BusinessWorld (Philippines) articles from December 2009, page 9

BusinessWorld (Philippines) archives from December 2009

New arms cache found in warehouse.
December 10, 2009... Byline: Romer S. Sarmiento GENERAL SANTOS CITY - Joint police and military operatives discovered another high-powered firearms cache yesterday in a warehouse supposedly owned by suspended Maguindanao Governor Andal S. Ampatuan, Sr., a...

WB assures dev't program.
December 10, 2009... Byline: Benjamin V. Buco Jr. THE WORLD Bank (WB) would continue its development programs in Maguindanao despite the martial law declaration and security concerns, a bank official said yesterday. "We have travel restrictions [in...

Administration in position to transfer clout?
December 10, 2009... The Arroyo administration, with a local martial law declaration, is now in a position to recast political power to another clan in a beleaguered province after losing control of a risky political alliance that ended in the brutal murder of 57...

Long-term prospects dip ... but country a 'winner' so far, says.
December 10, 2009... The Philippines' long-term growth prospects have declined slightly but the country's performance in the wake of the global downturn has so far exceeded expectations, Goldman Sachs said. In a report titled "The Long-Term Outlook for the BRICs...

Jollibee drops brands in 'learning experience'.
December 10, 2009... Byline: Kristine Jane R. Liu Jollibee Foods Corp. has dropped two acquisitions - one of them finalized just this year - after both failed to meet the homegrown fastfood giant's expectations. Jollibee told the exchange yesterday that the...

Back to making Lancers in RP.
December 10, 2009... Byline: Jessica Anne D. Hermosa The local unit of Mitsubishi Motors Corp. has resumed making Lancer sedans at its Rizal plant after a six-year halt to meet demand and also to lessen import expenses, a top official said. Mitsubishi Motors...

Full-year deficit could end up near 4% of GDP.
December 10, 2009... Byline: Alexis Douglas B. Romero The budget deficit may rise to near 4% of gross domestic product (GDP) this year, narrowing slightly next year as the government struggles to raise revenues, think tank GlobalSource said. While Finance...

True (political) colors.
December 10, 2009... Why is it that with the wealth of colors available, most candidates choose reliable shades of red, yellow, and blue to distinguish themselves from the political fray? Perfectly acceptable hues like aubergine, chartreuse, and periwinkle are free...

Investors dump stocks, cash in more gains.
December 9, 2009... Byline: Kristine Jane R. Liu Share prices fell again yesterday, tracking the lackluster performance of overseas markets, analysts said. The benchmark Philippine Stock Exchange index (PSEi) lost 1.13% or 34.56 points to 3,012.07, while the...

COURTSIDE.
December 9, 2009... Byline: Anthony L. Cuaycong Allen Iverson got exactly what he wanted in his first game off "retirement" yesterday. He was introduced as a member of the starting lineup, played nearly 38 minutes, and would most probably have burned rubber even...

GIVE AND GO.
December 9, 2009... Byline: Michael Angelo S. Murillo Middling for the most part of the first round of the eliminations, the Purefoods TJ Giants it seems have now found their groove in the ongoing Philippine Cup. Of late, the Giants are playing steady basketball...

14 local gov't programs cited.
December 9, 2009... Galing Pook Foundation conferred 14 local government units this year with citations for outstanding local governance programs. The awards are annually bestowed to only 10 programs, but 2009 was deemed a banner year for good governance by the...

Nissan Navara Krome limited edition launched.
December 9, 2009... Following the widely successful and raved about pickup that hit Philippine shores early last year, the Nissan Navara Sport Utility Truck Krome Limited Edition rolls out in time for the holidays. Unwrap the first and only sport utility truck...

Visa cardholders to win Toyota Altis cars.
December 9, 2009... Until February 2010, Visa cardholders have a chance to win one of three Toyota Altis cars by simply using their Visa cards. For every purchase made with a Visa Credit or Visa Debit card, cardholders will receive an electronic raffle entry...

CONSUMER GUIDE.
December 9, 2009... Pancake House introduces Christmas treats You don't have to wait for Noche Buena to enjoy Christmas treats that come only once a year - specifically, only one night every year at that. Every day this holiday season can be a time to savor...

BRIEFS.
December 9, 2009... Sale announced GE Appliances continues its annual warehouse sale that offers appliances up to 50% discount. The sale includes Class B appliances that are either display units, with torn packaging or without boxes but are unused and in perfect...

SPECIAL FEATURE: Taguig 5th Cityhood Anniversary.
December 9, 2009... Now on its fifth year as a city, Taguig seems well on its way to becoming an urban model for the rest of the country. From its agricultural background, Taguig City has evolved into one of the country's most forward-moving urban centers. The...

