BusinessWorld (Philippines) articles from January 2006, page 10

BusinessWorld (Philippines) archives from January 2006

Fitch Ratings starts 3-day Philippine review.
January 19, 2006... (From BusinessWorld (Philippines)) Byline: Karen L. Lema UK-based Fitch Ratings began a three-day review of the Philippines yesterday with local officials hoping that the credit risk watcher will at least revise its outlook on the...

AD LIB.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Greg B. Macabenta What's happening in the Philippines reminds me of that stage play where character upon character and plot upon plot were piled on, and there appeared to be no way a logical...

FAST FORWARD.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Argee Guevarra All the hoopla about Cha-cha is pure propaganda that favors the political interests of Gloria. Its derivative debates on parliamentary versus presidential form of government...

BYSTANDER.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Dean O. de la Paz In the United States, the classic ironic image of the Great Depression are barefooted schoolchildren in a backwater town where the largest enterprise is a shoe factory. The...

CAPITAL VIEW.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Mercedes B. Suleik There is no shortage of books and tips on leadership, effective management, teamwork, and how to succeed. A book that caught fire some years ago was Stephen Covey's 7...

POINT OF VIEW.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Juan Miguel Luz It has been six months since the abrupt resignation of then Secretary Florencio "Butch" Abad and, to no one's surprise in the sector, the Department of Education hasn't...

DHL to meet garment industry's needs.
January 18, 2006... (From BusinessWorld (Philippines)) Express and logistics firm DHL announced its readiness to meet the increasing express and logistical needs of the local garment and general merchandise industries during the 28th founding anniversary...

RP appointed BIMP-EAGA Business Council chair.
January 18, 2006... (From BusinessWorld (Philippines)) The Philippines, through the Mindanao Business Council (MinBC), welcomes 2006 with optimism as it chairs the BIMP-EAGA (Brunei-Indonesia- Malaysia-Philippines East ASEAN Growth Area) Business Council...

Maybank forges partnership with IBM.
January 18, 2006... (From BusinessWorld (Philippines)) Maybank Philippines, Inc. recently inked an agreement with software firm International Business Machines (IBM) to upgrade its hardware platform that links its Silverlake Banking Solution to an IBM...

CONSUMER GUIDE.
January 18, 2006... (From BusinessWorld (Philippines)) Roofing system Sprayed Polyurethane Foam (SPF) System is an alternative to the time- consuming and costly roof replacement. This gives a better and longer life to one's old roof as it insulates,...

COURTSIDE.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Anthony L. Cuaycong It was obvious from the first point she negotiated at the Australian Open that Venus Williams was out of shape. She had been absent from active competition since the...

BRIEFS.
January 18, 2006... (From BusinessWorld (Philippines)) North Batangas summit The First Asia Institute of Technology and Humanities (FAITH) will host the 3rd North Batangas Summit on Jan. 27. With the theme, "Calabarzon Growth Corridor: Balancing Ecology...

Three-in-one art.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Josefa Labay Cagoco Thoughtful portrayals of the urban landscape, romantic meditations on the seasons, and an affection for folkloric art are the themes of the three exhibitions by Ferdinand...

Showing the good along with the bad.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Josefa Labay Cagoco To showcase the "other Philippines" - that which has creatively dealt with corruption, overcome traditional politics, embarked on strategic initiatives to lessen poverty,...

The Karangalan schedule:.
January 18, 2006... (From BusinessWorld (Philippines)) Jan. 27: 9 a.m. Opening Ceremonies; 10:30 p.m. Lakas ng Loob and the Fight Against Societal Corruption by Fr. Alberto Alejo, S.J., Team Leader, EHEM! Jesuit Anti-Corruption Movement; 11 p.m. Artistic...

Sy group share-swap terms for Equitable scrutinized.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Ms. Elisa P. Osorio It is more beneficial for Equitable PCI Bank to base the exchange ratio on its book value and that of Banco de Oro Universal Bank instead of the option offered by Banco...

