BusinessWorld (Philippines) articles from February 2000, page 6

BusinessWorld (Philippines) archives from February 2000

Farmers, NGOs urge High Court to halt Bt corn tests.
February 22, 2000... General Santos City farmers and five nongovernment organizations yesterday asked the Supreme Court to stop the government's field testing of genetically engineered corn in the province. In a petition, 28 General Santos City farmers and...

Palace asked to aid SEC drive vs illegal forex trade.
February 22, 2000... After cracking down on brokerage houses involved in the allegedly fraudulent trading of BW Resources stocks, the Securities and Exchange Commission (SEC) said it is intensifying its campaign on the prosecution of fly-by-night money market...

Clarification.
February 22, 2000... Benpres Holdings Corp. (BHC) yesterday clarified a budget of between P1.5 billion and P2.5 billion has been allotted to upgrade its network over a two-year period. In a disclosure, BHC also said SkyCable has long planned an initial...

Globe seen eyeing Liberty frequency through Isla deal.
February 22, 2000... Frequency allocation has become a precious commodity nowadays as cellular operator Globe Telecom GMCR, Inc. is said to be eyeing the spectrum allocation of Liberty Telecoms Holdings, Inc. Globe's partner, cellular firm Isla Communications...

Uniwide creditors 'open' to debt payment proposal.
February 22, 2000... Creditor banks of the Uniwide Group of Companies are said to be "open" to the proposed debt payment plan to pave the way for the entry of Casino Guichard-Perrachon SA, France's second-largest retail chain. The Uniwide group and its...

Mondragon still waiting for bridge financing from California trust firm (Owners' meet postponed for 3rd time).
February 22, 2000... Listed leisure firm Mondragon International Philippines, Inc. (MIPI) has postponed for the third time its annual stockholders meeting after the company failed to raise the money needed to regain control of the 215-hectare Mimosa Leisure...

Sandiganbayan lifts Piedras auction suspension order.
February 22, 2000... The Sandiganbayan yesterday said the auction for 145 million shares in a Bataan-based oil exploration company sequestered by the government will resume after it was suspended a month ago. A Sandiganbayan resolution released yesterday...

Eight developers set sights on BCDA assets up for sale.
February 22, 2000... Eight of the country's top developers, including mall leader SM Group of retail king Henry Sy, have signified their interest to bid for the P50-million Asset Disposition Program (ADP) of the Bases Conversion and Development Authority (BCDA)...

BayanTel offers frame relay service.
February 22, 2000... New companies and those planning to expand can now access advanced technology previously available only to the big Philippines businesses. Bayan Telecommunications, Inc. (BayanTel) recently launched the Vendor Alliance Program (VAP) with...

No operating permit yet for cargo airline company.
February 22, 2000... Traversing the same path as the Gatchalian-controlled airline company, the cargo airline CLA Air Transport, Inc. is currently inccuring losses due to delays in Civil Aeronautics Board's (CAB) approval of its operating permit. ...

Labor federations figure in PAL union elections.
February 22, 2000... The 6,000-strong rank-and-file union of Philippine Airlines, Inc. (PAL) once again finds itself at the center of another brewing storm as its members prepare to install new leaders that will work with the troubled airline's management. ...

Mayon shows signs it may erupt within several weeks.
February 22, 2000... Mayon Volcano in Albay continues to show signs that it may erupt "within weeks," the state-run Philippine Institute of Volcanology and Seismology (Phivolcs) said yesterday. In its bulletin, Phivolcs said it observed three short episodes...

Series of bombings in Basilan kills one, wounds 18 others.
February 22, 2000... Series of bombings in Basilan the other day resulted in the death of one person and the wounding of 18 others, reports from the Philippine National Police (PNP) Central Operations Center in Camp Crame said. The bombings, which occurred...

Cops put on red alert for EDSA celebration (3,000 policemen to be deployed in metropolis ).
February 22, 2000... The Philippine National Police (PNP) will be on red alert on Friday to ensure peace and order throughout Metro Manila during the celebration of the 14th anniversary of the EDSA People Power Revolution. Thus said yesterday National Capital...

