BusinessWorld (Philippines) articles from February 2000, page 5

BusinessWorld (Philippines) archives from February 2000

ERB appeals to Supreme Court on Meralco decision.
February 23, 2000... Government lawyers yesterday said the Supreme Court (SC) should compel the country's biggest power distributor to refund over P11.3 billion it allegedly overbilled its 3.1 million consumers from 1994 to 1998. The Office of the Solicitor...

Market drop 'a regional trend' - Malacanang.
February 23, 2000... Malacanang yesterday downplayed as a regional trend last Monday's drop in the Philippine Stock Exchange composite index (Phisix) and not due to loss of investor confidence in the country. "It's (happening) not only in the Philippines, but...

'First-termers' hold meet.
February 23, 2000... Neophyte congressmen were set to meet at the Hotel Rembrandt in Quezon City last night to consolidate their ranks and establish themselves as a power bloc in the House of Representatives. Ilocos Norte Rodolfo C. Farinas, the meeting's...

DoJ mulls recall of Manero pardon.
February 23, 2000... The Department of Justice (DoJ) may recommend to Malacanang the recall of President Joseph Estrada's conditional pardon of murder convict Norberto Manero, Jr. last December. This was learned yesterday from Justice Undersecretary Ramon...

Tariff-free rice importation approved by Malacanang?
February 23, 2000... The National Food Authority (NFA) will bring in this year's 131,000-metric-ton minimum access volume (MAV) for rice tariff-free. The MAV, which varies per farm product, is the least volume of imports that the country will allow at low...

Lack of confidence again sinks mart to 14-mo. low.
February 23, 2000... In times like these, it is with half a heart that traders manage to "trade" puns on the stock market. Traders halfheartedly made light of the persistent lack of confidence in the stock market, referring to the drop as a late Valentine or...

Automating 2001 elections.
February 23, 2000... A Commission on Elections (Comelec) official admitted yesterday that the May 14, 2001 senatorial and local elections would be only partially automated or computerized. Comelec commissioner Luzviminda Tancangco said with partial automation,...

Rebel attack on Army post.
February 23, 2000... Leftist rebels attacked last Monday an Army detachment in Rodriguez, Rizal, injuring one soldier. A report from the Armed Forces Southern Luzon Command shows communist rebels attacked the Task Force Panther detachment in Bgy. San Isidro at...

Short-listing of SEC chief.
February 23, 2000... The Financial Executives Institute of the Philippines (FINEX) is urging Malacanang to consult the private sector in the selection of a new Securities and Exchange Commission (SEC) chairman. "With the Securities Act still not passed into law...

EDSA partial closure today.
February 23, 2000... White Plains Avenue from EDSA to Zebra Drive will be closed to vehicular traffic from 9 a.m. until 6 p.m. today in line with preparations for the EDSA People Power 14th anniversary celebration on Friday. EDSA's northbound lane in front of the...

De Jesus vacates post on March 1.
February 23, 2000... Presidential Management Staff (PMS) chief Leonora Vasquez-de Jesus will leave her Palace post to become Housing and Urban Development Coordinating Council (HUDCC) chairman and presidential adviser for housing effective March 1. As HUDCC...

DPWH to seek Congress' okay on pet projects at district level.
February 23, 2000... A Department of Public Works and Highways (DPWH) memorandum is now sowing confusion among lawmakers on the extent of their participation in identifying projects under this year's budget. This was after Public Works assistant secretary...

Senate okays bill banning tobacco ads, smoking in public places.
February 23, 2000... The Senate passed on second reading yesterday the bill that seeks to regulate and subsequently ban the advertising of cigarettes and other tobacco products. Senator Juan M. Flavier's Senate Bill No. 1554, or the proposed STOP (Stop...

Philippine Stock Exchange as of February 22, 2000.
February 23, 2000... Stocks Volume High Low Close BANKS & FINANCIAL SERVICES Banks Asiatrust Dev. Bank 7,100 10.25 10.25 10.25 Bank of P.I. 394,700 98.5 96.5 96.5 China Banking 118,320 800 780 800 Chinatrust Comm. Bank 2,000 9 9 9 ...

Alcatel teams up with AFP to deliver WAP-based news.
February 22, 2000... CANNES - Alcatel and Agence France-Presse (AFP) have concluded a partnership agreement to distribute information services to the new Internet-enabled devices now coming to market. These include WAP-enabled mobile phones, personal digital...

COURT SIDE: Dennis Rodman's crowd-drawing power.
February 22, 2000... You've got to hand it to Mark Cuban. Even as his purchase of the National Basketball Association franchise in Dallas has yet to be formally approved by the league front office, he has seen fit to embark on what may yet be his most ambitious...

