BusinessWorld (Philippines) articles from February 2009, page 10

BusinessWorld (Philippines) archives from February 2009

CORP FILE.
February 12, 2009... Byline: Maria Eloisa I. Calderon That most students, regardless of race and color, have come to despise mathematics as a subject, and parental discontent has intensified as a result, have given rise to businesses that provide math help...

Intel unit to rehire workers.
February 12, 2009... About 1,000 Filipino workers who lost their jobs after chipmaker Intel Corp. closed its facility in Cavite last month will be rehired by its sister company, Philippine Economic Zone Authority (PEZA) Director General Lilia B. de Lima said...

No job cuts for Microsoft.
February 12, 2009... Microsoft Philippines has said it was cutting jobs despite layoffs being implemented by the software giant around the world. Rafael Rollan, Microsoft Philippines managing director, said the Philippine office will not be part of the 5,000 job...

Operation of Limay power plant attracts little interest.
February 12, 2009... Byline: Ava Kashima K. Austria THERE WERE ONLY TWO parties that attended the pre-bid conference last Tuesday for the operation and maintenance of the 620-megawatt Limay combined cycle plant, and only one of them bought bid documents. ...

Palace claims $2-B assistance pledges from presidential trip.
February 12, 2009... Byline: Bernardette S. Sto. Domingo THE GOVERNMENT received informal investment and assistance pledges totalling nearly $2 billion during President Gloria M. Arroyo's recent trips abroad. Executive Secretary Eduardo R. Ermita told...

RP fishing firm plans $25-M tuna factory in Papua New Guinea.
February 12, 2009... Byline: Romer S. Sarmiento GENERAL SANTOS CITY - A major fishing company here has partnered with local and Thai firms for a $25-million canned tuna factory in Papua New Guinea, a company official confirmed on Wednesday. Augusto C....

China firm front runner for WB-funded project.
February 12, 2009... Byline: Emilia Narni J. David A CHINESE FIRM has been identified as the front runner in the bidding for the $576.02-million second phase of the National Road Improvement and Management Program (NRIMP) funded by the World Bank. "Out...

Deficit target stays.
February 12, 2009... Byline: Alexis Douglas B. Romero DESPITE the need to spend an additional P13 billion for the automation of the 2010 national polls, the government is sticking to a P102-billion deficit target for now as it continues to seek ways to boost...

LET'S TALK TAX.
February 12, 2009... Byline: Larissa C. Dalistan-Levosada To Filipinos, February is all about celebrating Valentine's day. As early as January, Filipinos plan their romantic dinner or unforgettable "getaway." Valentines' day celebrations are expected to...

Economic Indicators.
February 12, 2009... Byline: Rosanna Mae A. Labitag Motor vehicle registration in the first 11 months of 2008 went up 4.14% to 5.759 million units from 5.53 million units in the same period the year before, latest data from the Land Transportation Office...

First half to decide wage hikes.
February 12, 2009... Byline: Emilia Narni J. David The government is considering a moratorium on minimum wage increases this year but will wait to see how businesses perform in the first half before endorsing the move. "We want to see what the economic...

TV's lure holding only for kids, older folk?
February 12, 2009... Byline: Don Gil K. Carreon Television remains a significant part of people's lives but teenagers and young adults are watching less compared with children and older people, a TNS Media Research study showed. Filipinos aged 60 and up...

Meralco trades pique exchange's interest; utility asked to explain.
February 12, 2009... Byline: Kristine Jane R. Liu RECENT movements in the share price of Lopez-led Manila Electric Co. (Meralco) have piqued the exchange's attention, with market talk pointing to a tussle for control of the country's largest power utility....

Analyst forecasts better '09 growth for RP despite crisis.
February 12, 2009... A local analyst remains upbeat about the Philippines' growth prospects, forecasting the economy to perform above official targets despite the global economic slowdown. ATR KimEng Securities, Inc. economist Luz L. Lorenzo told a Security...