Monti exhibit at Negros Museum.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Robert Leonoras Bacolod City - Photographs of the public and architectural sculptures created by Italian sculptor Francesco Riccardo Monti, who lived in the Philippines from 1930 to 1958,...

Peso ends weaker.
January 18, 2006... (From BusinessWorld (Philippines)) The peso yesterday traded in a tight range as the market took a cautious stance, dealers said. "The peso just moved sideways. [The] trading range was very narrow. It seems the market is uncertain of...

Finance to push for transfer of pre-need watch from SEC.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Felipe F. Salvosa II with Roulee Jane F. Calayag The Department of Finance will renew its push for reforms in the pre- need sector this year, in particular the long-proposed transfer of...

ONSTAGE.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Juan Antonio Lanuza On Nov. 19 I attended a very fine concert in the Fine Arts Theater of the International School in Fort Bonifacio. The theater has comfortable seats, very good sight lines...

Corporate accounts help lift US dollar deposits.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Karen L. Lema US dollar deposits in the local banking system continued to rise in the week ending Dec. 16 due to additional resident corporate accounts and increased placements of foreign...

NOT SO FAST.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Tito F. Hermoso As an entry-level model into the world of the three-pointed star, it was an astute move. Not yet having been knighted by DaimlerChrysler to distribute the technically...

DBP sets up $10-M facility.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Ma. Elisa P. Osorio State-run Development Bank of the Philippines (DBP) said it has made available a $10-million facility for industries. In an interview with reporters, President...

No Boundaries Experience treatment for the Ford Escape.
January 18, 2006... (From BusinessWorld (Philippines)) The Ford Escape greets the new year with a new Limited Edition NBX (for No Boundaries Experience) model that offers a freshened look, the same quiet cabin and a beefy 2.3L powertrain. Less than 300 units...

Innova, Altis promo offered for January.
January 18, 2006... (From BusinessWorld (Philippines)) Toyota Motor Philippines (TMP) Corp., in cooperation with Toyota Financial Services (TFS), is making the Innova and Altis more affordable through its Number One Deals for 2006 financing promo which run...

BRIEFS.
January 18, 2006... (From BusinessWorld (Philippines)) Ayala Museum The Ayala Museum Shop is holding its inventory sale until Feb. 28, with discounts of up to 50% on products inspired by the Museum's special exhibitions and permanent collection...

First Gen net income slightly down.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Ruby Anne M. Rubio Lopez-led power producer First Gen Corp. and subsidiaries posted a marginal decrease in net income during the nine months to September ahead of its initial public offering...

Club 1 concept offers a week with the 1 Series.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Arnold E. Belleza BMW Philippines recently launched its Club 1 concept, offering a "drivestyle" experience with its 1 Series hatches for its target market of young, upwardly mobile...

PeopleSupport to transfer Rapidtext operations to RP.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Maricel E. Estavillo Nasdaq-listed call center company PeopleSupport, Inc. will transfer the operations of its recently acquired US transcription company to the Philippines over the next two...

Carlos Dominguez named Lafayette Phils. chairman (... as A$1M in new.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Beverly T. Natividad Former Agriculture and Environment Minister Carlos G. Dominguez has been named the chairman, president and chief executive of Australian-backed Lafayette Philippines,...

Jollibee buys out Greenwich partners for P384M in cash.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Ruby Anne M. Rubio The country's largest fastfood chain Jollibee Foods Corp. is buying out the remaining shares of its partners in Greenwich Pizza Corp., equivalent to a 20% stake, for P384...

Next Mobile urges telecom regulator to reduce fees.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Kerlyn G. Bautista with Roulee Jane F. Calayag Next Mobile, Inc. of The Velarde Group, Ltd. wants the National Telecommunications Commission (NTC) to cut to P7.9 million from P135.8 million...

War games protest.
January 18, 2006... (From BusinessWorld (Philippines)) Davao City - Militant groups from all over southern Mindanao have launched a protest caravan headed for Carmen, North Cotabato on Tuesday where a military exercise involving American and Philippine...