Executive chess' 8th leg kicks off at LBP Makati.
February 22, 2000... As the 2000 Philippine Executive Active Chess Express (PEACE 2000) goes into the eighth leg on Feb. 26 at Land Bank of the Philippines' (LBP) Multi-Purpose Hall in Makati City, different leg winners has so far emerged in the Premiere section....

Will the PBA have another banner year?
February 22, 2000... The 26th season of the Philippine Basketball Association (PBA) kicked off to a rousing start over the weekend with a star-studded show at the refurbished Araneta Coliseum. With a new consortium composed of Vintage, Argosy and Viva IMG now...

IM Mark Paragua, 15, eyes grandmaster title in two years.
February 22, 2000... Against odds that would have made many buckle under pressure, Mark Paragua has succeeded in becoming the country's youngest International Master. His next target: to be a grandmaster within two years. "I know that I can do it. Playing...

Chess Piece: Junior 6 - The strongest chess program!
February 22, 2000... "What is the strongest chess program currently available?" is a question I frequently encounter during my computer-chess lectures. This author, of course, is well known for his head-strong opinions, but in order to maintain a semblance of...

New EDSA book out.
February 22, 2000... For the first time, the historic events that took place during the EDSA Revolution are chronicled in Filipino. The Foundation for Worldwide People Power Inc. is coming out with Himagsikan sa EDSA, a 250-page look at the people power revolt as...

UP Sigma Delta holds benefit ball.
February 22, 2000... The UP Sigma Delta Phi Society will hold a Benefit Ball at the pool side of the Seven Suites Hotel-Observatory along Sumulong Highway in Antipolo on Feb. 26, 6 p.m. Sigma Deltans from both UP Diliman and Los Banos are invited to attend the...

BSP Reference Rates as of February 21, 2000.
February 22, 2000... Equivalent Equivalent Equivalent of foreign of US$1 of foreign currency in in foreign currency in Currency US Dollar currency RP peso Convertible currencies with BSP US dollar 1.000000 1.000000 40.629000 Japanese yen 0.009014...

PESO Cross Rates as of February 21, 2000.
February 22, 2000... one unit Phil Aussie Bahrain Cndn French of currency peso dollar dinar dollar franc Philippines 1.0000 0.0391 0.0093 0.0357 0.1638 Australia 25.5753 1.0000 0.2373 0.9129 4.1886 Bahrain 107.7750 4.2140 1.0000 3.8469 17.6510 ...

Paranaque court orders Filart release from jail.
February 22, 2000... The Paranaque City Regional Trial Court ordered yesterday the release from jail of a namesake of one of the suspects in the Vizconde massacre case. Paranaque judge Amelita G. Tolentino ordered the freeing of 29-year-old Joey Filart at...

US ship carrying troops to dock in Manila today.
February 22, 2000... A United States landing ship carrying almost 800 US troops is expected to arrive in Manila today to participate in military exercises in the country. The USS Fort McHenry - which is based in Sasebo, Japan - will be bringing 26 naval...

Rod Reyes wants to stay on as press secretary.
February 22, 2000... "I want to continue serving the President." Thus said yesterday Press Secretary Rodolfo T. Reyes in reaction to reports that President Joseph Estrada was looking for a new press chief. Mr. Reyes reported to work yesterday after a...

Rift over budget harming Malacanang-Congress ties.
February 22, 2000... The Estrada administration will have to act swiftly, albeit carefully, in resolving its disagreement with the Legislature on the 2000 national budget if it wants to avoid any future negative effect. Socioeconomic Planning Secretary Felipe...

$1-B foreign loans coming in upon approval of energy law.
February 22, 2000... The Department of Finance yesterday said it expects up to $1 billion in fresh loans from several multilateral lending agencies with the expected passage of the proposed omnibus energy law in May. Finance Secretary Jose T. Pardo told...

Demand for oil products down in '99.
February 22, 2000... Competition among the old and new companies in the oil industry is getting stiffer as the country's demand for oil products dwindles. Philippine Institute of Petroleum, Inc. (PIP) records showed that sales volume dropped 4% to 130.146...

SEC probe into price rigging to take a year.
February 22, 2000... Securities and Exchange Commission chairman Perfecto R. Yasay, Jr. may step down from office without seeing the end of the investigation of what has become the most controversial stock market scandal, the alleged price manipulation in the...

