BusinessWorld (Philippines) articles from August 2001

BusinessWorld (Philippines) archives from August 2001

Newspoint.
August 31, 2001... It has been hot for days, and Washington, D.C. is grateful for the rain. I took off in the rain myself, had been, in fact, at its mercy for much of the past week and, therefore, can't quite bring myself to appreciate traveling thousands...

Rule of Law.
August 31, 2001... I saw it months back on my return flight to the country coming from Los Angeles. It was one of three in-flight movies shown that time which I heartily devoured, not having seen any worthwhile film for quite a while. Staying in the economy...

Fence Sitter.
August 31, 2001... A new television program, "Birthday" has been launched, featuring celebrities commemorating their birthdays in the week. Intimates tell moving stories about how they have been helped by the warm person in the spotlight. Video greetings and...

Fast Forward.
August 31, 2001... Talk about creating a monster. After developing the country into the "text messaging capital of the world," cellular phone operators Globe Telecoms and Smart Communications are about to get it from their own target market: the young and...

Vector.
August 31, 2001... Rosebud, the monicker given to Ms. Mary Rose Ong, one of the witnesses presented by Col. Victor Corpus to buttress his claim on the dangers posed by narco-politics, was also the last word uttered by a dying man in a classic film. The man was...

Perfection of love (Homily).
August 31, 2001... If you wonder what is love's perfection, the Holy Father, echoing the Church's teaching and tradition, has the answer. It is mercy. Recall the parallelism in these two Gospel passages: "Be merciful even as your Father is merciful" (Lk...

Source and unifier of all values.
August 31, 2001... We have just made a beautiful and most relevant prayer at Mass last Sunday. "Father," we said, "help us to seek the values that will bring us lasting joy in this changing world." Already, many interesting thoughts came to mind when...

Selling on blue chips drags down.
August 31, 2001... Stocks stumbled to their new 10- month lows, dragged by another round of selling in major blue chips yesterday. Analysts said a number of index heavyweights such as phone giant Philippine Long Distance Telephone Co. (PLDT) and power firm...

Demand Rates as of August 29, 2001.
August 31, 2001... The interbank demand rate weighted average was 9-1/8%, according to the Bangko Sentral treasury department. Rates quoted by 22 participating institutions ranged from 9-1/16% to 9- 1/4%,with lenders outnumbering borrowers at 17 to 5. Total...

Traders ignore economic figures;.
August 31, 2001... The better-than-expected gross domestic product (GDP) growth in the first half failed to lift negative sentiments at the local currency market yesterday causing the peso to stay wedged in the same level since the start of the week. At...

BSP keeps key rates; banks'.
August 31, 2001... The Bangko Sentral ng Pilipinas (BSP) kept both overnight rates and banks' reserve requirements unchanged yesterday after the country posted a higher-than-expected economic growth for the second quarter. BSP Gov. Rafael Buenaventura,...

SSS camps trade accusations on.
August 31, 2001... Officers and employees of the Social Security System (SSS) traded barbs yesterday with each group accusing the other of being remiss in their duties to safeguard the pension fund's financial integrity. One faction loyal to former SSS...

Philam product gives insured access.
August 31, 2001... Philamcare Health Systems, Inc., a subsidiary of Philippine American Life and General Insurance Co. (Philam), introduced last week a health plan that will allow its holder to avail of health services abroad. Considered the first of its...

Internet banking a 'necessary evil'.
August 31, 2001... Internet banking is a "necessary evil" for banks but this will not stop them from offering the service, an officer at a thrift bank with mobile commerce services said. Primo B. Aguas, chief information officer of First E-Bank, said in a...

NY Life eyes local pre-need.
August 31, 2001... After penetrating the local life insurance industry, new player New York Life Insurance (Philippines), Inc. is setting its sights on gaining a niche in the pre-need market. BusinessWorld learned that New York Life Philippines will start...

BankAccounts.
August 31, 2001... Despite all the bad news about declining tourism in the country, many foreign - and influential - guests continue to visit the Philippines to enjoy its resorts and recreational facilities. One recent guest was IMF Asia-Pacific director Kunio...

SPECIAL FEATURE.
August 31, 2001... Meaningful protection. This is what the Social Security System (SSS) has striven to provide to private sector workers for the last 44 years. There have been many milestones and crucial events that have defined the identity and character...

