BusinessWorld (Philippines) articles from December 2009, page 10

BusinessWorld (Philippines) archives from December 2009

PHILIPPINE SILICON VALLEY.
December 8, 2009... Byline: Dennis Posadas Since it is the eve of the Copenhagen conference, I would like to discuss what is probably one of the main stumbling blocks towards a deal: exactly who pays for climate mitigation and adaptation. I would like to share...

Meralco to raise P5.5 billion from notes.
December 8, 2009... Byline: Jose Bimbo F. Santos Listed utility Manila Electric Co. (Meralco) will issue debt papers before the year ends to repay debt. In a disclosure to the stock exchange yesterday, Meralco said it would issue P5.5 billion in corporate...

Holcim sees demand slowdown due to polls.
December 8, 2009... Byline: Kristine Jane R. Liu Cement manufacturer Holcim Philippines expects demand for its products to go down next year as a result of a public works ban ahead of the national elections in May. It may also take time before the next...

First Pacific closes deal to hike stake in RP's largest miner.
December 8, 2009... Byline: Neil Jerome C. Morales Hong Kong's First Pacific Co. Ltd. yesterday closed the deal to buy a 9.24% stake in Philex Mining Corp., the country's largest miner, for P9.493 billion or $202 million. The deal increased First Pacific's...

Miner's new gold and silver processing plant in Mindanao halfway.
December 8, 2009... Canadian miner Cadan Resources Corp. is halfway into completing its gold and silver plant in southern Mindanao. "The new processing plant at the T'Boli gold-silver mine is now 55% completed," the miner told the Toronto and Frankfurt bourse...

Vulcan signs deal with Chinese miner for copper joint venture in.
December 8, 2009... Byline: Neil Jerome C. Morales Listed Vulcan Industrial and Mining Corp. has inked a deal for a possible buy-in of a Chinese miner and a partnership for a copper project in Western Visayas. Vulcan told the bourse yesterday it had signed a...

Smart, Red Mobile want permits extended.
December 8, 2009... Two telecommunication companies are seeking the extension of the certificates of public convenience from the National Telecommunications Commission (NTC). Smart Communications, Inc. and unit Connectivity Unlimited Resources Enterprises...

Moro rebels on guard vs Ampatuan army.
December 8, 2009... Byline: Darwin T. Wee and Adriel M. Paglinawan ZAMBOANGA CITY - The Moro Islamic Liberation Front (MILF) has alerted its troops in Maguindanao to be on guard against armed Ampatuan loyalists seeking refuge in rebel territories. Eid Kabalu,...

Audit of regional funds set.
December 8, 2009... Byline: Adriel M. Paglinawan Interior Secretary Ronaldo V. Puno yesterday asked the Budget department and the Commission on Audit (CoA) to review and audit all funds, including foreign aid, that flowed to the Autonomous Region in Muslim...

Families of victims facing difficulty from lack of local service.
December 8, 2009... Byline: Romer S. Sarmiento GENERAL SANTOS CITY - Families of 30 media workers killed in the gruesome Ampatuan town massacre two weeks ago, many of whom were laid to rest, have yet to receive death certificates that would be used in filing...

Disqualification sought over bid of Arroyo.
December 8, 2009... Byline: Adriel M. Paglinawan and Emilia Narni J. David A MILITANT lawmaker yesterday filed a disqualification case against the congressional bid of President Gloria Macapagal-Arroyo, citing possible undue advantage due to her current...

Japan to deliver fertilizers under grant.
December 8, 2009... Byline: Neil Jerome C. Morales The Japanese government will deliver 7,500 metric tons (MT) of fertilizers, which forms part of Japan's Y480-million (P253-million) grant to the Philippines, next week. "The last shipment of 7,500 MT is...

Project to strengthen Phivolcs.
December 8, 2009... Byline: Alexis Douglas B. Romero The Philippine Institute of Volcanology and Seismology (Phivolcs) and the Japan International Cooperation Agency (JICA) will sign today an agreement that aims to boost the agency's capability to detect and...