No repeat of EDSA - FVR.
February 22, 2000... CEBU CITY - Former President Fidel V. Ramos does not think the People Power Revolution at EDSA will ever be replicated. "I don't think EDSA (revolution) will happen again. It's very improbable because we have a more mature military," he said...

Laquian post formalized.
February 22, 2000... President Joseph Estrada has issued Administrative Order No. 109 which formally creates the Office of the Chief of Staff (OCS) as well as clarify the functions and responsibilities of offices under the Office of the President. In justifying...

Junk Joma, Dutch asked.
February 22, 2000... The Dutch government will look into possible "legal action or political pressure" on exiled Filipino communist leaders Jose Ma. Sison and Luis Jalandoni, the Department of Foreign Affairs (DFA) yesterday said. This was after DFA...

Lastimoso trial pushed.
February 22, 2000... Former Philippine National Police (PNP) chief Roberto T. Lastimoso should prove his innocence in court instead of asking the Sandiganbayan to dismiss the graft charge charge against him. In a five-page reply submitted to the Sandiganbayan...

Erap defends Oreta firm.
February 22, 2000... President Joseph Estrada said yesterday the government contract awarded to the construction firm of presidential adviser on economic zones Antolin Oreta is above board. Mr. Oreta is the husband of Senator Teresa Aquino-Oreta. Mr. Estrada also...

DPWH abolition sought.
February 22, 2000... A senator sought yesterday the privatization of the Department of Public Works and Highways (DPWH) given its alleged inefficiency and widespread graft and corruption in the agency. In a press briefing, Senator Francisco S. Tatad said putting...

Gloria won't bite - Sonny.
February 22, 2000... Opposition congressmen said yesterday Vice-President Gloria Macapagal-Arroyo will not accept the Estrada administration's offer to endorse her presidential candidacy in 2004. They also accused the ruling party Laban ng Masang Pilipino (LAMP)...

Philcom official wants review of operations, status.
February 22, 2000... The new management team of telecommunications firm Philippine Global Communications, Inc. (Philcom) is asking its creditor banks for a 60-day period to study the company's operations and financial status. The international gateway...

Editorial: One Voice: NGOs' transparency and accountability.
February 18, 2000... Two speakers referred to it as a celebration, comparing the First General Assembly of the Philippine Council for NGO Certification (PCNC) to a child's first birthday. Except this baby was five years in the making. The PCNC is the...

Privatization goal doubted (Trade chief says targets may be a 'big assumption').
February 18, 2000... Trade and Industry Secretary-designate Manuel A. Roxas II cast doubt on the ability of the government to raise P22 billion this year from its privatization activities. The National Government is targeting a P62-billion budget deficit...

Creditor banks oppose NSC rehab plan.
February 18, 2000... Creditor banks of debt-laden National Steel Corp. (NSC) want the corporate court to junk the recently submitted rehab plan. At the same time, they accused the country's largest steel manufacturer of forum shopping for filing a separate...

PhilWeb, Infomatec ink deal.
February 18, 2000... In the race towards providing high-speed Internet access and software solutions in the very competitive Internet service provider market, PhilWeb.com this week inked a memorandum of understanding with Infomatec AG of Germany to form a...

SEC lifts lockup of Centennial City common shares.
February 18, 2000... The Securities and Exchange Commission (SEC) yesterday lifted the lockup of over 3.9 billion common shares of Centennial City. In a meeting, the commission en banc - the highest decision-and policy-making body of the SEC - lifted the...

Economic value of forests needs to be underlined.
February 18, 2000... People must first understand the economic value of forests for them to realize the importance of saving them, Finnish ambassador to the Philippines Pertti J. Majanen said yesterday. Speaking at the First Forestry Forum on the Philippine...

Cebu tourism official warns negative publicity may erode sector's gains.
February 18, 2000... CEBU CITY - A tourism official here urged local government units (LGUs), especially in Cebu City and Daanbantayan town in northern Cebu, to be more vigilant and require accreditation of tourist facilities so as not to erode the gains made by...

