BusinessWorld (Philippines) articles from December 2001

BusinessWorld (Philippines) archives from December 2001

Newspoint.
December 28, 2001... Byline: Vergel O. Santos It should be interesting - and for marketers especially useful - to know how much business the cellular phone has taken away from the greeting card, especially in this season. At any rate, by my own observation...

Fence Sitter.
December 28, 2001... Byline: Antonio R. Samson Every office has unpleasant people. I will look for their good points, keeping in mind that those I despise have mothers who love them and bosses who hired them. There must be nobility in these despicable...

Fast Forward.
December 28, 2001... Byline: Teddy Casino Christmas 2001 is the bleakest Christmas I have ever experienced. And I mean this in a material, political, cultural and spiritual sense. I don't want to sound overly pessimistic in this proverbial season of...

Rule of Law.
December 28, 2001... Byline: Augusto R. Bundang "Honesty is such a lonely word, everyone is so untrue...," sang the famous Billy Joel. Needless to say, he may just be right after all. For admittedly, honesty has become such a scarce commodity nowadays that...

Dear Editor.
December 28, 2001... Byline: Fr. Roy Cimagala In the school where I am the chaplain, they have finally put up the Christmas decors. It's a bit late this year, later than usual, anyway. For a while, I again was afraid it would not come. Through the years, I...

14 killed in road mishap.
December 28, 2001... DAVAO CITY - More than a dozen persons died in two separate accidents involving passenger buses based in this city earlier this week. On Christmas Day, a Yellow Bus hit a Mitsubishi L-300 van, killing 14 passengers and hurting seven others in...

Palace to censor PRs.
December 28, 2001... Malacanang wants media releases of all departments, agencies and bureaus to be cleared first with the Office of the Press Secretary before their release. President Gloria Macapagal-Arroyo issued Memorandum Order 49 last Dec. 13 directing all...

No plans yet for GMA.
December 28, 2001... President Gloria Macapagal-Arroyo is too preoccupied with the country's problems to think of her political plans for 2004, presidential spokesman Rigoberto Tiglao said yesterday. The Palace spokesman told a radio interview the presidential...

Kalibo bridge to be built.
December 28, 2001... The Public Works department has proposed the construction of a four- lane, 16-meter carriage way bridge in Kalibo, Aklan, that will cost P240.9 million. The cost will be funded through the National Roads Improvement and Management Project of...

DBM to computerize.
December 28, 2001... The Department of Budget and Management (DBM) is beefing up its computerization efforts next year to save on cost and promote transparency in government transactions. In a yearend report to the Cabinet, Budget Secretary Emilia T. Boncodin...

Vector.
December 28, 2001... Byline: Sonny Coloma As we look back at the year that's about to end, what are the most vivid images that linger in our minds? Is it that of the drama in the Senate impeachment trial? Is it that of Gloria Macapagal-Arroyo taking her...

Davao ready for SK polls.
December 28, 2001... DAVAO CITY - Young voters swarmed election offices in southern Mindanao to register for the Sangguniang Kabataan (SK) elections, the Commission on Elections (Comelec) here reported. Comelec regional director Lirio Joquino said registrants...

AFP behind Macapagal-Arroyo gov't.
December 28, 2001... Byline: Jennee Grace U. Rubrico with AFP The Armed Forces of the Philippines (AFP) is firmly behind the Macapagal- Arroyo administration, a military spokesman said yesterday amid weeks of rumors of a brewing coup. Local newspapers...

Gov't decries travel bans.
December 28, 2001... Byline: Mark M. Borlongan and Jennee Grace The Department of Foreign Affairs (DFA) yesterday dismissed as "sweeping generalizations" reports that more countries are becoming more wary of the Philippines as a tourist destination. DFA...

Abra local official ambushed.
December 28, 2001... Byline: Ruffy L. Villanueva with AFP An Abra mayor was killed yesterday after he was ambushed by a group of still unidentified men in his hometown in Tubo, Abra, the Philippine National Police (PNP) said. Reports reaching Camp Crame...

Military contradicts release of ASG.
December 28, 2001... Byline: Ruffy L. Villanueva The Armed Forces of the Philippines (AFP) yesterday fended off reports that the three remaining hostages being held by the Abu Sayyaf Group (ASG) will be released in Malaysia soon. In a telephone...

Down South.
December 28, 2001... Byline: Hernani P. de Leon DAVAO CITY - If the size of crowds shopping in regional urban centers were used as a gauge for Mindanao's economy, then the proper word to describe it is "robust." During the last two weeks, the shopping malls...

