BusinessWorld (Philippines) articles from December 2009

BusinessWorld (Philippines) archives from December 2009

'Window dressing' likely on last trading day.
December 29, 2009... Byline: Jose Bimbo F. Santos Trading at the Philippine Stock Exchange was anemic movement yesterday as investors remained on holiday mode even if some were already preparing to beef up their portfolios to end the year on a better note. "It...

Posadas, Taylo pick up gold medals in PBC bowling event.
December 29, 2009... Byline: Marlon Bernardino Lara Posadas and Renz Taylo hurdle their respective rivals in the opening singles event to capture the first gold medals of the 17th Philippine Bowling Congress (PBC) National Youth Tenpin Bowling Championships...

GIVE AND GO.
December 29, 2009... Byline: Michael Angelo S. Murillo Just like in past Christmas playdates, this year's edition of the National Basketball Association Yuletide games featured the marquee names of the league. And as has been customary, said stars did not fail to...

COURTSIDE.
December 29, 2009... Byline: Anthony L. Cuaycong Phil Jackson didn't sound too worried in the aftermath of the Lakers' defeat at the hands of the Cavaliers last Saturday. In fact, the head coach remained downright confident, pointing out that one match - no...

British lawmakers patronize items produced in garbage site.
December 29, 2009... In Metro Manila, one can never run out of places to shop, from the cheap stalls in Divisoria to the posh malls in Makati. But for these British Members of Parliament (MPs), the perfect place to do their Christmas shopping is in a garbage dump...

Parco streamlines operation with SAP.
December 29, 2009... Parco Supermarket is a household name in the Philippines having been in operation for 25 years. Well-known for its friendly, simple and family- run style, the supermarket chain is a success story that Filipinos are proud of. It now has eight...

Feng Shui expert foresees roller coaster 2010.
December 29, 2009... "The coming year will be the year that Asians fear." This, according to world-renowned Feng Shui expert Marites Allen, will be one of the important indicators of 2010 or the year of the Tiger in the Chinese calendar. As part of the sneak...

CONSUMER GUIDE.
December 29, 2009... Congo Grille offering good Filipino viands Congo Grille has always been a place where the whole family is welcome since they first opened their doors in 1999. Since its inception, it has been a place synonymous to good Filipino food. Even...

BRIEFS.
December 29, 2009... Service offered Globe extends help to residents of Albay province who are affected by the eruption of Mayon volcano. Globe Libreng Tawag stations were set up to enable residents to stay in touch with family and friends during these times...

Welcoming the New Year.
December 29, 2009... One simple way to welcome in 2010 without the hassles of throwing a party of your own is to simply attend one of the hotel parties, of which there are many. Lots of food, drinks, music and fun, and you don't have to clean up later. Not a bad way...

The good, the bad and the really, really ugly (Reviews of the 2009.
December 29, 2009... Byline: Jeffrey O. Valisno MOVIE REVIEW I Love You Goodbye Directed by Laurice Guillen Dramas are rarely box office winners during the holiday season when audiences have proven every year that they would rather watch comedies and...

The good, the bad and the really, really ugly (Reviews of the 2009.
December 29, 2009... Byline: Sam L. Marcelo MOVIE REVIEW Nobody, Nobody but Juan Directed by Eric Quizon Nobody, Nobody but Juan is a giant kiss planted on the ass of Wowowee and The Filipino Channel. Written, directed, and produced by Eric Quizon,...

The good, the bad and the really, really ugly (Reviews of the 2009.
December 29, 2009... Byline: Johanna D. Poblete MOVIE REVIEW Ang Darling Kong Aswang Directed by Tony Reyes If you like Vic Sotto, then you'll like Ang Darling Kong Aswang (inside jokes with girlfriend Pia Guanio and son Oyo Boy in cameo roles packaged...

Status quo at SLEx kept, but new toll plazas may now be used.
December 29, 2009... Byline: Emilia Narni J. David Operation of the South Luzon Expressway (SLEx) remains with the Philippine National Construction Corp. (PNCC) as discussions on how to turn over the tollway to a private sector-led concession have yet to...