SPECIAL FEATURE.
August 31, 2001... I would like to convey my sincerest felicitations to the Social Security System (SSS) on its 44th Anniversary. My esteemed greetings go to all the men and women in the service on this auspicious occasion. May you find inspiration in this...

SPECIAL FEATURE.
August 31, 2001... A good number of industries and institutions continued to avail of the business and social development loan programs of the SSS despite the bleak economic and political situation. The System continually supported the government in its effort...

SPECIAL FEATURE.
August 31, 2001... Four thousand to one. This is the ratio of SSS members to SSS employees. The SSS today has 5,000 dedicated employees serving the needs of 23 million members throughout the Philippines and other countries. Faced with a large number of...

Construction sector B2B exchange up.
August 31, 2001... IcFox Philippines, Inc., the Philippine licensee of Hong Kong-based IcFox International Ltd., is set to launch on Sept. 18 its business-to- business (B2B) exchange for the construction industry in the Philippines. Company officials said...

PLDT and Ateneo to build convergent.
August 31, 2001... The Ateneo de Manila University, together with the Philippine Long Distance Telephone Co. (PLDT) and the PLDT Foundation, will be building an education center that will help equip the school's college students for the challenges of the global...

Building blocks.
August 31, 2001... Georgetown Lakeview First Georgetown Ventures, Inc. is offering buyers in their Georgetown Lakeview Vacation Estate in Metro Tagaytay flexible financing terms and special loan packages through Philippine Savings Bank (PSBank). A new...

Fil-Am nurtures US infotech company.
August 31, 2001... WASHINGTON - In April 1999, Edwin Abeya and his partner Ed Caburian incorporated their business, Jacer, a professional service company, "to provide quality and focused support to government and industry using information technology." ...

Davao Internet service firm scouts.
August 31, 2001... DAVAO CITY - InterAsia Systems Technology Resources, Inc., an Internet service pioneer in this city has laid out an expansion plan, initially estimated at roughly P10.2 million. Based on a proposal submitted to the regional office of the...

Storage provider eyes RP market.
August 31, 2001... Yet another storage solutions provider is setting its sights on the local market for storage area networking (SAN), an architecture for putting together storage solutions in a network. Tape drive technology provider Tandberg Data...

UCPB taps Asia Online for e-banking.
August 31, 2001... UCPB, a leading provider of financial products and services in the Philippines, recently launched its retail Internet banking product, UCPB Connect, which can be accessed via wired or wireless channels. The wireless service, developed by Asia...

Cebu seen to rise as ICT hub via.
August 31, 2001... CEBU CITY - Cebu already has the necessary information and communication technology (ICT) capability to become another Bangalore, but this capability is "not in all the right places." Frederick B. Kintanar, assistant senior manager of the...

New law protects layout designs of.
August 31, 2001... The Philippine government has added one more support timber to the country's fast-growing electronics sector by providing strong protection to the layout designs of integrated circuits or chips. President Gloria Macapagal-Arroyo signed...

IT, telecommunications markets.
August 31, 2001... While the rest of the information technology (IT) and telecommunications industries suffer from the slowdown in economic giants the United States and Japan, separate studies released by two independent research firms indicate that there just...

Supreme Court, gov't agencies.
August 31, 2001... Like the growing industry it seeks to encourage and regulate, the E- Commerce Law (Republic Act 8792) is assuming a life of its own with the hammering out of new rules that make it easier for government offices and businesses to do business....

Prestige Cars, Inc. helping make.
August 31, 2001... BMW is known the world over for its distinctive design, excellent engineering and thoughtful customer service. It is a premium brand that requires local partners that will protect BMW's global image as the Ultimate Driving Machine. ...

HP Jornada 548 PC - office in your.
August 31, 2001... The availability of HP Jornada 548 Pocket PCs heralds a new and better way of mobile computing as it delivers productivity and fun to any on-the-go lifestyle. In a sleek design and functionality, the HP Jornada 548 gives users what they're...

Brittany unveils first-of-its-kind.
August 31, 2001... Brittany Corp. through its new division recently launched its maiden trail-blazing residential development - Augustine Grove. Augustine Grove is a 20-hectare breakthrough project right at the heart of Dasmarinas, Cavite. The houses that...

