BusinessWorld (Philippines) articles from April 2000

BusinessWorld (Philippines) archives from April 2000

WEEKENDER: A brave new world of IT for women.
April 29, 2000... In less than 24 hours, a Canadian group called Groupe Maman set up an urgent fax campaign through its e-mail network, defeating a proposed amendment to a law regulating practice of midwives. In Croatia, the Women's Ad Hoc Coalition created a...

China Bank net profit rises 46%.
April 29, 2000... China Banking Corp. of mall tycoon Henry Sy, Sr. said its first-quarter net income grew 46% to P284 million from year-ago's P194 million. In a statement, the bank said its return on equity (ROE) of 12.04% placed it as "one of the few...

PNB prequalification bidding starts today; 80% stake to be sold.
April 29, 2000... The Department of Finance (DoF) will accept bids for 80% of Philippine National Bank (PNB) starting today, Friday. Finance Secretary Jose T. Pardo yesterday said the PNB Retirement Fund, Inc.'s 3.5% stake in the bank will be offered along...

RP expects $100-M WB loan this semester.
April 29, 2000... The government expects to receive from the World Bank a $100-million loan for the banking sector by the end of the semester when the Philippine National Bank (PNB) is finally transferred to private hands. But it will wait until June 2001...

Philippine Stock Exchange as of April 27, 2000.
April 28, 2000... Stocks Volume High Low Close BANKS & FINANCIAL SERVICES Banks Asiatrust Dev. Bank 20,000 11 10 10 Bank of P.I. 554,500 94 93 93.5 China Banking 70 700 700 700 Equitable PCI Bank Inc. 288,700 56 55 55 Metropolitan...

WEEKENDER: Postcards from paradise.
April 28, 2000... CINEMA The Beach Danny Boyle The Beach is directed by Danny Boyle and adapted by John Hodge from the novel by Alex Garland, but the rest of the world doesn't give a damn-for them, it's the latest vehicle of Titanic star Leonardo...

WEEKENDER: THE TRAVELLER: Cerqueda, Cuisia form hotel management firm.
April 28, 2000... In recent years, property developers have ventured into the hospitality industry, identifying untapped market niches as channels for increased tourism and business traveller traffic. The birth of boutique hotels, serviced apartments and...

WEEKENDER: Cordillera tourists unhappy with new ordinances.
April 28, 2000... Local and foreign tourists intending to revisit the ecotourism wonders of the remote and impoverished region of the Cordilleras this summer may find new tourism ordinances too unattractive for a visit. Cordillera Department of Tourism...

WEEKENDER: Unique Easter parade.
April 28, 2000... Residents of San Pedro, Laguna, experienced a distinct kind of Easter Sunday with the creation of the Manok ni San Pedro festival. This annual affair is already listed with the Department of Tourism's Book of Festivals. Mayor Felicisimo...

WEEKENDER: Travel Trade East: Tourism receipts hit the P10-billion mark.
April 28, 2000... January 2000 arrivals according to the Department of Tourism (DoT) posted a 20.07% increase in the country's tourism receipts which accounted for $254.7 million (about P10.34 billion) infusion into the national coffers for the month alone....

WEEKENDER: Health Economics: On screening HMO patients.
April 28, 2000... "Dear Dr. Clemente, As a regular reader I always find myself learning something new and useful in your columns. Your stories on the problems that people have with their HMOs have made me especially alert on my current application with...

WEEKENDER: Team loyalty.
April 28, 2000... Very few other institutions inspire as much loyalty as the Philippine Basketball Association (PBA). Thus, PBA marketers got together with laser card company Parvenu International to come up with the world's first loyalty program for a sports...

WEEKENDER: Viva Videocity keeps the franchising process simple.
April 28, 2000... FRANCHISING No one was surprised 14 years ago, when entertainment executive Vic del Rosario and his son, Vincent, conceptualized Viva Videocity, a video rental store under Viva Entertainment Company. This was because the business of...

