BUSINESSWEEK MINDANAO (Dec 17-18,2012)

BusinessWeek MINDANAO

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Issue No. 137, Volume III •

Cagayan de Oro City

Monday-Tuesday

Now every Mondays, Wednesdays, & Fridays

December 17-18, 2012

P15.00

Market Indicators As of 5:57 pm dec. 14, 2012 (Friday)

FOREX

PHISIX

US$1 = P41.08

5,726.89 points

X

61.06 points

Briefly

X

7 cents

Price monitoring

THE Department of Trade and Industry (DTI) - Region 11 continues to monitor the price of basic commodities in the typhoon-affected areas in Compostela Valley and Davao Oriental but notes the lack of purchasing power in the area.

“There is an automatic price-freeze in the areas affected by the calamity for the next 60 days after the areas have been declared under a state of calamity,” DTI Consumers Welfare Division Chief Arnulfo Ganaan said Tuesday.

Ganaan said they went to New Bataan on December 8 to conduct price monitoring but the stores were closed. “Halos lahat ng tindahan sarado at lubog sa putik (almost all stores were closed and halfburied in mud),” he said.

Earth-friendly firm

HEDCOR Sibulan was recently recognized as among the most earth-friendly companies in the country this year.

The company based in the municipality of Sta. Cruz in Davao del Sur province was awarded the Seal of Approval by the Department of Environment and Natural Resources (DENR) for its efforts in incorporating green policies in its business platforms.

In a statement, Environment Secretary Ramon Paje said “ the (winners) were chosen because of their exemplary environmental performance and for going beyond mere compliance with existing environmental laws and regulations.”

Rubber farms

RUBBER production in Saranggani province is expected to increase following the Department of Agriculture 12 farmers’ field school program on rubber production in the town of Maitum.

About 40 rubber farmers were taught with new technologies in rubber production that will help them increase productivity.

These farmers underwent a season-long farmers’ field school on rubber productivity and management conducted

by DA through its Agricultural Training Institute.

V

By IRENE DOMINGO, Reporter

ARIOUS ports in Mindanao are among those given priority for rehabilitation and improvement by the Aquino government to support burgeoning trade between the country’s regions.

President Benigno S. C. Aquino III issued executive orders (EO) all dated Dec. 4 that delineate the areas of these ports and place them under the jurisdiction of the Philippine Ports Authority (PPA).

The PPA is charged with implementing a “program for the proper zoning, planning, development and utilization” of these ports.

Mr. Aquino, in the EOs, cited the need to define the ports/PAGE 8

PORTS DEVELOPMENT. The port of Benoni in Camiguin province is among those given priority for improvement to catch up with the increasing trade activities in southern Philippines.

Davao eyed as next APEC venue

By BEN D. ARCHE Correspondent

DAVAO City - Visiting representatives from different government offices in Manila recently gave good remark to Davao City as potential venue for the Asia-Pacific Economic Cooperation (APEC) summit

by 2015.

The city was one of the areas visited by the officials of the Dept. of Foreign Affairs, Public Works and Highways, Tourism, Trade and Industry, National Security Council, National Intelligence Coordinating Agency and

Presidential Security Group.

Other cities visited by the group of government officials include Cebu, Tagaytay, Palawan, Boracay, and Manila.

Roberto P. Alabado III, officer-in-charge of the City Planning and Development apec/PAGE 8

VILLAR SIPAG. Former Las Piñas Rep. Cynthia Villar cuts the ribbon to formally open the Villar-Social Institute for Poverty Alleviation and Governance (Villar Sipag) building that would serve as home for their activities to help poor Filipinos get a better life. Assisting her are Bishop Jesse Mercado of the Diocese of Parañaque and Sen. Manuel Villar. advertorial

Villar now in 4th spot in latest SWS survey

By PAT SAMONTE and JOEL PORTUGAL, Correspondents

BUTUAN City – Former Representative Cynthia Villar of Las Piñas City has climbed to number 4

in the standings of voters’ preferences of senatorial candidates as shown by villar/PAGE 8

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

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Economy

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DA increasing farmers productivity and income in Region 12 COTABATO City -- The studies and research of the Department of Agriculture (DA) are continuously providing the region with modern technology to increase rice production and earn more profits for farmers.

The latest of these activities is the Farmers Field Day where DA showcased two projects under the upland rice-based cropping system.

