BusinessWorld (Philippines) articles from February 2012, page 10

BusinessWorld (Philippines) archives from February 2012

Coffee chain expands.
February 14, 2012... DAVAO CITY - Blugre Coffee Corp., which runs upscale coffee shops here and in General Santos City, signed two franchise agreements yesterday with three more expected in the coming months. The new franchisees are Jinny C. Matalam for an outlet at...

Firm doles out IP advice.
February 14, 2012... CEBU CITY - Lighthouse IP Group advised Cebuano businesses, especially manufacturing companies, to learn to protect their products by knowing more about intellectual property (IP) matters. Willem Geert Lagemaat, Lighthouse IP Group chief...

DFA to shutter 10 embassies; Palau asks for reconsideration.
February 14, 2012... Byline: Antonio Siegfrid O. Alegado THE PALAU Congress urged the Philippine government to reconsider its plan to close the country's embassy in the island nation, citing possible "detrimental" economic and political repercussions. This...

Solons Caution vs Alleged Ill-Effects of Palace-Backed Bill on Sin
February 14, 2012... Byline: Noemi M. Gonzales LAWMAKERS yesterday warned against the alleged ill-effects of a Palace-backed bill seeking to restructure the excise tax collected from alcohol and tobacco. In a press release, lawmakers at the House of...

Del Castillo expected at today's hearing.
February 14, 2012... Byline: Noemi M. Gonzales THE HOUSE committee on justice is expecting the attendance of Supreme Court Associate Justice Mariano C. del Castillo as the panel inches closer to wrapping up the impeachment complaint against the magistrate. Mr....

Ex-governor still guilty for malversation.
February 14, 2012... Byline: Aubrey E. Barrameda THE SUPREME Court (SC) has denied the appeal of a former governor of Autonomous Region in Muslim Mindanao (ARMM) to reconsider the court's decision last year declaring him guilty of malversation of public funds. ...

Gov't seeks swift agreement as talks resume in Malaysia.
February 14, 2012... Byline: Johanna Paola D. Poblete with Amilbahar S. Mawallil THE GOVERNMENT peace panel has asked the Moro Islamic Liberation Front (MILF) to expedite discussions to ink a final agreement at the resumption of peace negotiations in Kuala...

Multimillion-peso IT system at LTO set to be bid out.
February 14, 2012... Byline: Cliff Harvey C. Venzon THE DEPARTMENT of Transportation and Communications (DoTC) is set to bid out the contract of Land Transportation Office's information technology (IT) system even as its existing provider has sought for the...

63 still missing, 42 dead one week after quake.
February 14, 2012... Byline: Mariae Fracesca C. Ramos RETRIEVAL and rescue operations continued in parts of Negros Oriental one week after a strong quake hit the province. A total of 63 people continue to remain missing after a week of retrieval operations in...

Mt. Kanlaon treks suspended.
February 14, 2012... Byline: Nanette L. Guadalquiver BACOLOD CITY - The Provincial Environment and Natural Resources Office in Negros Occidental has suspended mountaineering activities at Mt. Kanlaon Natural Park (MKNP) in the wake of the strong earthquake that...

WB urges 'integrated strategies' to combat floods.
February 14, 2012... Byline: Kim Arveen M. Patria "FRAGMENTED" approaches are not likely to mitigate the impact of floods in rapidly developing cities, the World Bank said, as it urged more integrated strategies for flood risk management in Metro Manila and other...

Senate votes 13-10 to heed high court's stay order.
February 14, 2012... THE SENATE, sitting as impeachment court, yesterday voted 13-10 in favor of a Supreme Court (SC) stay order stopping the presentation of Chief Justice Renato C. Corona's alleged dollar accounts in Philippine Savings Bank (PSBank). Senate...

Palace to keep doors open to INC, CBCP.
February 14, 2012... Byline: Johanna Paola D. Poblete MALACANANG assured that it will maintain communications with religious groups despite differences in political opinion, particularly in the case of the Iglesia Ni Cristo (INC) whose members have thrown their...