DoF to focus on 'tax angle' in own probe.
February 22, 2000... Adding another twist to the BW Resources Corp. issue, the Department of Finance (DoF) yesterday said it will pursue a "tax angle" to determine if participants in the BW Resources Corp. fiasco evaded paying taxes. Finance Secretary Jose...

Coconut groups restive; policy on levy stalled.
February 22, 2000... Weary and disappointed, coconut farmers are now considering nationwide protests if Malacanang failed to release next month a long-awaited executive order that will establish a trust fund for the coconut industry. Malacanang is currently...

Delay rate increase, group asks Meralco.
February 22, 2000... Private sector-led Consumer and Oil Price Watch is requesting the Manila Electric Co. (Meralco) to hold off its rate increase to May, saying this is too much for the consumer to bear at this point. In a telephone interview yesterday,...

T-bill rates, peso under pressure as marts await US rate hike.
February 22, 2000... Market anticipation of an increase in US interest rates next month and a higher local inflation rate are putting pressure on both the foreign exchange and interest rates, money market players interviewed by BusinessWorld said. At the...

Philippine Stock Exchange as of February 21, 2000.
February 22, 2000... Stocks Volume High Low Close BANKS & FINANCIAL SERVICES Banks Asiatrust Dev. Bank 12,600 10.5 10.5 10.5 Bank of P.I. 490,500 102 98 98.5 China Banking 2,560 810 800 800 Equitable Banking 852,500 71 69 69 Far East Bank 12,700...

Down South: Mining, flooding down south.
February 22, 2000... DAVAO CITY - Early last week, a friend engaged in the business of supplying materials for miners said the government has finally decided to lift the mining ban in Diwalwal. This was confirmed over the weekend by a local news-paper report...

N. Mindanao 'killing fields' probe.
February 22, 2000... President Joseph Estrada ordered yesterday the police and the military to identify the persons responsible for two "killing fields" in Northern Mindanao. The two fields yielded remains of communist rebels and their supporters executed during...

Food congress in General Santos.
February 22, 2000... GENERAL SANTOS CITY - About 1,000 people are expected to participate in the two-day Second Mindanao Food Congress, which will open here on February 24. Congress participants will be mainly people involved in agricultural and food production,...

Two buses plunge into ravine in Cebu island.
February 22, 2000... CEBU CITY - Two passenger buses figured in separate accidents over the weekend, with one going off the road in Tabogon while another similarly plunging down a ravine in Oslob. One person was killed while over 40 people were injured,...

MILF tells gov't to choose: Talk peace or resume war.
February 22, 2000... Moro rebels want the government to choose between settling the decades-long conflict in Mindanao either through peace negotiations or armed struggle. In a telephone interview yesterday, the Moro Islamic Liberation Front (MILF) also...

The EuroConsumer: Mane event.
February 22, 2000... The door opens and she walks in, taking long strides in her three-inch boots. Her silky blond hair sweeps her baby blue cashmere sweater, reflecting the pristine sky in her eyes. My Swedish friend Brit evokes this impression up to this...

Framework: My journey to EDSA.
February 22, 2000... EDSA's place in Philippine history has become as symbolic and meaningful as other events like the Cry of Balintawak and the declaration of Philippine independence. But sometimes we forget that these events are culminations of many other...

To Take a Stand: Conduct unbecoming.
February 22, 2000... Some days back, Sen. Tessie Aquino-Oreta was quoted in the papers as defending the President's "sacking" of Justice Secretary Serafin Cuevas. According to the news reports, although new information revealed that Cuevas had nothing to do with...

Fence Sitter: Old hat.
February 22, 2000... It seems fashionable now for public figures or their spokespersons to treat any persistent criticism, no matter how valid, as "old hat." The argument rests on the supposition that if charges have been made before, they need not be...

Dear Editor: Small business "turmoil" denied.
February 22, 2000... I am writing in connection with your series of three front-page, lengthy articles concerning the "turmoil" at Small Business Guarantee and Finance Corp. (SBGFC), the government agency mandated to look after the small and medium enterprises...

Calling a Spade...: Mistreating citizens.
February 22, 2000... A couple of news reports over the weekend betrays the state of political and economic governance in this country, and the improvements that must be made if we are to get on the path of sustained economic and social development. The first is...

Dear Editor: A wife's appeal.
February 22, 2000... I am a mother of five children and wife of a political detainee. That political detainee is Leoncio Pitao, known to many as "Ka Parago Sandoval." He was arrested by agents of the 73rd IB and Military Intelligence Group (MIG) on the night...

Dear Editor: Abad commended.
February 22, 2000... As an energy consumer, I commend Batanes Rep. Butch Abad for clarifying the more important issues involved in the proposed privatization of the National Power Corp. He clearly exposed the political quackery of some of his peers in the Lower...