Congress to Craft Joint Session Rules for Discussing Martial Law
December 8, 2009... Congress could not immediately discuss the Maguindanao martial law proclamation report of the President, transmitted Sunday, as it has yet to finalize rules for the joint session, Senate and House of Representatives leaders yesterday said. ...

Legal challenges to proclamation filed in Supreme Court.
December 8, 2009... Byline: Ira P. Pedrasa The martial law proclamation covering a wide area of Maguindanao yesterday faced several legal challenges in the Supreme Court. First to file a petition that also sought a stay order on Proclamation 1959 were Philip...

Prosecutors start probing other suspects in Maguindanao murders.
December 8, 2009... Byline: Joel B. Escovilla and Carmelito Q. Francisco State prosecutors yesterday started investigating high-profile members of the Ampatuan clan and several others for rebellion arising from an election-related violence two weeks ago. The...

Threat to jobs not over.
December 8, 2009... Byline: Jessica Anne D. Hermosa Employment in developing countries, including the Philippines, will continue to drop in the near term despite early signs of economic recovery, the International Labor Organization (ILO) said in a report...

Shortfall, economy to weigh on decision to keep spending.
December 8, 2009... Byline: Alexis Douglas B. Romero A decision to extend stimulus programs to next year and beyond will depend on how the economy performs and the budget deficit, officials yesterday said. "We will continue to support a stimulus program next...

Meralco says rates to go down, prior hikes to be offset.
December 8, 2009... Byline: Jose Bimbo F. Santos Customers of Manila Electric Co. (Meralco), the country's largest electric utility, will see their December bills go down by about P0.0257 per kilowatt-hour (kWh) due to a reduction in the generation charge. ...

Manila time.
December 7, 2009... Byline: Johanna D. Poblete The significance in the introduction of the new Jaeger-LeCoultre Reverso Squadra World Time Chronograph Philippine Limited Edition (P931,000) - so named because it takes the locale as its inspiration and celebrates...

ERRATUM.
December 7, 2009... Unfortunately in an interview for a story called "Empowering Beauty" which came out on Nov. 9, information was provided to the reporter by the subject which turned out to be less than accurate. The offending paragraph should read: "Maritess...

CHESS PIECE.
December 7, 2009... Byline: Bobby Ang The FIDE World Chess Cup is taking place in the oil-boom town of Khanty-Mansiysk, in that general part of Russia we usually refer to as Siberia, from Nov. 20 up to Dec. 15, 2009. It is a seven-round knockout event comprising...

Global sourcing confab slated.
December 7, 2009... The Department of Trade and Industry through the Center for International Trade Expositions and Missions (CITEM) is preparing for the 10th e-Services Global Sourcing Conference and Exhibition, in a bid to further strengthen the country's...

Marriott Hotel announces 'Festive Season'.
December 7, 2009... The festive time of the year has begun once again bringing sparkling excitement and grandeur to Manila and to enhance the thrill, Marriott Hotel Manila, the recently opened 5-star hotel in Newport city, has announced the launch of "Festive...

Sugar mill acquires SAP All In One.
December 7, 2009... Victorias Milling Co., Inc. (VMC), one of the earliest sugar milling and refining facilities in the Philippines, has acquired the license to SAP All In One as part of its modernization program. The company aims to improve on operational...

CONSUMER GUIDE.
December 7, 2009... Le Coeur de France launches Christmas treats Christmas at Le Coeur de France gets extra sweet and nice with the launch of "Delightful Christmas Treats," a perfect for take-home or as gifts to family and friends. Delightful Christmas Treats...

BRIEFS.
December 7, 2009... Promotion bared Now on its 7th year, The Flavors of Spain aspires to strengthen the connection between the gastronomical delights and customs of Spain. To let simple Spanish cuisines bring delight to the spirit, relish the flavors of Spain at...

TAKE TEN.
December 7, 2009... Byline: Behn Cervantes Some years back, my eldest sister Rachel, who was residing Florida, broke her shoulder from a bad fall while walking in the streets on a dark slippery night. She found herself confined to my sister Aurora's home where...