Atlas gets new equipment to expand Cebu operations.
December 29, 2009... Byline: Neil Jerome C. Morales Listed Atlas Consolidated Mining and Development Corp. is on track toward increasing mining capacity in its copper and gold mine in Central Visayas in 2010 following the delivery of heavy equipment. In a...

Listed AgriNurture raises P320M from sale of shares.
December 29, 2009... Byline: Neil Jerome C. Morales AgriNurture, Inc., the only agriculture firm listed on the local bourse, will secure P320 million from foreign investors by selling shares, the firm said in a disclosure yesterday. "Gem Global Yield Fund,...

Philex to miss 2009 profit goal.
December 29, 2009... The country's largest miner, Philex Mining Corp., will slightly miss profit targets for 2009 due to weak mineral production, an official said. The listed firm, however, is certain it would record another net gain this year even as performance...

Central bank to strengthen rules on banks' liquid assets.
December 29, 2009... Byline: Don Gil K. Carreon THE BANGKO Sentral ng Pilipinas (BSP) plans to come up with guidelines on the level of liquid assets banks should keep in line with its efforts to improve the current lenders' liquidity management framework. BSP...

Peso closes stronger due to remittances.
December 29, 2009... Byline: Louella D. Desiderio THE PESO posted gains against the dollar yesterday supported by weekend flows of overseas remittances. The local currency closed at P46.33 a dollar, eighteen centavos stronger than Wednesday's close at P46.51 a...

PDIC to set up help desk by next month.
December 29, 2009... Byline: Louella D. Desiderio THE STATE DEPOSIT insurer will set up a help desk facility early next year in order to introduce investors to banks which are in need of fresh funds. Philippine Deposit Insurance Corp. (PDIC) President Jose C....

Renminbi business growing, BSP says.
December 29, 2009... Byline: Don Gil K. Carreon THE BANGKO Sentral ng Pilipinas (BSP) expects greater use of renminbi among local banks as the country's trade with China grows. BSP Governor Amando M. Tetangco, Jr. told reporters last week that China's efforts...

Ayala Land seeks approval for bond sale.
December 29, 2009... Byline: Jose Bimbo F. Santos The country's largest property developer is seeking clearance from the Securities and Exchange Commission (SEC) to sell more "Homestarter" retail bonds, a home financing scheme. Listed Ayala Land, Inc. filed...

Nido Petroleum taps Houston outfit for Tindalo's drilling rig.
December 29, 2009... Byline: Jose Bimbo F. Santos Australian firm Nido Petroleum Ltd. has chosen a Houston-based company to provide the drill rig for the Tindalo field off Palawan. In a regulatory disclosure, Nido Petroleum said it had awarded a contract to...

Napocor's off-grid unit reels from competition.
December 29, 2009... Byline: Daniel Anne B. Nepumoceno Energy sales of the National Power Corp.'s (Napocor) missionary electrification arm will likely go down by more than a third in 2010 from this year's expected P2.55-billion haul, dragging further the...

Davao port wants ecozone accreditation.
December 29, 2009... Byline: Joel B. Escovilla DAVAO CITY - A port developer is seeking to convert its six-hectare industrial land here into an economic zone as it intends to pour in more money for cold-chain facilities and accommodate other locators. AJMR...

Furniture makers still wary of prospects.
December 29, 2009... Byline: Marites S. Villamor CEBU CITY - Some furniture factories here have started humming again, but exporters have remained wary, adopting a conservative outlook for 2010. Angela Figueroa-Paulin, president of the Cebu Furniture...

House not keen on power bills.
December 29, 2009... Byline: Jhoanna Frances S. Valdez Two measures seeking to lower power rates may no longer be passed in the current Congress due to opposition from the Finance department and some congressmen, a lawmaker yesterday said. Committee on ways...