Bond issuances to rise - ADB.
February 11, 2009... Byline: Gerard S. dela Pena Local debt issuance is expected to rise in the emerging East Asian region as governments introduce stimulus packages amid an economic slump and as companies turn to local debt markets for fund-raising, the...

RP banks stable but profits to slide - Fitch.
February 11, 2009... Byline: Gerard S. dela Pena Philippine banks are likely to see poorer profits and higher nonperforming loans as a result of slower economic growth this year, said global debt watcher Fitch Ratings. Compared to their peers in the...

Peso gains ground.
February 11, 2009... Byline: Gerard S. dela Pena The peso yesterday broke the P47-per-dollar barrier, strengthening for the fourth consecutive trading day against the dollar mainly due to significant dollar inflows from the bond sale of a private corporation....

Stocks slump after investors pocket gains.
February 11, 2009... Byline: Kristine Jane R. Liu with AFP Share prices tumbled yesterday after investors pocketed gains from recent rallies, analysts said. The benchmark Philippine Stock Exchange index shed 1.73% or 33.89 points to 1,917.57, while the...

COURTSIDE.
February 11, 2009... Byline: Anthony L. Cuaycong Considering how bummed I am in the wake of Alex Rodriguez's admission yesterday that he has, in fact, taken performance-enhancing drugs, it's safe to say I'll be viewing the upcoming season of Major League...

GIVE AND GO.
February 11, 2009... Byline: Michael Angelo S. Murillo "This is it. It's for all the marbles. I'm sitting in the house loading up the pump. I'm loading up the Uzis. I've got a couple of joints with some silencers on them, couple of grenades, got a missile...

ONSTAGE.
February 11, 2009... Byline: Juan Antonio Lanuza This was a Philippine theme weekend for me. On Friday at the Instituto Cervantes, I attended a screening of Namets!, an indie film that was part of the Cinemalaya 2008 film festival at the Cultural Center...

COMMENTARY.
February 11, 2009... Byline: Precious Leano The visual arts community in the Philippines is composed of various stakeholders who interact with each other to sustain a thriving market. Artists, individual/corporate collectors, independent art...

Public monuments.
February 11, 2009... Byline: Sam L. Marcelo "Just because I've been painting in black and white for most of my career, that doesn't mean that I've given up on all other colors. I didn't sign an agreement that says anything like that. Aren't you glad that I'm...

CdO marks National Arts Month with Tales of Mindanao.
February 11, 2009... Byline: Geefe P. Alba CAGAYAN DE ORO CITY - Iligan City's Integrated Performing Arts Guild, the resident cultural group of the Mindanao State University-Iligan Institute of Technology, performed Tales from Mindanao during its visit to...

ART & CULTURE.
February 11, 2009... Art19b Gallery Deconstruction Love, featuring the works of Juno Parungao, Jeremy Malcampo, Ivan Carlo Basit, Alain Austria, Liezl Buenaventura, and Lito Casaje, will run from Feb. 12 to March 5 at Art19b in Gen. Romulo Ave., Araneta...

Latest Toyota Corolla Altis Now Comes in 2.0-Liter Flavor
February 11, 2009... Toyota Motor Philippines Corp. is upping the definition of compact sedan a notch, both in terms of engine displacement and price, with the introduction of the 2.0-liter Corolla Altis. The top of the line variant to the Altis line-up, which...

Focus on worry-free driving.
February 11, 2009... Byline: Tito F. Hermoso Top speed: over 200 kilometers per hour. Zero to a 100 km/h: a little over nine seconds. Highway consumption of diesel: 19 to 22 km per liter. Six-speed automatic. Turbo-charged 2.0-liter. German car levels of...

NOT SO FAST.
February 11, 2009... Byline: Tito F. Hermoso The Jaguar-Land Rover salesroom bears the imprint of the proprietor. Space considerations understandably preclude the wood and leather English drawing room look but a word with W. Soong, esq., gives any enquiry a...