Fabric carvings and liquid metal.
December 7, 2009... It felt like a mirror ball had exploded in the room and reassembled itself as a 25-piece collection of sparkly dresses. Far from being a holiday cliche, it was decadent, luxurious, and hard to pull off unless the wearer is the type to revel in...

WEALTH MANAGER.
December 7, 2009... Byline: Ma. Aizl Camille B. Cabarles Recommendation: MEDIUM TO LONG-TERM BUY Analysts tagged Atlas Consolidated Mining & Development Corp. "good" for accumulation due to bright prospects backed by a stabilizing economy. Atlas last...

WEALTH MANAGER.
December 7, 2009... Byline: Josephine Valle-Sison Recommendation: BUY Lodestar Investment Holdings Corp. was given a "buy" recommendation by AB Capital Securities, Inc. on account of an expected turnaround. Formerly a mining company, Lodestar is now an...

WEALTH MANAGER.
December 7, 2009... Byline: Alria M. Ventanilla Recommendation: SPECULATIVE BUY With the government promoting the development of renewable energy sources, companies like Trans-Asia Oil and Energy Development Corp. (TA) have become attractive to investors. ...

WEALTH MANAGER.
December 7, 2009... Monday, 7 December - Last day of SUBMISSION of summary report of certification issued by the president of the National Home Mortgage Finance Corporation (RA 7279) for the month of Nov. 2009 e-FILING/FILING & e-PAYMENT/PAYMENT of...

WEALTH MANAGER.
December 7, 2009... Byline: Adoracion A. Cabrera The Financial Executives Institute of the Philippines (FINEX), in partnership with ING Bank N.V., presented to Jose Sio, executive vice president and chief financial officer (CFO) of SM Investments Corp., the 2009...

SPECIAL FEATURE: Johnny Litton.
December 7, 2009... Byline: Hannah Muralla "Good morning, Manila. This is Johnny Litton bringing you your early news." So went Johnny Litton's daily greeting to Channel 4 viewers during the '80s, on a show co-hosted with Baby O'Brien. Later, he would move on...

SPECIAL FEATURE: Johnny Litton.
December 7, 2009... Johnny Litton has amassed plenty of high-profile friends in the span of his career - among them media celebrities, corporate movers and shakers, and high society icons. Few have had the chance to rub elbows with the country's glitterati, but...

SPECIAL FEATURE: Telecom Industry Report.
December 7, 2009... Byline: Victoria T. Vizcarra If necessity is the mother of invention, then in a country of 35 million cellphone holders, the rise of the mobile landline was a phenomenon just waiting to happen. The hybrid communication device is poised to...

SPECIAL FEATURE: Telecom Industry Report.
December 7, 2009... Byline: Katrina Paola B. Alvarez When scouting for a smartphone, buyers often focus on the hardware - keyboard, screen size, camera, battery life, style - and discover the perks and pitfalls of its software - well after the purchase. The...

SPECIAL FEATURE: Telecom Industry Report.
December 7, 2009... Globe, which introduced SMS service to the country and started offering international roaming to its subscribers in 1995, knew then that it was embarking on a long line-up of mobile services. At the turn of the millenium, the telco firm...

Plantersbank Tier 2 issuance approved.
December 7, 2009... Byline: Don Gil K. Carreon The Bangko Sentral ng Pilipinas (BSP) has approved the plan of thrift bank Planters Development Bank to raise up to P2.5 billion in Tier 2 notes to expand its lending operations. In a text message to reporters on...

T-bill rates may stay flat due to high demand.
December 7, 2009... Byline: Louella D. Desiderio The rates of Treasury bills at today's auction are not expected to move significantly due to expected high demand for the short-term papers. The Bureau of Treasury is scheduled to auction P6.5 billion worth of...

'Precautionary saving' falls as social security coverage rises.
December 7, 2009... Byline: Benjamin V. Buco Jr. While higher membership in the country's social security system (SSS) may be viewed as a positive development, it has actually made Filipino households save less, a study released over the weekend by the Asian...

