BusinessWorld (Philippines) articles from August 2008

BusinessWorld (Philippines) archives from August 2008

SPECIAL FEATURE: Quarterly Trust Industry Report.
August 29, 2008... Byline: Hannah M. Muralla The second quarter saw the local trust sector still battling it out with the prevailing volatility in the capital markets, set off by inflation concerns amid rising fuel and commodity prices. The industry...

SPECIAL FEATURE: Quarterly Trust Industry Report.
August 29, 2008... Metropolitan Bank & Trust Company (Metrobank), the country's largest bank, led local fund managers in the 93rd Survey on Investment Performance of Retirement Funds in the Philippines conducted by independent consulting firm Watson Wyatt...

SPECIAL FEATURE: Quarterly Trust Industry Report.
August 29, 2008... Byline: Shelly Faune C. Dimaculangan Finally, an incentive for the country's citizens to pull back on their spending. The recently signed Personal Equity and Retirement Account (PERA) law, promises a secured retirement pension for...

SPECIAL FEATURE: Quarterly Trust Industry Report.
August 29, 2008... The BDO-Trust and Investments Group considers the Unit Investment Trust Fund (UITF) as an important component of its business. When it set out to create its UITF Product Suite, it consciously aimed to provide a whole range of products that...

BRIEFS.
August 29, 2008... Industry clustering In a seminar recently organized by the Department of Trade and Industry (DTI) called "Forum on Moringa Business Opportunities for the CARAGA Region," Engr. Leonore Calo of the DTI said the people of CARAGA can be more...

BIR Commissioner orders top priority for tax evasion cases.
August 29, 2008... Internal Revenue Commissioner Lilian B. Hefti is throwing the full force of the Bureau of Internal Revenue (BIR) behind the Bureau's Run After Tax Evaders (RATE) Program in support of President Arroyo's local and global commitments. ...

Evercrest Golf Club: A destination for more than just golf.
August 29, 2008... El Patio Restaurant at Evercrest recently launched a new menu set of delightful dishes, expertly prepared by the latest addition to the Evercrest family - Chef Michael Jordan from Newcastle, England. The 31- year-old Englishman steps out of...

PEOPLE.
August 29, 2008... Intercontinental Manila names new director of sales and marketing InterContinental Manila is proud to announce the appointment of its new Director of Sales and Marketing, Ma. Correa V. Aquino. Ms. Aquino brings with her extensive...

SPECIAL FEATURE: Remittance Services.
August 29, 2008... Byline: Anton Javier B. Dizon Overseas Filipino workers are not called the country's "modern heroes" for nothing. "First of all, remittances bring in funds to the country, particularly foreign exchange," said Raul Dimayuga, senior...

SPECIAL FEATURE: Remittance Services.
August 29, 2008... The Bank of the Philippine Islands (BPI) will recognize the achievements of overseas Filipinos in various fields of expertise in the upcoming BPInoy Awards in ceremonies to be held on Oct. 3, 2008. Now on its third year, the BPInoy Awards...

SPECIAL FEATURE: Remittance Services.
August 29, 2008... A little more than half a century ago, a small rural bank broke ground, laying the foundation for what was to become a pioneer in development banking. Initially established as the Pasay Rural Bank, Inc., it set out to become a distinguished...

SPECIAL FEATURE: Remittance Services.
August 29, 2008... iRemit, Inc. is a public corporation in the Philippines that was organized with a vision of providing quality, efficient and affordable remittance services to Overseas Filipino Workers (OFWs) and other nationalities globally. Currently, the...

SPECIAL FEATURE: Capitalized Thrift Banks.
August 29, 2008... Byline: Agape Grace E. Miguel The thrift banking sector plays a major role in the country's economic development. Composed of savings and mortgage banks, private development banks, stock savings and loan associations, and microfinance...