State records higher debt payments in November.
December 29, 2009... Byline: Alexis Douglas B. Romero The government paid more debts as of November as it raised this year's deficit ceiling due to low revenues and higher expenditures. Treasury bureau data showed that debt service during the 11-month period...

Foreign business group no longer opposing tax plan.
December 29, 2009... Byline: Jessica Anne D. Hermosa A BUSINESS group has relaxed its opposition to congressional plans to fund storm rehabilitation efforts through the collection of taxes from large firms two years in advance. The American Chamber of Commerce...

Senior citizen discount to be preserved.
December 29, 2009... Byline: Jhoanna Frances S. Valdez Congress will approve a measure that would preserve the discount privilege of the elderly which was said to have been eroded by the value- added tax. Speaker Prospero C. Nograles said in a text message...

LET'S TALK TAX.
December 29, 2009... Byline: Conrad P. Cereno We are just two days away from lighting up our five star, Judas belt, super lolo, Roman Candle and all sorts of firecrackers. We have almost breezed through 2009 despite the global financial crisis that caused massive...

FRAMEWORK.
December 29, 2009... Byline: Elfren Sicangco Cruz People always ask me - especially those who have seen my personal library stacked three deep on six shelves covering two walls of my bedroom, one wall of my den and scattered all over the office, car trunk, and...

TO TAKE A STAND.
December 29, 2009... Byline: Rafael M. Alunan III For my year-ender, let me focus on the good things happening all around us, and the good people rising above themselves for others and country. Beneath the public's radar screens, there are tens of thousands from...

FENCE SITTER.
December 29, 2009... Byline: Antonio R. Samson To the question "where did you spend your holidays?" very few people (I personally know only of one) will say: Oh, I just stayed around at the office to catch up with my to-read files and turn down a few proposals....

MAP INSIGHTS.
December 29, 2009... Byline: Augusto L. De Leon Major business corporations use modeling as a basis for providing alternative policy options to consider and adopt. It is no different for a country. We already know that the current model from which policies are...

PHILIPPINE SILICON VALLEY.
December 29, 2009... Byline: Dennis Posadas This Christmas-New Year week, I'd like to veer away from serious technology topics and give you a sneak peak into my latest book project, a fictional business fable on clean energy and climate change. Enjoy the...

Prosecutors end probe; filing of multiple murder charge seen.
December 29, 2009... Byline: Ira P. Pedrasa State LAWYERS yesterday geared for the filing of charges against suspects in a mass murder in Central Mindanao over a month ago after terminating a probe of the incident. After two hearings, a special panel led by...

No additional survivors of sunken vessel; self-policing of ranks.
December 29, 2009... Byline: Bernard U. Allauigan and Gerard S. dela Pena Rescuers continued to scour Batangas waters where a roll-on roll-off vessel sank on Saturday night, but no new survivors have been found. At least six people were confirmed dead, 45...

Rebels pushing for Mindanao self-rule.
December 29, 2009... Byline: Darwin T. Wee ZAMBOANGA CITY - The Moro Islamic Liberation Front (MILF) has asked the government's response to Moro demand for self-rule in parts of Mindanao to form part of the final agenda in the second round of talks in Kuala...

Lesser firecracker injury: DoH.
December 29, 2009... Byline: Adriel M. Paglinawan The Department of Health (DoH) has recorded a lower number of firecracker-related injuries in the last two weeks of the year compared to the same period last year, an official yesterday said, the improving record...

Atienza quits to run for mayor.
December 29, 2009... Byline: Neil Jerome C. Morales Environment Secretary Jose L. Atienza, Jr. yesterday resigned to focus on the mayoralty race in Manila next year despite a Supreme Court ruling allowing candidate officials to stay in office until the campaign...

26,200 voting machines to arrive in two weeks.
December 29, 2009... Byline: Adriel M. Paglinawan OVER a fourth of the required number of voting machines for next year's automated elections would arrive in the country in two weeks, still within the timetable set by the Commission on Elections (Comelec). In...