Aquino to defend self in complaint.
February 14, 2012... Byline: Johanna Paola D. Poblete THE PRESIDENT said he will defend himself against an impeachment complaint - currently being readied for formal filing by the House minority bloc - over his approval of an allegedly undervalued property sale...

Anti-graft court resolves 430 cases in '11.
February 14, 2012... Byline: Noemi M. Gonzales MORE CASES were resolved by the anti-graft court last year than in 2010, a report by the Sandiganbayan said. The court disposed 430 cases last year, 74% higher than the 247 cases in 2010, data from the Judicial...

Bill seeking to criminalize illegal retention of IDs filed by Pimentel.
February 14, 2012... Byline: Antonio Siegfrid O. Alegado A LAWMAKER has filed a bill seeking to criminalize illegal retention of government-issued identification (IDs) like passport and drivers licenses in a bid to further protect the public from harassment. ...

Risks seen from rules change (Reserve revisions 'credit negative'.
February 14, 2012... RESERVE REQUIREMENT CHANGES announced earlier this month by the Bangko Sentral ng Pilipinas (BSP) are "credit negative" for some financial institutions, debt watcher Moody's Investors Service yesterday said. Key revisions such as the lowering...

Manila Cathedral not safe, to be shut for repairs.
February 14, 2012... Byline: Sam L. Marcelo BRIDES-TO-BE dreaming of walking down Manila Cathedral's aisle will have to adjust their fantasies as the church will soon be closed given concerns over its structural integrity. "Repairs are needed as soon as...

Gov't moves to retain GSP perks.
February 14, 2012... Byline: Eliza J. Diaz THE GOVERNMENT has committed to report on efforts to uphold worker and human rights in a bid to maintain export privileges granted to the Philippines by the United States. Labor Secretary Rosalinda D. Baldoz, who led...

Light rail ticketing system to be bid out soon - Roxas.
February 14, 2012... Byline: Cliff Harvey C. Venzon A PUBLIC-PRIVATE partnership (PPP) project involving a common ticketing system for Metro Manila's light railways will be bid out this year, a Cabinet official yesterday said, adding to the list of deals set to...

Concerns raised as US reviews piracy watch list.
February 14, 2012... CONCERNS over the Philippines' intellectual property rights (IPR) regime have been raised anew as the Office of the United States Trade Representative (USTR) conducts a review of an annual watch list. Slow case resolution, lax punitive...

WEALTH MANAGER.
February 13, 2012... Byline: Judy Dannibelle T. Chua Co Recommendation: Buy BROKERAGE firm AB Capital Securities, Inc. has placed a "buy" tag on Energy Development Corp. shares, citing the stock's cheap price and the company's rosy long-term revenue prospects....

WEALTH MANAGER.
February 13, 2012... Byline: Monica Joy O. Cantilero Recommendation: Buy at support FIRST Metro Securities Brokerage Corp. has advised investors to wait for Rizal Commercial Banking Corp. shares to hit the support level of P30.50 before including the stock in...

WEALTH MANAGER.
February 13, 2012... Byline: Trishia P. Octaviano Recommendation: Buy ANGPING & Associates Securities, Inc. has advised investors to buy shares in SM Prime Holdings, Inc., saying the mall developer would likely gain from an expected recovery in domestic...

WEALTH MANAGER.
February 13, 2012... Byline: Edwin V. Fernandez The country's economic performance for 2011 has been lackluster, to put it politely. In the face of faster gross domestic product (GDP) growth among our Southeast Asian neighbors in the neighborhood of 5-7%, the...

WEALTH MANAGER.
February 13, 2012... Byline: Anthony Pangilinan Was that a mid-'80s song that went, "I just can't get enough!"? Well, six weeks into 2012 and I just can't get enough... of people who continually pour themselves out, so that others may be filled, to the brim,...

WEALTH MANAGER.(Company overview)
February 13, 2012... Byline: Emilio Macasaet III "We recently concluded our annual sales conference for our distributors nationwide. Most of them complained they are now getting smaller margins (as a percent of sales) from our business. Our company has reduced...