SPECIAL FEATURE: Capitalized Thrift Banks.
August 29, 2008... Byline: Agape Grace E. Miguel In an effort to make banking a pleasant experience for its customers, Premiere Bank, one of the largest capitalized thrift banks in the country, is redesigning the look and feel of its branches with a...

SPECIAL FEATURE: Capitalized Thrift Banks.
August 29, 2008... One in every six school-age children in the Philippines is deprived of education. Poverty drives them out of the classrooms and into labor where they are sometimes exposed to harsh surroundings and environments not even suitable for adults....

SPECIAL FEATURE: Capitalized Thrift Banks.
August 29, 2008... Byline: Agape Grace E. Miguel Start-up companies are pursuers of the same business requisites: target market, labor and capital. Of the three, capital-the determinant of an enterprise's initial phase of operations-remains top priority,...

SPECIAL FEATURE: Shopping.
August 29, 2008... Byline: Agape Grace E. Miguel Malls are everywhere in the country. Notorious for their size and capacity, local malls try their best to lure consumers with the scent of new merchandise in their clean, air-conditioned shops, hoping that at...

WEEKENDER: going out.
August 29, 2008... Byline: Sam L. Marcelo DANCE Moon Water Cloud Gate Dance Theatre Aug. 30 and 31, 8 p.m. Main Theater, CCP, Roxas Blvd., Pasay City If not for the subtle undulations of a lone dancer's fingertips, she could be...

WEEKENDER: going out.
August 29, 2008... Byline: Jeffrey O. Valisno CONCERT Eraserheads: The Reunion Aug. 30, 8 p.m. The Fort Open Field, Bonifacio Global City, Taguig After days of uncertainty, the much-anticipated reunion concert of the prominent Pinoy...

WEEKENDER: going out.
August 29, 2008... Byline: Jeffrey O. Valsino CONCERT The Ballads of... Mark Bautista, Ronnie Liang and Richard Poon Aug. 29, 8 p.m. Metro Bar, 47 West Ave., QC Tonight audiences will have a chance to hear the greatest ballads of all...

WEEKENDER: movies.
August 29, 2008... Byline: Noel Vera MOVIE REVIEW Tambolista Directed by Adolfo Alix, Jr. Adolfo Alix, Jr.'s Tambolista (Drumbeat) recalls Brillante Mendoza's Tirador (Slingshot) in not a few ways, though probably not intentionally - both...

WEEKENDER: movies.
August 29, 2008... Byline: Jeffrey O. Valisno MOVIE REVIEW Gravedancers Directed by Mike Mendez Like a monster that refuses to die, the low-budgeted American horror movie Gravedancers has been resurrected in local cinema houses this week,...

WEEKENDER: movies.
August 29, 2008... Byline: Mira B. Gloria MOVIE REVIEW Smother Directed by Vince de Meglio If you're in your late twenties or early thirties, you've probably recognized how fast your parents seen to be growing old. But aside from the streaks...

WEEKENDER: staying in.
August 29, 2008... Byline: Ramon Guillermo BOOK REVIEW Portraits of a Tangled Relationship: The Philippines and the United States by Jose Maria A. Carino, Jose Y. Dalisay, Jr., Sonia O. Ner, Mabi David and Crispina M. Reyes Ars Mundi...

WEEKENDER: staying in.
August 29, 2008... Byline: Jeffrey O. Valisno CD REVIEW Sinatra Nothing But The Best Frank Sinatra Warner Music Philippines He was irreverent. He had guts. He could sing. He could even act. And, oh yeah, he defined American pop. He...

WEEKENDER: staying in.
August 29, 2008... Byline: Johanna D. Poblete The Itchyworms' latest release, Self-titled (a cheeky reference to the recent spate of self-titled albums, provides the listener with their hodgepodge of musical styles, the strangest being "disco" era music....