Misuari set to meet with wife in.
December 28, 2001... Byline: Mark M. Borlongan with AFP The wife of former Autonomous Region in Muslim Mindanao (ARMM) governor Nur Misuari was expected to meet her detained husband in Malaysia late yesterday, an associate said. "A policewoman will pick...

Yen slide drags down peso to close.
December 28, 2001... Byline: Leilani M. Gallardo The peso fell anew against the dollar in yesterday's trade, tracking the movement of the Japanese yen. Local currency traders took their cue from weaker regional currencies which were dragged down by the...

SEC to ask BSP: Check illegal sale.
December 28, 2001... Byline: Catherine C. Junia With the proliferation of companies involved in the unauthorized sale of securities, the corporate regulator is asking the Bangko Sentral to crack down on banks engaged in the sale of unregistered high-yield...

Demand Rates as of December 26, 2001.
December 28, 2001... The interbank demand rate weighted average was 8-15/32%, according to the Bangko Sentral treasury department. Rates quoted by 40 participating institutions ranged from 8% to 9- 1/2%,with lenders outnumbering borrowers at 29 to 11. Total...

Rural banks' bad loan ratio drops.
December 28, 2001... Byline: Daxim L. Lucas The Bangko Sentral ng Pilipinas (BSP) yesterday said the financial condition of the country's rural banks improved slightly in the third quarter as their average bad loan ratio declined. As of end-September,...

Window dressing props up Phisix.
December 28, 2001... Byline: Ma. Elizabeth L. Sanchez Stocks finally shored up yesterday, encouraged by investors doing their yearend Christmas shopping, brokers said. Appearing to join the post- Christmas cheer, other major Asian bourses also picked up...

BankAccounts.
December 28, 2001... Byline: Banking & Finance Group People hoping to receive sheets of uncut bank notes as BSP Christmas giveaways will be disappointed this year. BSP has discontinued the practice after receiving several complaints that some unscrupulous...

Metrobank shares valued at P1.05B.
December 28, 2001... Byline: Cecille E. Yap Some five million shares of Metropolitan Bank & Trust Co. were sold in a block sale at the Philippine Stock Exchange (PSE) yesterday. The stocks, amounting to P1.05 billion and sold at P210 apiece, were bought...

Robinsons putting up mall in.
December 28, 2001... Byline: Nelson V. Constantino CAGAYAN DE ORO CITY - Retail giant Robinsons is set to construct a P500- million super store within the Limketkai commercial complex here in January next year. City mayor Vicente Emano said top officials...

Camp John Hay Manor now open.
December 28, 2001... There's another good reason to come up to Baguio City as Camp John Hay Manor is now open to the public. The Manor is the first hotel that was constructed as part of the development plan for Camp John Hay. It is a 187-unit facility that...

Mirant, DoE ink energization accord.
December 28, 2001... Mirant Philippines Corp., through Mirant Philippines Foundation, and the Department of Energy (DoE) recently signed the final memoranda of agreement for the electrification of 129 barangays in the province of Albay representing the remaining...

Better prospects seen for housing.
December 28, 2001... Better prospects for land tenure and homeownership await the country's informal settlers next year with the institutionalization of radical program reforms this year under the government's Community Mortgage Program (CMP), which provides more...

Construction of Sta. Lucia's Club.
December 28, 2001... Sta. Lucia Realty & Development, Inc.'s banner venture Club Morocco Beach Resort and Residential Estates in Subic remains full blast in constructing various villa components and infrastructure that defines its Mediterranean-inspired water...

A new standard in urban luxury is.
December 28, 2001... "From the beginning, we wanted One Roxas Triangle to set a standard in luxury living developments in the country, and hopefully in the region," Ayala Land, Inc.'s chairman Fernando Zobel said recently in his welcome remarks at the official...

FPRDI promotes stress-graded lumber.
December 28, 2001... In the next two to three years, construction engineers can opt to use an alternative material to steel trusses for buildings, stress-graded lumber. Florentino O. Tesoro, director of the Forest Products Research and Development Institute...

Style and comfort on the rise at.
December 28, 2001... A new level of high-style, comfortable living designed for the 21st century yet priced for young couples and families on the go is rising at the latest condominium project in the Bonifacio Global City - Bonifacio Ridge. The initial...

Bigger things in store for Metro.
December 28, 2001... Bigger and brighter things are in store for commuters of Metro Manila's railway systems. Transportation and Communications Secretary Pantaleon Alvarez made the announcement following the opening of the first escalator of the MRT 3 at the...