COURTSIDE.
February 13, 2012... Byline: Anthony L. Cuaycong It doesn't get any better than this. If you're an avowed hoops fan, there's no way you can't get worked up over the sudden rise to stardom of erstwhile fringe player Jeremy Lin. That he has become a bona fide...

Asian regional football program launched in RP.
February 13, 2012... Byline: Michael Angelo S. Murillo RECOGNIZING THE progress the country has made in reviving interest in football, the Philippines has been made a launching pad of a regional football program designed to provide effective and needs-based...

CHESS PIECE.
February 13, 2012... Byline: Bobby Ang One of our regular readers, Mr. Emir Gamis, wrote me recently to ask for more opening theoreticals. I think he will be very satisfied with today's topic. Ever since someone by the name of Bobby Fischer took up the Najdorf...

Greece worries to weigh on stock trades.
February 13, 2012... Byline: Franz Jonathan G. de la Fuente STOCKS are expected to continue swinging from gains to losses this week as uncertainties over Greece's debt continue to make investors cautious, analysts said over the weekend. The Philippine Stock...

Modernization of nat'l roads set.
February 13, 2012... THE ROAD Board is installing LED street lamps and setting up more pedestrian footbridges throughout Metro Manila this year as part of its mandate to modernize all national roads to international standards. The Road Board has identified Roxas...

Nominations for Rizal Awards open.
February 13, 2012... DR. MA. Serena Diokno, chairman of the National Historical Commission of the Philippines, has announced that the nominations for the Rizal Awards are now open. The deadline for submission for the Rizal Awards nominations is on April 15. ...

Aegis PeopleSupport adopts new identity.(Company overview)
February 13, 2012... AEGIS PEOPLESUPPORT recently announced the adoption of its corporate identity to its parent organization, Aegis. The new identity, which comes into effect starting Feb. 1, is designed to reflect a global customer experience-centric company,...

CONSUMER GUIDE.
February 13, 2012... Riovana presents Saucony running shoes GET INSPIRED to run by the newest running shoes to hit the Philippine Market: Saucony. Now available at Riovana, the Sole of Running, Saucony is one of the best known brands when it comes to high...

BRIEFS.
February 13, 2012... Election announced MAA GENERAL Assurance Phils., Inc. (MAAGAP) intensifies its corporate core with the election of Ret. Justice Santiago Javier Ranada as the new non-executive chairman of the company's Board of Directors last quarter of 2011....

TAKE TEN.
February 13, 2012... Byline: Behn Cervantes She was born just before the 1950s set in with the boogie and mambo beat leading the last half of the 20th century. Now, we are approaching the 12th year of the 21st century. How time flies! Formerly young couples...

Local pride.
February 13, 2012... Byline: Camille Erika R. Sarte The Philippine Textile Research Institute (PTRI) hosted a fashion show last week showcasing local fabrics that have been in development and designers who utilized them. "The main reason [for the show]," said...

PSBank raises P3B (Sale of debt notes met by big demand).
February 13, 2012... Byline: Ann Rozainne R. Gregorio PHILIPPINE SAVINGS Bank (PSBank), thrift bank arm of Metrobank Group, raised a targeted P3 billion from the sale of unsecured subordinated notes qualifying as Tier 2 capital as it ended its offer on Thursday -...

More instruments eyed for pre-need firms.
February 13, 2012... Byline: Ann Rozainne R. Gregorio AS PART of efforts to further strengthen the pre-need industry, the Insurance Commission (IC) is finalizing plans to increase the number of instruments for pre-need firms that could provide better investment...

YIELD TRACKER.
February 13, 2012... Byline: Daniel Anne Nepomuceno-Rodriguez GOVERNMENT securities extended their rally in the secondary market last week following slower inflation in January and the likelihood of the Bangko Sentral ng Pilipinas further easing of interest...

Peso expected to trade in tight range.
February 13, 2012... THE PESO is expected to be traded within a narrow range this week, with its movement against the dollar to be dictated largely by developments in the euro zone. The local currency snapped a six-day rally against the dollar on Friday, losing...