Lolita Tomas and Imelda Hechanova, both from the research outreach station of DA-12, led the activity

in Bolomala, Tupi, South Cotabato on Thursday.

Tomas said the study has two components that include Performance of Upland Rice (NSIC Rc 222) Mixed with Mungbean, Soybean at OPVWhite Corn; and the second component, Performance

of Indigenous Upland Rice (RV8) Striped Crop with Glutinous Corn, Peanut and Cowpeas.

Loreto Pagarigan, focal person of the DA 12 Research and Development for Rice, said the establishment of rice technology demonstration site is part of DA’s initiative to come up with modern techniques and improve rice productivity.

“Regional Director Amalia Jayag-Datukan’s direc-

tive is simple and doable, make the region a major rice producer in answer to the rice sufficiency program of the national government,” Pagaringan said.

In 2011, he said Region 12 has a rice self-sufficiency level of 126 percent.

More than 40 rice farmers attended the field day in Purok Mabuhay, Barangay Carpenter Hill, Koronadal City to study the research output and apply it in their respective rice fields.

Also present during the field day activity were farmers from Saranggani, South

Cotabato and North Cotabato.

He added that two farmers’ groups from Maitum, Saranggani have graduated from the three-month training on rice production.

They received their respective certificates in simple ceremonies Thursday at the Maitum gymnasium.

All of the farmers were taught modern techniques in organic rice production using natural farming technology.

Another group of farmers also graduated in in-bred rice production through the Farmers’ Field School

program, according to Soraida Bangon, DA-12 regional techno demo coordinator.

Farmers were taught the Palay Check system with its eight steps from soil preparation to harvesting activities.

“They were also taught to identify natural enemies and how to eliminate them with less expenses,” according to Regional Director Datukan.

“Before we were in a quandary when to use the chemicals to eliminate pests but now we have learned proper and effective rice farming activities,” said Maitum Mayor Elsie Lucille Perrett. (PNA)

BUTUAN City -- The Sangguniang Panlungsod in a resolution authorized a group of business enthusiasts to display their goods along the sidewalk stretching from Asialink Department Store up to the corner of P. Burgos Street during the duration of the Christmas Season starting from December 1 to January 6 at business hours from 7 p.m. to 12 m.n.

The city government shall provide portable tents that will be used by the

vendors with a rental fee of P120 a day. This is imposed to simply insure the beauty and uniformity of the City.

This opportunity was given by the City Government of Butuan to a group of vendors to help promote our business industry in this city and help empower small business groups to excel and be known in their respective crafts. With this, it will create more job opportunities for the people of this city giving them a

worthwhile livelihood for the Christmas holidays.

Vice Mayor Law Fortun said this is their way of helping the vendors gain livelihood who have been threatened to be demolished recently. According to Fortun that in the spirit of Christmas, these small entrepreneurs should also be accorded humane treatment for which their presence can also boost the economy of the City.

(Junesther Jean S. Iway and Eldie N. David,

Camiguin on Tuesday at the Municipal Health OfMAMBAJAO, Camiquin fice (MHO) of Catarman.

– The first leg of food All food establishhandler’s class opened in ment operators here were

required to undergo the training before they will be allowed to renew their licenses.

The Camiguin Provincial Health Office has scheduled a 2-day training course for each town.

Provincial Nutritionist Telesfora G. Madelo said this is a yearly routine for the food handlers’ but will help put into place all necessary updates with regards to good hygienic practices in food handling and serving.

She noted that one of the most important topics they would present this year will be on the eight food safety standards.

Other discussions covered includes the control of food and water borne diseases, sanitation requirements, waste disposal, food surveillance (utensils and equipment), and updates on newly passed ordinances.

Entrepreneurs early Christmas treat

Camiguin food handlers’ seminar

By JORIE C. VALCORZA Contributor

0917-7154399 088-856-8562/63

AMENITIES : ZORBIT * ATV * TREE TOP ADVENTURE BUGGY * BUNGEE * PICNIC GROUNDS PLAYGROUND * CAFE * LUGE * MINI GOLF ROOM ACCOMODATIONS

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Motoring

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Ford sales jump in Nov. on strength of pickup line DRIVEN by its Ranger pickup line, Ford Philippines announced on Wednesday that its overall sales in November jumped 46 percent from a year ago.

Overall total retail sales reached 1,225 units, representing its second-highest monthly record following the October sales, the American car-maker said in a statement.

