Money Lessons from Dr. Jose Rizal
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Mindanao Daily CARAGA
Your Mindanao-wide Newspaper
www.businessweekmindanao.com
Volume II, No. 318
Monday
P15.00
June 3, 2013
DAR secretary’s visit to Agsur inspires workforce SAN FRANCISCO, Agusan del Sur - Agrarian Reform Secretary Virgilio “Gil” De Los Reyes visited DAR Agusan del Sur field office, May 29, boosting the morale of his workforce in the area in delivering the target for this year. During the occasion, Secretary De Los Reyes urged DAR Agusan del Sur to distribute the 5,265 hectares target for the year to the qualified agrarian reform beneficiaries. “As a department, we have to ensure that we are able to deliver. We have to prove that the DAR personnel can change and make things possible, “ Secretary De Los Reyes said. Sec. de los Reyes proceeded to Lianga, Surigao del Sur to talk with the province’s federation of agrarian reform people’s organization, in a joint action planning with the agrarian reform
beneficiaries of Agusan del Sur, under the federation development component of ARISP 3. Together with Sec. de los Reyes was DAR Regional Director Faisar Ali Mambuay, Assistant Regional Director for Operations Andre B. Atega, Assistant Regional Director for Administration Daylinda P. Narisma and other officers of DAR Caraga. The Provincial Agrarian Reform Officers (PAROs ) from the other the provinces of DAR CARAGA were also present. (Genelyn Luis, PIO-DAR/DMS/Agusan del Newspaper Publisher Dante Sudaria (left) and Misamis Oriental Governor Oscar Moreno, now Cagayan de Oro City mayor-elect, show Business Daily and its sister publication Mindanao Daily during the just-held 65th anniversary Sur/asf) of the Rotary International held at the VIP Hotel in Cagayan de Oro City. Photo by Rolando Sudaria
Lobregat cries ‘unfair’ on US travel advisory
ZAMBOANGA City––Mayor Celso Lobregat on Thursday described the latest United States government travel advisory against this city as “very unfortunate and unfair.” Lobregat issued the statement as he noted the travel advisory was issued Wednesday when US Ambassador Harry Thomas Jr. was here together with other US Embassy officials and “nothing untoward happened.” The US travel advisory said: OVERTIME WORK. Laborers work on the drainage of Iligan City’s still unfinished circumferential “The US Embassy wishes to alert road, more popularly called as C3, Saturday morning, 1 June 2013. MindaNews photo by Bobby Timonera US citizens that a credible threat of
Protection for 15 million informal workers mulled By CRIS DIAZ, Associate Editor
CAGAYAN de Oro City––Around 15 million vendors, drivers, barbers, tailors, fishermen, barbers, plumbers, tailors and construction workers nationwide stand to benefit from a social protection program designed by the Trade
Union Congress of the Philippines (TUCP), various executive departments and local government units. On Thursday, the TUCP, the Department of Labour and Employment (DOLE), the Union of Local Authorities of the mulled | page 11
a terrorist kidnapping-for-ransom (KFR) plot against foreigners has been identified in the Zamboanga area on the island of Mindanao. As a result, the Embassy advises all American citizens residing in or planning to travel to the Zamboanga area to reevaluate their personal safety situation and consider postponing travel to this area at this time.” Thomas led the launching Wednesday of three projects funded by the US government through the United States Agency
UNFAIR | page 11
Manufacturers in survival mode over strong peso MANY local manufacturers remained in the “survival mode” given the strengthening of the peso despite the slight rebound in Philippine exports in March. Oscar Barrera, who represents the Philippine Exporters Confederation Inc. (PHILEXPORT) in the Competitive Currency Forum (CCF), believes that local businesses sell more products even at low prices to compensate for reduced earnings. “When a businessman is experiencing lower profits, his survival instinct is to sell more, as
long as his revenue is greater than his cash costs of production or direct variable costs. And even if he is already losing cash, he will try to survive by borrowing until his bank finally forecloses on his properties. He will continue to pray and hope that things will turn around,” he explained. Barrera stressed that the appreciation of the peso against the United States dollar continued to hurt exporters even as the country’s exports revenues rose measly in March. peso | page 11
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