WEEKENDER: staying in.
August 29, 2008... This month, the BPI Foundation, Inc. is celebrating three decades as the corporate social responsibility arm of the Bank of the Philippine Islands (BPI) with the launch of a coffee-table book on Philippine art history. The 157-year-old...

WEEKENDER: health.
August 29, 2008... Byline: Emilia Narni J. David Iridology centers claim that iridology can diagnose various illnesses. Doctors and ophthalmologists, however, denounce the practice as "quack" doctoring, saying that iridology cannot be used as a diagnostic...

SPECIAL FEATURE: Quarterly Trust Industry Report.
August 29, 2008... Fund managers are put to the test as persistent worries about domestic inflation and the US economy slowdown resulted in continued volatility in asset prices. Significant growth in assets under management (AUM) is thus rarely seen these days....

WEEKENDER: health.
August 29, 2008... Music as part of a therapy is seen to reduce anxiety and stress, even encouraging communication and thereby contributing to rehabilitation in some instances. To some people, it even provides a form of emotional support, an outlet for...

WEEKENDER: marketing.
August 29, 2008... Byline: Nanette Franco-Diyco I like the two feet on the ground message of Knorr Pork Cubes' television commercial recently launched by Unilever agency Lowe. It was commonsensical for the strategic planners from Unilever and Lowe to put...

WEEKENDER: marketing.
August 29, 2008... Byline: Terence A. Hockenhull Digital projectors have now started to come down in price and many businesses see them as an affordable replacement for bulky overhead projectors and folders full of uneditable, degradable acetate slides....

WEEKENDER: travel.
August 29, 2008... Byline: Elias B. Guerrero Jr. Sarawak is proudly called Land of the Hornbill because of the large numbers of the majestic bird that inhabit its lush rainforests. It is the largest state of Malaysia and one of two such states (the other...

WEEKENDER: hot this weekend.
August 29, 2008... Byline: Jeffrey O. Valisno FESTIVAL 4th Backdoor Ventures Arts and Music Festival Aug. 29-31, 10 a.m. to 10 p.m. Megatrade Hall 3, Mega B, SM Megamall, Mandaluyong Everything and anything related to the arts and...

WEEKENDER.
August 29, 2008... Back to the Days. Aug. 29, 30, Sept. 12 and 13, 8 p.m. Fiesta San Miguel, Dusit Thani Manila, Ayala Center, Makati. Paolo Santos and Top Suzara will perform in this special fund-raising concert series for the benefit of tims of typhoon Frank....

WEEKENDER.
August 29, 2008... Byline: Johanna D. Poblete Filipinos are world-renowned for their hospitality, but it's a rare occurrence to find a Filipino at the helm of anyone of the international hotel chains operating in Manila. Only recently, The Manila...

SPECIAL FEATURE: Shopping.
August 29, 2008... What do women want? That's the age-old question that baffled medieval to modern men and continues to remain unanswered despite the world's great progress in science, technology, and culture. This August, the SM Department Store's What...

SPECIAL FEATURE: Shopping.
August 29, 2008... Byline: Bernice Marie V. Berida Gone are the old days of necessity-oriented shopping. Today, malls define a lifestyle, offering a complete activity package that ranges from leisure to health care to even religious worship. The idea is to...

SPECIAL FEATURE: Shopping.
August 29, 2008... Source: Nielsen-ShopperTrends 2008

SPECIAL FEATURE: Supermarket.
August 29, 2008... Byline: Anton Javier B. Dizon Modern society lives and breathes on convenience. And what else could be more convenient than having nearly everything under one roof? "Customers still generally go to supermarkets to buy toiletries and...

SPECIAL FEATURE: Supermarket.
August 29, 2008... Premium goods, fine wines and organic items make Rustan's a haven for shoppers Since its first foray in the business over three decades ago, Rustan's Supermarket has continuously established many product and service innovations that...