Silent killer remains unknown to.
December 28, 2001... Chronic Obstructive Pulmonary Disease or COPD is expected to become the world's fifth-ranked burden of disease by 2020. It is estimated that 2.74 million people worldwide died of COPD in 2000, and as a single cause of death the disease...

NGOs get awards for good mgmt,.
December 28, 2001... From an urban-based group providing a healing, caring and teaching environment for street children to another implementing a preschool program for indigenous children three to six years old in remote villages of Benguet, the Consuelo Awards...

Firms forge alliance to enhance.
December 28, 2001... BLUE BELL, Pa. and LITTLETON, Mass. - Your face is a unique identifier of you. Viisage Technology, Inc. and Unisys Corp. have formed a global strategic alliance to enhance personal identification solutions with cutting- edge facial...

Muslim summit to assess global trade impact.
December 28, 2001... GENERAL SANTOS CITY - Business leaders and government officials from Brunei Darussalam, Indonesia, Malaysia and the Philippines will converge in this southern Mindanao city next month for the 1st BIMP-EAGA Muslim Business Summit. "Across...

Briefs.
December 28, 2001... PBSP joins UNDP As part of its efforts to lead the business community in advocating for the practice of corporate citizenship, the Philippine Business for Social Progress (PBSP) recently joined the United Nations Development Program's...

Motorola Labs scientists develop.
December 28, 2001... Scientists at Motorola Labs have reached new milestones in their development of miniature fuel cells that may one day be used to power everything from cellular phones and laptop computers to portable cameras and electronic games. They...

Go Teng Kok makes his mark.
December 28, 2001... Byline: Felipe F. Salvosa II No other sports official has made a mark bigger than what Philippine Amateur Track and Field Association (Patafa) head Go Teng Kok left in the local sports scene this year. The feisty Mr. Go has showed...

Courtside.
December 28, 2001... Byline: Anthony L. Cuaycong Somehow, you knew Dan Issel's days as head coach of Denver were numbered the moment he uttered a racial slur against a hometown fan. Sure, he made the statement in a fit of rage, without benefit of thought,...

Chess Piece.
December 28, 2001... Byline: Bobby Ang GM Vassily Ivanchuk Most BusinessWorld readers already know that GM Vassily Ivanchuk (nickname of "Chucky" as in "cookie") and GM Ruslan Ponomariov will be squaring off over eight games to determine the 2002 World...

Take Ten.
December 28, 2001... Byline: Behn Carvantes My mind was set. I was going to have (another) medical treatment that will require hospitalization this time. It's been 42 years since I was hospitalized. That took place after a bloody car accident where my (hard)...

Prepaid payment expansion to hike.
December 28, 2001... Byline: Eleanore C. Sanchez With the prepaid market still on the rise, providers of electronic distribution services are optimistic that next year would bring them increased growth. Rob Marabut, country manager of the UK-based E-Pay...

Guoco to sell more non-core assets.
December 28, 2001... Byline: Leilani M. Gallardo Cash-strapped Guoco Holdings (Phils.), Inc. (GPHI) is liquidating more non-core assets including raw land and industrial estates in Laguna, Batangas and Cebu to raise much-needed capital for debt payment. ...

Francisco Motors losing P40M in.
December 28, 2001... Byline: Cecille S. Visto Homegrown automotive assembler Francisco Motors Corp. (FMC) is reportedly losing P40 million to P50 million in sales every month while it awaits "substantial response" from the Board of Investment (BoI) on a...

Infocom expects 31% revenue rise.
December 28, 2001... The Internet arm of dominant carrier Philippine Long Distance Telephone Co. (PLDT), Infocom Technologies, Inc., is optimistic it will achieve a projected 31% revenue growth this year of P339.2 million. "We do not foresee revenues slowing...

Jancom takes waste mgmt deal case.
December 28, 2001... Byline: Cecille S. Visto An Australian waste management firm has asked the Supreme Court to compel the government to award to it a build- operate-transfer (BOT) contract for the development of waste disposal sites in two areas in the...

Singapore firm keen on resort.
December 28, 2001... Byline: Carmelito Q. Francisco DAVAO CITY - A former media personality here who has made good in Singapore is looking at the possibility of putting up a world-class tourist destination that can be compared with those in neighboring Asian...

BoI says ICT businesses to.
December 28, 2001... Given the government's thrust on the new economy, the information and communication technology (ICT) sectors are seen to prop up the country's economic growth in the next two to three years. Board of Investments (BoI) managing head...