World Bank OK's $250M in loans for RP.
February 18, 2000... The World Bank has approved two new loans worth $250 million for the Philippines, but World Bank officials said no additional loans are expected until the bank's fiscal year ends in June. Meanwhile, the World Bank also said the Estrada...

ECONOMIC INDICATORS: Agriculture sector shows signs of recovery.
February 18, 2000... The agriculture industry is showing signs of recovery following a 6.6% growth on its gross value added (GVA) for 1999, a complete reversal from 1998. Data from the National Statistical Coordination Board (NSCB) show that the GVA for the...

TAX CLINIC.
February 18, 2000... Capital gains tax This refers to a letter requesting for our confirmation of your opinion (1) that the net capital gains tax derived by the seller on the sale of shares of stock (hereinafter referred to as the "shares") shall be subject...

No flip-flopping on veto (Palace confident President did not violate law).
February 18, 2000... He may have flip-flopped on other issues but Malacanang yesterday assured President Estrada will not backtrack on his decision to veto special provisions in the budget, particularly those that require congressional concurrence in the release...

Aetna offers superior benefits with AAA college education plan.
February 18, 2000... With the launch of its new education plan, Aetna Philippines is helping make every parent's dream of providing the best college education for his child come true. The Aetna Assured Aeducation (AAA) Plan is guaranteed to be an indispensable...

SPECIAL FEATURE: Casino Filipino Open: RP pros get new chance to attain world ranking at Philippine Open.
February 18, 2000... While Paeng Nepomuceno was scoring strikes in bowling and Efren "Bata" Reyes was sinking unbelievable shots at the pool table, players like Frankie Minoza and Felix "Cassius" Casas were hitting golf balls and making names for themselves in...

SPECIAL FEATURE: Casino Filipino Open: Asia's top guns seen to dish out their best (To get world ranking points).
February 18, 2000... Some of the top shotmakers from Asia and other parts of the world are expected to clash for the top $32,000 purse in the rich Casino Filipino Open golf championship which started February 17 at the Masters Course of the Manila Southwoods Golf...

SPECIAL FEATURE: Casino Filipino Open: Manila Southwoods spruced up for tourney.
February 18, 2000... The Masters course of Manila Southwoods is already spruced up and ready to host a talented field in the inaugural $200,000 Casino Filipino Open. "Hosting championships is nothing new to this course. The Masters is ready 365 days a year,"...

SPECIAL FEATURE: Casino Filipino Open: Yeh holds the cards in Casino Filipino Open.
February 18, 2000... Taiwan's Yeh Wei-tze, whose triumph in the Benson & Hedges Malaysian Open earned him a three-year exemption on the Asian PGA and European Tours, has chosen to play close to home while the memories of his shock victory slowly started to sink...

SPECIAL FEATURE: Casino Filipino Open: PLAYERS.
February 18, 2000... POS. PLAYER WINNINGS EVENTS PLAYED 1 Kyi Hla HAN (MYN) $204,210.66 16 2 Gerry NORQUIST (USA) $139,415.67 10 3 Simon YATES (SCO) $132,999.50 17 4 KANG Wook-soon (KOR) $113,077.00 12 5 James KINGSTON (RSA) $101,775.86 11...

First Gas starts work on Batangas project.
February 18, 2000... First Gas Power Corp. has started construction of its 500-megawatt San Lorenzo gas-fired power plant in Sta. Rita, Batangas after sealing the $375-million financing with international banks. "We actually started the construction. We have...

Auction generates P47-M sales.
February 18, 2000... The country's first-ever public auction of real-estate properties held last of the month proved to be successful, generating sales of P47 million. Half of the properties up for bid were sold during the event, most of which got...

C&P starts Cavite development.
February 18, 2000... C&P Homes has started development of its Tierra Nevada housing estate in Gen. Trias, Cavite. The Nova model is a twin-home that features a unique high-ceiling design that not only increases space but also gives homeowners a feeling of...

