BusinessWeek M I N DA N A O CREDIBLE
Volume XIV, No. 150 AS OF 6:00 PM JUNE 1, 2023 (THU)
X
US$1 = P 56.15
0.16
cents
RELIABLE
PHISIX
X
6,477.36
33.31
points
Briefly Emergency loans AC T I V E m e m b e r s a n d pensioners from nine power crisis-affected Occidental Mindoro towns and those affected by flash floods and landslides in Agusan Del Sur can now avail of emergency loan from Government Service Insurance System (GSIS). GSIS President and General Manager Wick Veloso on Thursday said a total of 17,010 active members and 1,563 old-age and disability pensioners working or residing in the municipalities of San Jose, Magsaysay, Calintaan, Rizal, Sablayan, Santa Cruz, Mamburao, Paluan and Abra de Ilog, as well as in Prosperidad may apply for the emergency loan until June 21. “Having the financial means to provide for basic needs amidst a natural disaster is important," he said, saying that the state pension fund is readying over P437.5 million for this purpose.
Maharlika fund THE bill seeking to establish the Maharlika Investment Fund (MIF) is now awaiting the signature of President Ferdinand R. Marcos Jr. This comes after the House of Representatives formally adopted the Senate's version of the MIF bill during the plenary session on Wednesday night. Earlier in the day, House committee on banks and financial intermediaries chair Irwin Tieng said the House contingent to the bicameral conference committee agreed to accept the provisions under Senate Bill 2020.
$176M fishery fund THE World Bank on Wednesday approved a $176 million fisheries and coastal resiliency project. In a s t ate m e nt , t h e World Bank said the Philippine Fisheries and Coastal Resiliency Project (FISHCORE) seeks to improve fisheries management, enhance the value of fisheries production, and elevate incomes in selected coastal communities. The project is expected to benefit more than 1.5 million fisherfolk, small-to-medium businesses, and residents in coastal communities.
IN-DEPTH
Gov’t forges pact to push M’nao tourism www.businessweekmindanao.com
Market Indicators FOREX
YOUR MINDANAO-WIDE BUSINESS PAPER Fri-Sat | June 2-3, 2023
P15.00
Z
AMBOANGA City – The Department of Tourism (DOT) forge d an ag re ement here We dnesday w ith the Department of National Defense (DND) and the Department of the Interior and Local Government (DILG) to boost Mindanao's tourism industry. DOT Secretary Christina Garcia-Fras co s aid t he signing of a memorandum of agreement (MOA) with the partner government agencies is in line with the vision of President Ferdinand R. Marcos Jr. to develop Mindanao through tourism. Frasco said Mindanao has many things to offer to tourists, both foreign and domestic, since it is rich in natural re s ource s and c u ltur a l heritage. “This (Mindanao) is a land of promise, a land of diversity and rich cultural UNLOADING TUNA. Laborers unload a box of yellow fin tuna from General Santos City at Bankerohan heritage,” Frasco said in an Market, Davao City on Tuesday, May 30, 2023. Mindanews Photo TOURISM/PAGE 7
approach needed to 7 nabbed, P4.1-M smuggled Holistic address water woes in Normin cigars seized in Zambo City By MIKE BAÑOS Editor-at-Large
Z A M B OA NG A C it y – Authorities here have arrested seven suspects and seized some P4.1 million worth of smuggled cigarettes in this southern port city, a top police official said Wednesday. Col. Alexander Lorenzo, Zamboanga City Police Office director, identified the arrested suspects as Atara Sakilan Wahab, 60, motorboat skipper; Jester Ares, 22; Nabil
Ab du r a s a d , 5 0 ; E l d i s e n Ahalil, 29; Omar Mahmor, 24; Mhamor Baddon, 48; and Khay Atara, 19. Lorenzo said the group was blocked with the smuggled shipment around 9:30 p.m. Tuesday near Manalipa, an island village in this city. Operatives of the 2nd Zamboanga City Mobile Force Company (2ZCMFC) together with Bureau of Customs (BOC)
DAVAO City — Former Sarangani Governor Miguel Rene Alcantara Dominguez has joined the 60-year-old Alsons Development and Investment Corporation (Alsons Dev) as its new SEIZED Authorities arrest seven suspects directorCIGARETTES. who will oversee and seize some P4.1 million worth of smuggled the business strategy and cigarettes near operations of theManalipa premier Island, Zamboanga City Tuesday (May 30, property developer and2023). real The contraband came from Jolo, Sulu, and was estate pioneer in Davao City. bound for Pagadian City, Zamboanga delrealSur when intercepted. (Photo Alsons Dev is the estate courtesy of 2ZCMFC)
personnel were on seaborne patrol when they chanced upon a motorboat marked “Dickies” in the waters off Manalipa. The motorboat, which is manned by a seven-man crew, was found loaded with 119 master cases of assorted cigarettes worth P4.1 million. Lorenzo said the crew failed to present documents of the cigarettes t h e y w e re t r a n s p or t i n g from Jolo, Sulu bound for Pagadian City, Zamboanga del Sur. He said the arrested suspects and their contraband were taken to the 2ZCMFC headquarters for inspection and inventory before their turnover to the BOC for proper disposition. The confiscation of smuggled cigarettes Tuesday was the fourth here for this month. On May 5, police and BOC operatives arrested two suspects and seized PHP4.4 million worth of smuggled cigarettes in the waters of coastal Recodo village. On May 10, police arrested a suspect while some P3.9 million worth of smuggled cigarettes were
CIGARS/PAGE 7
AN integrated, holistic and multi-sectoral approach is urgently needed to address the increasing water demand in Northern Mindanao. “For us here in Cagayan d e O r o C i t y, w e h a v e recognized the magnitude of our challenges with regards to all four aspects of the water security discussion,” said City
Mayor Rolando “Klarex” Uy in his message at the recently concluded Northern Mindanao Integrated Water Security Summit held May 25-26 at the Seven Seas Waterpark & Resort in Opol, Misamis Oriental. “We recognize that we need to secure and distribute clean potable water for our households and inhabitants... secure our ecosystem to ensure
HOLISTIC/PAGE 7
ELECTRIC TRICYCLE. Electric tricycles are slowly replacing the customized bicycles or trisikad as a means of public transport in Davao City. Mindanews Photo taken May 31, 2023
Editorial and advertising email : businessweekmindanao@gmail.com • Cell Number : 0917-7121424 • 0947-8935776