WEEKENDER: The Medium & the Message: Publicis sings ballad to convey DBP legacy.
April 28, 2000... There is nothing like a well-loved ballad and its refrain to catch your attention. You continue to sit and watch, enthralled by the haunting strains of "Ngayon at Kailanman," perhaps not even entirely aware that you had watched and thoroughly...

WEEKENDER: READY FOR E-COMMERCE.
April 28, 2000... There is a strong positive relationship between information technology investments and growth in developed countries, and the Philippines would have to play catch-up in terms of infusing resources into the so-called New Economy if it were to...

WEEKENDER: Enchanting five years.
April 28, 2000... OUTING Enchanted Kingdom 5th Anniversary Celebration Sta. Rosa, Laguna Until June 12 To borrow a line from a jewelry commercial, it does not seem like five years. And this statement cuts both ways. Many of those...

Napocor loan transfer to gov't said to cut power rates.
April 28, 2000... Socioeconomic Planning Secretary Felipe M. Medalla yesterday said the government's absorption of around P250-billion liabilities of the National Power Corp. (Napocor) is necessary "so all will enjoy lower power rates." Commenting...

Farmers group to urge Congress to declare coco levy a public fund.
April 28, 2000... A group of farmers and nongovernmental organizations (NGOs) will bring their battle for the recovery of the coconut levy fund to Congress should current talks on the creation of a trust fund for the industry fail. The Multi-Sectoral Task...

Top slot at BoI goes to former San Mig official.
April 28, 2000... A former executive of food and beverage giant San Miguel Corp. (SMC) is joining the Department of Trade and Industry as undersecretary for industry and investments and as the concurrent managing head of the Board of Investments (BoI). ...

Conservative Ayala bares thrust into 'new economy'.
April 28, 2000... It's one of those very rare occasions where you see Jaime Augusto Zobel de Ayala II, president of Ayala Corp., dress down while he addresses a huge crowd of investors, business partners, investment analysts and media people. Mr. Zobel de...

Urban Bank reopening targeted in one month.
April 28, 2000... The Bangko Sentral and the Philippine Deposit Insurance Corp. (PDIC) plan to have Urban Bank serve the withdrawals of its depositors in a "record time" of one month. "We hope to open Urban Bank, or the new institution, in 30 days,"...

BSP surprises markets with a rates hike (Ahead of US Fed increase).
April 28, 2000... Hoping to head off the possible effects of a US rate hike, the Bangko Sentral yesterday decided to raise its overnight rates, catching the financial market by surprise. Effective May 2, "the Monetary Board decided to increase overnight...

Silent Protest schedules new noise barrage today.
April 28, 2000... A movement against corruption and cronyism in government stages another noise barrage late this afternoon, with leaders hoping the event does not turn into another flop. Today's one-hour noise protest dubbed "Enap op Erap" starts at 6...

Two soldiers die, 11 others wounded on Basilan isle.
April 28, 2000... Two soldiers were killed while eleven others were wounded after two days of heavy fighting between government troops and Abu Sayyaf rebels near a camp in Basilan where the rebels are holding 27 hostages. This was learned yesterday from...

Congress 'payola' probe.
April 28, 2000... Bohol Rep. Ernesto F. Herrera and Isabela Rep. Heherson T. Alvarez yesterday filed House Resolution No. 1537 urging Speaker Manuel B. Villar, Jr. to formally request a team headed by lawyer Rene Saguisag to investigate reports that...

EIIB abolition questions.
April 28, 2000... Terminated employees of the Economic Intelligence and Investigation Bureau (EIIB) questioned yesterday at the Supreme Court the constitutionality of two Malacanang directives on abolishing the bureau. In a petition, the 1,000-strong Buklod ng...

Lopez falsification raps.
April 28, 2000... Former Iloilo Rep. Alberto Lopez asked yesterday the Sandiganbayan to order the reinvestigation of the falsification charges against him. In a three-page motion, Mr. Lopez said he wants the review of the charges because he feels that the...