Tax bureau gives in to insurers.
August 29, 2008... Byline: Ruby Anne M. Rubio Insurers welcomed the changes the Bureau of Internal Revenue (BIR) made to a tax order that imposed additional taxes on their sector, but did not rule out asking for more concessions. The tax bureau...

Peso rallies for the second day.
August 29, 2008... Byline: Maria Eloisa I. Calderon An expected rate hike by the central bank propelled the peso to a nearly week-high against the dollar yesterday. It closed 10 centavos stronger at P45.63 to the dollar from Wednesday's P45.73. ...

Retirement funds abandon stocks in Q1.
August 29, 2008... Byline: Maria Eloisa I. Calderon Retirement funds flowed mainly into the bond market in the first quarter this year, dumping the more volatile equities whose luster waned amid worries over a shaky US economy, said consulting firm Watson...

Market rises slightly, buoyed by Wall St.
August 29, 2008... Byline: Kristine Jane R. Liu The continued rally in US stocks buoyed the market yesterday, although trading was still essentially flat. Analysts said that while the market's climb was a welcome break from continuous drops since last...

COURTSIDE.
August 29, 2008... Byline: Anthony L. Cuaycong The Yankees are wearing long faces these days, and with reason. Including yesterday's blowout loss to the Red Sox, their second straight against their dreaded arch-enemies and principal rivals for an American...

GIVE AND GO.
August 29, 2008... Byline: Michael Angelo S. Murillo For every ending there's a beginning, and for the Philippine Basketball Association, which had a solid and fruitful Season 33, the beginning of a brand-new season starts this weekend with the Annual...

CHESS PIECE.
August 29, 2008... Byline: Bobby Ang GM Dusan Popovic GM Dusan Popovic is a 25-year-old international grandmaster from Serbia with what seemed like a great future - he made the fourth best result on board 5 from 2006 Turin Olympiad with 9.5/13. ...

Docu on hunger airs Saturday.
August 29, 2008... Byline: Jeffrey O. Valisno The spiraling cost of rice around the world recently has stressed the importance of adequate government policies to guarantee food security. To shed light into the issue, Quality Television (Q-11) will...

TAKE TEN.
August 29, 2008... Byline: Behn Cervantes I had almost forgotten how kulit (pushy) some Filipinas are. They exhibit doggedness when in hot pursuit of their aims. As soon as these Pinays find an available opening for their issue, they will latch on the...

TRADE TRIPPER.
August 29, 2008... Byline: Jemy Gatdula One of the things I observed about Philippine public life is that as America goes so goes the Philippines. The US gets its "Camelot" in the 1960s, so we elect Ferdinand and Imelda to Malacanang. The US elects an...

VECTOR.
August 29, 2008... Byline: Sonny Coloma A few years ago, I proposed the introduction of a seminar-workshop on spirituality in organizations for executives and managers. This move was questioned by some faculty colleagues who wondered what the rationale for...

VANTAGE POINT.
August 29, 2008... Byline: Luis V. Teodoro Jose Rizal had a girl in almost every port. Antonio Luna had a vile temper that cost him his life. Andres Bonifacio didn't win any battles. And Ninoy Aquino was the quintessential trapo until the system he had...

FENCE SITTER.
August 29, 2008... Byline: Antonio R. Samson The ideal motivating mechanism is supposed to be the "carrot and stick" approach. It is a promised reward (carrot) combined with an implied penalty (stick). The origin of the phrase seems to be a driver dangling...

COMMENTARY.
August 29, 2008... Byline: Romeo T. Capulong In his speech on June 30, 2008, on the topic of our forum this morning, our keynote speaker, Chief Justice Reynato S. Puno, noted that "the poor complain that the playing field in our justice system is tilted...

Bureaucracy, costs make the Philippines less attractive to investors.
August 29, 2008... Byline: Jessica Anne D. Hermosa Slow processing time, disjointed incentive policies, and high business costs are making the Philippines lose out on foreign direct investments to neighbors like Vietnam, experts say. Elmer C. San...