SMEs to drive Philippine Business Bank's growth.
February 13, 2012... Byline: Ann Rozainne R. Gregorio PHILIPPINE BUSINESS Bank (PBB) targets 20-25% annual growth in its net income this year, fueled by more loans to small- and medium-scale enterprises (SMEs), its top official said. "From 2011, we see our net...

Thrift, co-op banks' bad loan ratios improve, but rural banks worsen.
February 13, 2012... Byline: Kathleen A. Martin THE RATIO of thrift and cooperative banks' non-performing loans (NPL) to their total loan portfolios improved in the first half of 2011 from the previous year, but that of rural banks worsened, the Bangko Sentral ng...

CORPORATE WATCH.
February 13, 2012... Byline: Amelia H. C. Ylagan A mud-glazed carabao glistened in the morning sun as it ceremoniously rose from its knees in the shallow pool. The batik of shadows in muted green and brown danced on the paddies in languorous step with bamboo...

FENCE SITTER.
February 13, 2012... Byline: Antonio R. Samson Not all days are triumphant. There are bad-hair days when nothing seems to be going right and our sense of self-worth is under constant attack. Humility may be good for the soul though it often comes with humiliation...

VESTIGES.
February 13, 2012... Byline: Jose S. Arcilla S. J. In 1889, Rizal wrote Mariano Ponce that, "... without 1872, Rizal would now be a Jesuit, and instead of writing Noli Me Tangere, he would have written the opposite." The bloody incident had awakened his childhood...

YELLOW PAD.
February 13, 2012... Byline: Sylvia Estrada-Claudio Sin number 1: My productivity is much diminished these days because I am addicted to watching the impeachment trial. Every boring detail. I see every bone-headed move by the prosecution at every legal victory of...

INTROSPECTIVE.
February 13, 2012... Byline: Emmanuel S. De Dios The twists and turns of the impeachment telenovela have suddenly focused the lens of public scrutiny on an obscure corner of the country's financial system - the laws on the secrecy of bank deposits. A remarkable...

BEYOND BRUSHSTROKES.
February 13, 2012... Byline: Marivic Rufino "I have noticed that the people who are late are often so much jollier than the people who have to wait for them." - E V Lucas (1868-1938) British writer and poet. The internal clock of an individual is a...

Four developers air interest in Ortigas property.
February 13, 2012... Byline: Franz Jonathan G. de la Fuente AT LEAST four developers could be pitted against each other for rights over a prime, state-owned property in the Ortigas business district, which should be auctioned off this year. Filinvest Land,...

North Harbor consortium to spend P2 billion this year.
February 13, 2012... Byline: Franz Jonathan G. de la Fuente MANILA NORTH Harbour Port, Inc. (MNHPI), the joint-venture firm of diversifying conglomerate San Miguel Corp. and Romero-owned port operator Harbour Centre Port Terminal, Inc. (HCPTI), will be spending...

Maynilad sees 2012 capex at P8.4B.
February 13, 2012... Byline: Emilia Narni J. David WEST ZONE concessionaire Maynilad Water Services, Inc. plans to spend P8.4 billion to develop water sources and upgrade facilities, the company said in a statement yesterday. The P8.4 billion in capital...

Starbucks expansion seen beyond Metro Manila sites.
February 13, 2012... Byline: Franz Jonathan G. de la Fuente RUSTAN COFFEE Corp., the local franchise holder of the international Starbucks Coffee brand, is looking to add around 10 more branches this year, targeting customers outside Metro Manila. "By the end...

Basay miner upbeat on prospects.
February 13, 2012... Byline: Bettine Faye V. Roc UNITED KINGDOM-based Copper Development Corp. (CDC) continued to find high-grade copper deposits from tests it conducted in its Negros Oriental project site, a statement released late last week showed. In assay...

Cosmetics firm shifts to drug store business.
February 13, 2012... Byline: Cliff Harvey C. Venzon COSMETICS RETAILER HBC, Inc. is set to convert a number of its stores this year into convenience stores carrying a wider selection of goods. The shift in business model should allow the company to double...