Kokoy bail after 9 years.
April 28, 2000... Benjamin "Kokoy" Romualdez, brother of former first lady Imelda R. Marcos, posted bail yesterday - nine years after the anti-graft court first ordered his arrest, Mr. Romualdez paid P405,000 for his temporary liberty pending his trial for 27...

New project monitoring.
April 28, 2000... Malacanang is now using a new monitoring mechanism to ensure the implementation of all government projects particularly those worth P50 million and above. Executive Secretary Ronaldo B. Zamora said the new monitoring system will keep the...

BSP Reference Rates as of April 27, 2000.
April 28, 2000... Equivalent Equivalent Equivalent of foreign of US$1 of foreign currency in in foreign currency in Currency US Dollar currency RP peso Convertible currencies with BSP US dollar 1.000000 1.000000 41.378000 Japanese yen 0.009414...

BankAccounts: Why Henry Sy wants a piece of the Urban Bank action.
April 28, 2000... ABS-CBN 'exclusive' During last-minute efforts to save Urban Bank Tuesday night, Bangko Sentral Gov. Paeng Buenaventura met with Banco de Oro bosses Tessie Sy-Coson and Nestor Tan. Unknown to the Gov, his cellphone was inadvertently...

MBf to sell card, thrift units.
April 28, 2000... Publicly listed finance firm MBf, Inc. said it will sell its shares in MBf Card, Inc. and Unitrust Development Bank in an effort to concentrate on its core business. In a recent disclosure to the Philippine Stock Exchange, MBf said the...

Senate bill seeks increase in state deposit insurance.
April 28, 2000... A bill seeking to increase the ceiling on state-insured deposits has been introduced at the Senate in light of the temporary suspension of operations of publicly listed Urban Bank. Senator Renato L. Cayetano, author of Senate Bill (SB)...

Finance chief wants GFIs out of banking (Urban Bank aftermath).
April 28, 2000... The Department of Finance (DoF) wants government financial institutions (GFIs) to limit their investments in the banking sector in the aftermath of the liquidity crisis in Urban Bank. Finance Secretary Jose T. Pardo yesterday said his...

Demand Rates as of April 26, 2000.
April 28, 2000... The interbank demand rate weighted average was 8-7/8%, according to the Bangko Sentral treasury department. Rates quoted by 31 participating institutions ranged from 8-13/16% to 9-3/8%, with lenders outnumbering borrowers at 15 to 16. Total...

SPECIAL FEATURE: Holiday Pleasures: Enjoy a safe, hassle-free vacation by planning ahead.
April 28, 2000... Going away on an extended holiday? Remember that while you have chosen to tune out and enjoy your time off from work, this does not mean that you have to let your guard down. A well-planned holiday can easily be ruined by theft or simply by...

SPECIAL FEATURE: Holiday Pleasures: Holiday vacation packages at Subic.
April 28, 2000... Summer is the time with family and friends, and it is best to spend it by cooling off and having fun. Legenda Hotel, Grand Seasons Hotel and Legenda Suites in Subic have the perfect holiday package that practically incorporates all the perks...

SPECIAL FEATURE: Holiday Pleasures: One hot summer in fashion at SM.
April 28, 2000... This summer, Surfwear is making waves at SM. Summer fashion comes with the breeziest of scenic island prints and exotic petal picks that are hibiscus prints in tropical colors. Ladies can project the hottest look in town with sultry...

SPECIAL FEATURE: Holiday Pleasures: RP destinations all set for summer.
April 28, 2000... Thoughts of summer usually come in swatches of vibrant colors, stunning beaches, scorching weather and to some, skimpy clothing. Despite the occasional weather disturbances, summer remains the season to frequent various destinations and spend...

American Express reaffirms support for Philippine Eagle.
April 28, 2000... American Express reaffirmed its long-term commitment to support the efforts to save the Philippine Eagle by donating P100,000 for the year 2000 to the Philippine Eagle Foundation last March 2 in Davao City. Ian Fish, country manager...

