BusinessWorld (Philippines) articles from February 2012, page 16

BusinessWorld (Philippines) archives from February 2012

Aquino mulls issuance of price controls.
February 2, 2012... Byline: Johanna Paola D. Poblete ISSUING price controls on commodities is an option should there be an adverse impact from the fuel price fluctuations, but it is not necessary at this point in time, assured President Benigno S. C. Aquino III...

Korean group apologizes for turtle remains.
February 2, 2012... Byline: Joel B. Escovilla DAVAO CITY - A leader of visiting missionaries under South Korea-based Hannah International Mobilization issued a public apology a week after its members were caught throwing the head and other body parts of a green...

Prices of cooking gas rise.
February 2, 2012... Byline: Emilia Narni J. David COOKING gas prices will increase as Liquigaz Philippines Corp. announced it will hike liquefied petroleum gas (LPG) prices twice this month. Liquigaz increased prices of LPG by P5 per kilogram yesterday and...

Palace denies sending emissary.
February 2, 2012... Byline: Johanna Paola D. Poblete NO EMISSARY was sent by the Palace to convince retired Justice Serafin R. Cuevas from dropping his defense of impeached Chief Justice Renato C. Corona, President Benigno S. C. Aquino III said on Wednesday. ...

New weather data system launched.
February 2, 2012... Byline: Kim Arveen M. Patria THE UNITED NATIONS has launched an international system to improve and expand the sharing of weather, climate and water data among countries. In a statement released Tuesday, the UN said the World...

La Nina Could Result in Lower Food Prices
February 2, 2012... Byline: Kim Arveen M. Patria EASING demand and an increase in supply may lead to a decline in global food prices this year, the World Bank said, warning that oil price hikes and weather changes may pull prices back up. "Prospects for...

Sanctions known Friday.
February 2, 2012... PRESIDENT Benigno S. C. Aquino III has indicated that Presidential Adviser on Political Affairs Ronald M. Llamas will keep his job, despite the latter's embroilment in a piracy scandal. Mr. Aquino, however, admitted that administrative sanctions...

Last warning vs colorum.
February 2, 2012... A FINAL warning has been issued by the President to "colorum" vehicles and out-of-line offenders, in line with the ramped-up operations of the Metropolitan Manila Development Authority (MMDA) and the Philippine National Police (PNP). "Doon sa...

E-blotter now in use.
February 2, 2012... BACOLOD CITY - The Bacolod City Police Office is now using an electronic blotter system to record crime incidents as part of the Philippine National Police's (PNP) initiative to modernize its crime database. Under the e-blotter reporting and...

Gov't Web site launched.
February 2, 2012... THE PRESIDENT led the celebration of the 25th anniversary of the Philippine Information Agency (PIA) yesterday where the new PIA Web site (www.pia.gov.ph) was officially launched and a new technological tool in information management, the PIA...

Corona's P11-M cash advance was 'fictitious' - prosecutors.
February 2, 2012... Byline: Antonio Siegfrid O. Alegado THE P11-MILLION cash advance supposedly withdrawn by Chief Justice Renato C. Corona from a corporation owned by his wife Cristina's family was scrutinized at yesterday's impeachment trial. Securities and...

Minority bloc gets nod for agency audits.
February 2, 2012... Byline: Noemi M. Gonzales THE HOUSE minority bloc was given approval to conduct performance audits of all government agencies, the leader of the opposition group yesterday said. House Minority Leader Rep. Danilo E. Suarez (3rd district,...

Defunct project incurs P289-M losses - CoA.
February 2, 2012... Byline: Noemi M. Gonzales A NON-OPERATIONAL project of the Philippine Fisheries Development Authority (PFDA) has accumulated losses of P289 million as of 2010, state auditors said, warning of additional losses if the project is not shut down....

