Business In Davao » buisness http://businessindavao.com SITE UNDER REPAIR Mon, 14 Mar 2011 04:40:12 +0000 en hourly 1 http://wordpress.org/?v=3.1.2 Rice and nurses http://businessindavao.com/2010/06/28/rice-and-nurses/ http://businessindavao.com/2010/06/28/rice-and-nurses/#comments Mon, 28 Jun 2010 09:51:52 +0000 admin http://businessindavao.com/?p=399 The Philippines, the world’s largest rice importer, needs to invest more than P12 billion in 2011 to boost paddy yield and minimize dependence on already-tight global supplies.

Frisco Malabanan, director of the Department of Agriculture’s national rice program, said the entire requirement to achieve self-sufficiency in rice by 2013 might even reach P15 billion.

However, the outgoing administration . . . → Read More: Rice and nurses]]> The Philippines, the world’s largest rice importer, needs to invest more than P12 billion in 2011 to boost paddy yield and minimize dependence on already-tight global supplies.

Frisco Malabanan, director of the Department of Agriculture’s national rice program, said the entire requirement to achieve self-sufficiency in rice by 2013 might even reach P15 billion.

However, the outgoing administration allocated only P3.1 billion in 2010 for the national rice program, where the flagship project is to expand the areas planted to hybrid rice.
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Business Inquirer

The falling cost of dollar borrowing for the Philippines, helped by rising remittances, may prompt President-elect Benigno Aquino to raise funds overseas to cover a record budget deficit, according to BPI Asset Management.

The CHART OF THE DAY shows the yield on the 8.375 percent dollar note due in June 2019 has dropped to a record low as cash transfers from overseas Filipinos climb. The yield on 10-year peso bonds was 7.96 percent on June 25, almost 300 basis points more than the rate on the U.S.-currency notes. The lower panel illustrates the monthly budget, with the deficit in the five months ended May exceeding the ceiling for the first half.

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]]> http://businessindavao.com/2010/06/28/rice-and-nurses/feed/ 0 Budget deficit http://businessindavao.com/2010/06/22/budget-deficit-2/ http://businessindavao.com/2010/06/22/budget-deficit-2/#comments Tue, 22 Jun 2010 10:27:24 +0000 admin http://businessindavao.com/?p=376 The Philippines reported a budget deficit last month, relapsing from a surplus in April and causing the five-month shortfall to exceed the government’s first-half target.

The shortfall was 30.5 billion pesos ($668 million) in May, Finance Secretary Gary Teves said in a statement in Manila today. Spending increased 21.3 percent from a year earlier after a 12.1 . . . → Read More: Budget deficit]]> The Philippines reported a budget deficit last month, relapsing from a surplus in April and causing the five-month shortfall to exceed the government’s first-half target.

The shortfall was 30.5 billion pesos ($668 million) in May, Finance Secretary Gary Teves said in a statement in Manila today. Spending increased 21.3 percent from a year earlier after a 12.1 percent gain reported previously for April, and revenue rose 5.3 percent. The five-month deficit widened to 162.1 billion pesos.

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]]> http://businessindavao.com/2010/06/22/budget-deficit-2/feed/ 0 Mining,bonds and DTI http://businessindavao.com/2010/02/23/miningbonds-and-dti/ http://businessindavao.com/2010/02/23/miningbonds-and-dti/#comments Tue, 23 Feb 2010 09:25:40 +0000 admin http://businessindavao.com/?p=199 The office in the Davao Region of the Mines and Geosciences Bureau collected P16.4 million in revenues last year, with excise tax accounting for nearly three-fourths of the total take, an official statement read.

The Mines bureau received a little more than P12 million in excise taxes, with Apex Mining Co. Inc. as the biggest contributor . . . → Read More: Mining,bonds and DTI]]> The office in the Davao Region of the Mines and Geosciences Bureau collected P16.4 million in revenues last year, with excise tax accounting for nearly three-fourths of the total take, an official statement read.

The Mines bureau received a little more than P12 million in excise taxes, with Apex Mining Co. Inc. as the biggest contributor with its gold and silver extraction in Compostela Valley, followed by Holcim Philippines, Inc. which extracts limestone for its cement plant in Davao City.

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The Philippines raised 100 billion yen ($1.1 billion) selling Samurai bonds, completing its 2010 overseas debt plan within two months, as failed peso auctions make it harder to fund a mounting deficit.