YIELD TRACKER.
December 7, 2009... Byline: Josephine Valle-Sison Philippine debt yields were little changed last week from month-ago levels in the absence of new leads, traders said at the weekend. Government securities yielded only 6.21 basis points (bps) lower on the...

Investors to get guidance from fresh data.
December 7, 2009... Byline: Kristine Jane R. Liu Economic data set for release this week are expected to set the pace of trading, analysts said. First is the foreign reserves data for November, due for release today; exports data for October, for release on...

COURTSIDE.
December 7, 2009... Byline: Anthony L. Cuaycong Manny Pacquiao obviously doesn't think much of Floyd Mayweather, Jr. After all, it took him a mere two hours to accede to the terms and conditions Top Rank honcho Bob Arum negotiated with Golden Boy Promotions...

ROOTS.
December 7, 2009... Byline: Jose S. Arcilla S.J. Local history is not a new discipline, but goes back to the earliest period when people began to recall, talk, and write about the past. Inadequate communication led to it. The local community formed a limited...

CORPORATE WATCH.
December 7, 2009... Byline: Amelia H.C. Ylagan Jose Rizal borrowed the title of his novel Noli Me Tangere from the Bible, "Touch me not [for I have not yet ascended to the Father]": John 20:17. Was Rizal irreverent, even blasphemous, to liken himself to Jesus...

FENCE SITTER.
December 7, 2009... Byline: Antonio R. Samson All political contenders seem to be preaching change and bandying the word about like a charm to woo voters. After all, it worked wonders in many elections all over the world. The battle cry for change can be...

YELLOW PAD.
December 7, 2009... Byline: Sylvia Estrada Claudio Gloria Macapagal Arroyo has declared she would run for a seat in the House of Representatives. I can see it all now. Nine years from now she will be barred for a third term and will run for maybe, mayor?...

MAP query of the week.
December 7, 2009... Today's question WHAT CAN BUSINESS DO TO ELEVATE VOTERS EDUCATION TO A HIGHER LEVEL? MAP believes that the democratic process of selecting our leaders should be informed and enlightened, not driven by popularity, sentimental preferences,...

INTROSPECTIVE.
December 7, 2009... Byline: Calixto V. Chikiamco The gruesome massacre in Maguindanao underscores what I've been saying for some time: electoral reform is the mother of all reforms. It's not hard to trace the root of this massacre. The Ampatuans acted with...

BEYOND BRUSHSTROKES.
December 7, 2009... Byline: Marivic Rufino The mood of the season has been depressing and disheartening. There have been calamities and political upheavals. This Advent, we should share our blessings as we anticipate Christmas. And we should think of the...

S&P projects deficit at P272B, but sees better conditions in 2010.
December 7, 2009... Byline: Alexis Douglas B. Romero THE PHILIPPINES' breaching of its deficit cap this year should not be a major concern if the shortfall is narrowed as the economy picks up in 2010, ratings firm Standard & Poor's (S&P) said. "We...

Southeast Asian trade deal imperilled.
December 7, 2009... Byline: Jessica Anne D. Hermosa SEVERAL SOUTHEAST Asian states have warned that a regional trade pact that will put in place minimum tariff rates by start of next year may collapse if the Philippines and Thailand fail this month to resolve...

Mineral production rebounds in third quarter.
December 7, 2009... Byline: Neil Jerome C. Morales THE VALUE of mineral production rose by more than a quarter to P23.082 billion in the third quarter from year-ago levels, driven by higher metal prices and production, data from the Mines and Geosciences Bureau...

Philippines to offer concessions for late implementation of ASEAN-.
December 7, 2009... Byline: Jessica Anne D. Hermosa THE PHILIPPINES is mulling to offer South Korea further tariff cuts on certain goods to make up for the six-month delay in the former's implementation of a regional trade pact, Trade Assistant Secretary Ramon...

