up to 15% discount on downpayment downpayment-up to 12-24 months to pay balance payable in 10 years @ 10% flat rate
BusinessDaily CREDIBLE
Volume III, No. 226
Market Indicators
As of 6:15 pm june 1, 2013 (Thursday)
FOREX
PHISIX
US$1 = P42.26
7,021.95 points
6 cents
X
68.60 points
X
Briefly No market rehab CAGAYAN de Oro City Mayor Vicente Emano on Friday said the city government has cancelled plans to uplift the public market in Puerto, a coastal barangay east of the city. “It is unfortunate that the plan to pursue the Puerto Public Market Redevelopment Project has been put off,” Emano said in a statement released to media outlets here. He said that the proponent of the project under a “BuildOperate-Transfer” scheme has withdrawn the proposed market redevelopment plans. Emano sought the understanding of market vendors in Puerto, one of the three largest public markets in Cagayan de Oro City, since “my term would end in June this year.”
RELIABLE
Cagayan de Oro City
Monday
P15.00
June 3, 2013
Lower wage hike seen Tripartite board to release figure early this month
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By CHRISTINE CABIASA, Reporter
ORTHERN Mindanao’s minimum wage earners are expected to get their salary adjustments as soon as the National Wages and Productivity Commission (NWPC) finally approves the region’s tripartite board’s recommendations. Department of Labor and Employment (DoLE) Regional Director Johnson Cañete, however, declined to provide figures on the impending new wage order, but noted it would be less than the amount pushed by the labor sector.
In April this year, the Associated Labor UnionsTr ade Un ion C ong re s s of the Philippines (ALUTUCP) filed an P88-wage hike petition in Northern Mindanao and t hat t he current minimum wage, set at a maximum P286, be
adjusted to P374. “We cannot divulge the amount yet pending the result of the NWPC en banc meeting, but for sure there will be another round of increases this year and we will be giving you the exact amount early [this month],” Cañete said. He said the Regional Tr i p a r t i t e Wa g e s a n d Productivity Board decided on the rate of increase after it conducted provincial wage consultations and a regionwage/PAGE 11
Workers in a food company in Cagayan de Oro City. Minimum wage earners in northern Mindanao are expected to get a much lower wage hike this year than what has been proposed by the labor sector.
Korean fashion brand Basic House to open store at Centrio Mall
Waste facility CAGAYAN de Oro is now studying a proposal for the construction of a medical waste facility that would process, treat, reprocess, and dispose infectious medical waste here, City Councilor Prexy Elipe said on Friday. The “Basura ATBP Inc.,” a private corporation, has submitted the proposal to the city council for the approval of a memorandum of agreement for the construction of the medical waste facility in Upper Dugong in Carmen here. The proposed MOA provides the terms and conditions the premises, usage fees, default p ay m e n t , p u b l i c u t i l i t i e s , insurance, prohibitions, undertakings of both parties, among others, Elipe said. Elipe, who chair the city’s environment committee, said that the Local Government Code of 1991 mandates local government units to promote the public health and safety of its inhabitants, enhance the right of the people to a balanced ecology.
IN-DEPTH
By BUTCH D. ENERIO, Correspondent
BACK TO SCHOOL. Shoppers take advantage of a weekend sale of school supplies, shoes and uniforms at one of the malls in Davao City as classes start today, June 3. mindanews photo by toto lozano
FILIPINO fans here of Korean street style will definitely have an array of choices with the opening of a Korean fashion brand- well-received for its fresh and preppy spin to everyday wear. Basic House is poised to excite the industry’s ready-
to-wear segment and fulfill the market’s fascination for Korean fashion on June 5 when it opens its store at the Ayala Centrio Mall. Living up to its philosophy of reinventing fashion staples everyday, Basic House has Korean/PAGE 11
Bigger profit for banana farmers sans aerial spraying, says study By MindaNews
KORONADAL City -- Small banana growers in the Davao region will earn more income if banana plantations will shift from aerial to ground spraying, results of a study commissioned by t he I nter f ac e De velopment
Interventions, Inc. (IDIS) showed. IDIS said the study– “Financial Assessment of Shif ting from Aeria l to Ground Spray in Banana Plantations in Davao Region” conducted by Anabeth San
Gregorio in 2011–found that a shift from aerial to ground spraying resulted “to an increase in potential gross profit from P116,000 to P138,200 per hectare per year, or an incremental profit Profit/PAGE 11
NO AERIAL SPRAY. Worker does manual spraying in a banana plantation in Bukidnon. Aerial spraying of pesticides has been banned in some areas in Mindanao. mindanews file photo
J.P. RIZAL - CRUZ TAAL STS., (NEAR SHANGHAI BAKERY) DIVISORIA, CAGAYAN DE ORO CITY
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