BusinessWorld (Philippines) articles from February 2009

BusinessWorld (Philippines) archives from February 2009

Economic Indicators.
February 27, 2009... Byline: Ma. Aizl Camille B. Cabarles Despite a slowing Philippine economy brought about by negative sentiments over the prevailing global credit crunch, decelerating consumer spending and unstable commodity prices, private building...

CHESS PIECE.
February 27, 2009... Byline: Bobby Ang GM Joseph Sanchez Seven years ago, after a so-so performance in the Philippine National Championship, Joseph Sanchez decided to pack up his bags and relocated to France to try his luck in the European chess circuit....

TAKE TEN.
February 27, 2009... Byline: Behn Cervantes Maria Makiling is the diwata (sprite) that is supposed to inhabit Mount Makiling, the ecologically endangered mountain that mostly sits on the green province of Laguna. A part of it is on likewise fertile Batangas....

WEEKENDER.
February 27, 2009... Byline: Mei Jarencio Its colonial exterior was impressive enough, with its columns and rusticated fa ade. One side of the building stood facing the Singapore River and another, the imposing Fullerton Hotel. On one wall was painted a...

WEEKENDER: marketing.
February 27, 2009... Byline: Johanna D. Poblete An advertising agency revealed last month 10 critical consumer trends that emerged from a survey conducted in 50 countries, coupled with local ethnographic studies (via qualitative individual interviews) that...

WEEKENDER: marketing.
February 27, 2009... Byline: Nanette Franco- Diyco I was first drawn to its brand name RED. The first time I caught it on television, I gathered that a new cellular network was coming. I caught three of the four-part series, missing what its director,...

WEEKENDER: hot this weekend.
February 27, 2009... DOG SHOW The 5th and 6th All-Breed Dog Shows Feb. 28 and March 1 People's Village, Tiendesitas, Ortigas Ave. cor. C-5, Pasig Dogs have many roles - guardians, beloved pets, working dogs in research work and in therapy...

WEEKENDER.
February 27, 2009... PERFORMANCES Saan ba Tayo Ihahatid ng Disyembre. Until March 15. PETA Theater Center, Eymard Dr., New Manila, QC. The audience will be taken on a psycho-emotional journey into the lives of three people - friends and lovers who get...

WEEKENDER: going out.
February 27, 2009... Byline: Sam L. Marcelo CONCERT Rubies: Gems in Philippine Performing Arts February 27, 8 p.m. Tanghalang Nicanor Abelardo, Cultural Center of the Philippines, Roxas Blvd., Pasay City The Cultural Center of the...

WEEKENDER: going out.
February 27, 2009... Byline: Jeffrey O. Valisno CONCERT Standards in Love Feb. 27, 8 p.m. Teatrino, Greenhills Promenade, Greenhills Shopping Center, San Juan At a time when the local recording industry counts on reality talent contests on...

WEEKENDER: going out.
February 27, 2009... Byline: Sam L. Marcelo POETRY/EXHIBIT Romanza Ongoing until Feb. 28 The Peninsula Manila, Ayala cor. Makati Ave., Makati Traditional Filipino poetic forms such as the diyona, dalit and tanaga can be thought of as...

WEEKENDER: staying in.
February 27, 2009... Byline: Jeffrey O. Valisno CD REVIEW Sticking By By Syato Give it to Pinoy bands for making the local recording industry much more interesting. While solo artists continue to cash in on reviving old hits and rehashing tried...

WEEKENDER: health.
February 27, 2009... Byline: Jeffrey O. Valisno If faced with the tough choice of either licking a chopping board or a toilet seat, which would you rather pick? You might be better off with the toilet seat. It has been proven that the areas that contains...

WEEKENDER: environment.
February 27, 2009... Byline: Darwin T. Wee ZAMBOANGA CITY - In his widely popular documentary An Inconvenient Truth, former US Vice-President Al Gore said the challenge of environment degradation in this generation is "not just a political issue but so much...

WEEKENDER: environment.
February 27, 2009... Byline: Romer S. Sarmiento GENERAL SANTOS CITY - An environmental rights group has added its voice in opposing the planned construction of a $450-million, 200-megawatt coal-fired power plant in nearby Maasim, Sarangani. The Legal...

Q-11 strengthens lifestyle format with new shows.
February 27, 2009... Rumors spread like wildfire a few weeks ago about plans to reformat women's lifestyle channel Quality Television (Q-11) into an all-news network similar to the ABS-CBN News Channel (ANC). But instead of spending time trying to deny the...