This strong performance was led by the Ford Ranger pickup, which saw retail sales climb to 344 units, an all-time monthly record high for the model that was officially launched in the country in July.

“Exceptional customer response to our newly launched One Ford vehicles like the all-new Ranger is helping drive record sales,” said Randy Krieger, president, Ford Group Philippines.

“By offering customers the

widest range of Ford vehicles ever in the Philippines, our brand is connecting with, and appealing to, a much wider variety of lives and lifestyles,” he added.

Next to the pickup, the all-new Ford Explorer posted its second highest monthly sales of 107 units since the sports utility vehicle was launched locally.

In November, sales of the Ford Fiesta rose nine percent to 248 units, from

the previous year, with the model retaining its position as the best-selling five-door hatchback in the small car segment.

The Ford Mustang sold 37 units and 130 units have already been delivered since its launch three months ago.

Ford Philippines is opening 12 new authorized dealerships within six months, bringing the total to 35 nationwide by the end of the ford/PAGE 8

Honda to recall 20,000 motorbikes

TOKYO - Honda Motor Co. notified the transport ministry on Thursday that it will recall 20,932 motorbikes of two models produced between December 2007 and November this year for defective brake lights.

The brake lights may not turn on if water gets inside the headlight area, accumulates around the branch point of electrical wiring beneath the fuel tank and makes its way into the brake switch, causing rust inside, accordhonda/PAGE 8

Monday - Tuesday I Dec. 17-18, 2012

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Monday - Tuesday I Dec. 17-18, 2012

Corporate . World

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Veterans Bank teams up with Microsoft Philippines to upgrade IT Systems MAKATI CITY – To improve the productivity of its business processes which in turn will lead to better and more efficient delivery of banking services to its customers, Philippine Veterans Bank has teamed-up with Microsoft Philippines to upgrade its IT systems.

Working with Microsoft solutions providers, db Wizards and Software-1, Veterans Bank will upgrade its IT infrastructure to Windows 2008 R2 and Exchange 2010. With Windows 2008, the bank will be able to consolidate its servers, manage hardware more effectively, and alter system security.

On the other hand, the upgrade to Exchange 2010 will provide the bank with cloud-based email and archiving which will greatly enhance communication within the bank’s network.

Inanother development , the Calamba Water District (CWD) of Calamba, Laguna, was the latest recipient of a timekeeping kiosk and bio-metric unit from Philippine Veterans Bank. In a

simple ceremony held recently, CWD and Veterans Bank officers spearheaded the official launch of the new equipment that will automate the attendance monitoring of employees of the local government corporation.

The timekeeping kiosk utilizes a combined fingerprint-scanning technology that effectively monitors the attendance of employees. With the timekeeping device installed, the CWD expects the productivity of its employees to increase and HR officers will greatly benefit from its ease-of-use and capability to generate customized reports. As the CWD employees’ payroll is also with Veterans Bank, this means seamless synergy from attendance monitoring to the actual crediting of employee salaries.

As an added benefit Veterans Bank provided the timekeeping kiosk and bio-metrics unit at no cost to CWD. Maintenance of both software and hardware will also be shouldered by

Signing the agreement were (seated, L-R) db Wizards Sales & Marketing Director Michelle Lachica, db Wizards Managing Director Pocholo Reyes, Veterans Bank President & CEO Ricardo Balbido Jr., Veterans Bank CIO & Technology & Business Information Group Head Camille Canullas, and Microsoft Phils. SMS & P Director Bernadette Nacario.

Witnessing the signing were (standing, L-R) db Wizards Sales Manager Jean Delos Santos, db Wizards Core Infrastructure Consultant Mark Escobido, Veterans Bank Security & Standards Administrator Freda Gonzales, Veterans Bank FVP & IT Operations Head Edgardo Dajao, Veterans Bank AVP & IT Security Administration Head Ma. Melyn Ramos, and db Wizards Consultant Arvin Cabichuelas.

the bank and both parties are currently at work to have a second timekeeping unit installed soon.

Veterans Bank has been expanding its services to both government and private clients nationwide,

MCMA signs MOA with Pag-IBIG Fund for membership registration CAGAYA N DE ORO CITY, -- On the occasion of Pag-IBIG Fund’s 32nd A n n iversa r y, a memorandum of agreement (MOA) w i l l be signed by the officers of the Malaybalay City Motorela Association (MCMA) and the PagIBIG Cagayan de Oro Bra nch, ma rk ing t he activation of MCMA’s membership under the Malaybalay Extension Office.