Chess Piece: Nothing wrong with losing.
April 28, 2000... Many years ago, when this author was making his transition from ugly skinny brat to ugly fat slob, he found himself in high school undergoing Citizen's Army Training (CAT). There was one particularly ferocious officer who took himself very...

Alaska, Pop Cola end win streaks as AFC race heats up.
April 28, 2000... It was supposed to be a game that the Pop Cola 800s was predicted to handily win and, by so doing, use as stepping stone for a possible Top Four spot in the ongoing Alaxan All-Filipino Cup. However, its opponent Batang Red Bull, which for...

Courtside: NBA play-off TV coverage.
April 28, 2000... National Basketball Association commissioner David Stern is, among other things, an astute businessman, so his decision to accede to the wishes of broadcasting giants NBC and TNT to nationally televise all games in the first round of the...

Shell Helix slalom series off to Subic.
April 28, 2000... Dr. Peewee Mendiola and Danny Santiago renew their rivalry as the fourth leg of the RACE Motorsports Club (RMSC)-organized Shell Helix Slalom Series rolls off Sunday at the Subic Airport, Olongapo in conjunction with the Asian Festival of...

Miss Saigon will be affordable.
April 28, 2000... "Am I doing Miss Saigon? Am I playing Kim? What is the answer to this $64,000 question? Yes, I am playing Kim!" was Lea Salonga's announcement through a live phone patch from New York during the press conference of the much-awaited Philippine...

Editorial: Take Ten: Judy.
April 28, 2000... Hollywood is one big heartless place. Despite its well-publicized glamor and high life, when the chips are down in Tinseltown, there are no friends to be found. Everyone there is out taking care of himself. They've got to fend for themselves....

Ferrocement tanks allow saving rainwater.
April 28, 2000... (Second of two parts) DO-IT-YOURSELF Making ferrocement tanks require only basic hand-tools, the kind one usually finds in the household tool kit, thus making it easier for nonprofessionals to fashion tanks with little if any expert...

New system extends lighting fixtures' shelf life sevenfold (Local invention).
April 28, 2000... A local company has come up with a new lighting system that promises increased savings in terms not only of power consumption, but also of setup and maintenance costs. Called the Nutec Lighting System Fixture, the innovation also...

Asia Miles allows cash purchases.
April 28, 2000... Asia Miles has launched a new "Asia Miles Top Up" miles plus cash plan allowing members to top up their account by purchasing extra Asia Miles with cash. This new benefit allows members who are close to redeeming a free flight, upgrade, or...

Ericsson makes first AceS call.
April 28, 2000... Satellite telephony in the Philippines has moved one step closer to reality following the successful test of the Ericsson R190 dual mode phone on the Asia Cellular System (AceS) international network recently. Calls have been successfully...

Franchisees, franchisors grow together.
April 28, 2000... Whoever said that franchisees and franchisors are distinct and separate from each other is in for a surprise. "Franchisees and franchisors are joined at the hip. The more we can do things together and the better we communicate, the...

Yehey! signs agreement with Agence France Presse.
April 28, 2000... News and information on or about the Philippines can now be accessed in real-time and round the clock at search engine Yehey! This was after Yehey! and the Agence France Presse (AFP) signed an agreement that would allow Internet users...

Spain assists SME group.
April 28, 2000... The Government of the Kingdom of Spain and the Philippine Small and Medium Business Development Foundation, Inc. (PHILSMED) signed on April 17 the memorandum of agreement (MoA) for the implementation of the Project "Philippine Industry...

Subic zone to have own power supply.
April 28, 2000... Subic Bay Freeport Zone will soon have its own power supply that will meet the increasing energy requirements of its present and potential locators. The Subic Bay Metropolitan Authority and Danish company Bay Power, Inc. (BPI) recently...

DoTC to impose stricter rules on passenger loading.
April 28, 2000... The Department of Transportation and Communications (DoTC) will be issuing a department order imposing stricter guidelines on the loading of passengers on domestic vessels. The move is in the effort to prevent overloading of passenger...

