BusinessWeek Volume IV, No. 3
www.businessweekmindanao.com
M I N DA N AO
P15.00
June 23-29, 2013
YO U R L O C A L B U S I N E S S PA P E R
The spirits, flora, fauna thrive in Mount Kitanglad
..see page 2
‘The future is in our fiber’ – Nazareno By Cheng Ordoñez, Editor-in-Chief
MAKATI – Philippine Long Distance Company, Inc. (PLDT) and Smart Communications, Inc. President and Chief Executive Officer Napoleon Nazareno revealed a glimpse of the country’s telecommunications future, saying, it rest on PLDT and Smart Communications’ “fiber”. Sp e a k i n g at t h e A n nu a l Stockholders Meeting on June 14, at the Makati-Shangrila, Nazareno said the year 2012 was a year of transition for PLDT. ‘We undertook the integration of Digital and Sun C ellular into the group. We completed ahead of schedule our network transformation program, fortifying our advantage in the delivery of data services over our fixed and wireless networks,” he said.
Napoleon Nazareno
He admitted that they were faced with intense competition last year, hence, the group strengthened its position in the mobile business. “We rationalized our business portfolio leading to the sale of our outsourcing business and moved towards greater involvement in the multimedia space. Our financial and operating results were shaped by this transition process.” Mr. Nazareno revealed during the meeting that service revenues
from continuing operations rose 10% year-on-year to P160.2 billion in 2012, following a 13% increase in wireless business revenues to P108.9 billion and a 4% rise in fixed line revenues to P51.3 billion. The BPO business registered revenues of P9.1 billion in 2012. With the intended sale of the BPO business, its f inancials were classified as discontinued operations, he said. Future/PAGE 11
Mindanao fish canneries owe workers P53M—DOLE By Bong S. Sarmiento
KORONADAL CITY — Several fish processing companies in Mindanao found to have violated labor standards were ordered to pay their workers benefits amounting to P52.9 million. Labor Secretary Rosalinda Baldoz said in a statement released by the Department of Labor and Employment (DOLE) in Region 12 here that the agency conducted a rapid audit on fish canning companies in the island to ensure the rights and safety of their workers. DOLE/PAGE 11
Joblessness, sustaining growth top businessmen’s concerns (Second of four parts)
A vendor shows dried flying lizards, which he sells at P100 each in an effort to make money. Businessmen worry about the growing joblessness amid sustaining growth of the country. mindanews photo
WHAT is most ironic in the phenomenal economic growth that the Philippines is currently enjoying is that this does not really translate to jobs creation. If the Aquino government would like to achieve its “inclusive growth” objective, then it should provide jobs to Filipinos. Without jobs, the much touted economic gains are unreal or at best benefiting only the upper echelons of the society as wealth did not trickle down to the poorest of the poor. The country’s unemployment rate rose to 7.5 concerns/PAGE 10
Sen. Manny Villar was recently conferred the 2013 Outstanding Professional of the Year Award in the field of Real Estate Service by the Professional Regulation Commission for “revolutionizing the housing industry as the biggest homebuilder in Southeast Asia, having built more than 100,000 houses for the poor and middle class Filipino families”. Villar was accompanied by his wife, Senator-elect Cynthia Villar, during the Awards Night held at Manila Hotel’s Fiesta Pavilion in Manila.
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