BRIEFS.
February 11, 2009... Mazda Philippines celebrates fifth year On the occasion of its fifth anniversary, Mazda Philippines has a lineup of special "Zoom-Zoom" activities for the public, starting with a Zoom Fest this weekend. The two-day event, to be held at...

World Bank considering furnishing Senate scandal report.
February 11, 2009... Byline: Bernard U. Allauigan The World Bank (WB) is considering furnishing the Senate a copy of its investigation report on a public works bidding scandal. This, after WB Country Director Bert Hofman said he forwarded Senator Miriam...

Medicine price list out in March.
February 11, 2009... Byline: Emilia Narni J. David The drug price control list under the cheaper medicines law would be released next month at the latest, according to the Department of Health (DoH). Health Undersecretary Alexander A. Padilla said in a...

Ombudsman to investigate helicopter bidding.
February 11, 2009... Byline: Louella D. Desiderio The Department of National Defense (DND) has referred to the Ombudsman for investigation the failed bidding for six night-capable attack helicopters worth P1.2 billion. "We made a referral to the...

Warning systems set.
February 11, 2009... The Agriculture department and the Australian Agency for International Development has set up community-based early warning systems in selected villages considered as high-risk areas for contracting the avian influenza, or bird flu. Training...

Businessman rescued.
February 11, 2009... ZAMBOANGA CITY - Operatives of the Criminal Investigation and Detection Group yesterday rescued a kidnapped businessman and apprehended seven suspects. Mayor Celso L. Lobregat said police operatives launched an operation near a military camp...

Peace opinions sought.
February 11, 2009... DAVAO CITY - The Mindanao Business Council has tapped the island's chambers of commerce in seeking opinions on the peace process with the Moro Islamic Liberation Front. At the same time, the organization is also pushing for the inclusion of...

Cautious Ayala Land to cut 2009 spending.
February 11, 2009... Byline: Kristine Jane R. Liu Property developer Ayala Land, Inc. is taking a cautious stance this year because of the slowing global economy, even after posting a 10% hike in profits last year. In a briefing yesterday, Ayala Land...

Atlas hikes profits from copper sale.
February 11, 2009... Byline: Neil Jerome C. Morales Listed Atlas Consolidated Mining and Development Corp. has completed its second shipment of copper concentrates to China at prices more than double the current copper price, the company told the stock...

Layoffs in other sectors may affect demand for Alaska products.
February 11, 2009... Byline: Don Gil K. Carreon Listed Alaska Milk Corp. will not cut jobs this year, but continued layoffs in other industries could affect demand for its dairy products, its top official said yesterday. "Our focus is on growing and...

PSE to decide fate of Gatchalian firms.
February 11, 2009... Byline: Kristine Jane R. Liu The Philippine Stock Exchange (PSE) will be discussing the case of six Gatchalian-led companies at its board meeting today, PSE President Francis Ed. Lim said yesterday. "There is no decision yet. It will...

Fast-tracking of dam project urged.
February 11, 2009... East Zone Concessionaire Manila Water Co., Inc. wants the government to fast-track the construction of a major bulk water supply project in Rizal to benefit consumers. In an interview yesterday, Manila Water Corporate Communications Manager...

VECO improving customer service.
February 11, 2009... CEBU CITY - Visayan Electric Co., Inc. (VECO) will migrate to an Oracle customer care application later this year to improve services to its growing customer base. Sebastian R. Lacson, vice-president for administration and customer services,...

PLDT: Reaping profits by doing business the right way (6th MAP Best.
February 11, 2009... The 106-page financial section in PLDT's 2007 annual report says it all: this is a company that takes transparency very seriously. The 2007 annual report, one of the 20 finalists in the 6th Management Association of the Philippines (MAP)...