Bread slated to cost more next month.
August 29, 2008... Byline: Bernardette S. Sto. Domingo Consumers should brace for more expensive bread products in September after bread makers failed to convince flour millers to hold off price adjustments for the month. Philippine Baking Industry...

Support mounts in Senate to ratify ASEAN charter.
August 29, 2008... Byline: Bernard U. Allauigan TheRE IS MOUNTING SUPPORT among senators to ratify a landmark charter that will turn the 41-year old Association of Southeast Asian Nations (ASEAN) into a rules-based organization from one that could not move...

Transmission project deferred.
August 29, 2008... Byline: Sarwell Q. Meniano TACLOBAN - The Regional Development Council (RDC) for Eastern Visayas has deferred a proposed transmission project that would have improved power supply in Northern Samar. RDC chairman and Calbayog City...

TAXWISE OR OTHERWISE.
August 29, 2008... Byline: Catherine T. Manahan Businessmen, brace yourselves! A bill now pending in Congress will unleash a package of higher local taxes and regulatory fees that will increase business transaction costs. After just a whiff of income...

State to implement merit-based pay raise system.
August 29, 2008... Byline: Alexis Douglas B. Romero The government will implement for the first time a merit-based system in granting salary increases to its employees to improve productivity. In a press conference held yesterday in Malacanang, Budget...

Drug firms fear law's requirements will make medicines costlier.
August 29, 2008... Byline: Emilia Narni J. David A provision in the cheaper medicines law might negate its intent to lower prices of drugs, pharmaceutical companies cautioned yesterday. In a public consultation on the Universally Accessible and...

House okays bill giving teeth to political parties.
August 29, 2008... Byline: Jhoanna Frances S. Valdez The House of Representatives has approved on third and final reading Wednesday evening a bill which seeks to strengthen the political party system through state subsidy. The proposed Political Party...

Wider judicial remedy coverage to help poor - Chief Justice.
August 29, 2008... Byline: Ira P. Pedrasa The Supreme Court is mulling expanding the coverage of a judicial remedy on human rights to protect the poor. Speaking before delegates of the Kabuhayan, Karapatan at Katarungan forum organized by party-list...

New CHEd chairman.
August 29, 2008... President Gloria Macapagal-Arroyo has named lawyer and academician Emmanuel "Manny" Y. Angeles as chairman of the Commission on Higher Education (CHEd). This was announced by Executive Secretary Eduardo R. Ermita in a press conference...

Judge's inhibition.
August 29, 2008... Special Prosecutor Dennis Villa-Ignacio has sought the inhibition of Sandiganbayan Associate Justice Gregory S. Ong, chairman of the court's fourth division, from conducting trial on 148 counts of graft, malversation and falsification cases...

Retrieval operations.
August 29, 2008... Operations to retrieve the toxic chemical shipment on board an ill- fated ferry that sank more than two months ago will start today. Vice- Admiral Wilfredo D. Tamayo, Philippine Coast Guard commandant, said they have given Titan Salvage and...

Intercepted smuggling.
August 29, 2008... The Presidential Anti-Smuggling Group (PASG) yesterday halted an attempt to smuggle out of the country P300 million worth of one-peso coins in a 40-foot container van. In a statement, PASG head Undersecretary Antonio A. Villar, Jr. said the...

Mindanao business seeks resumption of peace negotiations.
August 29, 2008... Byline: Darwin T. Wee DIPOLOG CITY, ZAMBOANGA DEL NORTE - The largest business yesterday called on both the government and the Moro rebels to resume the long- stalled peace talks, whose prospects have dimmed due to recent clashes in some...

Palace disowns Ilaga.
August 29, 2008... Byline: Alexis Douglas B. Romero Malacanang yesterday disowned the vigilante group Ilaga and maintained that civilians should not be allowed to arm themselves even if their objective is for defense against the Moro Islamic Liberation...