Pag-IBIG Fund Cagayan de Oro Branch’s Department Manager Juliano S. Banghal will sign the MOA with MCMA President Rona ldo S. Ramos, along with the officers from both the Fund and the transport association.

The MOA signing will take place at the PagIBIG Fund Cagayan de Oro Branch, Pag-IBIG Fund Building, JR Borja Mortola Sts., Cagayan

de Oro City tomorrow, Dec. 14.

MC M A i s a du l y registered association, registered under the Department of Labor and Employment (DOLE), composed of motorela operators and drivers from the City of Malaybalay.

Personnel from the Marketing and Enforcement Division organized and conducted a series of Fund briefings to the

officers and members of MCMA last November 15, 2012.

Republic Act 9679 also known as the Home Development Mutua l Fund Law requires all Filipino workers earning at least P1,000.00 monthly to actively save in Pag-IBIG Fund. The law applies to all selfemployed including the motorela drivers and operators. (Pag-IBIG Fund/PIA10)

Peso...

ippines is not an option, as incomes are still too low.

Analysts say a strengthening peso adds to the rosy economic outlook, as it eases pressure on foreign debt payments and imports.

But it’s a double-edged sword, as it also hurts exports, U.S. dollar-dependent industries like business process outsourcing (BPO) and overseas workers’ remittances.

There are 9.5 million Filipinos working abroad, out of its 94.8 million population.

Remittances from Filipinos working abroad comprise 10 percent of the gross national product, not only building up foreign currency reserves but also fuelling consumption spending by

workers’ families.

To a large extent, economist Emilio Neri said, the country’s much-touted credit rating upgrades would not have been possible without the contribution of remittances to economic stability, with overseas workers constantly sending dollars even during the financial crisis.

“The reason why we’ve been enjoying 14 years of uninterrupted grow th is because of these remittances.

And again, it’s quite ironic that these are the same people who have to pay the price of progress,” Neri said.

Sustained appreciation of the peso at the current pace, if left uncontained, could further hurt overseas workers and in the long run, dampen

the economic outlook, Neri added.

Though remittances have grown by 5.1 percent this year, it is the slowest growth in years.

“If our sources of foreign currencies do not continue to grow at the pace necessary to be able to bring in all of these other resources we need to be able to bring the economy to a higher level of growth, then it can come to a point of, that it would be difficult to sustain, the growth that we’re enjoying now,” Neri said.

He recommends lower interest rates and further buying of U.S. dollars by the Central Bank, to temper the peso’s appreciation.

With the government

from page 5

high.

Back home, her sister Joanna Jacer-Bernabe who takes care of Ishmael, said they were scrimping on some food expenses, and had cut down on leisure activities to make do with reduced remittances.

“Yes, the peso is appreciating, but the value of what is reaching the dependants of the overseas workers is diminishing,” Joanna JacerBernabe said.

While Analiza is one of millions of overseas workers finding themselves on the losing end of the country’s economic resurgence, she says returning to the Phil-

offering an innovative array of products and services. As an authorized government depository, the bank has

been helping local government units by providing them with access to banking services

CAGAYAN DE ORO Main Branch P & J Lim Bldg., Tiano Brothers – Kalambagohan Sts., Tel. # (08822) 727-829 * Telefax # (088) 856-1947 CAMIGUIN Branch B. Aranas St., Poblacion, Mambajao, Camiguin Tel. # (088) 387-0491 CORRALES Branch Corrales Ave., Cagayan de Oro City DIVISORIA Branch Atty. Erasmo B. Damasing Bldg., #61 Don A. Velez St., Cagayan de Oro City Tel. # (088) 857-3631 LAPASAN Branch Lapasan Hi-way, Cagayan de Oro City Tel. # (088) 231-6739a expecting bigger spending requirements in the coming years for large-scale infrastructure projects that the country badly needs, a dent on dollar inflows could hurt growth.

For Filipinos in Singapore, giving up the life overseas is increasingly tempting.

Rhodel Flores dela Ysla has just left his job at Google, and will be spending his first Christmas in the Philippines in six years, bringing home his son and wife. He is undecided about moving back home for good, but the depreciation of his earnings is weighing on his mind.