Napocor told to pay P289M in taxes.
February 11, 2009... Byline: Ira P. Pedrasa The state-owned National Power Corp. (Napocor) will have to carry the burden of paying P288.58 million in real property taxes on the 215-megawatt Bauang diesel power plant in La Union even if it owns the facility...

Ayala unit wins MAP 2007 annual report awards.
February 11, 2009... Two Ayala companies made it to the top three listed firms honored by the Management Association of the Philippines (MAP) for adhering to high standards of corporate transparency and accountability through their annual reports. The...

Ayala Corp.: Consistent disclosure quality regardless of the outcome.
February 11, 2009... How does a company manage to live up to good corporate governance when it owns one of the country's largest and most diversified business groups? For Ayala Corp., the answer comes easy - just look at its corporate DNA. "We think of...

Shell to firm up IPO plans by 3rd quarter.
February 11, 2009... Byline: Ava Kashima K. Austria Pilipinas Shell Petroleum Corp. will have firmed up its plan to go public by the third quarter, Shell Country Chairman Edgar O. Chua said yesterday. In an interview, Mr. Chua said they were targeting to...

Customs presses Shell on P21-B back taxes.
February 11, 2009... Byline: Jhoanna Frances S. Valdez THE BUREAU OF CUSTOMS (BoC) is pressing Shell to pay some P21 billion in back taxes, even if the firm may have found an ally in the Bureau of Internal Revenue (BIR) on its argument against the excise tax...

'Davao' brand chocolate launched in the US.
February 11, 2009... Byline: Joel B. Escovilla DAVAO CITY - US chocolate manufacturer Askinosie Chocolate of Springfield, Missouri introduced to the US market its "Davao 77%" dark chocolate last Jan. 30, prompting the Davao City Council to pass a resolution...

Palau's export tax an obstacle to fishing joint ventures.
February 11, 2009... Byline: Romer S. Sarmiento GENERAL SANTOS CITY - A hefty tax on tuna and tuna-like species emerged as the major issue that Philippine fishing companies here raised during exploratory talks late last week for joint fishing venture deals...

Workshop to identify ways to help SMEs become competitive.
February 11, 2009... TRADE OFFICIALS and business leaders will chart strategies for helping local small- and medium-scale enterprises (SMEs) become more competitive in a workshop tomorrow. A key issue to be tackled is how to encourage the creation of...

Conditional cash transfers no substitute for social reforms, WB paper.
February 11, 2009... Byline: Alexis Douglas B. Romero DESPITE ITS CAPABILITY to boost enrollment rates and encourage the use of public health services, conditional cash transfers (CCT) should not be viewed as substitute to programs that seek to address...

Shoptalk.
February 11, 2009... Business losses likely With the tax payment season a little over two months away, state coffers may be bracing themselves for lower revenue collections due to losses that would likely be declared by several businesses as a result of the...

UPSHOT.
February 11, 2009... Byline: Bernardo V. Lopez I wish to thank Mr. Scott Kim of LG International, project director of Rapu-Rapu Polymetallic Project (RRPP), for clarifying his firm's perspective in reaction to my article 'Rapu-rapu resurrected' (Jan. 7,...

CAPITAL VIEW.
February 11, 2009... Byline: Mercedes B. Suleik It has been said that business ethics is an oxymoron. By the same token, I suppose, it would be said that economics and morality are antithesis, and that the economic doctrine about free markets cannot live...

CORE.
February 11, 2009... Byline: Benjamin E. Diokno Mrs. Arroyo unveiled on Monday a package of measures aimed at generating jobs for unemployed Filipino workers as well as help distressed firms cut operating costs in the face of the global economic crisis. This...

Government sets negotiated sale for Calaca plant.
February 11, 2009... Byline: Ava Kashima K. Austria THE GOVERNMENT is once again resorting to a negotiated sale of one of its power plants, after the winning bidders of the 600-megawatt (MW) Calaca coal-fired power facility pulled out from the deal last...