Status of Power Homes firm as real.
August 31, 2001... Power Homes Unlimited Corp., in an effort to assuage the doubts and apprehensions among its potential clients and consistent detractors, recently announced that it has again secured the accreditation as real estate broker of leading...

Briefs.
August 31, 2001... Franchising seminars The Association of Filipino Franchisers Inc. (AFFI), the only franchise group solely run by Filipinos and dedicated to the development of the Filipino entrepreneur, will conduct a series of seminars starting Sept....

SEA Games basketball gold a cinch.
August 31, 2001... The basketball rival groups of Quinteliano "Tiny" Literal and Gonzalo "Lito" Puyat Jr. - who have both claimed leadership of the Basketball Association of the Philippines (BAP) helm - are headed for an election showdown on Sunday, Sept. 2....

Greg Norman Golf Course at Eagle.
August 31, 2001... Sta. Lucia Realty & Development, Inc. is working on the final landscaping of its fourth and final 18-hole golf course at Eagle Ridge & Country Club, scheduling its completion by year-end. The course which covers 75 hectares of rolling greens,...

Courtside.
August 31, 2001... Last Monday, I noted that the integrity of the selection process for members of the United States team to the Ryder Cup may have been unwittingly compromised by 2001 captain Curtis Strange. The crux of my argument lay in how he went about...

Chess Piece.
August 31, 2001... FINAL STANDINGS (11 rounds): (In tie break order) 1. GM Xu Jun (China), 8.5/11 2. GM Saidali Iuldachev (Uzbekistan), 8.0/11 3-6. IM Surya Sekhar Ganguly (India), IM Zhang Pengxiang (China), GM Alexei Barsov (Uzbekistan), IM...

Take Ten.
August 31, 2001... I was glad that the NDF Negotiating Panel was getting public exposure. That way, the public could study the human beings behind the negative images created by government press releases. They were interviewed constantly on television and...

WEEKENDER.
August 31, 2001... When a special task force created by former president Joseph E. Estrada expires in October this year, it will present a dismal report card on how it was able to prosecute irregularities committed at the Department of Finance (DoF). ...

WEEKENDER.
August 31, 2001... Clients once likened it to a public market, where they negotiated with bureaucrats for the price of delivering what should have been public service. Up until a few months ago, the Department of Finance's One-Stop Shop Inter-Agency Tax Credit...

WEEKENDER.
August 31, 2001... At five this afternoon, seven Asians will be conferred the prestigious Ramon Magsaysay Awards, named after the late president Ramon Magsaysay, for involvement in various sectors. President Gloria Macapagal-Arroyo will grace the...

WEEKENDER.
August 31, 2001... Dengue fever is again on the increase across the Asia-Pacific region, the World Health Organization (WHO) said in a statement. After the dengue pandemic that swept through Western Pacific and other parts of the world in 1998, an overall...

WEEKENDER.
August 31, 2001... We are writing in relation to the PCIJ (Philippine Center for Investigative Journalism) article by Ms. Vinia Datinguinoo ("Rockwell's Dirty Secret," BusinessWorld, Aug. 27). We appreciate and share the environmental concern of the article,...

[0] WEEKENDER.
August 31, 2001... A parade is a natural part of fun, festivals and fiestas, whether this be an Easter parade in the heart of New York City or a Pahiyas fiesta in Lukban, Quezon. In the United States, community celebrations are often the target of McDonald's...

WEEKENDER.
August 31, 2001... "Somehow," says the man to his companion, a woman standing between us in the queue to the world-famous Acme Oyster House, "the food tastes better here." I think I know what he means. It is my own second straight dinner at Acme. The night...

[0] WEEKENDER.
August 31, 2001... IBM Philippines opened this week a national training program for the visually impaired to help them improve on computer skills. The two-week computer camp is a partnership between IBM and other groups led by Resources for the Blind, Inc....

[0] WEEKENDER.
August 31, 2001... Open skies agreements set liberal ground rules for international aviation markets, and minimize government intervention. Provisions apply to passenger, all cargo and combination of air transportation, and encompass both scheduled and...

WEEKENDER.
August 31, 2001... Travelers to the Association of Southeast Asian Nations (ASEAN) can now easily visit more than one destination through the air and hotel pass. The ASEAN Air Pass was first introduced on Dec. 1, 1998 to promote ASEAN as a single...