IN THE WORKPLACE.
February 27, 2009... Byline: Reylito A.H Elbo Our consultant recommends that we undergo team building to solve employee conflict and miscommunication between several units that pervades our organization. Do you agree with this approach? - Rose Tattoo. ...

COURTSIDE.
February 27, 2009... Byline: Anthony L. Cuaycong For the handful who were wishing for Tiger Woods to crash and burn from the get-go at the Match Play Championship, yesterday was not a good day. For the rest of the golfing world, however, yesterday could not...

GIVE AND GO.
February 27, 2009... Byline: Michael Angelo S. Murillo The local pro hoops scene turns another page as the season-ending Philippine Basketball Association Fiesta Conference fires off tomorrow. And with a number of league-wide activities and dealings during...

Canlubang Golf grabs PAL Interclub lead.
February 27, 2009... DAVAO CITY - The Country Club played consistently as expected again, but the Canlubang Golf and Country Club toured the Apo Golf and Country Club a wee bit better and their duel for the Philippine Airlines Inter- club's 62nd Men's Regular...

New rule favors plan holders.
February 27, 2009... Byline: Don Gil K. Careron The Securities and Exchange Commission (SEC) has ordered trustee banks of pre-need companies to issue checks only in the names of plan holders whenever these firms make withdrawals, to ensure the funds are used...

Stocks fizzle after gov't paints bleak picture.
February 27, 2009... Byline: Kristine Jane R. Liu Share prices failed to sustain their rally on Wednesday, retreating by 0.35% yesterday after the government lowered its growth target and raised its deficit ceiling for this year. The benchmark Philippine...

More charges filed vs Legacy.
February 27, 2009... Byline: Paolo Luis G. Montecillo and Ira P. Pedrasa THE Bangko Sentral ng Pilipinas (BSP) yesterday charged before the Justice department Legacy Group head Celso G. delos Angeles Jr. and officers of the Legacy rural banks for syndicated...

Legacy barred from selling assets without SEC approval.
February 27, 2009... Byline: Don Gil K. Carreon THE Securities and Exchange Commission (SEC) yesterday ordered six failed firms under the Legacy Group to get regulatory approval first before selling assets, to ensure that its creditors, investors and plan...

Risk aversion drives peso to two-month low.
February 27, 2009... Byline: Maria Eloisa I. Calderon The peso yesterday dove into a two-and-a-half month trough against the dollar as a British bank announcement of a record loss for 2008 heightened uncertainties over the health of the global financial...

Exportbank clears report.
February 27, 2009... Byline: Gerard S. dela Pena The Export and Industry Bank, Inc. has denied telling the central bank about the late submission of its financial report for 2008. In a disclosure to the stock exchange, Exportbank Assistant Corporate...

MoneyGram, M. Lhuillier launch remittance service.
February 27, 2009... Byline: Maria Eloisa I. Calderon Global money transfer firm MoneyGram International yesterday clinched an agreement with domestic-based M. Lhuillier Financial Services, Inc. that will allow families of Filipinos working overseas to...

Maynilad allowed to draw water from Laguna Lake.
February 27, 2009... Byline: Ava Kashima K. Austria THE LAGUNA LAKE Development Authority (LLDA) has approved in principle Maynilad Water Services Inc.'s petition to draw 300 million liters per day (MLD) from the lake in a bid to address the water shortage...

NZ luring skilled Filipinos.
February 27, 2009... Byline: Emilia Narni J. David NEW ZEALAND is positioning itself as a destination for highly skilled overseas Filipino workers (OFWs). Philip Burdon, chairman of the Asia- New Zealand Foundation, said in an interview last Wednesday...

Taiwan hires 4,445 workers in January.
February 27, 2009... Byline: Jessica Anne D. Hermosa NEARLY 4,500 Filipino workers were hired in Taiwan last month, almost making up for the number of jobs lost in the fourth quarter of 2008, the Philippine representative office in Taipei said in a statement...

Farmers in Misamis Oriental launch commercial-scale pineapple.
February 27, 2009... Byline: Geefe P. Alba SALAY, MISAMIS ORIENTAL - Small-scale farmers in this small agricultural town are currently testing the suitability of pineapple, a major export crop for Northern Mindanao, amid local conditions, specifically, in...

Tax effort target missed.
February 27, 2009... Byline: Alexis Douglas B. Romero THE GOVERNMENT failed to meet its tax effort goal last year, as revenue collecting agencies missed their targets, data from the Finance Department showed. For 2008, the tax effort, defined as the...

Bahrain bags more flights to RP.
February 27, 2009... Byline: Jose Bimbo F. Santos THE TWO-DAY air service negotiations between the Philippines and Bahrain ended yesterday with that Middle Eastern state bagging more flights. Specifically, Bahrain is now entitled to 50 weekly flights to...