NEDA body endorses P5-B infrastructure projects for approval.
February 11, 2009... THE INVESTMENT COORDINATION COMMITTEE of the National Economic and Development Authority (NEDA) has endorsed for approval by the agency's Board two infrastructure projects totalling P5.945 billion, NEDA documents showed. The first is the...

Philippines receives $73-million US environment grant.
February 11, 2009... Byline: Bernardette S. Sto. Domingo THE PHILIPPINES stands to benefit from a $73-million grant from the United States aimed at supporting environment and energy programs over the next six years. Representatives of both governments...

Software outsourcing industry expecting slower growth in 2009.
February 11, 2009... Byline: Jose Bimbo F. Santos THE COUNTRY'S software outsourcing industry expects slower growth in sales this year amid the deepening global economic slump. At the culmination of the two-day e-Services Global Sourcing Conference and...

Pre-need firm's assets sought to cover plan holders' claims.
February 11, 2009... Byline: Bernard U. Allauigan A Senate panel has asked the owner of a beleaguered financial group to submit a statement of assets and liabilities (SAL) as basis for liquidating properties to pay the claims of pre-need plan holders. ...

Oil company follows fuel price adjustments.
February 11, 2009... Byline: Ava Kashima K. Austria Independent oil firm Unioil Petroleum Philippines, Inc. reduced diesel and kerosene by at least P2 per liter yesterday to reflect world oil price movements. Chito Medina-Cue, Jr., Unioil general...

Makati sets tax hike moratorium.
February 11, 2009... Byline: Louella D. Desiderio Makati City will be implementing three-year moratorium on real property and business tax hikes to help residents and businesses cope with the economic crisis. "We realize that this is not the time for the...

Wooing them ads in a tough year.
February 11, 2009... Byline: Jeffrey O. Valisno With the global economic turmoil expected to drag down advertising revenues, broadcast company GMA Network Inc. is pulling out all the stops to keep advertisers interested. From cash prizes to kisses from...

Moody's forecasts 'decent' 3.3% growth for RP this year.
February 11, 2009... Byline: Gerard S. dela Pena The top three credit ratings firms all expect the Philippines to miss official growth targets for the year but the last debt watcher to declare so said the 2009 result would be "decent" and better than most...

DoJ panel to probe Legacy.
February 10, 2009... Byline: Ira P. Pedrasa and Jhoanna Frances S. Valdez The DEPARTMENT of Justice has created a panel to look into the criminal liabilities of the officials and employees of the Legacy Group notorious for pre-need firms that shut down...

PDIC readies claim payments.
February 10, 2009... Byline: Paolo Luis G. Montecillo The Philippine Deposit Insurance Corp. (PDIC) will start servicing the claims of Legacy rural bank depositors this week, an official said yesterday. Jose C. Nograles, PDIC president, told reporters at...

BDO finishes 2008 as largest bank in terms of resources.
February 10, 2009... Byline: Gerard S. dela Pena Banco de Oro Unibank, Inc. emerged as the country's largest bank in terms of assets as of end-2008, breaking the stranglehold of the Metropolitan Bank & Trust Co. on the number one spot. Based on banks'...

Peso strengthens to P47:$1.
February 10, 2009... Byline: Gerard S. dela Pena The peso yesterday continued to strengthen against the dollar as developments on a planned stimulus package for the US economy weighed down on the greenback. The peso closed at the day's opening of P47 per...

Share prices rise on follow-through buying.
February 10, 2009... Byline: Kristine Jane R. Liu Share prices sustained their rise yesterday on follow-through buying after Wall Street gained more than 200 points last Friday, analysts said. The benchmark Philippine Stock Exchange index rose by 0.46%...

COURTSIDE.
February 10, 2009... Byline: Anthony L. Cuaycong Of all the trade scenarios being put out in the wild since the Suns earnestly began to field offers for players on the roster not named Steve Nash, the most ridiculous one just has to be that which would bring...