Dear Editor: A coward's way.
February 22, 2000... A coward... that's how to describe President Estrada. He singled out Manero for a special pardon five days before the BPP recommendation. So how can he say that he has no knowledge of Manero's name being included in the list? A...

Seafarers' protection promoted by DoLE.
February 22, 2000... The Department of Labor and Employment (DoLE) yesterday expressed its commitment to actively pursue the Philippines' compliance with the 1978 International Convention on Standards of Training, Certification and Watchkeeping for Seafarers...

NFA waiting for higher sugar prices, resets auction of stocks.
February 22, 2000... The National Food Authority (NFA) has moved to March its auction for the export of 40,000 metric tons (MT) of sugar stocks following the declaration of another failed bidding last Thursday. The 40,000 MT comprise the NFA's second tranche...

House committee readying findings on disputed port privatization plan.
February 22, 2000... The House committee on transportation and communications is set to come up with its report on the bill amending Presidential Decree 505 or the charter of the Philippine Ports Authority (PPA). The committee report and the substitute bill...

... as SSS slams Malacanang order.
February 22, 2000... The statement was issued amid concerns from state-owned Social Security System (SSS) that the EO will undermine its charter, corporate structure and policy independence. The SSS earlier expressed its support for the move, but made a complete...

Yuchengco bucks entry of more foreign insurers.
February 22, 2000... The life insurance industry should not be further opened up to foreign competition, former Ambassador Alfonso T. Yuchengco, considered as patriarch of the Malayan Insurance Co., recently said. His statement came on the heels of the...

Co-ops to sit in Landbank.
February 22, 2000... The House of Representatives recently passed on second reading a bill which mandates the representation of cooperatives in the board of state-owned Land Bank of the Philippines (Landbank). In a statement, House Speaker Manuel B. Villar...

Banks dump bonds; auditors more confused.
February 22, 2000... Banks dumped long-term bonds at yesterday's secondary market trading after the government withdrew a ruling giving tax exemption on investments in debt papers with maturities longer than five years, traders said. Still, National...

Will RP take the US, European path to ban cigarette advertising?
February 22, 2000... With the filing of Senate Bill (SB) No. 1554, also known as the Stop Tobacco and Other Products for Health Act, the end of tobacco advertisements may be just around the bend. Filed by Senator Juan M. Flavier, the bill seeks to immediately...

Getting the Edge in Professional Selling: Product application and selling skills.
February 22, 2000... Without product knowledge, a salesman will be at a loss when it comes to persuading clients to buy. The salesman represents his company's products or services. At the very least, he should be able to explain how the product works and how it...

Practicing proper care of delicate contact lens.
February 22, 2000... The proper care of one's pair of contact lenses is vital. Its significance cannot be stressed enough. Unfortunately, many fail...or take things for granted...in this area. What users should know is that contact lenses, in order to remain...

US-based company offers natural maintenance goods.
February 22, 2000... When E. Excel International, a United States-based research and manufacturing company started its operations of distributing functional food products locally, it held on to the principle that that there is no better cure than prevention. ...

Net service givers record high rates.
February 22, 2000... Internet service providers (ISPs) using the Total Control... multiservice access platform from 3Com Corp., recorded the highest ratings for connection speed and success rates, based on published reports from the industry's Internet...

New software for banking solutions.
February 22, 2000... Unisys Corp. has announced the integration of software applications from Siebel Systems into the Unisys e-@ction banking solutions portfolio. Unisys also announced its intent to form a business alliance with Customer Analytics (formerly...

Megaworld Foundation announces its first batch of college scholars.
February 22, 2000... Megaworld Foundation, the nonprofit social arm of property-based holding company Megaworld Corp., will be sending an initial eight college scholars to two of the country's top learning institutions for Engineering, Architecture and related...

Service, support for Windows 2000 customers.
February 22, 2000... PALO ALTO, Calif. - Hewlett-Packard Co. (HP) has announced a series of service and support options to help customers migrate smoothly to the Microsoft R Windows R 2000 Server network operating system. HP will provide comprehensive...

Direct selling company marks 7th year.
February 22, 2000... House of Sara Lee (HOSL), one of the country's leading direct selling companies, will celebrate its 7th anniversary this month with its year theme "Bagong Sigla ," inspired by the company's renewed spirit, stronger commitment to service and...

IDRC to promote corporate infrastructure resource management.
February 22, 2000... In response to the global needs of managing corporate business and achieving competitive advantage, the International Development Research Council (IDRC) takes an active role in corporate development by aligning asset management with core...

