BusinessDaily (June 21, 2013)

Page 1

BusinessDaily CREDIBLE

Volume III, No. 240

Market Indicators

As of 6:02 pm june 20, 2013 (Thursday)

FOREX

PHISIX

US$1 = P43.80

6,311.33 points

53 cents

X

201.86 points

X

Briefly Smoking Ban ZAMBOANGA CITY, June 20 (PNA) –- The smoking ban in public places,transportation and government offices will be enforced in this southern port city starting in September. T h i s , a s M ayo r C e l s o Lobregat has signed on Monday the city ordinance enacted last June 6 by the city council. The ordinance will take effect within 90 days or three months. It will be published this week in a local newspaper. Councilor Myra Paz Abubakar, who authored the ordinance, said the local police are ready to implement the ordinance by September although it does not ban smoking, per se, because that is already prohibited under Republic Act No. 9211 otherwise known as the “Tobacco Regulation Act of 2003.”

SSS retirees ILIGAN City -- The Social Security System (SSS) announced its new guidelines on contribution payments of voluntary members aged 65 and above who lack the required 120 monthly SSS contributions mandated by law to qualify for retirement pensions. SSS Manager Cheryl Jariol of Iligan Branch, said they are calling all members who are 65 years old or over prior to April 1, 2013, but have not reached the required member contributions of 120 months to qualify for retirement pension, to continue paying the remaining months but they must first file an application on or before July 1, 2013. This announcement was made by SSS President and Chief Executive Officer Emilio de Quiros, Jr., requiring all SSS branches to disseminate the said guidelines. Members affected by the new policy must file an ‘Application fo r Vo l u nt ar y Pay m e nt of Contributions for Members Aged 65 and Over’ within the prescribed period so they can complete their 120 contributions and be eligible for retirement pension. Otherwise, they can only receive a lump sum benefit instead of the lifetime SSS pension.

RELIABLE

Cagayan de Oro City

Friday

IN-DEPTH

P15.00

June 21, 2013

Philex to spend P8b for Surigao mining project

P

By BONG S. SARMIENTO, MindaNews

HILEX Mining Corp. is spending P5 to 8 billion this year for the exploration and development works at its Silangan project in Surigao del Norte, businessman Manuel V. Pangilinan said on Friday.

Pangilinan told reporters after the annual stockholders’ meeting of the Philippine Long Distance Telephone Co. that the Silangan project is on track for its targeted commercial production in 2017.

“At the moment, we’re building a decline, which is the most important step [for the mining project’s commercial operation],” said Pangilinan, who also chairs Philex. project/PAGE 11

Matigsalug tribe folks in Bukidnon eye coconut plantation for livelihood

The Silangan Project portal. (source:philixmining.com.ph)

Davao airport governing body mulled By CARINA L CAYON, Contributor

By WALTER I. BALANE, MindaNews

MALAYBALAY City– The Matigsalugs of Kalagangan in San Fernando town in Bukidnon are eyeing to start

a coconut plantation for their livelihood here a decade after obtaining a Certificate eye/PAGE 11

DAVAO City -- The National Economic Development Authority (NEDA-XI) has recommended support for the immediate passage of House Bill 6693, an Act creating the Davao International Airport Authority (DIAA) to administer and operate the F. Bangoy International Airport (FBIA). NEDA-XI, secretariat to the Regional Development

Council (R DC-X I), said e st abl ish i ng t he DI A A would redound to a more efficient and competitive administration and management of the Davao International Airport (DIA). Strengthening the role of DIA as the transportation and logistics hub in Mindanao has also been espoused in the current development and physical framework plans

of the Davao Region, said acting RDC-XI Secretary Miguel Herrera. Herrera ra ised t he r e c om m e n d a t i on a f t e r presenting some specific a nd gener a l com ment s gat hered from memberagencies of RDC-XI, relative to the provisions in HB 6693 authored by Davao City 2nd district Congresswoman mulled/PAGE 11

PSALM seeks OK for supply deals

The Mantigsalug tribe inhabits the mountains of Bukidnon and Davao.

THE POWER Sector Assets and Liabilities Management Corp. (PSALM) has sought the regulator’s approval for supply deals with 23 distribution utilities (DUs) in Mindanao, to allow PSALM to continue supplying a portion of distributors’ power needs. In a notice Wednesday, the Energy Regulatory Commission (ERC) said that PSALM filed an application on April 1 for the approval of the contracts for the supply of electric energy (CSEEs) it entered into

with the DUs. The utilities were identified as Agusan del Norte Electric Cooperative, Inc.; Agusan del Sur Electric Cooperative, Inc.; Bukidnon Second Electric Cooperative, Inc.; Camiguin Electric Cooperative, Inc.; Cotabato Electric Cooperative, Inc.; Davao del Sur Electric Cooperative, Inc.; Davao Oriental Electric Cooperative, Inc.; Iligan Light and Power, Inc.; Lanao del Norte Electric Cooperative, Inc.; deals/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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