BusinessWeek MINDANAO
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Issue No. 138, Volume III •
Cagayan de Oro City
Wednesday-Thursday
Now every Mondays, Wednesdays, & Fridays
December 19-20, 2012
P15.00
Market Indicators
As of 5:57 pm dec. 17, 2012 (Monday)
FOREX
PHISIX
US$1 = P41.04
5,623.85 points
83.26 points
X
X Briefly 5 cents
Rice harvest
PALAY production in Northern Mindanao grew by about five percent in the third quarter of 2012, the National Economic and Development Authority (NEDA) said. A total production of 151,278 metric tons was posted during the quarter compared to the 144,805 metric tons produced in the same quarter last year, said Engr. Cecilio Clarete, chief economic development specialist of NEDA in the region in a media forum last Thursday. He said the average yield for the quarter also increased by 0.17 percentage points to 4.30 metric tons per hectare from the 4.13 metric tons recorded last year.
Coco export
EXPORT of coconut commodities has earned for the region US$117.72 million during the third quarter of 2012. Records from the Philippine Coconut Authority (PCA) region 10 show that the value of export sales during the period was higher by two percent from the US$115.29 million earned in the same period in 2011. The volume of coconut commodities exported during the quarter, on the other hand, grew remarkably by 56 percent to 113,203 metric tons, totally recovering from a 27 percent reduction in the first quarter of the year.
Corn produce
THE province of Bukidnon is still the biggest corn producer in Northern Mindanao contributing 64 percent to the overall corn production in the region during the third quarter of 2012. Data gathered by the National Economic and Development Authority (NEDA) from the Bureau of Agricultural Statistics (BAS) in the region shows that Bukidnon produced 286,465 metric tons of corn during the quarter lifting the region’s production output by almost six percent to 448,855 metric tons. The province’s output was primarily due to the planting of white corn to some sugarcane areas, as well as, additional planting of yellow corn in hilly and mountainous areas of Malaybalay and Cabanglasan, Engr. Cecilio Clarete, NEDA-10 Chief Economic and Development Specialist said.
T
By IRENE DOMINGO, Reporter
HE Philippine Deposit Insurance Corp. (PDIC) said the Philippine Postal Corp. (PPC) started mailing the payment for valid savings deposit accounts with balances of P15,000 and below maintained with the closed Siam Bank on Friday, 21 days after the bank’s closure on Nov. 23, 2012.
The payments are in the form of postal money orders (PMOs) sent through registered mails which may be encashed either with the local postal office or the nearest branch of the Land Bank of the Philippines. According to the PDIC, postal money order payments were made to 2,510 accounts or 55% of the 4,550 accounts maintained with Siam Bank. Under this automatic payment scheme, depositors who have savings accounts with balances of P15,000 and below, who have no outstanding loans or obligations with Siam Bank; and who have complete and updated addresses in the bank’s records or have updated their addresses using the PDIC Depositor Update Forms are not required to file their deposit insurance claims. The waiver of the requisite filing of claim provided convenience to these small depositors by providing them immediate access to their deposit insurance. Meanwhile, the PDIC announced that it will pdic/PAGE 7
Las Piñas marks 7th Parol Fest • Recycled and indigenous materials used to reflect Christmas spirit
LAS Piñas once again proved that it is ‘the lantern capital of Metro Manila’ as residents of its barangays showed their ingenuity in creating the best Christmas parols (lanterns) using recycled and indigenous materials at the 7th Parol Festival’s lantern-making competition. “We are pleased that the Parol Festival is becoming popular not only here in Metro Manila but in other parts of the country as well. I always promote the festival when I attend festivals in other provinces. This is a big boost to our three-generation parol-making industry,” said Cynthia Villar, Managing Director of the Villar Foundation, which is in charge of the yearly festival. The festival is the brainchild of the Former Congresswoman of Las Piñas. In 2007, she encouraged the city’s magpaparols (lantern-makers) to
Former Las Piñas Rep. Cynthia Villar and husband Sen. Manny Villar giving the award for the winner of the 7th Parol Festival. advertorial
organize themselves into the ‘Samahang Magpaparol ng Las Piñas’. And to support them, the then Congresswoman Villar set up the Las Piñas Parol Center, which serves as a training area for the lantern-makers. “We want this unique tradition of parol-making to be
continued carried on by the younger generations, so we support the industry as much as we can,” said Mrs. Villar. This year, the Parol Festival will be held at its new venue—the Villar Social Institute of Poverty Alleviation parol/PAGE 7
JV surges on top in latest SWS survey By ALLAN MEDIANTE
THE latest Social Weather Stations survey conducted November 29, 2012 to December 3, 2012
showed Rep. JV Ejercito Estrada among the top five winning senatoriables with 49 percent. The SWS reports used facesurvey/PAGE 7
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