PAL adopts cost-cutting measures, expects gloomy days ahead.
August 29, 2008... Byline: Paolo Luis G. Montecillo Philippine Airlines (PAL) expects gloomy days ahead as the industry continues to struggle with high jet fuel prices. But the flag carrier is banking on minute cost-cutting measures that will slash...

Villar's Sta. Lucia Land expects turnaround in third quarter.
August 29, 2008... Byline: Don Gil K. Carreon Listed Sta. Lucia Land, Inc. expects a better third quarter as it books first-half sales following the transfer of assets from its parent company. The Villar-led realty firm expects a net profit turnaround...

Appeals court forces LRTA into arbitration proceedings with.
August 29, 2008... Byline: Ira P. Pedrasa The Court of Appeals has upheld a Pasig trial court ruling that had prevented the government from offering to other parties the concession rights over advertising spaces at the Light Rail Transit Lines 1 and 2,...

Shang Properties to start Ortigas project.
August 29, 2008... Byline: Kristine Jane R. Liu Listed Shang Properties, Inc. will start a commercial and retail building project at its Ortigas Center property in Pasig City, the company told the stock exchange yesterday. The project will be developed...

Australian BPO may set up branch in Davao, but talent lacking.
August 29, 2008... Byline: Jessica Anne D. Hermosa and Carmelito Q. Francisco Australian-based business process outsourcing (BPO) operator Admerex is eyeing Davao City as the possible location of its second contact center in the Philippines, an umbrella...

GMA, IPVG partner for video game.
August 29, 2008... Byline: Paolo Luis G. Montecillo Local internet video game distributor IP E-Games has partnered with a unit of GMA Network Inc., for a new online gaming brand, X-Play, to capitalize on a potential 18-million-strong local online gaming...

Human resource experts call for action to stem talent crunch, warn of.
August 29, 2008... Byline: Emilia Narni J. David Human resource experts are calling attention to four issues fuelling a "talent crunch" in the country, warning that inaction would severely reduce the country's competitiveness as an investment destination....

IN THE WORKPLACE.
August 29, 2008... Byline: Reylito A.H Elbo I'm an ordinary employee working for a medium-sized corporation in Makati. My concern is about our management practice of maintaining several closed circuit television units that monitor employee movement. Isn't...

Bourse okays afternoon trading starting next year.
August 29, 2008... Byline: Kristine Jane R. Liu Stock market trading hours will be extended to four in the afternoon starting next year in a bid to lure more investors and boost volumes. The objective, the Philippine Stock Exchange (PSE) said, also...

Franchising interest rises as Filipinos seek income boost.
August 29, 2008... Byline: Don Gil K. Carreon THE local entrepreneurial spirit has not been dampened by a slowing economy, with franchises continuing to expand and owners still being swamped with applications from would-be enterprisers. But the growth,...

Companies turn bearish in new central bank poll.
August 29, 2008... Byline: Gerard S. dela Pena Companies have become pessimistic in their outlook for third quarter following a continued rise in commodity prices and slower economic growth, a central bank survey showed. The results of the Bangko...

Market lurches sideways minus catalysts.
August 28, 2008... Byline: Kristine Jane R. Liu Local share prices rose a bit higher yesterday, although trading was essentially flat, with investors waiting for market-moving news, analysts said. The benchmark Philippine Stock Exchange index went up...

COURTSIDE.
August 28, 2008... Byline: Anthony L. Cuaycong "Uneasy lies the head that wears a crown," William Shakespeare once wrote, and the cliche appears to have spurred Danny Ainge into signing Darius Miles to a contract. Still, hoops fans have every right to...

New foreign visa to generate jobs - Immigration chief.
August 28, 2008... Immigration Commissioner Marcelino Libanan said at least 100,000 new jobs will be created from a proposed new indefinite stay visa for foreigners. The visa will be given to those who will employ at least 10 Filipinos in viable and...