Business group asks state to drop aerial spray ban policy.
December 29, 2009... Byline: Carmelito Q. Francisco DAVAO CITY - The Mindanao Business Council has asked the central government to stop moves banning aerial spraying, saying the banana industry, especially the small farmers, would not be able to cope with the...

Interfaith body put under NSC.
December 29, 2009... President Gloria Macapagal-Arroyo has put the Council of Interfaith Initiatives (CII) under the National Security Council (NSC), recognizing that interfaith initiatives are integral to security concerns. The move was under Executive Order...

'Bad' satisfaction rating stays.
December 29, 2009... Byline: Gerard S. dela Pena Net satisfaction rating of President Gloria M. Arroyo stayed "bad" in the fourth quarter, unchanged from the preceding three months, the latest Social Weather Stations (SWS) survey showed. The Fourth Quarter...

Manila proceeds with ASEAN tariff deal.
December 29, 2009... Byline: Jessica Anne D. Hermosa Malacanang has formally ordered tariffs on Southeast Asian imports to be slashed further by January 1, dispelling earlier fears that the Philippines might not implement a regional trade pact on time. ...

Mining investments miss this year's target.
December 29, 2009... Byline: Neil Jerome C. Morales Investments in the capital-intensive mining industry fell short of an already-downscaled $650-million full-year target by almost half, data from the Mines and Geosciences Bureau show. Government and industry...

Large firms ordered to keep digital files of financial data.
December 29, 2009... Byline: Alexis Douglas B. Romero Large taxpayers will be required starting January 1 to keep electronic files of records of tax-related data in a bid to fast-track the audit process of the Bureau of Internal Revenue (BIR) and improve tax...

Deal sought to cut remittance costs.
December 28, 2009... Byline: Don Gil K. Carreon The Bangko Sentral ng Pilipinas (BSP) plans to ask monetary authorities in the Middle East to allow Filipino banks to operate without going through lenders there, to reduce the cost of sending remittances home. ...

YIELD TRACKER.
December 28, 2009... Byline: Josephine B. Valle-Sison Philippine debt yields were little changed last week from month-ago levels amid muted trading as investors wrapped up their portfolios. Government securities yielded only 5.37 basis points (bps) higher on...

CHESS PIECE.
December 28, 2009... Byline: Bobby Ang The three-week chess war in Khanty Mansiysk is over. From Nov. 21-Dec. 12, with huge cash prizes available, 128 players (120 GMs and eight IMs) took part in the competition to determine the 2009 FIDE World Cup Champion. Can...

Climate change will affect RP freshwater resources - report.
December 28, 2009... A new report recently launched by Greenpeace details how climate change will severely affect the country's freshwater resources in the coming years, aggravating projected water crises, unless effective adaptation measures are urgently put in...

Peso expected to weaken vs dollar in 2010.
December 28, 2009... Byline: Louella D. Desiderio The peso is expected to weaken against the greenback in 2010 amid expectations of a US economic recovery that will allow the dollar to strengthen. The peso, currency traders interviewed last week said, could...

SM launches Global Pinoy cards for OFWs.
December 28, 2009... Overseas Filipino workers (OFWs) who are now in the country for the Christmas season can visit the newly opened Global Pinoy Center and avail themselves of SM's Global Pinoy (GPC) card to enjoy rewards, discounts and freebies from SM Supermalls...

Epson Phils. reports sales performance.
December 28, 2009... Epson Philippines Corp. reported sales growth in its various product categories as the company enters its third quarter on its fiscal year ending March 2010. Actual sales in units sold year-on-year growth from the period of April-October...

CONSUMER GUIDE.
December 28, 2009... Michelis offers sterling silver jewelries For those who want to see silver transformed into amazing pieces of jewelry and gift items, head on over to Michelis, the premiere sterling silver jewelry brand in the country. Known for excellent...