DHL sets up tracking service through cellphone.
April 28, 2000... Customers of DHL Philippines Corp. can now track a shipment or locate a DHL office through their Smart GSM cellphones. Using any Smart GSM cellular phone, customers will know within a few seconds the actual status of their parcels or...

Eastern Telecoms puts up gigabit area network.
April 28, 2000... Eastern Telecommunications Philippines, Inc. (ETPI) is establishing a Metropolitan Area Network (MAN) in support of the Internet and data requirements of its corporate customers. Through MAN, ETPI will offer integrated services, providing...

Mactan ecozone locators' water problem addressed.
April 28, 2000... CEBU CITY - Over 100 companies operating at the Mactan Export Processing Zone (MEPZ) I and II will now enjoy uninterrupted water supply from the Metropolitan Cebu Water District (MCWD) with the completion of a storage tank that can store up...

Radio firm airs concern over illegal operators.
April 28, 2000... While digital wireless technologies are seen to provide tougher competition to analog counterparts, illegal radio operators are perceived to leave a bigger threat than the new technologies. Trunked radio operator Worldwide Communications,...

Business Case Law: Contract of adhesion.
April 28, 2000... The terms of a contract of adhesion are prepared by only one party while the other party merely affixes his signature signifying his adhesion thereto. Such contracts are not void in themselves. They are as binding as ordinary contracts....

SEC to create corporate bar group.
April 28, 2000... In line with efforts to improve the integrity, credibility and efficiency of the Securities and Exchange Commission (SEC), chief Lilia R. Bautista is eyeing the creation of a Corporate Bar Association (CBA) as an institutional link to the...

SM also open to talks with foreigners.
April 28, 2000... Mall giant SM Prime Holdings, Inc. (SMPH) of tycoon Henry Sy is likewise opening its doors to foreign retail companies interested to do business in the country, now that the local retail sector has been liberalized. In an interview...

Air Philippines to buy 3 planes.
April 28, 2000... Despite the fatal air tragedy last week, Air Philippines will pursue plans of acquiring three aircraft units before yearend or early next year as part of expansion strategy. Air Philippines spokesperson and customer service manager Leah...

Postal firm up for sale in Sept.
April 28, 2000... President Estrada has given the go signal to the Committee on Privatization (CoP) to set the stage for the sale of Philippine Postal Corp. (PhilPost), Socioeconomic Planning Secretary Felipe M. Medalla said yesterday. The PhilPost...

Mix-up in records may cause delay in filing BW report.
April 28, 2000... A mix-up on the part of one of the brokerage firms implicated in the BW Resources Corp. stock price manipulation scandal may result in more delays in the completion of the corporate watchdog's investigation on the same. A source at the...

Pantranco workers ask for trust fund audit.
April 28, 2000... Employees of the now-defunct Pantranco North Express, Inc. yesterday asked the Sandiganbayan to order an accounting of Pantranco funds being kept in trust at the Philippine National Bank (PNB). In a three-page motion filed yesterday, the...

Fund to assist banks hit by 'runs' readied.
April 28, 2000... The Bangko Sentral yesterday announced it will open a special funding facility to help banks meet any liquidity requirements brought about by unusually high withdrawals. "One facility available to banks is the repurchase window where the...

Economic Indicators: Raw sugar output up in Sept.-Feb. period.
April 28, 2000... Raw sugar output went up 33.7% in the first six months of the 1999-2000 crop year, a complete reversal from the 38.3% reduction last year, data from the Sugar Regulatory Administration (SRA) show. The 33.7% increase means 1.069 million...

Interagency body approves five projects for Obuchi Fund.
April 28, 2000... The Investment Coordination Council (ICC) has approved P91.368 billion worth of new projects for inclusion under the third batch of the Japanese Special Yen Loan Package, otherwise known as the Obuchi Fund. The five projects approved...