Ayala sells stake in Aon Philippines for P65.7 million.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Ruby Anne M. Rubio The country's largest conglomerate Ayala Corp. sold and transferred all its 50,600 outstanding shares of Aon Philippines, Inc. to Dutch company Aon Holdings B. V. for...

Show cause order.
January 18, 2006... (From BusinessWorld (Philippines)) Tacloban City - The Maritime Industry Authority (Marina) in Surigao is expected to issue a show cause order to the owner of the motorized banca that had capsized during a sea parade in San Ricardo town...

NPA intelligence.
January 18, 2006... (From BusinessWorld (Philippines)) General Generoso S. Senga, Armed Forces chief of staff, yesterday ordered all ground commanders to step up their intelligence efforts against the communist New People's Army and the al Qaeda-linked Abu...

District collections.
January 18, 2006... (From BusinessWorld (Philippines)) Bacolod City - All revenue district offices in the provinces of Negros Oriental and Negros Occidental exceeded their target collections last year. Esmeralda Tabule, officer-in-charge of Bureau of...

Bicycle lanes.
January 18, 2006... (From BusinessWorld (Philippines)) Davao City - The city government will set up bicycle lanes to help commuters and declog the main streets of traffic. Vice-Mayor Luis Bonguyan said a feasibility study on the bicycle lanes would soon be...

Bourse says 25M SM Investments shares freed up.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Ruby Anne M. Rubio The Philippine Stock Exchange (PSE) said 25 million SM Investments Corp. shares have been freed up from a lockup starting yesterday. In a circular, PSE said the trust...

House committee okays constitutional amendments.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Paul C.H. How and Jun P. Tagalog The House constitutional amendments committee yesterday adopted proposed changes to the 1987 Constitution, which congressmen are expected to debate soon. ...

US rejects RP request for custody of Marines in Subic rape case.
January 18, 2006... (From BusinessWorld (Philippines)) Washington has refused to hand over custody to Manila of four US Marines charged with raping a 22-year-old Filipina. The US embassy in Manila said it would keep custody of the accused - American...

Council of state meet to proceed.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Judy T. Gulane and AFP President Gloria Macapagal Arroyo will push on with a high-level political meeting despite a snub from key opposition figures, her aides said yesterday. The...

Syndicate threatens business environment in Batangas.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Kristine L. Alave Local and multinational companies in the Batangas Bay area have complained about having been routinely victimized by a local robbery gang whose operations, they said, have...

P1.6B allocated for contractors.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Rommer M. Balaba The Department of Public Works and Highways (DPWH) has allotted P1.565 billion to pay contractors in the first quarter, as the agency continues to update its portfolio of...

Retirement scheme bill nears approval in Senate committee.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Francis Y. Capistrano and Iris Cecilia C. Gonzales The Senate banks committee is close to approving the proposed Personal Equity Retirement Account (PERA) law, which provides for a tax-free...

Areas outside main power grid set for sale.
January 18, 2006... (From BusinessWorld (Philippines)) Due diligence for the sale of coverage of still-unprivatized areas not attached to the main power grid will start this month, the Department of Energy (DoE) said in a statement yesterday. DoE said...

New export markets needed to rebound.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Jeffrey O. Valisno Development of new markets for the country's products - besides diversifying the focus of exports - is crucial to ensuring a rebound of the country's merchandise exports...

PLDT, MobileOne enter cellular phone deal.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Kerlyn G. Bautista The Philippine Long Distance Telephone Co. (PLDT) yesterday said it had signed a deal with MobileOne, Ltd., the third largest mobile operator in Singapore, to provide...

Siemens aims to double staff in QC call center.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Jennifer A. Ng Siemens, Inc. yesterday said that is eyeing to double the work force in its new call center in Quezon City by yearend. The company yesterday launched its new information...