Conference starts move to integrate Mindanao logistics.
December 7, 2009... CAGAYAN DE ORO CITY - Mindanao's government and business sectors are pushing for a logistics corridor that will integrate key production areas and link the ports of Cagayan de Oro and Davao City, a statement of US- funded Growth with Equity in...

SUITS THE C-SUITE.
December 7, 2009... Byline: J. Carlitos G. Cruz The chief financial officer (CFO) is one of the most vital members of the C-suite. He or she is expected to be vigilant in monitoring a company's financial position, and is responsible for maintaining and...

SC voids PNCC's P6.2-B deal with Radstock (Expired franchise means.
December 7, 2009... Byline: Ira P. Pedrasa The Supreme Court has struck down the P6.185-billion compromise agreement between the Philippine National Construction Corp. (PNCC) and little-known firm Radstock Securities Ltd., for being unconstitutional and "grossly...

Rockwell Land optimistic on 2010 prospects, sees more demand from.
December 7, 2009... Byline: Kristine Jane R. Liu Lopez-led Rockwell Land, Inc. is seeing a good year for the property sector next year, joining other real estate firms in issuing a positive outlook after a turbulent 2009. "There is plenty of money around......

Napocor seeks P4 billion in bridge loans.
December 7, 2009... Byline: Jose Bimbo F. Santos State-owned National Power Corp. (Napocor) is looking to secure a P4- billion short-term loan before the year ends to finance operational expenses in providing power to off-grid areas. "We are negotiating...

IPVG sells 70% stake in mobile subsidiary.
December 7, 2009... Byline: Kristine Jane R. Liu A local investment house has acquired a majority stake in one of the units of listed information technology firm IPVG Corp. in line with a goal to expand operations in the region. In a statement sent at the...

Outsourcing firm Transcom set to open third RP site in Iloilo.
December 7, 2009... Byline: Francis Allan L. Angelo ILOILO CITY - A European business process outsourcing (BPO) firm is set to open in Iloilo City in January 2010. Duncan H. Cowie, Transcom vice-president and regional manager for North America and Asia...

Mindanao braces for decrease in investments after massacre.
December 7, 2009... Byline: Romer S. Sarmiento KORONADAL CITY - The brutal slaying of 57 people last week could diminish the investment potentials of the Autonomous Region in Muslim Mindanao and Central Mindanao, regional government economic and business leaders...

More firearms found in Maguindanao.
December 7, 2009... Byline: Romer S. Sarmiento GENERAL SANTOS CITY - Government security forces unearthed another cache of high-powered firearms and ammunition Sunday morning believed to be owned by the beleaguered Ampatuan clan, a top military official said. ...

Per pulse charging planned for landline calls.
December 7, 2009... Byline: Emilia Narni J. David Per pulse billing may soon be applied to calls from cellphones to landlines as the National Telecommunications Commission (NTC) said that it is planning to adopt the six-second-per-pulse rate scheme for...

2-day application for overseas absentee voters starts today.
December 7, 2009... Byline: Adriel M. Paglinawan The Commission on Elections (Comelec) has set a special two-day application period starting today for overseas absentee voters who plan to cast their votes on local precincts in May 2010. "There is a need to...

62 arrested in Maguindanao since Friday (AFP deputy chief wants.
December 7, 2009... Byline: Gerard S. dela Pena The tally of arrests in Maguindanao has reached 62 since martial law was imposed on the province on Friday night in the government's bid to quell an imminent rebellion by a political clan, authorities said. But...

Charges of rebellion to be filed against Ampatuan clan: DoJ.
December 7, 2009... Byline: Ira P. Pedrasa The Department of Justice (DoJ) will file the first of several rebellion charges against the Ampatuans today. In a phone interview, Acting Justice Agnes VST. Devanadera said the inquest will be done today, and the...

Military, police issue rules for conduct of martial rule.
December 7, 2009... Byline: Adriel M. Paglinawan The Armed Forces of the Philippines (AFP) and the Philippine National Police (PNP) set on Sunday guidelines for the implementation of martial rule in Maguindanao province, as they launch joint operations to arrest...