“First of all, when the peso is getting stronger, of course you feel a sense of pride that your country is

somehow coming up and getting stronger and recovering from this economic crisis that is going on around the world. But at the same time you’re sad because, if you’re a foreign worker and you think that your money is getting stronger, that means what you’re earning here is like nothing at all,” he said.

Workers like dela Ysla and Jacer are still likely to stake their futures abroad, until the Philippine economy grows big enough to make space for them back home.

That will take time, analysts say, as foreign direct investments in manufacturing and other heavy industries are still much lower compared to neighbouring countries.

Land Bank allots fresh P2.1B credit facility for Pablo-hit banana growers STATE-RUN Land Bank of the Philippines is setting aside P2.1 billion worth of loans to assist commercial banana growers who took a hit from Typhoon Pablo, the Department of Agriculture (DA) said on Thursday.

On the sidelines of the National Food Staples Convention of Food Staple Producers, Agriculture Secretary

Proceso Alcala said he and Land Bank president Gilda Pico are discussing the terms of the loan for qualified

banana growers.

Based on their initial discussion, Pico agreed to give banana growers at least 18 months before they start loan payments, Alcala said.

“It will take 10 months to rehabilitate the banana industry so they should be banana/PAGE 8

Filipino migrant workers are the least beneficiaries of stronger peso against the green bucks.

OFWs most affected as peso strengthens vs dollar SINGLE mother Analiza Jacer left the Philippines six years ago to work abroad to support a son back home.

She moved from Macau to Singapore two years ago and works two jobs, as a cost management advisor and a sales representative.

She sends home about 1,200 Singapore dol lars ($1000 USD) every month for her son Ishmael’s school expenses and to help out several relatives.

“So that he can also have

a future, a good future, because you know, even if you have graduated university, it’s still hard to find a job, so that’s why it’s better to finish school, that’s why I work here as a single parent, so I do it for him. I have no choice but to provide for him, right?” Jacer said.

The Philippine peso is one of the best performing currencies in Asia, surging by nearly 7 percent this year.

It hit a four-year-high, reaching 40.85 to 1 U.S. dol-

lar in early December.

The Philippines is the second-fa ste st g row i ng economy in Asia, expanding by 7.1 percent in the third quarter. Low interest rates, credit rating upgrades, and a stock market soaring to record highs have marked its growth.

This year, Jacer saw the peso value of her earnings in Singapore steadily dropping, as the Philippine peso appreciated to a four-year peso/PAGE 4

Super typhoon Pablo flattens almost 80-percent of banana plantations in the Davao region alone.

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Opinion

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Vision 20/20 (Part 2) ONE of my greatest fears is losing my eyesight. As I shared with you the other week, (I had to give way to Pablo & Public Health Issues as it was very relevant for the times), eyesight tops my list of most important.

To go blind is like saying it’s the end of the world. The following are the leading causes of blindness: cataract, glaucoma, macular degeneration, diabetic retinopathy, accidents and congenital problems.

Notice that most of the causes occur in the age group above 40, with the exception of accidents and congenital.

Let me just share with the readers the salient or important points that may alert one of having the illness or the probability of getting blind, in order to seek immediate consultation with our friendly eye specialists.

Cataracts affect people in the older age group, although, there may be isolated cases of young people developing such. The lenses are clouded, thus the inability to see clearly. It can affect one eye or both eyes. It may present as a blurred vision.

Others may describe it as colors that seem faded, or, there is double vision.

When you notice a frequency in the change of prescription glasses, it is truly to your best interest to go see an ophthalmologist.

In Glaucoma, the problem is the increase in the fluid pressure of the eye, which cause damage to the optic

Health in Focus

Plan in Hand THINK a minute…

Ca n you imag ine a n engineer building a ta ll skyscraper without a plan?

Someone said: “If you fail to plan, you plan to fail.”

Success is no accident! It doesn’t just magically happen. You have to plan for it to happen.

As one guy put it: “You must plan for a great future.

After all, you have to spend the rest of your life there.”

We must have some kind of plan of what we want and how we’ll get it.

You see, if you shoot for nothing you’ll hit it every time! A wise person said: “If you’ve accomplished ev-

erything you’ve planned in life, then you’ve probably not planned enough. You’re getting too old when all your dreams are reruns.”

The very successful head of the Chrysler Automobile Corporation, Lee Iacocca, used to ask his workers: “What do you want to do?

What do you want to be?

What do you want to have?

Where do you want to go?