Grayline Plans can get license if trust fund okay.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Roulee Jane F. Calayag The Securities and Exchange Commission (SEC) yesterday said it would renew the dealer's license of Grayline Plans, Inc. if the firm addresses its trust fund...

Tanduay to secure P5-B financing for capital needs.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Ruby Anne M. Rubio Tanduay Distillers, Inc. is seeking up to P5 billion in long-term financing for capital expenditure, or general corporate requirement. A company official, who...

Agrarian reform picket.
January 18, 2006... (From BusinessWorld (Philippines)) Bacolod City - About 400 members of Task Force Mapalad (TFM) Southern Negros have been holding a picket in front of the Department of Agrarian Reform (DAR) office here since last Sunday. Armando Hilario,...

Gov't open to a new lease for Las Pinas property.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Jennifer A. Ng The government said it is open to negotiating for a new lease agreement over an 18-hectare property in Las Pinas where tire marker Goodyear Philippines. Inc. operates. ...

Swift to press for amicable settlement on feeds bills.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Roulee Jane F. Calayag Swift Foods, Inc. yesterday said it will work out an amicable settlement with San Miguel Foods, Inc. over a P126.18-million collection case. "The process will be...

Meralco says P85.3-billion tax due allegation baseless.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Ira May Joyce P. Pedrasa Allegations that it owes the government as much as P85.3 billion in taxes are baseless, the Manila Electric Co. (Meralco) yesterday said. The power firm said it...

People's initiative to change charter doubted.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Francis Y. Capistrano Senators yesterday doubted the viability of a people's initiative as an alternative route to amend the Constitution. Senator Miriam Defensor Santiago said the...

Davao City's first call center to hire additional employees.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Carmelito Q. Francisco Davao City - With a plan to go full blast this year, the city's first call center has announced hiring additional employees to fill up seats. G-Com Ltd., operated...

Prosecution wants to finish Erap trial.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Ma. Eloisa I. Calderon Government prosecutors are seeking an end to the Sandiganbayan's hearing on the plunder and perjury cases against former President Joseph E. Estrada. In a 26-page...

Finance chief gets extra powers.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Judy T. Gulane Finance Secretary Margarito B. Teves may now transfer or reassign presidential appointees to the Bureau of Customs, irrespective of their original designations or assignments....

New impeach raps 'defective,' says House Majority Leader.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Paul C.H. How and Maria Eloisa I. Calderon An impeachment complaint against President Gloria Macapagal Arroyo filed last Monday would not be recognized as a legitimate complaint due to its...

APEC members pledge to fight corruption.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Bernardette S. Sto. Domingo Representatives of member economies of the Asia Pacific Economic Cooperation (APEC) yesterday agreed to boost anti-corruption measures in the region by drafting...

DOWNSOUTH.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Hernani P. de Leon Davao City - Mindanao used to be solidly behind the proposal to revise the Constitution. The objective was almost full autonomy through a federal system. In recent months,...

Tourism challenge.
January 18, 2006... (From BusinessWorld (Philippines)) Davao City - The ASEAN (Association of Southeast Asian Nations) Tourism Forum will look into how the region could respond to natural and man-made crises. Susana del Mundo, the forum's committee...

Tourist portal.
January 18, 2006... (From BusinessWorld (Philippines)) Davao City - The ASEAN (Association of Southeast Asian Nations) Tourism Association (ASEANTA) has tapped a German information technology company to come up with an internet portal that will allow...

Airport loan.
January 18, 2006... (From BusinessWorld (Philippines)) The Manila International Airport Authority (MIAA) is asking the consortium of banks led by the Development Bank of the Philippines to extend a $300-million loan to the authority without seeking a...

Academy property.
January 18, 2006... (From BusinessWorld (Philippines)) A senator yesterday urged the Development Academy of the Philippines (DAP) to sell its training center in Tagaytay to provide funds for the government-owned educational and consultancy institute. During...

