BusinessWeek MINDANAO
NOW
YOUR LOCAL ONLINE BUSINESS PAPER
www.businessweekmindanao.com
Issue No. 129, Volume III •
Cagayan de Oro City
Wednesday-Thursday
every Mondays, Wednesdays, & Fridays
November 21-22, 2012
P15.00
Market Indicators
AS OF 5:46 PM NOV. 19, 2012 (Monday)
FOREX
PHISIX
US$1 = P41.18
5,449.55 points
X X Briefly 15 cents
10.27 points
Mining revenues
GENERAL Santos City -- The provincial government of South Cotabato has posted record revenues in mining and quarry fees during the first three quarters of the year, thanks to its continuing crackdown against illegal small-scale mining and quarry operations in the area. Siegfred Flaviano, acting head of the Provincial Environment Management Office (PEMO), said the local government’s mining and quarry fee collections from January to September this year reached a total of P12.8 million, which is around P3.6 million more than the recorded income during the entire 2011. He said they expect their collections to further increase towards the end of the year as the bulk of the payments usually come in during the last quarter.
Ad Congress
DAVAO City -- The city is bidding anew as host of the Philippine Advertising Congress (Ad Congress) next year. Davao City acting Promotions and Investment Center chief Jason C. Magnaye said the city has now higher chances of winning the bid this time since it already has a convention center that can accommodate 2,500 to 5,000 guests. He also said the city’s hotels have a capacity of 5,600 rooms and Davao City is competing with Subic, Zambales for the 23rd Ad Congress hosting.
Digos tourism
THE fire incident that burned down a floating restaurant last week here would not discourage Senior Board Member Mercedes Cagas of the first district from developing more tourist areas in the province. Cagas even committed to make double effort in improving the tourism industry in Davao del Sur after the floating restaurant at Aplaya Baywalk in Digos City was razed in fire by still unidentified perpetrators. Aplaya Baywalk, patterned from Baywalk at Roxas Blvd. in Manila, is one of the beach resort projects being developed by the provincial government as initiated by Cagas as chair of the Tourism Committee of the Sangguniang Panlalawigan.
T
By MIKE BAÑOS, Correspondent
HE Northern Mindanao Regional Development Council-Advisory Committee (RAC) recently met with officials of the Department of Energy to discuss possible measures to address the energy shortage in Mindanao.
JOB RATE DOWN. Despite the newly-established businesses in major cities in northern Mindanao, particularly in Cagayan de Oro, the region’s employment rate is still down during the first half of the year, the National Statistics Office-10 recently reported. BWM File Photo
Villar says they just want to serve
Villar
THREE-term Las Pinas Rep. Cynthia Villar has asserted that their running in an election is merely all about public service and not building a political dynasty. “We just want to serve,” said Villar, whose husband, Sen. Manny
Villar was a former Speaker of the House of Representatives and Senate President. Senator Villar’s term ends in 2013. Their son, Mark, is seeking his second term as congressman VILLAR/PAGE 7
The RDC-X RAC which includes RDC-X officers and the region’s representatives to the Senate and House of Representative, met November 12, 2012 at the House of Representatives in Quezon City. In her presentation, Energy Undersecretary Josefina Patricia Asirit said Mindanao is currently experiencing a shortage in power supply since the installed capacity in the island’s grid of 2,022 megawatts (MW) has only been delivering a dependable capacity of 1,616 MW forcing electric cooperatives to implement rotating brownouts. Usec. Asirit attributed the shortfall to low water inflow at the Pulangi hydroelectric power plant and the de-rating of the Agus HEP. Latest industry data show this has caused a power curtailment of around 380 MW on the grid. At present, Ms. Asirit said the DOE is coping with the situation by closely monitoring the daily operations of the Mindanao grid, maximizing dispatch from the 200MW available from the power barges of Therma Marine, Inc.; repairing the Pulangi IV HEP; and uprating Units 1 and 2 of the Agus 6 HEP. POWER/PAGE 7
Balanced energy mix seen as key to solving Mindanao power crisis By IRENE DOMINGO Reporter
DAVAO City -- Mindanao needs to attain a balanced mix of energy sources to maintain its competitiveness, ensure reliability of supply and build a sustainable solution to its power crisis.
This was the solution put forth by Manuel M. Orig, First Vice President for Mindanao Affairs during his presentation to the Davao Investment Conference held at the SMX Convention Center in SM Lanang Premiere ENERGY/PAGE 7
Editorial and advertising email : businessweekmindanao@gmail.com • Cell Number : 0917-7121424