Calamity preparedness summit in Cagayan to tackle comprehensive plan.
February 2, 2012... Byline: Antonio Siegfrid O. Alegado A MINDANAO-WIDE disaster-preparedness summit to draw up a comprehensive and uniform safety plan for the region will kick off on Feb. 18 in Cagayan de Oro City, a lawmaker yesterday said. "The activity...

Palace formally proposes new appointments.
February 2, 2012... Byline: Antonio Siegfrid O. Alegado PRESIDENT Benigno S. C. Aquino formally proposed the designation of Ramon R. Jimenez as Tourism Secretary to a Congressional body, paving way for hearings on the Cabinet official's confirmation. An...

SPECIAL FEATURE: Energy Sector Yearend Review.
February 2, 2012... Byline: Gianna B. Villavicencio Depleting resources and troubled economies make energy a big question for many countries. Some answers may be found in national Department of Energy (DoE) programs, such as those detailed in the report "DoE: In...

SPECIAL FEATURE: Energy Sector Yearend Review.
February 2, 2012... Byline: Victoria T. Vizcarra THANKS TO THE PHILIPPINE Biofuels Law of 2006 (RA 9367), in two years all the gasoline sold and distributed in the country was composed by at least 5% ethanol. That requirement was supposed to have doubled by...

SPECIAL FEATURE: Energy Sector Yearend Review.
February 2, 2012... Byline: Eush Tayco ALTHOUGH IT HAS BEEN only a month into the new year, the government has already lined up significant projects and initiatives to improve the Philippines' energy outlook for 2012. This year, according to Department of...

Bank's closure ruled illegal (Appellate court orders BSP to reopen,.
February 2, 2012... Byline: with Neil Jerome C. Morales LAST YEAR'S central bank-mandated closure of Banco Filipino Savings and Mortgage Bank has been declared illegal by an appellate court, which ruled that monetary authorities had overstepped their authority...

Jobless rate down slightly last year.
February 2, 2012... Byline: Judy Dannibelle T. Chua Co UNEMPLOYMENT EASED to 7.0% in 2011, despite a weaker economy, from 7.3% the year before, data released yesterday showed. The National Statistics Office (NSO) said 2.814 million Filipinos were jobless last...

Personality development an edge in tough economic times?
February 2, 2012... Byline: Franz Jonathan G. de la Fuente MANY BUSINESSMEN are reportedly resorting to personality development classes to give themselves an edge amid challenging conditions. "The economic crisis has made business tougher and more...

Finance seeks higher tax take from the self-employed sector.
February 2, 2012... Byline: Diane Claire J. Jiao THE GOVERNMENT is seeking a sharp increase in income tax payments from the self-employed sector as part of a campaign to improve collection efficiency, a Cabinet official said. "We want to increase the average...

Canon to make laser printers in the Philippines.
February 2, 2012... Byline: Eliza J. Diaz JAPAN'S CANON, INC. will be building a laser printer production plant in the Philippines given an expected rise in demand, the consumer electronics firm announced on Tuesday. The multinational said it would be...

20-year T-bond rate slides on demand.
February 1, 2012... Byline: Ann Rozainne R. Gregorio STRONG INVESTOR demand for fresh 20-year Treasury bonds in the face of manageable inflation significantly pushed down the coupon rate of the debt papers at Tuesday's auction. The long-tenored bonds got a...

Peso boosted by progress in Greece talks.
February 1, 2012... Byline: Ann Rozainne R. Gregorio IMPROVED investor appetite for risky assets, fueled by some positive news from Greece, buoyed the peso against the dollar on Tuesday. After losing 22.5 centavos on Monday, the local currency firmed up by...

MasterCard wages 'war on cash'.
February 1, 2012... Byline: Diane Claire J. Jiao MASTERCARD International Philippines, Inc. will continue to wage its "war on cash" this year by pushing for the wider usage of electronic money in the country. "There is a world beyond credit cards. We are...

PSE rebounds on possible economic boost.
February 1, 2012... Byline: Franz Jonathan G. de la Fuente STOCKS recovered on Tuesday, closing higher as the market cheered news that the central bank was ready to ease policy rates anew to support economic growth. The Philippine Stock Exchange index (PSEi)...