Camacho assures RP won't go the way.
December 28, 2001... Byline: Leilani M. Gallardo The Philippines is expected to stay immune from the current financial and economic problems of Argentina despite similarities in both countries' economic profile and the tendency of foreign investors to...

PAL dismisses 150 flight.
December 28, 2001... Byline: Reena J. Villamor Feeling the effects of the Sept. 11 terrorist attacks, flag carrier Philippine Airlines, Inc. (PAL) recently decided to let go of its 150 probationary cabin attendants and discontinue the lease of three Boeing...

... as Central Mindanao investments.
December 28, 2001... Byline: Allen V. Estabillo COTABATO CITY - Investments in Central Mindanao grew 12% in 2001 as foreign and domestic traders regained confidence on the local economy due to the relatively improved peace and order situation. With only...

C. Visayas '01 investments plunge,.
December 28, 2001... Byline: Marites S. Villamor CEBU CITY - Planned investments in Central Visayas went down by half this year although the investment climate is still better compared with that of 1999. Ernesto Pintac, officer-in-charge of the Cebu...

2001 banana output seen to grow.
December 28, 2001... Byline: Carmelito Q. Francisco DAVAO CITY - Despite shrinking world market, banana production in Southern Mindanao is expected to grow 16% this year against last year, the Department of Agriculture (DA) regional office reported. ...

By 2011, RP seen as largest.
December 28, 2001... Byline: Ruby Anne M. Rubio The Philippines may yet gain the distinction as the world's largest user of geothermal energy given government plans to install a 990-megawatt (MW) geothermal plant by 2011. This is based on the latest...

Cagayan de Oro oil dealers score.
December 28, 2001... Byline: Nelson V. Constantino CAGAYAN DE ORO CITY - Petroleum dealers here said the series of price rollbacks is hurting their bottom line. Cecilio Pepito, Jr., president of the Federation of Petroleum Dealers Association (Fepeda)...

OFW deployment posts 2.16% growth.
December 28, 2001... Byline: Jeffrey O. Valisno Deployment of overseas Filipino workers (OFWs) grew 2.16% during the first three quarters of 2001 to 615,697 from 602,679 in the same period last year, the Philippine Overseas Employment Administration (POEA)...

BFAR says small fishermen lose.
December 28, 2001... Byline: Hernani P. de Leon DAVAO CITY - As much as a third of fish caught by small fishermen in Mindanao is lost due to poor handling, a regional fisheries official said here. Gil Adora, regional director of the Bureau of Fisheries...

Gov't told to embrace 'responsible.
December 28, 2001... Byline: Romulo T. Luib The government should begin promoting productivity-based wage adjustment schemes to unburden employers from wage hike demands emanating from factors that do not contribute to a firm's competitiveness. Thus...

Water rates up in metro, nearby.
December 28, 2001... Consumers will start the year 2002 with private water concessionaires Maynilad Water Services Inc. and Manila Water Co. Inc. increasing water charges by P5.16 and P2.78 per cubic meter, respectively. From the average tariff of P12.96 per...

Gov't to appease FATF (Readying.
December 28, 2001... Byline: Daxim L. Lucas, Dymphna R. Calica The Anti-Money Laundering Council (AMLC) yesterday denied reports that the Paris-based Financial Action Task Force (FATF) has rejected the country's anti- money laudering law. Instead, the...

Industrial production slows down in.
December 28, 2001... Byline: D'Laarni A. Ortiz Manufacturing production continued its downtrend in October, the National Statistics Office (NSO) reported yesterday. Based on the latest Monthly Integrated Survey of Selected Industries (MISSI), industrial...

SMC to put up P10-billion Batangas.
December 28, 2001... Byline: Shirley L. Flores Food and beverage giant San Miguel Corp. (SMC) is set to start construction on its planned P10-billion agro- industrial-ecological estate in the next three months on a 1,000-hectare property in Batangas. SMC...

DoF opposes IMF on VAT.
December 28, 2001... Byline: Dymphna R. Calica Opposing a recommendation of the International Monetary Fund (IMF), the National Government said it is not inclined to hike the 10% value-added tax (VAT) collected from consumers. Instead, it will improve...

BSP estimates December inflation at.
December 28, 2001... Byline: Daxim L. Lucas The country's inflation rate is expected to decline further this month as the economy reaps the benefits of low world oil prices combined with steady domestic prices. Bangko Sentral ng Pilipinas (BSP) governor...