SPECIAL FEATURE: Taguig 5th Cityhood Anniversary.
December 9, 2009... Civic and Convention Center On the city's drawing boards is the Taguig Civic and Convention Center, which will stand on a 3.5-hectare prime lot in Fort Bonifacio. The development will feature a world-class trade hall, convention center,...

SPECIAL FEATURE: Taguig 5th Cityhood Anniversary.
December 9, 2009... BANNER YEAR The past two years were a banner period for Taguig City. It received two Green Banner and Galing Pook Awards, along with a Green Retail Award for its water lily project. It was also declared by the World Bank as the "best place to...

SPECIAL FEATURE: Taguig 5th Cityhood Anniversary.
December 9, 2009... THE BLUE MOSQUE The Blue Mosque in Barangay Maharlika serves as a socio-civic meeting point for both Filipino and foreign Muslims. Designed by architect Angel Nakpil, it houses a conference room, three madrasa classrooms, a library, a clinic...

SPECIAL FEATURE: Taguig 5th Cityhood Anniversary.
December 9, 2009... Balut A balut is a duck egg incubated and cooked, ideally 17 days after it was laid. It is boiled and eaten by cracking the shell, sipping the juice, and eating the underdeveloped chick inside. It is a popular local streetfood, especially in...

Folding steel.
December 9, 2009... Byline: Sam L. Marcelo The rational functionalism of the Bauhaus school of design in Germany, the pure abstraction of De Stijl art in the Netherlands and the timeless simplicity of Coco Chanel's Little Black Dress were all born during the...

ONSTAGE.
December 9, 2009... Byline: Juan Antonio Lanuza Repertory Philippines has announced the lineup of plays for its 73rd Season in 2010. The first play, Peter Quilter's romantic comedy Duets, will open on Jan. 15. Ana Abad Santos directs Joy Virata and Miguel...

ART & CULTURE.
December 9, 2009... Liongoren holds benefit show Liongoren Gallery, in partnership with Operation Blessing Foundation Inc., presents Unos at Banaag (Storm and Ray of Hope) a benefit art show for the victims of typhoon Pepeng in Pangasinan. The exhibit is the...

Exploiding Silence.
December 9, 2009... Byline: Sam L. Marcelo It took artist-photographer Isa Lorenzo four years to slog through 20 pages of a Haruki Murakami novel while muddling through life here in the Philippines but finding herself cocooned in the suffocating silence of...

BSP receptive to retailers as mobile money conduits.
December 9, 2009... The Bangko Sentral ng Pilipinas (BSP) is open to allowing third parties such as retail outlets to act as mobile money transfer agents so Filipinos without immediate access to banks could still have access to simple financial services. "We are...

Peso slumps after rising to 15-month high.
December 9, 2009... The peso closed weaker against the dollar yesterday after reaching a 15-month high during the morning trade. The peso closed at P46.05 a dollar, down slightly from P46.10 on Monday. The peso reached P45.85 per dollar during trading, the...

Interim Visayas power supply scheme nears rollout.
December 9, 2009... Byline: Marites S. Villamor CEBU CITY - The Energy Regulatory Commission (ERC) has resolved issues on pricing and cost recovery for a supply augmentation program in the Visayas, bringing the scheme a step closer to implemention through the...

LET'S TALK EUROPE.
December 9, 2009... Byline: Henry J. Schumacher The US dollar falls, the euro rises and gold booms - symptoms which indicate that this global financial and economic crisis is far from over. The crisis only reaches new levels. It began with the real estate crash,...

Faster farm growth seen.
December 9, 2009... Farm production growth will be faster next year at 3%-4% from 0%-1% this year, driven by recovery of crops from storm damage as well as higher consumption due to stronger purchasing power backed by election spending, the University of Asia and...

Not yet a threat, but ...
December 9, 2009... China's improving English proficiency may not yet pose a threat to the local business process outsourcing (BPO) sector, but a British Council report last month showed there may now be more English speakers there than in India, the Philippines'...

Still limited to English.
December 9, 2009... The call center sector will grow 15%-20% next year, Call Center Association of the Philippines Pres. Benedict C. Hernandez said in a news briefing. He said English-based voice services will still be the growth driver, noting few agents can speak...

Seaweed processors scramble for supplies.
December 9, 2009... Byline: Marites S. Villamor CEBU CITY - Philippine seaweed processors will push for measures to boost local seaweed production and tap other countries as potential suppliers, following Indonesia's decision to restrict its raw seaweed exports....