FMD outbreak prompts ban on imports from Korea, Japan.
April 28, 2000... The Department of Agriculture (DA) has imposed a temporary ban on meat products as well as animals from Japan and South Korea which are susceptible to foot-and-mouth disease (FMD). Agriculture Secretary Edgardo J. Angara signed last April...

Newspoint: Good Friday stories.
April 28, 2000... There were no papers on Good Friday, but the mountains of Tagaytay were alive with stories that would have made enough good reading for the day. The road to the Highlands was slowed by traffic, the better for tourists like us to regard...

Taxwise or Otherwise: VAT zero rating.
April 28, 2000... The Bureau of Internal Revenue (BIR) recently issued Revenue Memorandum Order (RMO) No. 9-2000 to harmonize the application of the privilege of zero rating with respect to sales of goods, property and services by VAT-registered suppliers to...

Estrada reiterates promises to change.
April 28, 2000... President Estrada yesterday reiterated promises to change, telling the 21st National Conference of Employers that the government would act swiftly and "decisively" on its recommendations. In his speech during the conference, organized by...

Tripartite accord to boost country's competitiveness.
April 28, 2000... Employers, labor groups and concerned government agencies have signed an accord aimed at promoting industrial and community peace to allow the country to meet the challenges of globalization. The accord was signed last Wed-nesday by the...

President meets with oil company execs.
April 28, 2000... President Estrada will meet this morning with officials of oil companies in the country, boosting the possibility of a price rollback announcement within the week. Press Secretary Ricardo V. Puno, Jr. announced the meeting several hours...

DTI says cement imports best left to private sector.
April 28, 2000... Trade and Industry Secretary Manuel A. Roxas II is not willing to commit the resources of the Philippine International Trading Corp. (PITC) to the importation of cement in behalf of the Philippine Constructors Association (PCA), saying this...

Dear Editor: No foresight.
April 28, 2000... Newsweek magazine, April 10th, cobbled together about April Fool's Day a two-page article on Internet headed, "It's all about acceleration." It could have added 'stupid' or "read the lips." It had an April 24 cover, "Is the bull market...

Fast Forward: Labor of love.
April 28, 2000... On Sunday, April 30, my dad celebrates his 67th birthday. The next day, May 1, workers around the world will commemorate International Labor Day. There must be a connection here somewhere. To find out, we go back a few weeks ago to that...

Editorial: Fence Sitter: Credit allocation.
April 28, 2000... Many a corporate battle is fought over who gets credit for a company's successes. While grabbing credit is next only in importance to empire building in terms of corporate hazards, the two are close cousins. It is after all claims of success...

Rule of Law: Saving lives and memories.
April 28, 2000... We cannot but grieve as a nation every time tragedy strikes and many lives are shattered if not lost as a consequence. We point accusing fingers at each other, blame everything and everyone, including ourselves, for failing or neglecting to...

ABS-CBN plans studio complex on Ortigas lot (All-in-one commercial, broadcast, theme park dev't).
April 28, 2000... ABS-CBN Broadcasting Corp. is considering its property in Ortigas for the establishment of an integrated studio complex similar to the Universal Studios in the US. In an interview following the company's stockholders meeting yesterday,...

Philippine Stock Exchange as of April 26, 2000.
April 27, 2000... Stocks Volume High Low Close BANKS & FINANCIAL SERVICES Banks Bank of P.I. 506,600 94 92.5 93.5 China Banking 1,220 700 700 700 Chinatrust Comm. Bank 4,000 8.1 8.1 8.1 Equitable PCI Bank Inc. 193,500 58 55.5 55.5 ...

ADB sees slow growth for RP.
April 27, 2000... Though the economy will grow this year, it will be at a sluggish pace, the Asian Development Outlook (ADO) 2000 report of the Asian Development Bank (ADB) said. The report, released yesterday, said the country's overall macroeconomic...

Malacanang expanding membership in economic superbody.
April 27, 2000... Malacanang will expand the membership of the top-level Economic Coordinating Council (ECC) to include representatives of the private sector in addition to the five-member council of senior economic advisers. ECC secretary general...