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The National Grid Corp. of the Philippines (NGCP) maintained and increased its slash of power supply to the power distribution grid as the water levels in Lake Lanao and Pulangi Dam hover at their critical low levels.

Milfrance Capulong, regional corporate communications officer of NGCP, said the extent of load curtailment would depend on the load capacity of the power utility or electric cooperative.

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THE Department of Trade and Industry (DTI) provincial office in Davao Oriental reported that market matching and linkage activities in 2009 generated high sales valued at P12.117 million, higher by 431 percent as compared to previous year’s P2.811 million only.

More from PIA

]]> http://businessindavao.com/2010/02/23/miningbonds-and-dti/feed/ 0 Carbon,VAT,Rice and no power http://businessindavao.com/2010/02/19/carbonvatrice-and-no-power/ http://businessindavao.com/2010/02/19/carbonvatrice-and-no-power/#comments Fri, 19 Feb 2010 11:48:12 +0000 admin http://businessindavao.com/?p=186

“We need deep and early cut of carbon.”

Climate Change Secretary Heherson Alvarez, in his visit to Davao City yesterday (February 17) urged the business sector in the city to reduce carbon dioxide emissions in the atmosphere.

Although he clarified that the country is not a carbon maker but a carbon taker, he also stressed that Filipinos should . . . → Read More: Carbon,VAT,Rice and no power]]>

“We need deep and early cut of carbon.”

Climate Change Secretary Heherson Alvarez, in his visit to Davao City yesterday (February 17) urged the business sector in the city to reduce carbon dioxide emissions in the atmosphere.

Although he clarified that the country is not a carbon maker but a carbon taker, he also stressed that Filipinos should do their own share of creating a low carbon community.

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President Arroyo extolled the value-added tax (VAT) as having enabled the country to depend less on foreign funding such as the almost $5-billion, 300-kilometer paved coastal road running across eastern Mindanao linking the backwater areas of three provinces that she formally inaugurated on Wednesday.

“It’s one of those projects that have the least foreign funding. It comes from the expanded value-added tax. This is one of the biggest funded projects under our budget,” said the President over dinner on Tuesday evening at the Waterfront Insular Hotel Davao.

More from Business Mirror

The Philippines, the world’s biggest rice importer, will allow private companies to buy 200,000 metric tons, boosting purchases to a record this year, a National Food Authority official said.

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The southern Philippine island of Mindanao may experience power shortages in May, including on the May 10 general elections, data from National Grid Corp. showed.

The Mindanao grid may have a supply deficiency of as much as 144 megawatts in a day in May and a shortage of about 4 megawatts on May 10, data showed. National Grid runs the country’s high-voltage power transmission network.

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The Philippines’ budget deficit widened to a record 298.5 billion pesos ($6.5 billion) in 2009 — around 3.9% of gross domestic product — due to increased spending to stimulate the economy amid the global recession and a slew of tax breaks that reduced revenue.

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]]> http://businessindavao.com/2010/02/19/carbonvatrice-and-no-power/feed/ 0 President in Davao and a high profile kidnapping http://businessindavao.com/2010/02/18/president-in-davao-and-a-high-profile-kidnapping/ http://businessindavao.com/2010/02/18/president-in-davao-and-a-high-profile-kidnapping/#comments Thu, 18 Feb 2010 10:17:57 +0000 admin http://businessindavao.com/?p=182 . . . → Read More: President in Davao and a high profile kidnapping]]> President Arroyo said on Tuesday night that the Philippines would observe the “standard practice” of other countries on aerial spraying of fungicides in banana plantations in Davao.
The President told reporters over dinner at the Waterfront Insular Hotel that a task force, which may be comprised of international experts chosen by the stakeholders, will address the proposed aerial-spray ban in the province.
Businessmen here have expressed alarm over reports that a shipping company executive and his wife were abducted by unidentified men last week and released after the victims paid ransom.

Engineer Robert Quinto, president of the Davao City Chamber of Commerce and Industry, Inc. (DCCCII), said in a statement that the group has set a meeting to discuss the reported ransom kidnapping of Jerry Jimenez, manager of the Solid Shipping Lines, based in Ilang in Tibungco district here.

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Barely two years old in the market, MyPhone, the only Filipino owned mobile phone, is doing good with growth sales going high.