Bacolod expects more revenues.
February 27, 2009... Byline: Chrysee G. Samillano BACOLOD CITY - The city government expects an increase in tax collection this year despite deferment of enforcement of an amended revenue ordinance. Ardis Jaculina, permits and licensing division head,...

VECTOR.
February 27, 2009... Byline: Sonny Coloma A priest and a taxi driver sat outside the gates of heaven to await a call from St. Peter. Surprisingly, it was the taxi driver who got the first call. He hurriedly entered to greet St. Peter and was quickly ushered...

VANTAGE POINT.
February 27, 2009... Byline: Luis V. Teodoro Almost to a man and woman, the journalists present in a press conference called by the National Union of Journalists of the Philippines (NUJP) last February 24 to rally opposition to the Right of Reply bills in...

FENCE SITTER.
February 27, 2009... Byline: Antonio R. Samson Suspense movies engage the viewer in an experience that in real life would likely sow terror and panic. But in the company of strangers in a darkened theater and the safety of not being in the situation being...

STREETWISE.
February 27, 2009... Byline: Carol Pagaduan-Araullo I craned my neck watching from the back of a packed room at that historic press conference of Vice-President Gloria Arroyo with AFP Chief Angelo Reyes who, together with other senior military officials, had...

TRADE TRIPPER.
February 27, 2009... Byline: Jemy Gatdula The Baselines Bill, which essentially re-describes to the international community what our country's territory is, arose from a rather un-mandatory requirement in the UNCLOS. There is actually an existing Baselines...

RULE OF LAW.
February 27, 2009... Byline: Augusto R. Bundang The fact that Ash Wednesday and the 23rd anniversary of the Edsa I People Power revolution fell on the same day last February 25 should at least, make us stop and think how the meaning of the two occasions tie...

CORP FILE.
February 27, 2009... Byline: Kristine Jane R. Liu More than two decades ago, Eng Bee Tin Chinese Deli sold its first ube hopia; the rest, as they say, is history. But the success of the Chinese delicacy store along Ongpin St. in Binondo, Manila was not...

Megaworld sued for changing Corinthian Hills plan.
February 27, 2009... Byline: Kristine Jane R. Liu A Homeowner of a subdivision developed by Megaworld Corp. has sued the property company for allegedly altering the design of the subdivision without their consent. In a 13-page complaint filed with the...

Mines bureau OK's permit.
February 27, 2009... Byline: Neil Jerome C. Morales The Environment department has renewed the exploration permit of a British Anglo American Plc. subsidiary for its copper and gold mine in the Cordillera, the head of the Mines and Geosciences Bureau said...

Microsoft 7 beta launched locally.
February 27, 2009... Byline: Don Gil K. Carreon Microsoft Philippines yesterday launched in the Philippines the beta version of its new operating system (OS), Microsoft 7, which will replace the heavily criticized Vista. No specific date has been set for...

Sony rolls out summer lineup.
February 27, 2009... Sony Philippines yesterday launched new models of its Cybershot digital cameras, Handycam video recorders, S-Frame digital photo frames and the iconic Walkman under its summer gadget lineup. "Sony Philippines is heralding the sun-kissed...

PSE threatens to suspend ATN trading.
February 27, 2009... Byline: Kristine Jane R. Liu The Philippine Stock Exchange (PSE) will suspend the trading of listed ATN Holdings, Inc. on Wednesday if the company fails to pay a fine in connection with a disclosure violation. "ATN's failure to...

GMA assured hydro plant will be pursued.
February 27, 2009... Byline: Carmelito Q. Francisco STA. CRUZ, DAVAO DEL SUR - Hedcor, Inc. has assured President Gloria Macapagal-Arroyo that it would pursue its Tamugan hydroelectric power plant here as soon as the National Water Resources Board resolves a...

Local officials asked to share in programs to mitigate crisis.
February 27, 2009... Byline: Geefe P. Alba CAGAYAN DE ORO CITY - Vice-mayors were asked yesterday to push locally funded economic activities as the central government implements projects under the multibillion-peso economic stimulus package. In her...

Climate change initiative targets poor.
February 27, 2009... Byline: Marites S. Villamor Representatives of donor agencies, international nongo-vernmental organizations and research institutes from over 50 countries have joined forces to help poorest communities adapt to climate change under a new...

Supreme Court asked to reverse decision on VFA.
February 27, 2009... Byline: Ira P. Pedrasa Civil society members have petitioned the Supreme Court (SC) to overturn its decision affirming the constitutionality of the Visiting Forces Agreement (VFA). "Petitioners most respectfully submit that the...