GIVE AND GO.
February 10, 2009... Byline: Michael Angelo S. Murillo I have to hand it to the Talk 'N Text Tropang Texters for the way they handled themselves in Game Six of the best-of-seven PBA Philippine Cup finals last Sunday. Dealt a devastating loss in Game Five by...

Greater women involvement in work force recommended.
February 10, 2009... Manpower, Inc., a leader in the employment services industry and partner of the Annual Meeting of the World Economic Forum in Davos, recently released a paper titled, "The Underworked Solution: Women and the Talent Crunch." The paper...

ePLDT launches new messaging platform.
February 10, 2009... E-mail as a means of communication has been embraced by companies large or small alike. Implementing an e-mail system, however, can be a daunting task. There are the costs to consider from purchasing an e-mail server and hiring experts...

PEOPLE.
February 10, 2009... Bemedalled athlete to receive World Bowling Writers Award Paeng Nepomuceno is set to receive the Mort Luby, Jr. Distinguished Service Award from World Bowling Writers - an international association of Tenpin Bowling journalists, PR...

CONSUMER GUIDE.
February 10, 2009... Canon champions era of power, precision and zoom True to the spirit of innovation and the pursuit of photographic excellence, Canon re-imagines the popular PowerShot series with a bold new processor, new HD recording function and even...

BRIEFS.
February 10, 2009... Credit charges allowed BayanTrade Academy, the education and training arm of BayanTrade, is now accepting all major credit card payments for would-be enrollees. In addition, BayanTrade Academy is also offering its Training-Internship-...

Survivor returns to Q-11.
February 10, 2009... Byline: Jeffrey O. Valisno Following the successful airing of Survivor: Gabon last year, Quality Television (Q-11) will air live the much anticipated latest season of the pioneering reality TV show starting Friday, Feb. 13. The 18th...

PHILIPPINE SILICON VALLEY.
February 10, 2009... Byline: Dennis Posadas While the worldwide economy falters, the tech economy is in a mad rush to cut jobs. Locally, Intel's 1,800 jobs, Amkor's 1,500 jobs and a host of other screaming layoff headlines all banner the fact that our export...

RP, EU start negotiations on cooperation framework.
February 10, 2009... Byline: Emilia Narni J. David THE PHILIPPINES and the European Union (EU) yesterday started talks in Manila for a general framework on bilateral cooperation that is requisite for a free trade agreement (FTA). The talks, which could take as...

Compostela Valley reviews its share in mining revenues.
February 10, 2009... Byline: Carmelito Q. Francisco DAVAO CITY - The Compostela Valley government has formed a body to evaluate how much it was supposed to get from mining operations in the province after realizing its revenue from the industry in the last 10...

Samar transmission project pushed.
February 10, 2009... Byline: Sarwell Q. Meniano PALO, Leyte - The top official of the National Economic and Development Authority (NEDA) in the region is optimistic that the new owner of the National Transmission Corp. (TransCo) will implement the long-...

LET'S TALK TAX.
February 10, 2009... Byline: Kristine S. Casa-Siervo Early this year, the Commissioner of the Bureau of Internal Revenue (BIR) issued a Revenue Memorandum Circular (RMC) informing all internal revenue officials, employees and others concerned of the...

Wanted: 10,000 Asian butchers in Australia, Canada, New Zealand.
February 10, 2009... Byline: Joel B. Escovilla DAVAO CITY - About 10,000 Asian butchers are needed by meat processing plants and restaurants in Australia, New Zealand and Canada, an official of the Technical Education and Skills Development Authority (TESDA)...

Global Steel pushes tariff hike.
February 10, 2009... Byline: Jessica Anne D. Hermosa FLAT STEEL maker Global Steel Philippines, Inc. (GSPI) has asked the government to raise tariffs against imports as a protection against dumping. But galvanizers who use flat steel as raw material for...