WEEKENDER.
August 31, 2001... Reasonable prices The Palm Plaza Hotel at the corner of Pedro Gil and M. Adriatico streets in Malate, Manila, provides the traveler reasonable prices. Its high-technology features are run by the Micros-Fidelio system that helps the hotel...

[0] WEEKENDER.
August 31, 2001... Last week's article must have struck a number of raw nerves among the health maintenance organizations (HMOs). Let us take for example I-Care. It seemed last Thursday, the I- Care board had a regular meeting and Dr. Art Libao, the...

WEEKENDER.
August 31, 2001... While more than nine out of 10 stroke victims survive an attack, the bad news is more than half of the survivors could no longer lead normal lives. Thus, surviving a stroke is only half the battle of getting back on the road to a healthy...

WEEKENDER.
August 31, 2001... Half a million Filipinos suffer from corneal blindness, and chances are they hardly know what caused the loss of their eyesight. And this is because only one out of 100 suffering from this type of blindness is getting proper medical...

[0] WEEKENDER.
August 31, 2001... The fact is, everybody gets acne. While it may not pose any serious threat to physical health, acne is visible and can cause a great degree of self- consciousness. In a statement, Dermclinic, a professional dermatology group said...

WEEKENDER.
August 31, 2001... Anti-fatigue drug Nu Skin recently launched a new product to help combat fatigue and stress. Called CordyMax Cs-4, it promotes vitality and stamina naturally. The product doesn't contain stimulants, but is highly capable of helping...

[0] WEEKENDER.
August 31, 2001... Asia's sex industry is rapidly expanding and changing, threatening efforts to control the region's AIDS epidemic. More men are visiting sex workers, and a wider variety of settings and areas, said a new report "Sex Work in Asia" by the...

WEEKENDER.
August 31, 2001... Early this month, the 8,000 members of Louie's THX Cinema received a very special invitation for a last full show tonight. Like most affairs held at the Makati venue, the event promises to be grand, with a glittering guest list, an open...

WEEKENDER.
August 31, 2001... The first Nihon Eiga Sai 2001: Anime on Parade film fest, after its special screenings at the UP Film Center and the Cultural Center of the Philippines, goes to Shangri-La Plaza Mall from Aug. 31 to Sept. 4. The festival's mall lineup...

[0] WEEKENDER.
August 31, 2001... The Vagina Monologues - Filipino Version Aug. 31 to Sept. 15, Fridays and Saturdays, 9 p.m. Music Museum, Greenhills Shopping Center, San Juan The title alone was enough to cause a sensation. The material itself was equally...

[0] WEEKENDER.
August 31, 2001... GALA Aug. 31, Sept. 1, 2, 7:30 p.m.; Sept. 1, 2:30 p.m. CAP Auditorium, Davao City Georgette Sanchez, a soloist of Ballet Philippines who bagged the Silver Medal Award during the 9th International De Dans De Paris 2000...

[0] WEEKENDER.
August 31, 2001... Wedding Celebration 2001 Sept. 2 Isla Ballroom, Edsa Shangri-La, Mandaluyong The Edsa Shangri-La Hotel will be holding a one-day bridal fair on Sunday, which will kick off with the launch of Bride and Home magazine. The fair...

Anti-crime body plans task force vs.
August 31, 2001... The newly formed National Anti- Crime Council (NACC) has decided to form an anti-drug trafficking task force in an effort to curb the massive narcotics trade in the country. Justice Secretary Hernando B. Perez, NACC chairman, said he has...

Dichaves, Tan face plunder charges.
August 31, 2001... Two associates of former president Joseph Estrada will be indicted for plunder at the Sandiganbayan over the alleged illegal purchase of P1.8 billion worth of Belle Corp. stocks in 1999 by two state pension funds. This developed as...

Ping challenges legality of Corpus'.
August 31, 2001... Intelligence Service of the Armed Forces of the Philippines (ISAFP) chief Col. Victor Corpus' reinstatement to the Armed Forces of the Philippines (AFP) was illegal, Sen. Panfilo M. Lacson yesterday claimed. In a Senate Question Hour...

PNP different now - Palace.
August 31, 2001... Malacanang yesterday downplayed claims that former police asset Mary "Rosebud" Ong's testimony is seriously affecting the Philippine National Police's (PNP) anti-crime drive. "It is not the existing PNP organization that Ms. Ong was...