How do you plan to get there?

Write it down. Now go do it.

It doesn’t get any simpler or better than that.”

So why not start living your life on purpose? First dream it, then do it. They say that 1 hour of planning will

save you 3 hours of wasted time and work. With a plan, your work is working for you!

Your plan will keep you in control of your life, moving ahead toward your goal of success and happiness.

But after you plan your work, you have to work your plan. Discipline is what brings your dreams into real life. A dream with no discipline will just remain a dream, and a plan without work will be a plan that won’t work.

So today, why not ask the One Who designed the plan for your success to take full charge of your life. Jesus also has the power you need to

Think a minute

JHAN TIAFAU HURST

make that plan start working for you. With His plan in hand, you’ll go all the way to the life He wants you and your family to enjoy.

Just think a minute…

‘Branding’ an artificial economy

GOVERNMENT economic managers are predicting an economic growth of 7 per cent next year. In a country where an annual 4.5 per cent annual grow th rate can hardly be attained, a 7 per cent growth rate is impossible.

The Philippine Chamber of Commerce and Industry (PCCI) made the prediction seeing a ‘sustained investments crucial for creating jobs.’

Undoubtedly, job generation is one of the most important indicators of a growing economy. Acute unemployment is indicative of a stagnant economy. Thus, to attain economic growth, the government should initiate job generation initiatives.

It is, however, lamentable that the government and private job generation projects are focused only in growth cities and urban

centers in the country. This approach tends to create a ‘superficial economy’ which is not sustainable.

More of ten, focusing employment generation in established growth areas in the country is no more than a form of marketing ‘branding.’ The country’s branding in the international market is the lowest.

Government and private entrepreneurs are trying to deflect the ‘negative branding’ as a way of convincing foreign investors to contributed in the proposed job generation initiatives. This is a losing perspective.

Instead, economic planners should focus on creating new growth areas, particularly in isolated areas in the country. We are suggesting that employment and job generation activities must spread to the countryside in order to open opportunities

Cris Diaz

to the largest number of the country’s unemployed sector.

Obviously, people in the countryside or among the country’s poorest provinces are mostly unemployed.

Unfortunately, most people in the country are tilling lands on a hand-to-mouth subsistence. Their wives and grown up children are unemployed. Their farmlands are unproductive because of the lack of capital.

The government’s lending institutions are only akin on getting land titles as collateral. Farmers who possessed lands under the government’s land tenure programs could not avail of loans since these lands are not eligible for titling. If ever, lending institutions (including government owned financial institutions) extend only minimal loans.

In this case, farmers could no pay monthly amortization could on time because of their failure to fully develop their farm lots.

Unless the government refocuses its direction to fully develop the farmers in the countryside by providing them necessary funding to make their lands profitable and productive, the 7 per cent economic growth rate next year or in the coming future is only a delusion of grandeur. React: crisguardian@yahoo.com

How the exchange rate affects us DR. MARY JEAN LORECHE

nerve.

Patients may not complain of a blurred vision or problems related to eyesight, but, this may be an incidental finding during a comprehensive eye examination.

Thus, it is to the best interest of our eyes , even if we don’t feel anything at all, to have that yearly visit to our eye specialists.

In Macular degeneration, the macula, which is responsible for allowing us to see the finer details ,is affected. Thus, the ability to drive, read, watch television and do routine daily tasks is hampered.

For patients who have long standing uncontrolled blood sugar, the damage is to the retina, which is that part of the eye responsible for light sensitivity. Blood vessels that are abnormal grow around the retina, affecting vision. 1/3 of diabetic people will develop a diabetic retinopathy. lorechePAGE 8

THERE is an ongoing debate as to whether the present appreciation of the peso is good or bad news for our country.

Last week, the peso was valued at P41.08 to one US dollar, which alarmed some sectors in the Philippine economy, particularly the families of migrant Filipino workers a nd t he expor t industry.

It can be recalled that in 2007, the Philippine peso emerged as one of the top performing currencies in Asia and hit a 7 and ½-year high of P41 to US$1 in December of that year.

According to the Department of Economic Research of the Bangko Sentral ng Pilipinas, a firm currency is generally welcome news as it ref lects positive developments in the country’s economic fundamentals.

Filipino consumers benefit greatly from a firmer peso because it means lower prices in peso terms for imported goods and services.

For example, a strong peso can shield our country from high world oil prices.