BRIEFS.
December 28, 2009... Photo series set Amateur and professional photographers must take the chance to hear and learn tips and techniques from master photographers in the educational series during Photoworld Asia 2010, the biggest and longest-running photography...

TAKE TEN.
December 28, 2009... Byline: Behn Cervantes I am beginning to tire of Christmas. No, don't get me wrong. I love Christmas. What I hate is X'mas. I love the simbang gabi, the joyous vintage carols sans the romantic and sexual inferences now prevalent in most...

The good, the bad and the really, really ugly (Reviews of the 2009.
December 28, 2009... Byline: Johanna D. Poblete MOVIE REVIEW Ang Panday Directed by Mac Alejandre and Rico Gutierrez Ang Panday (written by RJ Nuevas based on the Carlo J. Caparas' "Panday" character), like most Filipino films roundabout this time (who...

The 6th time's the charm.
December 28, 2009... Byline: Jeffrey O. Valisno MOVIE REVIEW Mano Po 6: A Mother's Love Directed by Joel Lamangan It is easy to discount the 6th installment this year of the Chinese- themed multi-generational family drama Mano Po as another ensemble...

Shaken, but not stirred.
December 28, 2009... Byline: Mira B. Gloria MOVIE REVIEW Shake, Rattle and Roll XI Directed by Rico Gutierrez, Don Michael Perez, Jessel Monteverde It's bad enough that Shake, Rattle and Roll XI is a hodgepodge of previous horror films; what's worse is...

Wadapak, man?
December 28, 2009... Byline: Sam L. Marcelo MOVIE REVIEW Wapakman Directed by Topel Lee Dear Manny "the Pacman" Pacquiao, Manny, my man, how's it going? It's been a busy year for you. On the way to becoming the first boxer to win titles in seven...

WEALTH MANAGER.
December 28, 2009... Byline: Josephine B. Valle-Sison Recommendation: SUBSCRIBE Accord Capital Equities Corp. has recommended buying new issues of First Gen Corp. given their attractive price. The power holding firm will issue 2.1 billion shares of common...

WEALTH MANAGER.
December 28, 2009... Byline: Daniel Anne B. Nepumoceno Recommendation: LONG-TERM BUY Brokerage firm Wealth Securities, Inc. has recommended a "long-term buy" on shares in San Miguel Corp. (SMC) as the beverage company's continued diversification is expected to...

WEALTH MANAGER.
December 28, 2009... Byline: Alria M. Ventanilla Recommendation: BUY/ACCUMULATE Investors are advised to accumulate shares in coal producer Semirara Mining Corp. as the stock remains relatively cheaper than any other mining stock, AB Capital Securities, Inc....

WEALTH MANAGER.
December 28, 2009... 28 December - Last day of SUBMISSION of * Quarterly summary list of sales/purchases by non-EFPS, VAT-registered taxpayers for the quarter ended Nov. 30 * Sworn statements of the manufacturers' and importers' volume of sales of each particular...

WEALTH MANAGER.
December 28, 2009... Byline: Aurelio O. Angeles More people are getting credit cards. And they are getting younger. Some get into trouble and end up finding themselves in debt. Those who are unable to pay get entangled with lawyers and call center agents. A...

Index may end 2009 within 3,000-3,050.
December 28, 2009... Byline: Don Gil K. Carreon The market will likely remain flat this week, with only two days left for trading and with investors not likely to take aggressive positions given the holiday break, analysts said. "Limited movements might ensue...

Super GM whiz kid Wesley So back in world's top 100.
December 28, 2009... Byline: Marlon Bernardino THE 365 days of 2009 are almost over but for RP's brightest hope Wesley Barbasa So, he just started his phenomenal chess career. This was after the World Chess Federation (FIDE) released yesterday the expected...

COURTSIDE.
December 28, 2009... Byline: Anthony L. Cuaycong Don't blow it, Manny. Don't junk a golden opportunity just because you feel your manhood has been threatened. When you're about to etch your name firmly in the annals of the sport as its best, pound for pound, and,...