Expansion unveiled.
February 13, 2012... CEBU CITY - European information technology (IT) service company Tieto Corp. has expanded its operations in Asia with the establishment of a research and development facility within the Cebu Business Park. The facility, the first in the...

Distribution widened.
February 13, 2012... SMART COMMUNICATIONS, Inc. is stepping up distribution of smart phones to fully exploit an expected spike in demand, the company said in a statement yesterday. Giovanni R. Bacariza, head for Smart Communication's broadband Internet and data...

Procurement readied.
February 13, 2012... STATE-LED Philippine National Oil Co.-Exploration Corp. (PNOC-EC) has created three separate bidding committees in anticipation of a higher number of procurement initiatives for its projects for the year. The board of directors of PNOC-EC...

New markets targetted.
February 13, 2012... DAVAO CITY - Microsoft Philippines has stepped up efforts to reach out to small- and mid-sized entrepreneurs by teaching them how to utilize the company's products. John Bessey, Microsoft Philippines managing director, said the company is hoping...

Electronic clearing to be set up in 1st half.
February 13, 2012... Byline: Eliza J. Diaz THE PHILIPPINES will launch a unified customs electronic clearing platform in the first half, a competitiveness official said yesterday, ahead of a commitment to align it with the launch of the Association of Southeast...

Power plant to undergo rehab.
February 13, 2012... Byline: Emilia Narni J. David A HYDROELECTRIC power plant in Mindanao will be rehabilitated this year to increase its output to augment limited supply on the island, an official said last week The Energy department and the National Power...

Preparations for renewable energy tariff to resume: ERC.
February 13, 2012... Byline: Emilia Narni J. David MOVES TO prepare for a scheme that will guarantee returns to investors in renewable energy projects will resume this month after facing a legal challenge, an official said, a development seen to give the needed...

Guide for local PPP set.
February 13, 2012... Byline: Kim Arveen M. Patria A DRAFT manual has been released to encourage public-private partnership (PPP) at the local level. The draft of the document, entitled "A PPP Manual for LGUs: Understanding PPP Concepts and Framework," was...

Forest Protection Bills Drafted
February 13, 2012... Byline: Bettina Faye V. Roc BILLS ON the delineation of forest land boundaries in Region I (Ilocos) have been drafted and submitted to the Department of Environment and Natural Resources (DENR) in a bid to protect the forests. In a...

SUITS THE C-SUITE.
February 13, 2012... Byline: Roderick M. Vega Information technology (IT) has become indispensable in the 21st century. Work, in particular, has been transformed by IT. We can work faster, with more flexibility and overall efficiency. Anyone can have access to...

Arroyo's petition to attend wake dependent on RTC.
February 13, 2012... Byline: Johanna Paola D. Poblete ANY PROVISIONAL freedom being considered by the Pasay Regional Trial Court (RTC) - so that former President now Pampanga Rep. Gloria Macapagal- Arroyo (2nd district) may attend the wake and burial of her...

PNP to hunt down illegal gamblers.
February 13, 2012... Byline: Mariae Francesca C. Ramos THE PHILIPPINE National Police (PNP) announced plans to reactivate its anti-illegal gambling group to curb the reemergence of illegal activities in several parts of the country. PNP chief Gen. Nicanor A....

Low pressure area threatens retrieval operations.
February 13, 2012... Byline: Mariae Francesca C. Ramos THE LOW PRESSURE AREA (LPA) affecting several parts of Southern Luzon, Visayas and Mindanao threatened to further complicate the already difficult retrieval operations in the quake-battered province of Negros...

DoLE offices aim for ISO certification in four years.
February 13, 2012... Byline: Aubrey E. Barrameda THE DEPARTMENT of Labor and Employment (DoLE) will work on having all of its bureaus and offices certified under the International Organization for Standardization (ISO) in the next four years, the department's...

Official proposes to make Davao City a Wi-Fi zone.
February 13, 2012... Byline: Carmelito Q. Francisco DAVAO CITY - A member of the local legislative council has proposed to make the entire city a Wi-Fi zone. But Vice-Mayor Rodrigo R. Duterte, in his Sunday television program, said the problem with the proposal...