FX trading gains buoy PBCom net income.
February 1, 2012... Byline: Ann Rozainne R. Gregorio PHILIPPINE BANK of Communications (PBCom) profits grew by nearly 17% last year, supported partly by a turnaround from foreign exchange losses and a rise in income from trust operations. In a statement of...

COURTSIDE.
February 1, 2012... Byline: Anthony L. Cuaycong To contend that Tiger Woods was not pleased with his performance in the fourth round of the Abu Dhabi HSBC Championship would be to belabor the obvious. He fully expected a podium finish last Sunday, his efforts in...

GIVE AND GO.
February 1, 2012... Byline: Michael Angelo S. Murillo Just as the Talk 'N Text Tropang Texters and the Powerade Tigers were disputing the championship of the PBA Philippine Cup last week other teams busied themselves shoring up their rosters, swinging player...

Filipino runners dominate Subic International Marathon.
February 1, 2012... ON THE SATURDAY afternoon of Jan. 21 and break of dawn on Sunday of Jan. 22, nearly 4,000 runners set foot at the lush-green and internationally accredited race course of the Remy Field of Subic Bay Metropolitan Authority to be part of the 2012...

P10.8B allotted for flood control.
February 1, 2012... THE DEPARTMENT of Public Works and Highways (DPWH) allots a total of P10.817 billion or 11% of its 2012 capital outlays budget of P99.49 billion for this year under Republic Act (RA) 10155 or the approved General Appropriations Act (GAA). ...

Carrier presents iPower inverter system.
February 1, 2012... CARRIER has recently unveiled the Carrier iPower, its latest inverter system which stands for intelligent power, that provides maximum energy efficiency and savings along with a host of intelligent cooling features. The Carrier iPower comes...

PEOPLE.
February 1, 2012... GE Philippines appoints first Filipino CEO GE PHILIPPINES announces the appointment of J. V. Emmanuel de Dios as the company's new chief executive officer (CEO), the first time after six years that a Filipino will fill in the position. Mr....

BRIEFS.
February 1, 2012... Homecoming set PAMANTASAN NG Lungsod ng Maynila (PLM) has lined up activities for this year's grand alumni homecoming on Feb. 23 to 25. The three-day event, anchored on the theme "4 na Dekada at 7, Nag-aalab Pa Rin," kicks off with a...

ONSTAGE.
February 1, 2012... Byline: Juan Antonio Lanuza Last Saturday afternoon, I attended a performance of the world's number one musical, Mamma Mia, at the Main Theater of the Cultural Center of the Philippines (CCP). The theater was almost completely filled up. Once...

ART & CULTURE.
February 1, 2012... MADE opens to entries AS PART of the celebration of Metrobank's 50th Golden Anniversary, MetroGold, the cash prizes for the Metrobank Art & Design Excellence (MADE) annual art and design competition have been increased to P300,000 per...

SOUND and FURY.
February 1, 2012... Byline: Sam L. Marcelo If Sigourney Weaver's Ripley were a rockstar instead of an intergalactic alien-ass-kicking warrant officer, she would be wielding one of Lirio Salvador's sound assemblages. These chrome instruments, called sandata...

Revenue up on improved tax collection.
February 1, 2012... REVENUES GREW at its fastest rate in over a decade last year as the government ramped up its campaign on tax collection efficiency. "In 2011, the increase of our revenues from 2010 was over 13%. This is the highest in at least over a decade,"...

Rice import application set.
February 1, 2012... Byline: Louella D. Desiderio THE NATIONAL Food Authority (NFA) has opened the application to import 187,000 metric tons (MT) of rice which can be brought in the country at a lower tariff. In a notice published yesterday, the NFA said that...

Private sector output offered as alternative benchmark to measure.
February 1, 2012... Byline: Kim Arveen M. Patria THE PERFORMANCE of the private sector is an alternative benchmark to measure economic growth, a research group said yesterday. In a forum, the Asian Centre for Enterprise Development (ASCEND) said the...