Filinvest starts IT park dev't.
February 18, 2000... Filinvest makes its mark in the IT sector with the introduction of the PEZA-accredited Northgate CyberZone, the 18.7-hectare I.T. park within Filinvest Corporate City in Alabang, Muntinlupa City. A recent Far Eastern Economic Review...

Home developers optimistic on finance outlook.
February 18, 2000... Private property developers affiliated with the Subdivision and Housing Developers Association (SHDA) are optimistic on the business prospects for the housing construction industry this year. They also see increased opportunities for home...

New model home at Citta Italia.
February 18, 2000... Property developer Crown Asia has added another model house in Citta Italia housing estate in Cavite, bringing to nine the number of house designs available to buyers. Cellini - the latest model house with a floor area of 51 square...

Program to offer SMEs easy access to clean technologies.
February 18, 2000... State-of-the-art clean technologies from around the world will soon be made more accessible to local industries. The Department of Science and Technology (DoST) will launch a clean technology program for small-and medium-enterprises...

SPECIAL FEATURE: Travel and Tours: Lack of promotion fails to dampen interest in RP tourist destinations.
February 18, 2000... The richness of the Philippine environment has always been an invitation too strong for tourists to resist. Even after setbacks such as environmental pollution in some of the most popular spots - such as Boracay's E. coli issue - the...

SPECIAL FEATURE: Travel and Tours: RP keeps strong appeal to visitors.
February 18, 2000... Tourism acts as one of the proponents of economic growth. The influx of visitor arrivals plays a vital role in the promotion of Philippine products while simultaneously serving as a key factor in generating income to increase the growth of...

SPECIAL FEATURE: Travel and Tours: Go on a Philippine adventure.
February 18, 2000... AERIAL ACTION If you ever dreamed of flying, the Philippines is a great place to realize your dream. Skydiving, ultralight aircraft and hot-air balloons are ready and waiting for you a few hours outside Manila. The quality of instruction...

SPECIAL FEATURE: Travel and Tours: Citibank offers lite vacation packages.
February 18, 2000... There are many reasons and excuses to go on a vacation. Some would want to get away from the hassles and stress of work, some would want to go on a vacation with their significant other as a post-Valentine's Day date, some would want to treat...

SPECIAL FEATURE: Travel and Tours: Punta Fuego opens signature golf course.
February 18, 2000... Molded like a flame sitting afloat the calm waves of the South China Sea, Peninsula de Punta Fuego is another destination whose promise of beauty and comfort proves to be an attraction that can encourage tourism in the region. Only recently,...

Interclub fishing tourney.
February 18, 2000... Newly formed Sport Fishing Federation of the Philippines (SFFP) co-organizes as its first national fishing championship the annual PGFF-SBYC Interclub Fishing Tournament on Feb. 19-20 at the Subic Bay Yacht Club sponsored by SFFP president...

Minoza fires 68, trails Japan's Fukuzawa by one.
February 18, 2000... CARMONA, Cavite - Japan's Yoshimitsu Fukuzawa yesterday fired a five-under 67 to take a one stroke lead in the first round of the $200,000 Casino Filipino Open, second leg of the Davidoff Tour. Fukuzawa, defying blistering winds, attacked...

Chess Piece: GM George Koltanowski, 1903-2000.
February 18, 2000... George Koltanowski died last 5 February 2000 at the age of 96 in a San Francisco hospital after a brief illness. Born in 1903 in Antwerp, Koltanowski learned the game while watching his father play his older brother. He took up the game...

Editorial: Take Ten: Purita.
February 18, 2000... Two other Puras have made a deep impression on me. Actually, one of them is Purita, but I guess her name came from her mother, Pura Villanueva Kalaw. She is also the mother of Rita Ledesma Gonzales who was in the UP Dramatic Club a couple of...

