CEBU CITY, Philippines — An industry leader here noted an over-supply in office spaces catering to the business process outsourcing (BPO) sector. However, this condition is seen to benefit more investors as rental rates are expected to decrease.

“This temporary glut in office space is good for Cebu. The inventory surplus brings down the rental rates and in effect, attract more BPO locators or other investors here,” said Joel Mari Yu, managing director of the Cebu Investments and Promotions Center, the marketing arm of the Cebu City Government. According to Yu, office rental rates in Cebu, which are ready-to-occupy facilities, are currently priced at between P450 to P550 per square meter. (Malou M. Mozo)

Coop gets P2.5-B credit line

CEBU CITY — The government-owned Land Bank of the Philippines (LBP) has granted a P2.5-billion credit line to a Cebu-based cooperative, further boosting the cooperative's ability to provide loan and other services to its members.

The Cebu CFI (Court of First Instance) Community Cooperative is now one of the largest cooperatives in the country that was granted by the LBP with a huge credit line which can be renewed annually and can be used to extend loans to members, said LBP President and Chief Executive Officer Gilda Pico. (Mars W. Mosqueda Jr.)

NFA Iloilo rice delivery finished

ILOILO CITY (PNA) — The National Food Authority (NFA) has already completed the delivery of rice for the supplementary feeding program that will kick off this month in Guimaras province. The NFA is now rushing its rice deliveries for the five other provinces in Western Visayas.

NFA Iloilo provincial assistant manager Miguel Aguirre said they have already completed the delivery of 432.12 bags of iron-fortified rice to the Day Care Centers in the five covered towns of Guimaras province. Aguirre said the Department of Social Welfare and Development (DSWD), which spearheads the feeding program, has ordered from the NFA a total of 20,000 bags to be distributed to the 5,448 Day Care Centers in Western Visayas.

Binay sees Cebu housing solution

CEBU CITY (PNA) — Vice President Jejomar Binay said he is optimistic a solution is within reach on the problem of two groups of Cebu City residents occupying Cebu provincial government-owned lots in the city. Binay on Wednesday met with the two groups of occupants of Capitol-owned lots in Cebu City.

Binay said as chairman of the Housing and Urban Development Coordinating Council, he wants to facilitate a solution and see how the national housing agencies can help. At the Ayala Terraces meeting were 93-1 settlers from 11 barangays.

Negros Oriental bucks tobacco farming

DUMAGUETE CITY (PNA) — The new chairman of the Committee on Agriculture of the Provincial Board, Arnulfo Teves Jr. has expressed his strong opposition to the reported entry of tobacco farming in Negros Oriental.

The proposed tobacco farming is being endorsed by huge tobacco companies which are trying to entice farmers in the province to plant tobacco.

Teves said tobacco farming will contradict an existing ordinance against smoking and the effort of the provincial government to declare the province as tobacco-free.