Comelec: Possible Partial Poll Automation (Senate Body OK's Budget
February 27, 2009... Failure to implement the supplemental budget by early April would force the conduct of partial poll automation in next year's general elections. In an interview with reporters, Commission on Elections (Comelec) Chairman Jose A. R. Melo said...

Bankers seeking experts' advice on mining finance.
February 27, 2009... Byline: Neil Jerome C. Morales Bankers would want a deeper understanding of the capital-intensive mining industry before venturing into financing related projects. "We have to understand the revenue drivers, the cash flows [of the...

Navy ready to add troops in Kalayaan islands.
February 27, 2009... Byline: Louella D. Desiderio The Navy is open to augmenting personnel in the Kalayaan Island Group (KIG) amid Chinese protests over the baseline bill. Navy spokesman Lt. Col. Edgard Arevalo told reporters in Camp Aguinaldo yesterday:...

ERRATUM.
February 27, 2009... The headline in Thursday's story on page S1/11 entitled "Davao City cafe and night market regaining lost ground due to natural-, man-made calamities" should have read "Cagayan de Oro...."

Government puts pressure on schools planning to raise tuition.
February 27, 2009... Byline: Emilia Narni J. David and Chrysee G. Samillano The government has upped the ante against educational institutions planning to raise tuition for the incoming school year amid the worsening economic crisis, under a recently released...

Arroyo May Veto Bill Seen to Curtail Media Freedom (House Of
February 27, 2009... Byline: Jhoanna Frances S. Valdez and Bernardette S. Sto. Domingo President Gloria Macapagal-Arroyo has threatened to veto a controversial bill that is perceived to impinge on media freedom. "The Palace will never curtail any freedom of...

Copyright piracy worsens (Lobby group claims RP once again a 'net.
February 27, 2009... Byline: Jessica Anne D. Hermosa Intellectual property theft in the Philippines has grown a lot worse, with copyright owners claiming $222 million in losses - a 25% increase - as software and record "pirates" have expanded their market...

No change in debt watchers' ratings.
February 27, 2009... Global debt watchers Moody's Investors Service and Standard & Poor's are maintaining their rating outlooks on the Philippines, saying fresh revisions in the government's official fiscal targets are within expectations. The higher deficit...

Fitch says local telcos to ride out global downturn.
February 27, 2009... Byline: Jose Bimbo F. Santos Credit watcher Fitch Ratings expects the Asia-Pacific telecommunication sector to ride out the global downturn, in the process retaining its "stable" credit outlook for local companies Philippine Long...

Businesses even more pessimistic.
February 27, 2009... Byline: Paolo Luis G. Montecillo The global economic slump has taken its toll on business sentiment, with most local firms expecting lower profits and stalled expansion and hiring this quarter, a Bangko Sentral ng Pilipinas (BSP) survey...

Stocks rise after US Fed eases banking fears.
February 26, 2009... Byline: Kristine Jane R. Liu Share prices rebounded yesterday, taking their cue from Wall Street, which rose following the US government's reassurances banks would not be nationalized, analysts said. The benchmark Philippine Stock...

COURTSIDE.
February 26, 2009... Byline: Anthony L. Cuaycong Don't do it, Boston. Don't sign Stephon Marbury. Don't get him even though you believe you have a hole in the roster that needs covering, and because he happens to be available at a financial bargain. So what...

Financial prudence proposed.
February 26, 2009... Amid the economic turmoil all around the globe, the world is turning its eyes upon Asia, towards its emerging and thriving markets. Experts believe that the region's tighter policies following the 1999 Asian Financial Crisis are now...

Veterans Bank posts P406M in net income for 2008.
February 26, 2009... Philippine Veterans Bank (PVB) reported an unaudited net income of P406.4 million for the year 2008, or a 23% decrease from the P528.6 million reported in 2007. This however still showed a reasonable 13.68% Return on Equity. PVB...

International SOS assists victims of bus crash.
February 26, 2009... As the world's leading provider of medical assistance, international health care, and security services, International SOS is assisting the Hoover Dam bus crash victims and their families. This is in behalf of China Pacific Insurance Co....

CONSUMER GUIDE.
February 26, 2009... LG unveils new Prada phone with ultra-thin slide keyboard LG Electronics (LG), a worldwide technology and design leader in mobile communications, and PRADA Group (Prada) recently introduced in Asia, China, and the Middle East Asia a new...

BRIEFS.
February 26, 2009... Book reading set OMF Literature and Museo Pambata invite children to "Booked on the Spot" on Feb. 28, 10 a.m. at Museo Pambata for a fun morning of storytelling, games and prizes. Listen to the featured story, Aruy! Magang- maga ang mga...