Ballet Manila opens season with 2 classics.
February 18, 2000... Ballet Manila is celebrating its 5th anniversary with a romantic comedy and a classic. Opening the season for the new millennium are The Naughty Daughter (La Fille Mal Gardee) and Chopiniana (Les Sylphides) which will go onstage starting...

MCO Foundation presents Benigni film fest.
February 18, 2000... Manila is familiar with Roberto Benigni because of last year's Oscar-winning film Life is Beautiful and his amusing acceptance of the award. Now Filipinos will have a chance to see some of his other films with The Italian Film Festival which...

WEEKENDER: VALENTINE'S AT MENDIOLA.
February 18, 2000... It was a different kind of Valentine's Day this year, at least for a couple of thousand students, teachers, and non-academic personnel of the nationwide community that is the University of the Philippines (UP). Instead of pursuing their...

WEEKENDER: Ayala seeks to shape future leaders with youth congress.
February 18, 2000... THE YOUTH Today, 70 young leaders from Cagayan to Cotabato, all third year college students from colleges and universities all over the country, will be hieing off to the Andres Soriano Management Training Center in Tagaytay City. ...

WEEKENDER: Molding future finance leaders.
February 18, 2000... The team from the University of the Philippines, composed of Evelyn Chua, Richmond Escolar, Beryl Ang and Emina Chan, set the pace for finance students in the recently concluded two-day Inter-Collegiate Finance Competition held at St....

WEEKENDER: The Medium & the Message: Nescafe past and present.
February 18, 2000... I must confess that I have a long-standing personal emotional attachment to Nescafe. Fresh out of college, my first full-blown exposure to multi-media advertising and public relations was with one of the biggest Filipino advertising agencies...

WEEKENDER: Battle royal over McKinley Road.
February 18, 2000... POLITICS After years of cold war, the battle lines have been drawn again in the country's commercial capital. During a hearing conducted last week by the city council among associations of Makati's exclusive villages, Jaime Zobel de...

WEEKENDER: Health Economics: Cheap drugs already available.
February 18, 2000... I have two newspaper clippings about basically the same subject matter, one entitled "RP To Import Indian Drugs" (local broadsheet) and the other (BusinessWorld) "RP May Source Cheap Drugs From India." Well I have (good or bad) news for...

WEEKENDER: Have luck, will travel.
February 18, 2000... Believe me, it was sheer luck. A raffle ticket with my name, address, telephone number, and signature was picked out from hundreds, if not thousands of raffle tickets during the grand draw of "Looney in a Box," a promotion of the Warner...

WEEKENDER: Travel Trade East: The queen who came and went.
February 18, 2000... Queen Sofia of Spain, wife of the reigning Spanish monarch King Juan Carlos de Borbon, was here recently on a three-day working visit to strengthen bilateral relations between Spain and the Philippines. What she actually took up with Filipino...

Gov't gives lawmakers P10M each for projects.
February 18, 2000... Lawmakers each received P10 million yesterday after Malacanang nipped their attempt to require congressional concurrence on certain fund releases. The Department of Budget and Management released the solons' special allotment release...

New Justice secretary vows to be independent of Palace.
February 18, 2000... Government lawyers' decision to pursue the P25.27-billion tax evasion case against wealthy businessman Lucio C. Tan and his cigarette company is already a "small victory," a ranking Justice department official said yesterday. The...

Flooding in Davao City.
February 18, 2000... Recent flooding in Davao City has already affected 31 barangays and 2,553 families, the Davao City Office of Civil Defense reported yesterday. Relief operations are now ongoing in disaster areas. Affected by flood waters are the Talomo,...

Erap trip to Ilocos Norte.
February 18, 2000... Presidential spokesperson Fernando T. Barican said yesterday President Joseph Estrada's impromptu trip to Laoag City in Ilocos Norte has nothing to do with the government's recovery of the Marcoses' alleged ill-gotten wealth. He said Mr....

Rebels killed in Quezon.
February 18, 2000... Four communist rebels were killed in Quezon province last Monday after clashing with combined police and army special forces, reports from the Philippine National Police (PNP) Central Operations Center in Camp Crame state. The firefight was...

