Economic News

KIDAPAWAN CITY --Two state-owned power plants stationed in a remote town in Lanao del Sur are still isolated from the Mindanao grid of the National Grid Corporation of the Philippines (NGCP), weeks after a transmission tower was toppled down in Marawi City, the NGCP communications office in South-West Mindanao said. Milfrance Capulong, communications officer of NGCP-Southwest Mindanao, said transmission lines connected to Agus-1 and Agus-2 hydro-electric power plants run by the National Power Corporation (Napocor) are not yet operational as of this writing.

COTABATO CITY -The Bureau of Customs and the Autonomous Region in Muslim Mindanao (ARMM) on Friday agreed to help each other push forward the fledgling Regional Economic Zone Authority (REZA) in support of the economic agenda of the southern peace process.The REZA was created in 2003 during the time of ARMM Gov. Parouk Hussin, but remained a paper tiger owing to lack of political determination to put its mechanisms at work.Customs Commissioner Alberto Lina and ARMM Gov.

KORONADAL CITY -- The Department of Trade and Industry (DTI) will embark on its 2ndRegion 12 trade fair from November 11 to 15 as part of the agency’s effort to drumbeat the investment potentials of Central Mindanao.In a statement Friday, the DTI Region 12 office here said the event, dubbed Treasures of Region 12,” shall be capped off with a diversified products show at the SM Mall of Gen.

COTABATO CITY -A total project investment value of about Php 600 million was recently approved by the Regional Board of Investments (RBOI) of the Autonomous Region in Muslim Mindanao (ARMM). These newly registered RBOI firms, the Maguindanao Energy Farms Incorporated (MEFI) based in Simuay, Sultan Kudarat, Maguindanao and Matling Industrial and Commercial Corporation (MICC) operating in Matling, Malabang, Lanao del Sur shall be eligible for fiscal and non-fiscal incentives being provided by the government. The Maguindanao Enegry Farms Inc.

KORONADAL CITY - High ranking officials from the World Bank have recently conducted a two-day visit in the different Kalahi-CIDSS projects implemented by the Department of Social Welfare and Development (DSWD) in towns of Kiamba and Maitum, Sarangani Province, an agency official said Friday.Gemma N.

COTABATO CITY -- Officials of the Maguindanao Electric Cooperative (Magelco) have sought the help of local government units in improving its collection efficiency as the cooperative's collectibles continue to rise.Magelco hosted Tuesday the Magelco Stakeholders' summit in Koronadal City where Cooperative General Manager Sultan Ashary Maongco presented the power firm's plans and programs for 2016.

COTABATO CITY -- Local traders supports House Bill 5989, which aims to amend the Amanah Bank Charter to institutionalize an expanded Islamic banking system in the country.The bill, now in the House Committee on Banks and Financial Intermediaries, was authored by Rep. Sitti Djalia Turabin-Hataman of the Anak Mindanao (AMIN) Partylist. We support all efforts meant to strengthen the Islamic banking system in the country.

COTABATO CITY --- One of the department store chain in Metro Manila is opening its branch here today with celebrity Martin del Rosario as special guest this afternoon.Lawyer Cynthia Guiani Sayadi, Cotabato City administrator, said the opening is highlighted by theribbon cutting at 10 a.m.She saidCentro is one of the biggest Department Store chains in Metro Manila and has 13 branches nationwide.

MANILA (PNA) -– Local oil firms will rollback gas prices by PhP0.35 centavos per liter and diesel prices by PhP0.50 centavos per liter on Tuesday, while one independent player already reduced prices on Monday evening.Shell and Petron will reduce their prices at 12:01 a.m., while Phoenix Petroleum will cut its prices at 6 a.m.Meanwhile, Eastern Petroleum has already cut its gasoline and diesel prices at 6 p.m.

COTABATO CITY -- The Metro Cotabato Water District (MCWD) has assured concessionaires of ample water supply even with the advent of malls in Cotabato City.Engr. Vevacio Villarma, MCWD engineering department manager, said the water firm has projected the water demand with the opening of big malls in the city.Villarma also revealed that a study by theUnited States Agency for International
Development (USAID) on the feasibility of making the Rio Grande de Mindanao as alternative source of water.