2009 car sale target in the bag.
December 9, 2009... THE LOCAL AUTOMOTIVE industry continued to post a turnaround in car sales a month before the year, earlier fraught with declining sales, comes to a close. Sales of new automotives from January to November grew by 3.7% to 118,848 units over...

AD LIB.
December 9, 2009... Byline: Greg B. Macabenta Gloria Macapagal-Arroyo, president of the Republic of the Philippines, has decided to run for the congressional seat in her home province currently occupied by her son. Because political positions in the Philippines...

CAPITAL VIEW.
December 9, 2009... Byline: Mercedes B. Suleik One can feel the nippy air and Christmas songs are blaring everywhere. A countdown to Christmas day is announced every day over the radio, and people are being urged to hurry up and do their shopping. The holiday...

CORE.
December 9, 2009... Byline: Benjamin E. Diokno Public dissatisfaction with the Arroyo administration continues to rise, according to the third-quarter survey of the Social Weather Stations (SWS). The latest negative 20% net satisfaction rating of the national...

GRASSROOTS & GOVERNANCE.
December 9, 2009... Byline: Teresa S. Abesamis Again we have landed through dramatic media coverage on the world's stage, almost simultaneously showing the best and the worst that we as a people are capable of. Efren Penaflorida and Andal Unsay Ampatuan, juniors...

Telcos not following new billing scheme (Regulators ask Globe, Smart.
December 9, 2009... Byline: Emilia Narni J. David Claiming "technical difficulties," telecommunication firms have yet to comply with an order to switch to a new billing system for mobile phone calls starting Sunday, but regulators are not about to impose...

Construction of wind farm in Aparri to start by 2011.
December 9, 2009... Byline: Jose Bimbo F. Santos Northwind Power Development Corp. is planning to start construction for a 40-megawatt (MW) wind farm in Aparri, Cagayan by 2011, expanding outside Ilocos Norte for the first time. "That's the idea, to start...

Profits lifted by one-time gains.
December 9, 2009... Byline: Kristine Jane R. Liu The combined net income of listed firms grew by 60.8% from January to September as a result of one-time gains, which include the entry of foreign investors in select companies. In a statement yesterday, the...

Benguet financing deal with China's MinMetals 'void'.
December 9, 2009... Byline: Neil Jerome C. Morales The owner of the Kingking gold and copper mine in Southern Mindanao said yesterday the financing agreement between listed Benguet Corp. and a Chinese miner involving the project was void. In a Dec. 7 letter...

First Gen hikes authorized capital ahead of share sale.
December 9, 2009... Lopez-led First Gen Corp. has received clearance from the Securities and Exchange Commission (SEC) to more than double its authorized capital, under a plan to raise as much as P15 billion from the sale of shares. In a disclosure yesterday,...

Chemical firm gets boost from storm rehab; sees faster growth next.
December 9, 2009... Byline: Jessica Anne D. Hermosa The local subsidiary of American chemical firm NCH Corp. expects to post growth this year and buck the downtrend among Asian peers partly due to demand for industrial cleaning supplies after the devastation...

All-new Tucson launched.
December 9, 2009... Byline: Arnold E. Belleza The animatronic pegasus - okay, it was just a suspended, full-size puppet - may have been a bit cheesy but Gary Valenciano sure wasn't: Mr. High Energy spared no effort in adding pep to Monday night's introduction of...

NOT SO FAST.
December 9, 2009... Byline: Tito F. Hermoso Close to nine years ago, with a Philippine market recovering from the Asian financial crisis, BMW AG of Munich established a local outpost. It was a welcome vote of confidence and soon the BMW brand resumed its journey...

Myth buster.
December 9, 2009... Byline: Tito F. Hermoso Long established beliefs are upended and new paradigms take time to accept but then we get used to them. For most established businesses, a steady, mature mind rather than a maverick is the kind stockholders prefer....

Briefs
December 9, 2009... Toyota center opened The University of the Philippines (UP) and Toyota Motor Philippines Corporation recently inaugurated the GT-Toyota Asian Cultural Center in Diliman, Quezon City. The center is the fulfillment of the P100-million donation...

Supreme Court withholds stay order on martial law.
December 9, 2009... Byline: Ira P. Pedrasa and Joel B. Escovilla THE DECLARATION of a state of martial law in most of Maguindanao province has steered clear of a stay order sought from the Supreme Court (SC). In a press conference yesterday, SC deputy...

Congress Holds Joint Session to Tackle President's Report
December 9, 2009... Byline: Bernard U. Allauigan CONGRESS WOULD meet in joint session today to discuss the Maguindanao martial law proclamation, setting rules that would govern discussions to either revoke or uphold the declaration. Senate Majority Leader...