Palace support eyed to scrap carrier tax.
February 1, 2012... Byline: Antonio Siegfrid O. Alegado with Johanna Paola D. Poblete THE PALACE's formal support on a bill lifting taxes imposed on foreign carriers will be sought by the Senate in a bid to expedite its approval in Congress, a lawmaker said, a...

Rising fuel cost, purse seine ban slow frozen tuna landing.
February 1, 2012... Byline: Romer S. Sarmiento GENERAL SANTOS CITY - Rising fuel cost and a standing ban on purse seine fishing in some areas of the Pacific Ocean reduced the volume of frozen tuna landing at the fish port complex here last year, the Bureau of...

Bourse seen bullish over growth in earnings.
February 1, 2012... Byline: Franz Jonathan G. de la Fuente THE PHILIPPINE Stock Exchange (PSE) is seen to perform well this year on a projected 10%-12% corporate earnings growth, infrastructure spending and the equity market's attractiveness over other...

Pinoys getting visible online.
February 1, 2012... Byline: Kim Arveen M. Patria FILIPINOS HAVE been increasingly visible online but not to do business, a social media expert said, noting the need to redirect social media marketing efforts to the youth. In a business forum yesterday,...

EU extending P2-B grant for various projects.
February 1, 2012... Byline: Louella D. Desiderio THE EUROPEAN Union is extending P2 billion worth of grants to the Philippines for different projects this year, an official said yesterday. Hans Farnhammer, first secretary and head of development cooperation...

Cebu Pacific eyes long-haul flights to US, Europe.
February 1, 2012... Byline: Kathleen A. Martin CEBU PACIFIC, operated by listed Cebu Air, Inc., is looking to start flying to the United States, Europe, the Middle East and Oceania by the third quarter of 2013, officials yesterday said. Already, the budget...

Global-Estate Resorts swings to profit on improved sales.(Financial report)
February 1, 2012... LEISURE DEVELOPMENT firm Global-Estate Resorts, Inc. (GERI) swung to profit for the fiscal year ending September 2011 versus year-ago levels due to lower operating costs and higher total revenues for the period, a filing with the Philippine...

Ford to halt Focus assembly by Dec.
February 1, 2012... Byline: Eliza J. Diaz THE LOCAL arm of Ford Motor Co. will relocate the production of the Focus model out of the Philippines and into Thailand by December, an official yesterday said. The American automaker is currently looking into new...

Firms told to take advantage of large OFW Web presence.
February 1, 2012... Byline: Kathleen A. Martin FIRMS WERE offered up more reasons to beef up their online presence yesterday, this time with a market research firm pointing to the large presence of overseas Filipino workers on the Web as well as the growing use...

Kris Aquino sets up new company.
February 1, 2012... Byline: Cliff Harvey C. Venzon THE "QUEEN of All Media" is going into business. Kristina Bernadette "Kris" C. Aquino, the celebrity sister of the country's president, has formed a company along with four other incorporators that will...

FOX to air GMA Network's shows, films.
February 1, 2012... Byline: Kathleen A. Martin FOX International Channels, a unit of media giant News Corp., will be airing content produced by GMA Network, Inc. on the US-based conglomerate's cable channels this year. GMA Worldwide, Inc. signed a three-year...

Retail outlets readied.
February 1, 2012... THREE OUTLETS of the Japanese clothing line UNIQLO will be opened in the country this year under a partnership with the retail arm of SM Investments Corp., officials yesterday said in a briefing. This, as Fast Retailing Corp.'s UNIQLO bagged the...

Fine imposed.
February 1, 2012... RESORT DEVELOPER Boulevard Holdings, Inc. has been slapped with more than a P1-million fine for reportedly failing to submit its annual report last year. "We advise that Boulevard Holdings is assessed a monetary penalty of P1.06 million by the...