David S. Lim, president and chief executive officer of Solid Group, Inc. (SGI) said with the growing number of units sold they will continue to innovate and create the rightmobile phone designs for Filipinos.

More at Trading Markets.com

]]> http://businessindavao.com/2010/02/18/president-in-davao-and-a-high-profile-kidnapping/feed/ 0 Export Pathway and Outsourcing http://businessindavao.com/2010/02/17/export-pathway-and-outscouring/ http://businessindavao.com/2010/02/17/export-pathway-and-outscouring/#comments Wed, 17 Feb 2010 10:42:50 +0000 admin http://businessindavao.com/?p=176 Two of the major programs being implemented in this region significantly contributed to its export performance of $187 million last year, the Region 11 office here of the Department of Trade and Industry (DTI 11) reported.

In its preliminary annual accomplishment report, DTI 11 said that commodities under the Davao Region’s priority industry cluster products promoted . . . → Read More: Export Pathway and Outsourcing]]> Two of the major programs being implemented in this region significantly contributed to its export performance of $187 million last year, the Region 11 office here of the Department of Trade and Industry (DTI 11) reported.

In its preliminary annual accomplishment report, DTI 11 said that commodities under the Davao Region’s priority industry cluster products promoted under the Export Pathways Program (EPP) generated almost 60 percent of the region’s aggregate export sales in 2009.

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The City of Davao — On the top of the country’s highest peak with an eagle eye, the largest city of the south with the festival of all festivals. I’m referring to Mt. Apo, the Philippine Eagle and Kadayawan Festival which are all the majestic symbols of Davao the largest city in Mindanao. Now the expanding call centers here could be its next great symbol.

Ranked fourth among the top ten next wave zones for outsourcing in the Philippines, the city is attracting investors due to its manpower and availability of infrastructure with a very low power cost and rental. It is highly recommended by the Commission on Information and Communications Technology and the Business Processing Association of the Philippines.

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The Philippine government is preparing to decide on pricing for up to $1bn of samurai bonds as early as next week as part of a plan to fund a budget deficit likely to reach a record this year.

The samurai bonds – yen-denominated bonds issued by overseas entities to Japanese institutional investors – will be partially guaranteed by the state-owned Japan Bank for International Cooperation following its agreement last year to facilitate funding for some emerging economies.

Financial times

]]> http://businessindavao.com/2010/02/17/export-pathway-and-outscouring/feed/ 0 Microsoft slash prices and Minda http://businessindavao.com/2010/02/16/microsoft-slash-prices-and-minda/ http://businessindavao.com/2010/02/16/microsoft-slash-prices-and-minda/#comments Tue, 16 Feb 2010 11:51:15 +0000 admin http://businessindavao.com/?p=173 DAVAO CITY — A new promotion to curb software piracy ending in three months leaves a window of opportunity for Microsoft and its partners to reach out to Internet café owners here.

Fortune A. Magsadia, Microsoft business development officer, told BusinessWorld that the promotion effectively cuts by a fourth the price of licensing Windows operating software and . . . → Read More: Microsoft slash prices and Minda]]> DAVAO CITY — A new promotion to curb software piracy ending in three months leaves a window of opportunity for Microsoft and its partners to reach out to Internet café owners here.

Fortune A. Magsadia, Microsoft business development officer, told BusinessWorld that the promotion effectively cuts by a fourth the price of licensing Windows operating software and the Microsoft Office tools.

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Senate President Juan Ponce Enrile is pushing for the enactment into law of a bill creating the Mindanao Development Authority (MinDA).

In a press briefing on Sunday, Mr. Enrile said the bill, which is awaiting the President’s signature, would pave the way for the island’s full progress.

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Security Bank Corporation of the Philippines (PSE:SECB) achieves record earnings as it reported a net income of P3.06 billion (US$66.30 million) for 2009.

The bank likewise maintains its leadership among private domestic universal banks in providing shareholders the highest return on equity with an average of 20.9 per cent, up from the 19.2 per cent recorded a year earlier.

