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Issue No. 130, Volume III •
Cagayan de Oro City
Friday-Saturday
every Mondays, Wednesdays, & Fridays
November 23-24, 2012
P15.00
Market Indicators
As of 5:58 pm Nov. 21, 2012 (Wednesday)
FOREX
PHISIX
US$1 = P41.14
5,543.18 points
X X Briefly 3 cents
33.60 points
Truck ban
CAGAYAN de Oro Mayor Vicente Emano has ordered the Roads and Traffic Administration to strictly implement an ordinance which bans the entry of trucks in the central business district of the city during specific hours. This, after he received complaints regarding traffic problems especially along the national highway. The mayor ordered the impounding of trailer or cargo trucks, container vans and other such vehicles found violating the law. The mayor likewise directed the RTA to impound vehicles that use the road as a garage causing traffic problems.
Completion of the study expected first quarter next year
I
N a bid to provide a short-term solution to the power shortage in Mindanao, the private operator of the country’s power transmission highway on Wednesday said it would fast tract the completion of a study that would interconnect Leyte and Mindanao.
COLA hike
WORKERS in agriculture and retail service sectors in Soccsksargen Region will receive P4 to P6 per day additional cost of living allowance (COLA) beginning December 1. Jesse dela Cruz, secretary of the Regional Tripartite Wages and Productivity Board (RTWPB) 12, said the increase comprises the second tranche of the COLA mandated in the Wage Order No. RB XII-17 that became effective on April 18 this year. Workers in the plantation agricultural enterprises will receive P4 daily allowance while those in the non-plantation agriculture sector will get P6 increase.
P3-B BEAM project
Education Secretary Armin Luistro, ARMM Governor Mujiv Hataman, and AusAid DirectorGeneral Rod Brazier recently signed the Memorandum of Subsidiary Arrangement (MSA) for the implementation of Basic Education Assistance for Mindanao in the Autonomous Region in Muslim Mindanao (BEAM-ARMM). With project cost of P3.927 billion, funding source of the five-year BEAM-ARMM include the Australian Aid (AusAid), United Nations Childrens’ Fund (UNICEF), GIZed, Fit for School, Cardno, and BRAC (Bangladesh Rural Advancement Committee) for literacy programs and projects in the provinces of Basilan, Lanao del Sur, Maguindanao, Sulu, and Tawi-Tawi and cities of Lamitan and Marawi.
By IRENE DOMINGO, Reporter
OFW AND FAMILY SUMMIT 2012: Villar Foundation Managing Director Cynthia Villar announces the holding of the 2nd OFW & Family Summit 2012 which was held yesterday, Nov. 22, at the World Trade Center in Manila. The summit enables the families of Filipino overseas workers to learn about entrepreneurship, and gain business ideas and livelihood opportunities. With Villar are GoNegosyo Founder Joey Concepcion and GoNegosyo Exec. Director Ramon Lopez. Advertorial
National Grid Corp of the Philippines spokesperson Cynthia Alabanza said the company is looking at two interconnection points: Dumaguete-Dipolog or LeyteSurigao. Aside from the route, NGCP is studying the technology required and cost of pursuing any of the two options, she said. Mindanao suffers from
a 200-300 megawatt shortfall in electricity, which according to Alabanza can be sourced from either Luzon or the Visayas. Once it completes its feasibility study on the interconnection project, NGCP will present its report to the Energy Regulatory Commission. Alabanza said the comgrids/PAGE 9
SYSTEM operator and transmission service provider National Grid Corporation of the Philippines (NGCP) clarified that there has been no increase in transmission charges amidst reports that there will be an NGCP rate hike this November. “NGCP’s annual maximum allowable revenue (MAR), which is billed in the form of transmission rates, is
being fixed and approved by the Energy Regulatory Commission (ERC) on a yearly basis,” Spokesperson and Adviser for External Affairs Atty. Cynthia P. Alabanza explained. Alabanza put in context reports that the higher cost of electricity is caused in part by higher transmission charges, particularly ancilrate/PAGE 9
Villar Foundation braces for No transmission rate 2nd OFW & Family Summit increase, NGCP says
AFTER the successful ‘1st OFW & Family Summit 2011: Kabuhayan Para sa
Kinabukasan’ that attracted over 5,000 participants, the Villar Foundation and
GoNegosyo will hold the ‘2nd OFW & Family Sumsummit/PAGE 9
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