Thus we are protected from

consequences such as higher jeepney fares and transportation costs, and ultimately, steeper food prices for Filipino consumers.

But for sectors such as exporters and OFW dependents, whose earnings are denominated in US dollars, a firmer peso is a negative development. Peso appreciation means that they would now receive fewer pesos for every dollar they exchange.

So what really is this peso-dollar exchange rate, and why is it important?

The exchange rate is the price of a unit of foreign currency in terms of the domestic currency. For example, the exchange rate in the Philippines is conventionally expressed as the value of one US dollar in peso equivalent (i.e., US$1 = P42).

The BSP Department of Economic Research explained in a primer that the exchange rate is important for the following reasons: First of all, it serves as the basic link between the local and overseas market for various goods, services, and financial assets.

Using the exchange rate, we could compare the prices of goods, services, and assets quoted in various currencies.

Exchange rate movements can also affect actual inf lation as well as expectations about future price movements. Changes in the exchange rate tend to directly affect domestic prices of important goods and services.

A st ronger peso, for instance, lowers the peso prices of imported goods and import-intensive serv ices such as transport, thus lowering the rate of inf lation. For instance, an increase in the value of the peso from $1:50 to $1:P40 will lower the price of $1 per liter gasoline from P50 (P50 X $1) to P40 (P40 X $1).

Exchange rate movements can also affect the country’s external sector through its impact on foreign trade. An appreciation of the peso, for example, could lower the price competitiveness of our exports compared to the products of competitor countries whose

Speaking out

IGNACIO BUNYE

currencies have not changed in value. Remember, however, that there are other factors, besides exchange rate that determine external competitiveness, e.g., quality of goods, packaging, market diversification.

Lastly, the exchange rate affects the cost of servicing (including the principa l and interest payments) on the country’s foreign debt.

Peso appreciation reduces the amount in pesos needed to buy foreign exchange that would pay for interest and maturing obligations.

(Concluded next week) Note: You may email us at totingbunye2000@gmail. com.

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Villar... from page 1

the latest Social Weather Stations survey.

From sixth place in October, 2012, Villar took the top fourth place as results of the SWS survey conducted on November 29, 2012 to December 3, 2012 were released and published in several newspapers based in MetroManila.

As reported, the SWS used face-to-face interviews of 1,200 respondents in MetroManila, Luzon, Visayas and Mindanao with the results having a margin of error of plus or minus 3 for national percentage and plus or minus 6 for area percentage.

Reelectionists Loren Legarda and Francis Escudero occupied the first two places with 68 percent and 61 percent, respectively, followed by Sen. Alan Peter Cayetano at third with 58 percent. Villar got 51 percent showing vast improvement from sixth place two months ago.

The standings of the other candidates were: (5th) San

Juan Rep. Joseph Victor Ejercito, 49 percent; (6th – 7th) Senator Aquilino Martin Pimentel III and Cagayan Rep. Juan Ponce Enrile, Jr., 46 percent; (8th) Senator Gregorio Honasan, 43 percent; (9th-10th) Maria Lourdes Nancy Binay, and former Senator Juan Miguel Zubiri, 41 percent; (11th) Senator Antonio Trillanes IV, 40 percent; (12th) former Senator Richard Gordon, 37 percent; (14th) former Senator Maria Ana Consuelo Madrigal, 30 percent; (15th) former Senator Ramon Magsaysay, Jr., 29 percent; (16th) former Senator Ernesto Maceda, 25 percent; (17th) Paolo Benigno Aquino IV, 24 percent; (18th) Riza Hontiveros, 21 percent; (19th) Rep. Milagros Magsaysay, 14 percent; and (20th) Mary Grace Poe-Llamanzares, 13 percent.

Ports... from page 1

areas of these ports “for the planning and development of the necessary port facilities… to support the demands of

shipping trade within the region.”

EOs 100-110 cover the ports of Currimao in Ilocos Norte; Capinpin in Bataan; Cawayan in Masbate; Danao in Escalante, Negros Occidental; Ubay in Bohol; Calubian in Leyte; Benoni in Camiguin; Kolambugan and Tubod in Lanao del Norte; Aras-asan and Cantilan in Surigao del Sur. And covered by EOs 111-119 were the ports of Dapitan and Sindangan in Zamboanga del Sur; Maco in Compostella Valley; General Santos City; Cotabato City; Kalamansig in Sultan Kudarat; Tubigon in Bohol; Guinsiliban in Camiguin; and Dapa in Siargao Island.