A taste of Europe in CdO.
February 26, 2009... Byline: Geefe P. Alba CAGAYAN DE ORO CITY - A European wine bar and restaurant has quietly opened here boosting fine dining options for visitors and residents. Located at this city's Limketkai commercial complex, La Vetta Restaurant...

Busog-guaranteed.
February 26, 2009... Byline: Johanna D. Poblete Chillax" is probably the worst coined word in current terminology, but it does convey a sense of "easy, breezy, drop your concerns in the cubbyhole by the door" kind of vibe. Bigby's has that same quality,...

ERRATUM.
February 26, 2009... A MISUNDERSTANDING resulted in three photographs being published with yesterday's article "Iconography" in this section - namely Nico Paeffgen, Cocktail Dress by Heinz Oestergaard by Herbert Tobias, Sunshine by Christian von Alvensleben, and...

One night only: Spain.
February 26, 2009... Byline: Johanna D. Poblete In accordance with formal dinner etiquette, at least until the 1940s, being the male guest of honor meant that you were served last; if you were truly hungry, it was much better to be the hostess (who would...

Prime begets prime.
February 26, 2009... Byline: Judith S. Juntilla Among the no-fail food pairings that can please almost every food and wine lover is steak and a glass of red wine. Now, as to what kind of steak and which bottle of wine are chosen is what differentiates the...

RESTAURANT ROW.
February 26, 2009... Cafe Mediterranean The Cafe Mediterranean first introduced their 'Peace Plates' menu a couple of years ago, when conflict raged in Syria and Lebanon. In light of the latest eruption of violence in Gaza, they decided to bring it back. On...

SPECIAL FEATURE: health guide.
February 26, 2009... Byline: Hannah M. Muralla Beyond the emotional agony that a troubled romance brings, women these days have a more serious reason to look after their hearts. According to the Philippine Heart Association (PHA), heart disease has...

SPECIAL FEATURE: health guide.
February 26, 2009... Byline: Anton Javier B. Dizon The heart is often portrayed as the center of the human being: It is after all responsible for keeping body alive by pumping blood to its every crevice. But like other organs, the heart has its own host of...

SPECIAL FEATURE: health guide.
February 26, 2009... Byline: Hannah M. Muralla Health Maintenance Organizations (HMOs) in the country tend to offer similar health benefit packages. Over the years, however, stiff competition in the industry and consumers' evolving needs have driven product...

SPECIAL FEATURE: health guide.
February 26, 2009... Byline: Hannah M. Muralla In the traditional model of health care, the patient is often viewed as passive and dependent on the doctor's medical expertise, and is often made to believe that he will benefit most from submitting to the...

SEC wants minimum trust fund deposit hiked.
February 26, 2009... The Securities and Exchange Commission (SEC) is considering hiking pre-need firms' minimum deposits to their trust funds to ensure these firms have enough reserves to service the claims of plan holders. In a telephone interview yesterday,...

NHMFC to offer bonds up to next month.
February 26, 2009... Byline: Maria Eloisa I. Calderon State firm National Home Mortgage Finance Corp. (NHMFC) has postponed the closing of its P2.2- billion bond offer to next month, as it buys time until aggressive corporate borrowing - partly blamed by...

Exportbank not ready with '08 financial report.
February 26, 2009... Byline: Gerard S. dela Pena The Export and Industry Bank, Inc. (Exportbank) has informed the central bank it would be late in filing its financial statement for 2008 and is ready to pay the fine for the late submission. Riva...

Peso gains 9 centavos.
February 26, 2009... Byline: Maria Eloisa I. Calderon The peso yesterday broke into the P47-to-the-dollar territory in intraday trade following a rebound in Wall Street stocks but central bank intervention kept its rise in check. The local currency...

REITs bill hurdles 2nd reading.
February 26, 2009... Byline: Bernard U. Allauigan The Senate approved on second reading yesterday a bill that seeks to create real estate investment trusts (REITs). Senate Bill No. 2639 allows investors to co-own income-generating assets through REITs,...

China Bank launches money-market UITF.
February 26, 2009... Sy-led China Banking Corp. has launched a new unit investment trust fund (UITF). In a disclosure to the Philippine Stock Exchange yesterday, the bank said it has launched a peso-denominated UITF called the China Bank Money Market Fund....

CALLING A SPADE...
February 26, 2009... Byline: Solita Collas-Monsod All the niceties were observed, all sensitivities accommodated, and both sides "saved face" - a very important Asian requirement. Bert Hofman, the World Bank (WB) country director for the Philippines, backed...