
THE soon-to-be-opened P7.8 billion internationalsta nda rd L ag u i nd i nga n Airport has earned a unique distinction in Philippine history — the most delayed government infrastructure project of all time. Aside from that, it is also the only government infrastructure project that was initiated by a mother
and finished by a son as President Corazo C. Aquino commissioned the airport’s original plans in 1991. And today, her only son, President Benigno Simeon C. Aquino III will inspect and install a marker on it for its much ba l lyhooed openi ng on Saturday, June 15. Louis Berger Internat iona l, w it h t he
assistance of the United States Agency for International Development (USAID), did the Laguindingan Airport feasibility study and master plan in 1991 for President Aquino, who saw and want to meet the increasing and future aviation traffic demand along the Cagayan de OroIligan Industrial Corridor history/PAGE 11
A street vendor gives a welcoming smile to motorists along Tionko St. in Davao City, hoping to sell flaglets for the observance of Independence Day on June 12. mindanews photo by erwin mascarinas
J.P. RIZAL - CRUZ TAAL STS., (NEAR SHANGHAI BAKERY) DIVISORIA, CAGAYAN DE ORO CITY
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