ECONOMIC INDICATORS.
December 28, 2001... Byline: Josephine A. David The country's agriculture, fishery and forestry sector managed to post a 2.9% growth in gross value added (GVA) in the first nine months of the year, a downtick from last year's 3.4% increase. The sector...

Mining company saves P7 million.
December 28, 2001... Lepanto Consolidated Mining Co. (Lepanto), a leading mining company in the Philippines, concluded an auction for pine logs at SourcePilipinas.com which resulted in a P7-million savings from their last purchase price, or a reduction of over...

WEEKENDER.
December 28, 2001... Byline: Teresa Defensor CONCERT On Higher Ground Kuh Ledesma Dec. 28, 29, Jan. 4 and 5, 8 p.m. Music Museum, Greenhills Shopping Center, San Juan Kuh Ledesma is a completely different person. Still sporting the...

ECONOMIC INDICATORS.
December 28, 2001... Byline: D'Laarni A. Ortiz Foreign direct investments (FDIs) continue to avoid the country, as reflected by the 30.1% drop in pledges in the third quarter, consolidated data from the National Statistical Coordination Board (NSCB) show....

[0] WEEKENDER.
December 28, 2001... A King's Birth. Every Saturday and Sunday, 6 p.m., until Jan. 6. Shangri-La Plaza Mall, Mandaluyong. Trumpets performs in a live belen every weekend. it is a 45-minute show where shoppers get to see and feel the nativity as performed by...

WEEKENDER.
December 28, 2001... Byline: Giselle P. Kasilag CINEMA Susmaryosep! Four Fathers Edgardo "Boy" Vinarao The television news report shown at the beginning of the film pretty much explains the objective of director Edgardo "Boy" Vinarao in making...

[0] WEEKENDER.
December 28, 2001... Byline: Teresa Defensor Bahay ni Lola Uro dela Cruz Christmas is for children. And since the Metro Manila Film Festival always takes place during the holiday season, then there must always be a film for kids. Regal Films,...

[0] WEEKENDER.
December 28, 2001... Byline: Giselle P. Kasilag CINEMA Tatarin Tikoy Aguiluz Tikoy Aguiluz's film based on "Summer Solstice" a short story by National Artist for Literature Nick Joaquin, is a head turner. The trailer alone suggests the film is...

[0] WEEKENDER.
December 28, 2001... Byline: Giselle P. Kasilag CINEMA Di Kita Ma Reach Wilfredo Milan The film should have been called "It's A Small World." Every single character is somehow connected to each other. It is a romantic-comedy with a touch of...

[0] WEEKENDER.
December 28, 2001... Byline: Teresa Defensor CINEMA Yamashita, the Tiger's Treasure Chito Rono Japanese tourists who are in Manila for the holidays are advised not to go near any theater that is showing the movie Yamashita, the Tiger's...

WEEKENDER.
December 28, 2001... Byline: Noel Vera CINEMA Hubog Joel Lamangan Bagon Buwan Marilou Diaz Abaya Don't you get the feeling that in this 2001 Metro Manila Film Festival, the competition is especially fierce? Okay, so Uro de la Cruz's...

[0] WEEKENDER.
December 28, 2001... Byline: Dyani Cabaniero BOOKS Xilef By Augie Rivera Adarna House It's not very often you come across a children's book written and designed for the dyslexic, which Xilef (Adarna House) is. Written by Augie Rivera with...

WEEKENDER.
December 28, 2001... It was an eventful year for the Philippines, both economically and politically. Economic instability mainly brought by a regional slowdown last year was worsened by the aborted impeachment trial of Joseph Estrada. Thus, the Philippines was...

WEEKENDER.
December 28, 2001... Byline: Leotes Marie T. Lugo This year, the whole year was just about politics, a foreign business executive who heads an international company operating in the country noted. With a shake of his head, the businessman said there was...

[0] WEEKENDER.
December 28, 2001... Byline: Arnold S. Tenorio The past year has witnessed some of the most controversial revelations made about the government's supposed crusade against crime. For what has long been suspected regarding the country's police force was...

[0] WEEKENDER.
December 28, 2001... Byline: Karen L. Lema Topping the socioeconomic action agenda, recently forged among the government, business, labor and civil society leaders, was the issue of peace and order. With the spate of criminality, peace and order has...

[0] WEEKENDER.
December 28, 2001... Byline: Giselle P. Kasilag The resolution of the leadership crisis that has besieged the Cultural Center of the Philippines (CCP) for two and a half years should have been as much-awaited as the wedding of Marimar. The crisis was as...