Resources determined.
February 1, 2012... NIDO PETROLEUM Ltd. has determined that it holds a resource potential of nearly three billion barrels of oil and gas in its 15 exploration sites. "Based on [a report undertaken by DeGolyer and MacNaughton of Texas], we estimate that the top 15...

Demand hiked.
February 1, 2012... DAVAO CITY - CJ Toyota Tshusho Philippines, Inc., manufacturer of coco sugar in Sta. Cruz, Davao del Sur, has increased its daily requirement for coco shells from 350 metric tons to 450. Edwin O. Banquerigo, the Trade department's provincial...

ERRATUM.
February 1, 2012... THE STORY published on Jan. 25, titled: "Oil drilling slated this week", erroneously reported that Nido Petroleum Philippines Pty. Ltd. and its joint venture partner PNOC Exploration Corp. will start drilling for oil in service contract 58. The...

NOT SO FAST.
February 1, 2012... Byline: Tito F. Hermoso Finally, the PPP bags its first winning bidder. The Ayala group will be building the four-kilometer Daang Hari toll expressway linking SLEx Susana Heights to Bacoor, Cavite. This would be a giant relief for all...

BRIEFS.
February 1, 2012... Ford Alabang is 2011 Dealer of the Year Ford Philippines recently hosted its 2012 Ford Dealer Convention, an annual gala event to recognize the achievements of its dealers and partners in 2011, which helped the company post an all-time record...

AD LIB.
February 1, 2012... Byline: Greg B. Macabenta The impeachment trial of Chief Justice Renato Corona may soon provide the citizenry and the media with a wealth of legal gambits, enough to make lawyers of us all. But, to use President Noynoy Aquino's tired cliche,...

SHOPTALK.
February 1, 2012... Non-committal retailers Will Manila Bay Resorts, the planned casino and leisure development of Japan-based Tiger Resorts Leisure and Entertainment, Inc. be a major shopping destination when completed in 2014? Probably. And insofar as local...

Gov't calls on insurgents to lay down their arms.
February 1, 2012... Byline: Johanna Paola D. Poblete THE GOVERNMENT is calling on the National Democratic Front of the Philippines-Communist Party of the Philippines-New People's Army (NDFP-CPP- NPA) to lay down arms and talk peace, warning that an escalation of...

Muslim region to establish human rights office by March.
February 1, 2012... Byline: Amilbahar S. Mawallil ZAMBOANGA CITY - The Autonomous Region in Muslim Mindanao (ARMM) is setting up a local office of the Commission on Human Rights (CHR). Governor Mujiv S. Hataman said that a technical working group headed by...

Red tide alert raised in Pangasinan after toxin found in Wawa River.
February 1, 2012... Byline: Louella D. Desiderio THE BUREAU of Fisheries and Aquatic Resources (BFAR) has warned that the Wawa River of Bani in the province of Pangasinan was found positive for red tide, making shellfish caught in that area unsafe for...

Fishkill hits Lake Sebu; 48.55 MT of tilapia lost.
February 1, 2012... Byline: Louie O. Pacardo SURALLAH, SOUTH COTABATO - A major fishkill has hit Lake Sebu in South Cotabato exacting around P3.9 million in losses to the local community as of Tuesday, a local official said. Rex R. Vargas, provincial fishery...

Two soldiers killed.
February 1, 2012... BACOLOD CITY - Two soldiers were killed while one was wounded in an encounter with suspected New People's Army (NPA) rebels Tuesday morning in Cadiz City in northern Negros Occidental. This was the latest in a series of encounters between the...

Province insurgent-free.
February 1, 2012... ILOCOS NORTE will soon join 24 other provinces declared liberated from insurgency, the military reported yesterday. A recently published Provincial Resolution no 081-2012 declared Ilocos Norte as an "Insurgency Free" province. The other areas...

Plantations impounded.
February 1, 2012... POLICE impounded three drug plantations worth an estimated total Dangerous Drugs Board (DDB) value of P11.68 million at the boundary of Sugpon, Ilocos Sur and Kibungan, Benguet on Sunday morning. Joint teams of the Provincial Anti-Illegal Drugs...