Kidnapping in Sulu town.
February 18, 2000... Suspected members of the terrorist group Abu Sayaff kidnapped last Tuesday a member of a nongovernmental organization in Sulu. A military report to the Armed Forces Southern Command identified the kidnap victim as Andy Amante, who is a...

Truck burning in Quezon.
February 18, 2000... Around 70 New People's Army (NPA) rebels burned two Asia Brewery delivery trucks loaded with beer in Quezon province last Tuesday, reports from the Philippine National Police Region IV state. The two delivery trucks were parked at a jeepney...

Graft in Castillejos town.
February 18, 2000... Castillejos, Zambales mayor Teofilo G. Panteleon, Jr. and town treasurer Jaime F. Vallejos now face two charges of malversation through the falsification of public documents at the Sandiganbayan after they allegedly "falsely reported"...

Locsin Award for Journalism.
February 18, 2000... Rationale: The Raul Locsin Award for Student Journalism is aimed at honoring the outstanding efforts of student journalists who have made significant contributions to the body of Ateneo journalism and Philippine campus journalism as a whole...

SPECIAL FEATURE: Travel and Tours: DOT-sponsored events for March (Sports Festival Month).
February 18, 2000... MAGELLAN TREK: MT. MAYAPAY CHALLENGE March 21, Butuan City It's a team competition held ten days before the annual celebration of First Mass in the Philippines. The grueling competition is a combination of running, canoeing, mountain biking,...

Stock exchange rejects proposal to delist BW (Roco calls for 'decisive actions now').
February 18, 2000... Should the greater number suffer for the sins of a few? Philippine Stock Exchange (PSE) governors thumbed down a possible delisting of gaming firm BW Resources Corp. when the matter was brought up during a board meeting Wednesday...

Banker who lent money to exec behind BW imbroglio in trouble.
February 18, 2000... BW Resources Corp. is so far dragging down with it at least one banker, who extended around P2 billion in loans to Dante Tan, currently the most controversial Chinese-Filipino businessman in the country. BusinessWorld sources yesterday...

RP to seek six-month extension of program with IMF.
February 18, 2000... The Bangko Sentral will ask the International Monetary Fund for a six-month extension of its standby facility to compensate for the delays encountered by the government last year. Thus, the central monetary authority's next loan availment...

Top companies turning to bond mart for funds.
February 18, 2000... Difficulty in raising financing from banks has prompted some of the country's top corporations to tap the bond market which, though costly, is expected to be beneficial in the long run. During the 1st Annual Philippine Local Debt...

Gov't financial institutions placed under DoF umbrella.
February 18, 2000... To effectively monitor government lending programs, all government financial institutions (GFIs) will soon be placed under the supervision of the Department of Finance (DoF). Finance Secretary Jose T. Pardo said yesterday the DoF will...

Sta. Rosa residents get modern wet market.
February 18, 2000... A modernized wet market soon to open in Sta. Rosa, a largely residential industrial area in Laguna, will pump-prime the commercial development of the booming municipality and provide basic services for its residents and workers. Project...

Abductions in Cotabato.
February 18, 2000... Two Moro rebels abducted four people in Cotabato last Monday morning, reports from the Philippine National Police Central Operations Center in Camp Crame said. The rebels, identified as Rudy Matampay and Tengan Pasandalan, abducted Budo dela...

Dear Editor: Medalla disagrees with Monsod on SD effect on growth rate.
February 18, 2000... Dear Ms. Monsod: Thank you very much for your vote of confidence in the integrity of the NEDA and the NSCB, an agency that is attached to NEDA. I will not speak for myself because that would be self-serving. But I would like to thank...

Dear Editor: Government should acknowledge its mistakes and learn from them.
February 18, 2000... The news reports on the Bataan Nuclear Power Plant blew my mind. The Filipino people pay for loans of the Marcos regime to the tune of more than SIX MILLION A DAY!!! That amount can feed a medium-sized barangay for one month or send homeless...