PICOP belies plant source of cancer-causing air emissions.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Ruby Anne M. Rubio PICOP Resources, Inc. lashed back at Bislig City Health Officer Brenda M. Estrella whose study blamed the publicly listed firm's pulp mill operations as the source of...

Stocks regain ground on blue-chip trading.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Ruby Anne M. Rubio The bellwether Philippine Stock Exchange composite index (Phisix) regained lost ground after investors accumulated shares in blue-chip companies. Jose Vistan, Jr.,...

'Hot money' outflow starts 2006.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Karen L. Lema The local investment scene got off to a negative start as funds managers began cashing in on gains, resulting in a net portfolio outflow in the first week of January. Data...

Proposed income tax rate hike for high wage earners nixed.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Paul C.H. How Two industry groups oppose proposals in the House of Representatives to increase income tax rates for high-salaried individuals. In yesterday's House ways and means...

Tourism use of geothermal sites regulated.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Ira P. Pedrasa The Department of Energy (DoE) will release by March guidelines to ensure sustainable use of geothermal resources for tourism facilities like resorts and spas. Energy...

Electricity mart's commercial operations moved to March.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Ira May Joyce P. Pedrasa While trial operations for the wholesale electricity spot market (WESM) have been completed, in principle paving the way for its commercial operations originally...

Pharmaceutical firm to sell medicine versus avian flu.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Jennee Grace U. Rubrico Multinational drug firm GlaxoSmithKline Philippines is bringing its influenza medicine to the country to help prepare for a possible pandemic of bird flu, the firm's...

Build institutions that ensure sustainable growth, RP told.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Jeffrey O. Valisno Developing countries like the Philippines should rely more on building institutions that ensure a free market environment to spur economic growth, rather than focusing on...

Biosafety pact to cost consumers.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Beverly T. Natividad The country's ratification of an international agreement regulating trans-boundary shipments of genetically modified agricultural products will cost both farmers and...

Fertilizer scam.
January 18, 2006... (From BusinessWorld (Philippines)) A former Agriculture official who is being linked to the P728-million fertilizer scam has asked the Supreme Court to stop the Senate from having him arrested. Former Agriculture Undersecretary Jocelyn...

Reforms crucial for RP (Policy tools not limited to monetary,.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Felipe F. Salvosa II Because global investors can always turn their attention to other more lucrative destinations, the Philippines should maintain the pace of its economic reforms if it...

PhilPost hikes rates due to VAT.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Maricel E. Estavillo Government-owned Philippine Postal Corporation, also known as PhilPost, increased its rates this week in the wake of a stricter tax program being implemented by the...

PDIC rejects Al Amanah plea for P400-M credit line.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Paolo Joseph L. Lising The financial rehabilitation of debt-saddled Al Amanah Islamic Investment Bank of the Philippines has hit another snag after the bank's request for P400-million credit...

LET'S TALK EUROPE.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Henry J. Schumacher I recently came across an article written by Hal Hill, called "The Philippine Conundrum." He asked a valid question: "What ails the Philippines? Why does this country,...

SMEs gain from volunteer adviser program.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Iris Cecilia C. Gonzales Former government officials and established businessmen are helping the country's small and medium enterprises (SMEs) by providing expert advice through a volunteer...

T-bond rates hit new lows.
January 18, 2006... (From BusinessWorld (Philippines)) Byline: Karl Lester M. Yap Excess market liquidity drove interest rates of long-term government securities down yesterday, with the rate of the 10-year Treasury bond hitting an all-time low. ...

Foreign retirees identify Philippines as 'retirement haven' - PRA report.
January 17, 2006... (From BusinessWorld (Philippines)) More and more foreign retirees choose the Philippines as their "retirement haven," figures from the Philippine Retirement Authority (PRA) show. PRA is a special government agency whose mandate is to...

Gov't employees lobby for better workplace safety.
January 17, 2006... (From BusinessWorld (Philippines)) Government employees are pressing for more occupational safety in the workplace following the recently reported panic by employees of the Department of Environment and Natural Resources (DENR) NCR and...