Strong financial market needed to grow e-business.
February 22, 2000... One of the challenges for Philippine business today is to expand the financial market to to support e-business. "Making profit is not the rule in today's 'dot.com' world," said William Hutchison, area director for technology and...

DBM should implement IT systems plan of government - NITC study.
February 22, 2000... The Department of Budget and Management (DBM) is deemed the most capable government agency to implement a government-wide plan to streamline government management through information technology (IT), a government study said. The policy...

CHED names 24 model IT colleges in the Phils.
February 22, 2000... The Commission on Higher Education (CHED) has identified 24 colleges and universities offering information technology (IT) courses as Centers of Development Excellence (CODEs). The schools, deemed as leaders in IT education, will be given...

UN agency sets up poverty monitoring system.
February 22, 2000... Networking solutions provider Cisco Systems and the United Nations Development Program (UNDP) are currently working with local government units (LGUs) on a project to support a poverty information monitoring system that both claim will be...

BIR mulls upgrade to Windows 2000.
February 22, 2000... The Bureau of Internal Revenue (BIR), the government's main tax collection and enforcement agency, is mulling the migration of its systems to the Windows 2000 operating system (OS) platform, a top BIR official said recently. "Windows...

Adding value to Mindanao exports.
February 22, 2000... DAVAO CITY - For Mindanao to fully exploit its potential in the export industry, it must focus on the value processing of its export-bound commodities, an economist from the University of the Philippines-Mindanao said recently. Figures from...

Davao City award for being clean.
February 22, 2000... DAVAO CITY - Davao City garnered recently the grand prize in the 1999 Gawad Pangulo ng Kapaligiran, a nationwide contest organized by the National Government which identifies the cleanest cities. Davao received P1 million along with the...

City clinic for hearing disabilities.
February 22, 2000... DAVAO CITY - The Maharlika Charity Foundation recently opened a hearing disability clinic to serve persons with hearing disabilities. The center hopes to serve particularly children and elderly people who suffer hearing disabilities which may...

Benguet town hit by landslides.
February 22, 2000... MANKAYAN, Benguet - Residents in this mining community remain apprehensive as government and private geologists continue to debate among themselves the cause of the series of landslides that have so far damaged two school grounds, at least...

Gov't to pursue peace meetings with MILF, says Palace official.
February 22, 2000... The government is bent on resuming formal peace talks with the Moro Islamic Liberation Front (MILF) despite the recent suspension of negotiations, Presidential Spokesperson Fernando T. Barican said yesterday. He told reporters at the...

Hands-off policy in GFIs' investments, vows Pardo.
February 22, 2000... While yesterday vowing to preserve the "independence" of state pension funds in making investment decisions, the Department of Finance (DoF) said it will no longer allow the Social Security System (SSS) and the Government Service Insurance...

Business registry aimed at helping RP firms go global.
February 22, 2000... Two senators have filed separate bills that seek to establish a national business database to facilitate the integration of local businesses into the world market. Senators Sergio R. Osmena III and Robert S. Jaworski, Jr. filed senate...

E-commerce bill re-filed at Senate; measure certified urgent by Palace.
February 22, 2000... The Senate trade and commerce committee has re-filed a bill that seeks to promote paperless transactions through the use of electronic data interchange (EDI). Senate Bill (SB) 1902, which President Joseph Estrada recently certified as...

Legislator warns of 'new oil shock'.
February 22, 2000... A senator yesterday sought a comprehensive strategy to cushion the impact of what he calls a "new oil shock" similar to what occurred in the 1970s. Senator Francisco S. Tatad said the threat is real and that the government must prepare...

Task Force Aduana, SRA to combat sugar smuggling.
February 22, 2000... The Presidential Antismuggling Task Force Aduana has forged an agreement with the Sugar Regulatory Administration (SRA) to fight sugar smuggling Task Force chief Lt. Gen. Jose Calimlim said the memorandum of agreement (MoA) mandates...

Ecozone exec says foreign investors still cautious.
February 22, 2000... CEBU CITY - Foreign investors have remained apprehensive and cautious, stretching the gestation period of their proposed projects to more than the usual six months. At the Cebu Light Industrial Park (CLIP), a 70-hectare special economic...

Wednesday bidding set for 131,000 metric tons of rice.
February 22, 2000... The National Food Authority (NFA) will aim to purchase 131,000 metric tons of imported rice during an auction tomorrow. "We're bidding out 131,000 metric tons on February 23. Potentially there could be two winners for 65,000 metric tons...