State troopers closing in on militia.
December 9, 2009... Byline: Bernard U. Allauigan and Romer S. Sarmiento GOVERNMENT TROOPS are slowly closing in on more than 1,000 civilian volunteer organizations (CVOs), most of whom are supporters and sympathizers of the Ampatuan clan who were allegedly...

Governor unseated.
December 9, 2009... THE COMMISSION on Elections yesterday unseated Isabela Governor Maria Gracia Cielo M. Padaca and installed Benjamin G. Dy as governor after a recount of the results of the 2007 elections. The second division, chaired by Commissioner Nicodemo T....

Crackdown set.
December 9, 2009... THE MILITARY will go after 132 politically linked militia groups, acting Defense Secretary Norberto B. Gonzales yesterday said. About 10,000 men constitute the "politically connected armed groups," majority of whom are in Mindanao, Mr. Gonzales...

Bonuses assured.
December 9, 2009... NATIONAL GOVERNMENT workers will be given productivity bonuses in time for the holiday season. The exact amount to be provided to more than one million government workers, however, has yet to be determined, Budget Secretary Rolando G. Andaya,...

BIR wins cases.
December 9, 2009... The Bureau of Internal Revenue (BIR) has obtained favorable court decisions in two cases against erring taxpayers. In a statement, the tax bureau said it won two tax evasion cases last month under its Run After Tax Evaders (RATE) Program,...

P320-billion deficit possible.
December 9, 2009... Byline: Alexis Douglas B. Romero The budget deficit may hit P320 billion this year, more than initially forecast, as expected asset sale revenues will likely not materialize, a senior Finance official yesterday said. "It is possible that...

House Think Tank Urges Legislators to Reconsider Nine Revenue-Eroding
December 9, 2009... The House of Representatives' think tank has recommended that Congress defer action on several revenue-eroding measures, noting the likelihood of a P300-billion deficit for the year if current collection efforts fail to improve. In a letter...

Tax Perks Proposed for Free Legal Assistance
December 9, 2009... Lawyers who offer free legal assistance will be eligible for tax incentives under a proposal filed at the House of Representatives. The still-unnumbered substitute to House Bills 4910, 4301, 6291, 5621, and 5572 aims to uphold the Supreme...

No urgent need for exit strategy implementation.
December 9, 2009... Byline: Don Gil K. Carreon There is no urgent need to unwind monetary stimulus meant to help the economy weather the global recession, Bangko Sentral ng Pilipinas (BSP) Governor Amando M. Tetangco, Jr. yesterday reiterated. With his deputy...

Economic Indicators.
December 9, 2009... Byline: Ma. Aizl Camille B. Cabarles It makes sense for one to argue that there exists a romance between prices of goods at the producers' end and the costs actually shouldered by consumers. Economists agree that any movement in the...

Martial law declaration turns off investors.
December 8, 2009... Byline: Kristine Jane R.Liu The disquiet created by President Gloria Macapagal-Arroyo's declaration of martial law in Maguindanao turned investors away from the stock market yesterday, analysts said. The benchmark Philippine Stock Exchange...

GIVE AND GO.
December 8, 2009... Byline: Michael Angelo S. Murillo With the core of their '08-'09 Fiesta Conference championship team intact and boosted by some quality additions even, the stature of the San Miguel Beermen as a "stud" team is unquestionable. That despite the...

COURTSIDE.
December 8, 2009... Byline: Anthony L Cuaycong It's hard to fault longtime National Basketball Association followers for being overcome by a sense of deja vu after news of Greg Oden's latest mishap broke the other day. After all, they had been witness to Bill...

Makati Chess Club Team B captures first national inter-club rapid.
December 8, 2009... Byline: Marlon Bernardino THE Makati Chess Club Team "B" turned back Pasig Chess Club (3-1) in the seventh and final round to capture the 1st National Inter-Chess Club Rapid Team Championship title on Sunday at the Local Water Utilities...

Rural folk embrace technology with IT project of Labor dep't.
December 8, 2009... Following the nationwide implementation of Kabataan-ITO project of the Department of Labor and Employment (DoLE), about 2,500 disadvantaged workers including senior citizens, farmers, out-of-school youth and women workers in rural areas have...

Sync Property software applies system in real estate industry.
December 8, 2009... Specifically designed for the use of real estate business developers and managers, Sync Property computer software incorporates technology in property management. The Sync Property system program does away with manual billing and puts in...

MIAA inks agreements with airport agencies.
December 8, 2009... Following the successful ISO certification of Ninoy Aquino International Airport (NAIA), the Manila International Airport Authority (MIAA) takes the next step as it signed the service level agreements with 13 airport agencies. The signing...

