BusinessDaily (June 19, 2013)

Page 1

BusinessDaily CREDIBLE

Volume III, No. 238

Market Indicators

As of 6:08 pm june 18, 2013 (Tuesday)

FOREX

PHISIX

US$1 = P43.12

6,518.77 points

26 cents

X

179.36 points

X

Briefly Tesda graduates THE city government, in cooperation with the Technical Education and Skills Development Authority (Tesda) continue to empower the local citizenry through the holding of skills training programs. This month, 500 more residents graduated from short term courses such as baking and prastry production, commercial cooking, beauty care services, food processing, massage therapy and dressmaking, according to the City Information Office. Mayor Vicente Y. Emano expresses hopes that this will help improve their lives. “Hinaut nga ang inyong natun-an sulod sa unom ka bulan magamit unta aron mo -alibyo ang kahimtang sa inyong tagsa-tagsa ka kinabuhi,” the mayor said in a press statement.

Road to airport M ISA M IS O r i e n t a l - - A n unfinished road maintenance project of the Department of Public Works and Highways (DPWH) has enraged airpor t- bound commuters in Laguindingan, Misamis Oriental. The DPWH ’s regional of fice repor ted that as of last June 15, only 25 percent of the 1.5 -kilometer road from the town of Alubijid to Laguindingan has been completed. DPWH chief of staff of the regional director Engr. Boni Lora said the province’s district engineer was implementing the project. “I really don’t know the rea s o n s why t he proje c t accomplished only 25 percent when its schedule of completion was on June 24, 2013,” Lora said.

RELIABLE

Cagayan de Oro City

Wednesday

IN-DEPTH

P15.00

June 19, 2013

PH still among ‘least peaceful’ countries in AsiaPacific By BONG FABE, Associate Editor

THE Philippines continue to improve its ranking in the world’s peace stage, placing 129th with an overall score of 2.37 among 162 countries in the latest Global Peace Index (GPI).

The Philippines’ ranking this year is an improvement of 4 notches over its 2012 placement of 133rd and 6 notches over its 135rd ranking in 2011. “Last year saw improved

prospects for peace between the Philippines government a nd t he Moro Is l a m ic Liberation Front (the main rebel group on the southern island of Mindanao), when a fra mework dea l for a

potential peace agreement was signed. There are many obstacles to lasting peace, but negotiations appear to be on-track in 2013,” said that Global Peace Index 2013 released last Tuesday by the

Institute for Economics and Peace (IEP), an independent, non-partisan, non-profit resea rch orga nisat ion dedicated to shifting the world’s focus to peace as LEAST/PAGE 11

Power from spot market to cost higher than DUs’ By NELSON V. CONSTANTINO, Editor-in-Chief and BUTCH ENERIO, Correspondent with Wire Report

W

HILE Mindanao consumers are eagerly awaiting for the start of the government-initiated Interim Mindanao Electricity Market (IMEM) in October this year, the Philippine Electricity Market Corporation (PEMC) yesterday admitted the rates derived from it will be “significantly higher” compared to those provided by current distribution utilities (DUs).

D u r i n g y e s t e r d a y ’s meeting with power and energ y reporters, PEMC Operat ions & Ma rket De velopment A s si st a nt Manager Clares Loren C.

Jalocon explained that this scenario is certain because the generators where the power would be sourced uses diesel. COST/PAGE 11

POWER OUTLOOK

Power crisis fears unnerve industry in booming Philippines MANILA - An electricity outage that blacked out large swathes of the Philippines’ main island of Luzon for up to eight hours last month has highlighted worries about a potential power crisis that could undermine Asia’s fastest-growing economy. Predictions that electricity demand will

outst r ip gover n ment forecasts have raised fears OUTLOOK/PAGE 11

ELECTRICITY SPOT MARKET. Power and energy reporters from Mindanao get a chance to observe yesterday’s trading at the Wholesale Electricity Spot Market (WESM). The government is set to install an interim spot market for Mindanao in October this year in a bid to normalize the island’s increasing power gap. photo by butch enerio

Ayala Land diversifies hotel portfolio with more brands ENCOU R AGED by t he results of its newly-opened properties, Ayala Land Hotels and Resorts is planning to grow its hotel portfolio in the Philippines. The company is planning

six more hotels under its four-star Seda brand hotels and will diversify its portfolio with the addition of Seda Suites for all-suite hotels, Seda Resorts for resorts, and larger properties of 400-500

rooms. Seda hotels offer between 150 and 200 keys. Hotels already confirmed include the Seda Nuvali in Laguna, scheduled to open in 1Q2014; SedaCircuit Makati AYALA/PAGE 11

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

Editorial and advertising email : businessweekmindanao@gmail.com • Cell Number : 0917-7121424 • 0947-8935776


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