More from Tradingmarkets.com

]]> http://businessindavao.com/2010/02/16/microsoft-slash-prices-and-minda/feed/ 0 Bonds and Rice http://businessindavao.com/2010/02/15/bonds-and-rice/ http://businessindavao.com/2010/02/15/bonds-and-rice/#comments Mon, 15 Feb 2010 11:45:00 +0000 admin http://businessindavao.com/?p=168 Sufficiency in cereal stocks in the Davao Region dropped significantly across most of the rice- and corn-producing areas in a production picture that bared the refusal of many farmers to heed the directive of Malacañang against conversion of prime rice and corn farms to high-value crops. The National Economic and Development Authority (Neda) in the region . . . → Read More: Bonds and Rice]]> Sufficiency in cereal stocks in the Davao Region dropped significantly across most of the rice- and corn-producing areas in a production picture that bared the refusal of many farmers to heed the directive of Malacañang against conversion of prime rice and corn farms to high-value crops. The National Economic and Development Authority (Neda) in the region said that rice and corn sufficiency dropped by nine percentage points, from 72.7 percent in 2008, when rice prices hit public outrage despite assurances that there were sufficient stocks, to 63.7 percent last year

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The Philippines, one of Asia's largest sovereign debt issuers, will likely sell 10-year bonds and close the transaction in the first week of March, said a government source, who declined to be named because the official was not authorised to speak to the media.
The Philippines was open to raising the yen bond offer to a maximum $1 billion, nearly completing its planned foreign debt issues of about $2.5 billion this year, the source said.
"How much we will sell will be a function of how much we are willing to pay," the source said.

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The Department of Trade and Industry (DTI) reported that two of the major programs being implemented in the Davao Region have significantly contributed to its export performance of US$187 million last year, per record of the One-Stop Export Documentation Center (OSEDC).

In its preliminary annual accomplishment report, DTI said that commodities under the Davao Region’s priority industry clusters products promoted under the Export Pathways Program (EPP) generated almost 60 percent of the region’s aggregate export sales in 2009.

More from PIA

]]> http://businessindavao.com/2010/02/15/bonds-and-rice/feed/ 0 The President is coming http://businessindavao.com/2010/02/14/the-president-is-coming/ http://businessindavao.com/2010/02/14/the-president-is-coming/#comments Sun, 14 Feb 2010 09:30:16 +0000 admin http://businessindavao.com/?p=155 After her two-weeklong cyber-corridor and Urban Luzon Beltway tours, President Arroyo is set to visit Mindanao next week to promote it as an agri-business super region, Malacañang said Saturday.

Deputy Presidential Spokesman Ricardo Saludo bared Mrs. Arroyo’s visit to Mindanao, also known as “Agribusiness Mindanao” Super Region that covers Zamboanga Peninsula (Region 9), Northern Mindanao (Region 10), . . . → Read More: The President is coming]]> After her two-weeklong cyber-corridor and Urban Luzon Beltway tours, President Arroyo is set to visit Mindanao next week to promote it as an agri-business super region, Malacañang said Saturday.

Deputy Presidential Spokesman Ricardo Saludo bared Mrs. Arroyo’s visit to Mindanao, also known as “Agribusiness Mindanao” Super Region that covers Zamboanga Peninsula (Region 9), Northern Mindanao (Region 10), except Camiguin; Davao Region (Region 11), Region 12, Caraga (Region 13), except Island of Siargao; and the Autonomous Region in Muslim Mindanao (ARMM)

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]]> http://businessindavao.com/2010/02/14/the-president-is-coming/feed/ 0 Davao Business News http://businessindavao.com/2010/02/10/davao-business-news/ http://businessindavao.com/2010/02/10/davao-business-news/#comments Wed, 10 Feb 2010 10:07:58 +0000 admin http://businessindavao.com/?p=150 The business process outsourcing sector continued to lead the Philippine economy by earning $7.2 billion in 2009. The amount is a 19 percent hike from the $6.2 billion the sector earned in 2008.

Aside from bringing in $7.2 billion ($336 billion) to the national economy, the BPO sector generated additional 70,000 jobs in 2009, bringing to over . . . → Read More: Davao Business News]]> The business process outsourcing sector continued to lead the Philippine economy by earning $7.2 billion in 2009. The amount is a 19 percent hike from the $6.2 billion the sector earned in 2008.

Aside from bringing in $7.2 billion ($336 billion) to the national economy, the BPO sector generated additional 70,000 jobs in 2009, bringing to over 442,000 jobs it has created. Among the subsectors of the BPO industry, Voice BPO led by contributing $5 billion out of the $7.2 billion earned last years and provided employment to 280,000 people.