CONSUMER GUIDE.
December 8, 2009... The Farm offers detoxification programs Rediscover the body's natural process of eliminating toxins with the detoxification programs of The Farm, Asia's Center of Excellence for Holistic Health situated amid the lush vegetation of Lipa City,...

BRIEFS.
December 8, 2009... Charity walk set Alay Lakad gears up once again expecting a multisectoral show of support for the continuing education of Negrense out-of-school youth. Now on its 37th year, Alay Lakad 2009 with the theme "Lakad Kabataan Ituloy and Kaunlaran"...

Pacquiao match topped ratings in Nov. (News shows led weekday TV.
December 8, 2009... Byline: Jeffrey O. Valisno After being shut out in the national ratings race for weekends in October, GMA Network topped the national weekend ratings list last month thanks to boxing superstar Manny Pacquiao. The network's Nov. 15 telecast...

BPI asset group to offer PERA.
December 8, 2009... Byline: Louella D. Desiderio The asset management and trust group of Ayala-led Bank of the Philippine Islands (BPI) yesterday said it will add PERA accounts to its product offerings next year. Maria Theresa M. Javier, senior vice president...

Peso weakens as dollar gains on labor data.
December 8, 2009... Byline: Louella D. Desiderio The peso fell against the dollar yesterday following the weak performance of other currencies against the greenback. The local currency shed 10 centavos to close at P46.10 per dollar. It opened at a weaker...

Bank earnings fall in the third quarter as economy slows.
December 8, 2009... Byline: Daniel Anne B. Nepomuceno Listed Philippine banks' income from lending operations in the third quarter tracked the slowdown in the economy, despite the low-yield environment that should have encouraged credit activity. Fourteen of...

Visayas to wait two more years for WESM.
December 8, 2009... Byline: Jose Bimbo F. Santos COMMERCIAL OPERATION of a power spot market in the Visayas will have to wait two more years, the chief of the system's operator said. "Probably in the next two years," Melinda L. Ocampo, president of the...

Power shortage the price to pay for growth.
December 8, 2009... Byline: Marites S. Villamor CEBU CITY - For investment promotions specialist Joel Mari S. Yu, the power problem in the Visayas boils down to a choice between promoting economic growth and having enough power supply. "Why do we have a power...

Forex reserves hit $43.73B in Nov. - BSP.
December 8, 2009... THE COUNTRY's foreign exchange reserves inched up by $558 million from October to hit a record $43.73 billion by end-November, data the Bangko Sentral ng Pilipinas (BSP) released yesterday showed. "The continued build-up in the GIR [gross...

BPI says polls, remittances to drive growth.
December 8, 2009... AYALA-LED Bank of the Philippine Islands (BPI) expects gross domestic product (GDP) growth this year and next to be faster than government estimates, driven by strong overseas remittance inflows and election spending. Maria Theresa M. Javier,...

LET'S TALK TAX.
December 8, 2009... Byline: Olivier D. Aznar Less than a month is left in the calendar year 2009, and corporate taxpayers are in the process of assessing their tax dues. In the usual chronology of events, the books of taxpayers, whose accounting period is a...

FRAMEWORK.
December 8, 2009... Byline: Elfren Sicangco Cruz This week, after two decades of failed efforts to tackle climate change, the world is meeting in Copenhagen to again try and have a global agreement to limit and reduce greenhouse gas emissions. The importance...

TO TAKE A STAND.
December 8, 2009... Byline: Rafael M. Alunan III From Nov. 30-Dec. 7, 1989, the country was gripped by a coup attempt that almost succeeded. It was a coup launched by several rebel military groups - RAM-SKP-YOU - with differing persuasions and agenda. I was on...

FENCE SITTER.
December 8, 2009... Byline: Antonio R. Samson Any visit to a library, even if it is in another country, say, the New York Public Library, brings back to me memories of school, even though the time when library and book report were used together in the same...

MAP INSIGHTS.
December 8, 2009... Byline: Management Association of the Philippines The members of the Management Association of the Philippines (MAP) join others in the business community in expressing their deep concern over the imposition of martial law in Maguindanao. ...

MAP query of the week.
December 8, 2009... Today's question WHAT CAN WE DO TO ENHANCE OUR RESPECT FOR HUMAN LIFE? As a people, we seem to have lost basic respect for human life. A simple case in point - we do not even seem to care for the safety of our pedestrians. Our sidewalks...

AGENDA FOR HOPE.
December 8, 2009... Byline: Maria Eufemia C. Yap To many Filipinos, access to health care - usually associated with the availability of a trained, licensed physician - remains an illusion. This chronic problem has been attributed to many factors, foremost among...