Negotiators tapping MILF aid in release of Chinese nationals.
December 28, 2009... Byline: Darwin T. Wee ZAMBOANGA CITY - Authorities working for the release of two Chinese nationals held by bandits in Southwestern Mindanao have sought the assistance of Moro rebels, who have facilitated the Christmas Eve freedom of a...

Early ARMM voting bill rushed.
December 28, 2009... Byline: Bernard U. Allauigan THE SENATE is rushing the approval of a measure seeking to hold advanced elections in the Autonomous Region in Muslim Mindanao (ARMM), with legislators vowing to approve the measure when sessions resume in mid-...

Locals pushing watershed conservation.
December 28, 2009... Byline: Louise G. Dumas CAGAYAN DE ORO CITY - Residents of Anislagan in the town of Placer, Surigao del Norte in Northern Mindanao have symbolically started planting Anislag trees on road sides to promote watershed conservation. "In the...

At least five confirmed dead in another yuletide sea mishap.
December 28, 2009... Byline: Bernard U. Allauigan and Gerard S. dela Pena At least five people were confirmed dead and about 21 remained unaccounted for in a post-Christmas ship sinking off Batangas province south of Metro Manila Saturday night, with the...

End-Nov. state borrowings up 13% on ADB loan, bond sales.
December 28, 2009... Byline: Alexis Douglas B. Romero State borrowings rose by 13% as of end-November mainly due to the release of a program loan from the Asian Development Bank (ADB) and higher amount of domestic bond issuances, Finance department data showed....

Arroyo ready to sign SSS condonation measure.
December 28, 2009... Byline: Gerard S. dela Pena Penalties of employers with arrears in premium contributions to the Social Security System (SSS) would be condoned early next year as President Gloria Macapagal-Arroyo will soon sign into law a bill that would set...

E. Visayas rice output declines.
December 28, 2009... Byline: Sarwell Q. Meniano TACLOBAN CITY - Rice production in Eastern Visayas declined by 6.9% this year due to flooding and pest infestation, the Department of Agriculture (DA) said in its yearend report. "Despite continued interventions,...

State still firming up digital television standard.
December 28, 2009... Byline: Emilia Narni J. David THE POLICY requiring the migration to digital television has yet to be firmed up by the Commission on Information and Communication Technology (CICT) said CICT Secretary Ray Anthony Roxas Chua III, with the state...

ROOTS.
December 28, 2009... Byline: Jose S. Arcilla S.J. We traditionally celebrate the miraculous birth of God as Man on Dec. 25. Scholars do not agree why that date was chosen, but it is a deeply symbolic choice. Not all accept suggestions that the early Church...

MAP query of the week.
December 28, 2009... Today's question WHY must congress jeopardize the country's future fiscal position by funding today's rehabilitation costs and budgetary deficit with tomorrow's revenues? MAP believes that the bill filed by Rep. Danilo Suarez requiring...

CORPORATE WATCH.
December 28, 2009... Byline: Amelia H.C. Ylagan Pierce Brosnan was in a classic Roger Moore pose: an eyebrow haughtily raised, lips pursed to communicate non-communication. To be sure, it was the classic James Bond look, moulded in the image of the first "Agent...

FENCE SITTER.
December 28, 2009... Byline: Antonio R. Samson Holiday parties reflect a pecking order. They are ranked in priority (which to attend or skip) by their guest list. VIP attendance is an indicator of the host's (and his unit's) importance. Attendance, no matter how...

YELLOW PAD.
December 28, 2009... Byline: Lisandro Claudio The sesquicentennial of the Ateneo de Manila University presents an opportunity to celebrate not only the immense contribution the institution has made to Philippine society. It is also an apt time to consider what...

INTROSPECTIVE.
December 28, 2009... Byline: Calixto V. Chikiamco When one thinks about being friendly to the environment, one usually counterposes it to private property rights. Along this line of thinking, the government is for the environment and the private sector with its...