Read more: http://www.allheadlinenews.com/articles/7017765237?Philippine%20Business%20Process%20Outsourcing%20Earned%20$7.2%20Billion%20In%202009#ixzz0f7qshk2j

DAVAO CITY — Growth of the region’s business process outsourcing (BPO) sector could be capped by its limited pool of workers with the required skills.


Maria Lourdes D. Lim, regional director of the National Economic and Development Authority (NEDA), noted in a technical paper made available to media that this is an urgent issue for the region.

Read more at Business world

Philippine exports rose at the fastest pace in almost four years in December as the global economic recovery boosted demand for electronics goods.

Rising exports, which account for about a third of the Philippines’ $167 billion economy, are helping revive growth that slowed to an 11-year low of 0.9 percent in 2009. The central bank last month kept borrowing costs at a record-low 4 percent for a fifth straight meeting to support the recovery.

More from Bloomberg

]]> http://businessindavao.com/2010/02/10/davao-business-news/feed/ 0 News update http://businessindavao.com/2010/02/06/139/ http://businessindavao.com/2010/02/06/139/#comments Sat, 06 Feb 2010 08:29:44 +0000 admin http://businessindavao.com/?p=139

Fresh bananas remain the top export commodity of Southern Mindanao or Davao Region for the first three quarters of 2009 despite the challenges faced by the banana industry due to the unresolved issue on aerial spraying particularly in Davao City.

. . . → Read More: News update]]>

Fresh bananas remain the top export commodity of Southern Mindanao or Davao Region for the first three quarters of 2009 despite the challenges faced by the banana industry due to the unresolved issue on aerial spraying particularly in Davao City.

National Economic and Development Authority (NEDA) regional director Maria Lourdes D. Lim said Davao Region continues to enjoy favorable trade with its major global trading partners as it registered higher value of exports at $ 544 million.

More on Balita ph

Globe Telecom (PSE:GLO), the Philippines’ second-largest mobile phone operator, on Thursday said its net income rose fairly last year mostly because of non-recurring gains and lower taxes.

Full article  Trading Markets.com

Philippine stocks will rally after the presidential elections in May as the market enters a “feel good” phase of the new government, Macquarie Group Ltd. said.

Macquarie named Ayala Land Inc. as an example of stocks that “are just too good to pass up, and are worth owning even through the current volatility,” according to a research report released today. SM Prime Holdings Inc. will also benefit from election spending, according to the report.

Full article Business Week

Central banks in Indonesia and the Philippines intervened on Friday to support their sliding currencies as the US dollar rose on jitters about sovereign debt problems in Europe, traders said.

Full article ABS CBN

President Gloria Macapagal Arroyo Wednesday hailed the country?s cyber industry as a strategic success and said whoever will succeed her in June should build upon what her administration has achieved in the industry to bring the Philippines to the verge of the first world in 20 years.

Call center Concentrix Philippines, a unit of the US-based Synnex Corp., is expanding, citing the city’s pool of skilled manpower.

The company, which has 600 seats at the Damosa Information Technology Complex, is looking at increasing its work force to 1,400 this year, said Gerardo S. Dumael, site director, before the visit of President Arroyo Wednesday night as part of her “cyber corridor tour.”

News Bruni

Full article Business World

At least 10 new business ventures under Davao City government’s preferred investment areas is expected to generate 2,360 jobs. The new projects are in the fields of agro-processing, property development, tourism and transshipment facilities with investments worth at least P5 billion.
This was bared in the 2009 report of its annual accomplishment by the city planning and development office (CPDO).

Full article The Edge

The banana industry may be Davao City’s primary advantage when it comes to the international market, but the city is set to lose this competitiveness, no thanks to the continuous efforts to ban aerial spraying.

“The private sector has very little time to prepare since the time the ASEAN-China Free Trade Area has been publicized and given the attention it deserves but we have an advantage since we have very good export products like banana,” former Davao City Chamber of Commerce and Industry, Inc. president Simeon Marfori said.

Marfori said free trade will merely open up the market such that our products will be faced with a lot of competition in terms of quality and price. Davao City is no stranger to this, he said, since we already export our banana and other products to the world market and we are also faced with competition there.

Full article The Edge

THE Philippines can expect to feel birth pains from the full implementation of the Asean-China Free Trade Area, or ACFTA, which took effect  last January 1. But the business sector of Davao City is confident that it will benefit from the agreement in the long term.


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