Toxic waste.
August 31, 2001... The National Power Corp. (Napocor) Calaca power plant has been emitting waste materials contaminated with mercury, the environmental group Greenpeace yesterday charged. In a press conference at the power plant yesterday, Greenpeace energy...

Jinggoy's bail.
August 31, 2001... The Sandiganbayan Third Division yesterday ruled that it has authority to hear the bail request of former San Juan mayor Jose "Jinggoy" Estrada. Third Division chairman Anacleto D. Badoy, Jr. said that despite Mr. Estrada's petition for...

Impeach GMA?
August 31, 2001... A novel constitutional issue raised by a demoted Commission on Elections (Comelec) official may yet result in the filing of impeachment charge against President Gloria Macapagal-Arroyo, just like her predecessor Joseph Estrada. Former Comelec...

Suspect in priest's murder.
August 31, 2001... One of the seven men said to be responsible for the killing of Irish priest Fr. Rufus Halley was arrested on Wednesday afternoon in Balabagan town, Lanao del Sur, by government troops, the Philippine National Police (PNP) yesterday said. ...

Hostage insists ransom not paid.
August 31, 2001... A former Abu Sayyaf hostage yesterday insisted no ransom was paid for his freedom but congressmen did not appear convinced, questioning the authenticity of the evidence presented and citing testimonies to the contrary. Businessman Reghis...

Soldiers' lives lost due to AFP.
August 31, 2001... The Armed Forces of the Philippines (AFP) was chastised by senators yesterday when it admitted to sending troops to a war zone without firearms or communication devices. In a Senate hearing on allegations that AFP officials helped the...

President told to woo Japanese.
August 31, 2001... TOKYO - President Gloria Macapagal- Arroyo has to deliver results and go beyond rhetoric if she wants to regain the confidence of Japanese investors during her scheduled visit here next month. Philippine Chamber of Commerce and Industry...

Prices of beef products seen to.
August 31, 2001... Local dealers of live cattle yesterday warned that prices of beef and beef products are expected to go up in the coming months due to an anticipated supply shortage. "The price of Australian beef has increased because there is no other...

Globalization safety nets to be set.
August 31, 2001... The Macapagal-Arroyo administration will put up a safety net program to help sectors that will be affected by its agriculture modernization program as well as globalization. "Safe nets ensure that agricultural modernization is founded on...

Government wary of going to WTO on.
August 31, 2001... The government would rather resolve phytosanitary issues concerning its agriculture exports through bilateral negotiations rather than go straight to the World Trade Organization (WTO). Trade and Industry assistant secretary Jose Antonio...

Mindanao's biotechnology business.
August 31, 2001... DAVAO CITY - Crop-based biotechnology business is growing rapidly in Southern Mindanao. In fact, local biotechnology firms are even expanding their facilities, a regional official of the Bureau Plant Industry (BPI) told BusinessWorld...

Foreign airliners asked to expand.
August 31, 2001... DAVAO CITY - The city's tourism players have asked foreign airlines with landing rights in the city to expand their service routes once the Davao International Airport starts operation in April. Arturo Boncato of Davao Tourism Association...

TAX CLINIC.
August 31, 2001... This refers to a letter requesting on behalf of your client, Green Cross, Inc., a ruling on the proper tax to be imposed on its Green Cross Baby Cologne product. It is represented that the product Green Cross Baby Cologne is a...

NSC asset sell-off.
August 31, 2001... The liquidator of National Steel Corp. (NSC) disposed of at least P31.51 million worth of minor assets. NSC liquidator and former Securities and Exchange Commission commissioner Danilo L. Concepcion said at least P31.51 million has been...

Napocor power sales.
August 31, 2001... National Power Corp. (Napocor) yesterday reported that it posted P532.02 million in net earnings from the sale of unutilized energy during the first seven months of the year. This is up by 38% compared in the same period a year ago. In a...

Insecticide market.
August 31, 2001... The value of the country's total household insecticide market (major segments and relevant brands) registered negative growth this year compared to last year's figures, although the aerosol segment contributed the biggest sales. The major...

Philippine Airlines targets P1-.
August 31, 2001... Flag carrier Philippine Airlines, Inc. (PAL) is targeting a net profit of P1 billion for the current fiscal year ending March 2002, the third year of its rehabilitation, its top executive said. During a press briefing after the firm's...