BusinessWeek Mindanao (February 18-19, 2013 Issue)

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BusinessWeek MINDANAO

YOUR LOCAL ONLINE BUSINESS PAPER

www.businessweekmindanao.com

Issue No. 165, Volume III •

Market Indicators As of 5:56 pm feb. 15, 2013 (Friday)

FOREX

PHISIX

US$1 = P40.60

6,521.64 points

X X Briefly 3 cents

8.23 points

‘Green’ City

BUTUAN City -- The local government here is aiming to transform Butuan into a green city where Butuanons live peacefully in resilient communities by 2020. This is what Mr. Pierre Anthony Joven of the city’s Economic Development Cluster said during Monday’s launching of “Kukabildo,” a regular press forum where different clusters organized by the city government are featured as the cluster team members will give their report to the city government and the local media on their accomplishments, as well as their plans and programs. In his presentation, Mr. Joven said in order to develop human capital, infrastructure and competitiveness, as well as to generate employment, increase household income, and ensures environmental sustainability, there is a need for the city government to institutionalize economic fundamentals by developing transportation, infrastructures, policies, and ease of doing business.

Samal project

DAVAO City -- The Island Garden City of Samal (IGaCoS) will be allocated at least P245-million worth of infrastructure projects for 2013 mostly to be used in the upgrading of its road network. Department of Public Works and Highways Davao del Norte District Engineer Fernando Ongkingco Jr. said the allocation will be used to fund the improvement and upgrading of the city’s circumferential road. The development of the road is identified as an infrastructure project support to IGaCoS being one of the tourist destinations in the country. The project identification and budget allocation is based on the provisions of Republic Act 9593 (Tourism Act of 2009) which identifies infrastructure requirements in tourism areas to be accorded priority status in funding and implementation of said program.

Cagayan de Oro City

Monday-Tuesday

Now every Mondays, Wednesdays, & Fridays

February 18-19, 2013

P15.00

Govt confident M’danao power crisis over soon T

By MELLEZA VILLARIZA, Staff Member

HE Department of Energy (DOE) is confident that power shortage in Mindanao will be addressed by the interruptible load program (ILP).

SOUVENIR FOR THE BISHOP. United Nationalist Alliance (UNA) leading senatorial candidate San Juan Rep. JV Ejercito Estrada gave Cebu Archbishop Jose S. Palma a souvenir campaign t-shirt during his recent courtesy call to The Most Reverend at the Archbishop’s Palace in Cebu City. advertorial

JV says millions of house-helpers protected with Batas Kasambahay By ALEX IRASGA

SAN Juan Rep. JV Ejercito Estrada said the newly-

enacted Domestic Workers’ Act or “Batas Kasambahay” was welcomed by many sec-

tors because it protects the rights of 2 million houseprotected/PAGE 7

Energy Secretary Carlos Jericho Petilla said 12 entities have received Energy Regulatory Commission (ERC) approval and pointed out that the approved ILP participants “can even run now.” He said nine other ILP participants have pending ERC approval. “Hopefully they will get the approval before the elections,” he said. Under ILP, private companies that have power generators need not tap electric distribution utilities (DUs) for their need but instead use their own facilities. In turn, they will be paid by the DUs based on the fuel and oil used in running the generators and on the depreciation of the equipment. The 21 ILP participants are projected to unload 160 megawatt capacity from DUs in the area.

Petilla said the power shortage in Mindanao will also be addressed once the 300-megawatt power plant of Aboitiz Power in Davao opens within the first quarter of 2015. “From now until 2015, that’s the question - what do we do,” he quipped. Another solution eyed to address power shortage in Mindanao is the Interim Mindanao Electricity Market (IMEM). Under this system, big entities that own generators can be tapped to provide electricity to power cooperatives. Petilla said the funds for the IMEM program is already with the Philippine Electricity Market Corp. (PEMC) but PEMC cannot start the program due to lack of ERC approval. power/PAGE 7

BPI grants Italpinas loan for Green Condo Tower 2 THE Bank of the Philippine Islands (BPI) recently granted a P 180-million green development loan to Italpinas EuroAsian Design and Eco-Development Corporation to partially finance the construction of its Primavera

Residences Tower 2. “BPI advances its Sustainable Energy Finance (SEF) by continuing to support the energy investments of its clients,” BPI said in a statement. “In collaboraitalpinas/PAGE 7

J.P. RIZAL - CRUZ TAAL STS., (NEAR SHANGHAI BAKERY) DIVISORIA, CAGAYAN DE ORO CITY

PROCLAMATION RALLY. Liberal Party senatorial bet Mrs. Hanep Buhay Cynthia Villar during the proclamation rally of Team PNoy at Plaza Miranda. President Benigno Aquino, the party head, describes the former representative from Las Piñas as a ‘motherly’ person that provides livelihood to her children. advertorial

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