While the EOs placed the ports under the PPA’s jurisdiction, PPA General Manager Juan C. Sta. Ana said the 20 are governmentowned ports and have always been under the PPA’s jurisdiction.

“The EOs just reiterated this,” he clarified by phone.

Mr. Sta. Ana said the ports need sprucing up, depending

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on traffic.

“Some may already have adequate space for large cargoes, some will need to be further developed. It depends on the capacity of the port given the traffic in the area,” he added.

He said Malacañang will issue 50 more EOs to cover other ports.

“There is a need to delineate the ports through an EO to validate exact boundaries for planning and development purposes,” he said.

APEC... from page 1

Office said the city’s peace and order program, facilities and collaboration of local officials with the national government agencies and private sector impressed the group.

“We could at least host the APEC Senior Officials’ Meetings (SOM) if not the APEC Economic Leader’s Meeting (AELM),” Alabado said.

Expected delegates in the AELM numbering about 4,200 include heads of economies, ministers of foreign affairs and ministers for trade, APEC senior officials, business leaders, representatives from the government, private sector and media.

Alabado said the city is more viable to host the APEC Senior Officials’ Meeting with expected participants of at least 800 to 1,300 only.

Series of convention and meetings during the SOM can be accommodated by existing convention centers like SMX Davao Convention Center with a sitting capacity of about 5,000 delegates, Alabado added.

Once the national government decided to pick the city, Alabado said the city will put up necessary support to make it ready for the APEC, like augmenting the airport

and improve highways being part of infrastructure development.

Ford... from page 3

second quarter of next year.

Last month, Ford opened Ford Pampanga and Ford Alabang, which will be one of the largest full sales and service facilities in the ASEAN region.

“With the consecutive launches of our best-in-class Ford vehicles and the aggressive expansion of our nationwide dealer network, we are committed to going further and making the Ford brand even more accessible to our customers across the Philippines,” Krieger said

Banana... from page 5

given special assistance by the government,” he said, adding that the interest rate for the loans would be lower than 6 percent per annum.

The banana industry has incurred the biggest damage at P7.436 billion as the typhoon destroyed 154,446 metric tons of crops. Of the 26,743 hectares of plantations

Loreche... from page 6

Pamper those eyes. These are but simple steps that anyone of us can easily do: Nutrition plays a vital role in keeping our eyes healthy.

There is truth to our parents ‘ prodding that we eat carrots and squash ( my favourite vegetable indeed ), or any yellow and orange colored foods as these are rich sources of Vitamin A. When reading or writing, there must be good lighting.

Otherwise, the eye muscles get strained and fatigues easily. Wear sunglasses with the capacity to protect the eyes from Ultraviolet rays.

For those whose occupation entails grinding, hammering or wielding, the use of protective eye wear is very important , as it will keep foreign bodies and extra heat from affecting the eyes.

For those who are users of contact lenses or with

that lay in the typhoon’s path, 25,907 hectares could no longer be recovered.

Earlier, Alcala warned that the banana industry is unlikely to deliver on export commitments after Pablo laid to waste the country’s top banana-producing areas.

He said DA field personnel are gathering tissue cultures from surviving banana nurseries and private culture growers for distribution to farmers whose crops were damaged.

State-owned Philippine Crop Insurance Corp has set aside P22 million to cover the claims of insured farmers, Alcala said, adding that most banana growers are insured. The DA is also seeking a supplementary budget to finance rehabilitation of damaged infrastructure.

Honda... from page 3

ing to Honda and the Land, Infrastructure, Transport and Tourism Ministry.

The models subject to the recall starting Friday are the CB400 Super Four and the CB400 Super Bol D’or, they said. eyeglasses, keeping the prescription up to date is the rule rather than the exemption.

The washing of hands prior to touching the eyes is another simple but basic protection that anyone can follow. Should you experience redness and dryness of the eyes, self medicating with the over the counter eye drops may do more harm than good. It cannot be over emphasized the need to seek the help of our Ophthalmologist friends.

And for those who have diabetes or hypertension, keeping the levels of the sugar and blood pressure under control will help keep these tiny organs from getting more damaged.

Ever y thing, from the smallest to the largest organs in the human body, were created , with specific functions, whose ultimate goal is to make life beautiful & significant to be appreciated and to appreciate.

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