Bill amending overseas voting law gets House panels' nod.
February 13, 2012... Byline: Antonio Siegfrid O. Alegado TWO HOUSE of Representatives committees have approved a measure seeking to increase the participation of Filipinos living and working abroad during national elections. In a statement, the House said the...

Ochoa calls defense's allegations 'a desperate gimmick'.
February 13, 2012... Byline: Antonio Siegfrid O. Alegado and Johanna Paola D. Poblete THE DEFENSE panel last night denounced allegations that the Executive is convincing senator-judges to open dollar accounts of Chief Justice Renato C. Corona, notwithstanding the...

Palace denies US soldiers involved in bombing in Jolo.
February 13, 2012... Byline: Johanna Paola D. Poblete MALACANANG denied claims made by the Communist Party of the Philippines (CPP) that American soldiers were involved in the bombing and air raids in Jolo even as government peace panel chairman Alexander A....

Maternal mortality still an issue: UN.
February 13, 2012... Byline: Kim Arveen M. Patria THE UNITED Nations (UN) urged more local government initiatives to reduce the country's maternal mortality ratio, citing as an example a birth clinic project in a Mindanao. On Friday, the UN identified a...

Gov't keeps 'very good' score (Mixed ratings results on specific.
February 13, 2012... PUBLIC SATISFACTION with the Aquino administration's performance remains "very good" despite lower ratings on specific issues such as oil prices and fighting graft and corruption, the Social Weather Stations (SWS) said in a new report. A Dec....

Final PERA hurdle: administrative regulations.
February 13, 2012... Byline: Diane Claire J. Jiao ADMINISTRATIVE details needed to implement the long-delayed Personal Equity and Retirement Account (PERA) law are being worked on by the government and the private sector, an industry official said, with the...

Medical profession back in BIR's sights.
February 13, 2012... Byline: Diane Claire J. Jiao AN UNOFFICIAL moratorium on the filing of tax evasion cases against doctors has been lifted by the Bureau of Internal Revenue (BIR). "We have answered their questions and given them ample time to comply," BIR...

AmCham seeks simpler solution to airline tax row.
February 13, 2012... Byline: Eliza J. Diaz A SENATE MEASURE seeking to resolve a tax row with foreign airlines should be simplified, the American Chamber of Commerce of the Philippines (AmCham) said. The foreign business group, in a February 1 letter to ways...

Dialogues planned.
February 10, 2012... IN PREPARATION for next month's bilateral talks in Washington, United States Assistant Secretary of State for Political-Military Affairs Andrew J. Shapiro will be in Manila from Feb. 9 to 11, a media release announced yesterday. "[The meeting...

Hospital stay extended.
February 10, 2012... FORMER PRESIDENT Gloria Macapagal-Arroyo has been allowed by a Pasay trial court to stay at the Veterans Memorial Medical Center (VMMC) under the condition that a monthly report on her medical condition will be submitted, a court personnel said...

TRO issued on disclosure of foreign deposits.
February 10, 2012... Byline: Aubrey E. Barrameda with Noemi M. Gonzales THE SUPREME COURT (SC) has issued a stay order on the disclosure of foreign deposit accounts being demanded by the Senate impeachment court in the complaint against Chief Justice Renato C....

Corona maintained P12-M BPI account, says bank official.
February 10, 2012... Byline: Antonio Siegfrid O. Alegado CHIEF JUSTICE Renato C. Corona has a P12-million account in the Bank of the Philippine Islands (BPI), a branch manager of the bank told the impeachment court at yesterday's trial. This came as the...

Prudentialife awaits rehab OK (Decision eyed by June after.
February 10, 2012... Byline: Ann Rozainne R. Gregoro THE INSURANCE Commission (IC) may be able to decide by June on the corporate rehabilitation plan submitted by troubled pre-need firm Prudentialife Plans, Inc. (Prudentialife), an official said on Thursday. ...