Satisfaction with gov't drops (Net score of -20 just shy of Arroyo.
December 7, 2009... Byline: Gerard S. dela Pena Satisfaction with the Arroyo administration's performance has fallen to just a point shy of its worst showing, a new Social Weather Stations (SWS) survey showed. The September poll, the results of which were...

Mixed sentiments on martial law.
December 7, 2009... Business groups are divided over the government's declaration of martial law in Maguindanao, with some welcoming it as a chance to contain "disorder" and others describing the move as bringing "more minuses than pluses." They warned of the...

Proposal to increase VAT, cut income tax under study.
December 7, 2009... Byline: Alexis Douglas B. Romero A proposal to raise taxes on consumption and reduce the levy on income is being studied by the Finance department, with the hope that this could form part of the next administration's fiscal policy. This...

More open trade to swell ranks of informal workers.
December 7, 2009... Byline: Jessica Anne D. Hermosa The ranks of the informally employed will likely swell next year partly due to short-term instability caused by further trade liberalization, International Labor Organization (ILO) officials said late last...

'Lone voice' wants to be heard in Copenhagen.
December 7, 2009... PHILIPPINE NEGOTIATORS will press rich countries to bear the heavier burden when crucial climate talks begin today in Copenhagen. Manila maintains that developing countries like the Philippines have little to do with the causes of climate...

WEEKENDER.
December 4, 2009... Byline: Sam L. Marcelo Noah Kalina is one of the poster boys of the digital-camera generation. The curly-haired 29-year-old with sad eyes has achieved minor celebrity for taking daily self-portraits of himself from Jan. 11, 2000 to July 31,...

WEEKENDER: going out.
December 4, 2009... Byline: Sam L. Marcelo BALLET The Nutcracker Ballet Philippines Dec. 4 and 5, 3 and 8 p.m.; Dec. 6, 10 a.m. and 3 p.m.; and Dec. 12, 10 a.m., 3 and 8 p.m. Tanghalang Nicanor Abelardo, Cultural Center of the Philippines, Roxas...

WEEKENDER: going out.
December 4, 2009... Byline: Jeffrey O. Valisno CONCERT "The Original" Earth Wind & Fire Live in Manila Dec. 5, 8 p.m. PICC Plenary Hall, CCP Complex, Pasay City With the successful, soldout shows of various touring bands paying tribute to their...

WEEKENDER: movies.
December 4, 2009... Byline: Noel Vera MOVIE REVIEW Planet 51 Directed by Jorge Blanco and Javier Abad Planet 51 is basically your standard-issue brightly colored mostly flavor-less computer animated 3D feature. Its one semi-clever conceit: instead of an...

WEEKENDER: movies.
December 4, 2009... Byline: Anna Gan MOVIE REVIEW Ded na si Lolo Written and directed by Soxy Topacio If there's anything writer/director Soxy Topacio wants to say with this piece, it's that death is always unexpected, bringing messy and sometimes funny...

WEEKENDER: staying in.
December 4, 2009... Byline: Johanna D. Poblete DVD REVIEW Celebration: The Video Collection Madonna Warner Bros. Records, Inc. From "material girl" to "Mrs. Richie (now divorced)" to "old whiny barmaid," the chameleon that is Madonna has maaged to...

WEEKENDER: staying in.
December 4, 2009... Byline: Jeffrey O. Valisno CD REVIEW My Christmas Andrea Bocelli Selling more than 65 million records since he emerged in the global pop scene in the mid-1990s, Italian singing sensation Andrea Bocelli has proven that his appeal goes...

WEEKENDER: staying in.
December 4, 2009... Byline: Sam L. Marcelo BOOK Umami: The Heart of Philippine Cuisine Edited by Cid Reyes Textbook illustrations of the human tongue often identify four areas of taste: the tip for sweet; the sides, salty; also on the sides but farther...

WEEKENDER: health.
December 4, 2009... Byline: Jeffrey O. Valisno Myopia, often called nearsightedness, is the ability to see the detail of close objects more clearly than those at a distance. Myopia can easily be detected by an eye doctor through a simple eye examination....