Measure urges stiffer penalties for intriguing vs honor.
February 1, 2012... Byline: Antonio Siegfrid O. Alegado A LAWMAKER yesterday formally endorsed the passage of a bill increasing penalties for persons proven guilty of accusing innocent individuals and questioning their honor. Senate Bill (SB) 3060, which...

Gov't to install warning device in Eastern Samar.
February 1, 2012... Byline: Sarwell Q. Meniano PALO, LEYTE - A Doppler radar that will provide a more accurate early warning system against disasters will be installed in Guiuan, Eastern Samar this year. Edgardo M. Esperancilla, regional director of the...

Megaworld says it received no favors from Corona or SC.
February 1, 2012... Byline: Antonio Siegrid O. Alegado THE P10-MILLION discount on the price of a condominium unit bought by Chief Justice Renato C. Corona includes reduction due to "water damage" given by seller Megaworld Corp., an official of the property...

Impeachment Case against del Castillo Could Be Junked
February 1, 2012... Byline: Noemi M. Gonzales A RANKING leader of the House of Representatives hinted at the possible dismissal of an impeachment case against Supreme Court Associate Justice Mariano C. del Castillo. Justice committee chairman Niel C. Tupas,...

Llamas denies being alleged palace emissary.
February 1, 2012... Byline: Johanna Paola D. Poblete PRESIDENTIAL Adviser on Political Affairs Ronald M. Llamas denied being the alleged emissary of Malacanang to the Iglesia ni Cristo (INC), to supposedly pressure retired Justice Serafin R. Cuevas into...

Prosecution panel mulls request for Corona's bank records.
February 1, 2012... Byline: Noemi M. Gonzales THE HOUSE prosecution panel is looking at requesting anew the Senate impeachment court to subpoena the bank records of Chief Justice Renato C. Corona and his wife after witnesses revealed that the couple bought...

Economic Indicators.
February 1, 2012... Byline: Trishia P. Octaviano Coal overtook natural gas as the country's top power source in 2010, having produced more than a third of electricity generated that year, data from the Department of Energy showed. Of the 67,743 Gigawatt hours...

Economic Indicators.
February 1, 2012... Byline: Daniel Anne Nepomuceno-Rodriguez The Philippine Stock Exchange (PSE) bested other broad market indexes last year in terms of improvement in index performance, data from the 54- member World Federation of Exchanges showed. The PSE's...

Fuel price review panel formed.
February 1, 2012... Byline: Emilia Narni J. David MEMBERS of a review panel that will study fuel pricing concerns were named by the Energy department yesterday, a development that could lead to deregulation law amendments and charges against erring oil...

Unilab launches Link-Up online facility.
February 1, 2012... UNILAB launches its first open-source program for innovations in health care through Unilab Link-Up, an online facility where innovators, suppliers, and consumers can submit their innovative ideas for new and improved health and wellness...

Paradigm shift.
February 1, 2012... Byline: Tito F. Hermoso SEPTEMBER 2004: challenged by midsize car platform-based Japanese and European crossover SUVs, General Motors (GM) introduced the Chevrolet Trailblazer to the Philippines. Detroit was riding high after 20 years of...

Ex-mayor, 2 others convicted for illegal demolition of units.
February 1, 2012... Byline: Noemi M. Gonzales THE SANDIGANBAYAN has convicted a former mayor of Rodriguez, Rizal for illegal demolition of residential units in 2002 and 2003. In a 31-page decision penned by Associate Justice Teresita Diaz- Baldos, the...

Move to overhaul Judiciary gets nod.
February 1, 2012... Byline: Diane Claire J. Jiao THE AQUINO administration's campaign to overhaul the Judiciary will be beneficial to the economy, a Cabinet official said. "The Judiciary... is supposed to be the court of last resort, the Supreme Court, in...