BusinessWorld (Philippines) articles from January 2006, page 19

BusinessWorld (Philippines) archives from January 2006

Economic freedom.
January 6, 2006... (From BusinessWorld (Philippines)) Malacanang has downplayed the categorization of the Philippine economy as "mostly unfree," saying investor confidence was increasing as a result of good governance. In a statement, Press Secretary...

10 people killed in family wars in Lanao del Sur.
January 6, 2006... (From BusinessWorld (Philippines)) Byline: Kristine L. Alave At least 10 people were slain in clashes between the private armies of two warring families in the town of Tuburan in Lanao del Sur on Thursday. A village chief in the...

Two dead, three hurt in grenade blast.
January 6, 2006... (From BusinessWorld (Philippines)) Bacolod - Two brothers were killed while their two sisters and mother were injured when they tried to dismantle a grenade they had found at the family farm, police said yesterday. One of the boys,...

Transport body vs terrorists sought.
January 6, 2006... (From BusinessWorld (Philippines)) Byline: Paul C.H. How A bill that seeks to create a Philippine Transportation Security Authority to handle criminal or terrorist attacks directed at transportation systems has been filed at the...

DA streamlining to hit workers.
January 6, 2006... (From BusinessWorld (Philippines)) Byline: Beverly T. Natividad The Department of Agriculture (DA) is set to complete its own rationalization plan by the first semester this year to make the department more efficient and responsive...

Quezon City plans 250-ha. business district.
January 6, 2006... (From BusinessWorld (Philippines)) Byline: Maricel E. Estavillo Quezon City is hoping to lure more investments via a plan to develop a modern business district on 250 hectares of prime property. Dubbed the Quezon City Central...

More weapons to boost fight vs insurgents.
January 6, 2006... (From BusinessWorld (Philippines)) The Philippines is opening tenders for $29 million worth of automatic weapons and communications equipment to boost its capability to fight various insurgencies, the defense department said yesterday....

BSP may keep rates steady sans 2005 inflation surprise.
January 6, 2006... (From BusinessWorld (Philippines)) Byline: Karen L. Lema Monetary authorities are likely to keep interest rates steady in the near term as consumer prices have risen within expectations. The government yesterday announced that...

'05 consumer price rise averages 7.6%.
January 6, 2006... (From BusinessWorld (Philippines)) Byline: Ernesto B. Calucag Despite a lower-than-expected increase in consumer prices in the last month of 2005, average inflation rate stood at 7.6% last year, higher than the 6.0% seen in 2004....

Maynilad 'reprivatization' to be finalized by June - Finance dep't.
January 6, 2006... (From BusinessWorld (Philippines)) Byline: Felipe F. Salvosa II The government expects to wrap up the sale of its 84% stake in Maynilad Water Services, Inc. by June following a public bidding this quarter, the Finance department...

Philex Gold deal.
January 6, 2006... (From BusinessWorld (Philippines)) Philex Gold Philippines, Inc. has finalized exploration deals with FEC Resources over its Lascogon and Danao properties, parent company Philex Gold, Inc. of Canada said in a statement. FEC will earn a...

Semirara buyback.
January 6, 2006... (From BusinessWorld (Philippines)) Semirara Mining Corp., the largest coal producer in the country, yesterday said it had bought back 13.8 million shares worth P384.74 million between August and December. Parent company DMCI Holdings,...

Microsoft deal.
January 6, 2006... (From BusinessWorld (Philippines)) The Philippine Long Distance Telephone Co. (PLDT) and its mobile unit Smart Communications, Inc. renewed their enterprise agreement with software giant Microsoft Corp. With the license renewal, PLDT and...

San Miguel new listing.
January 6, 2006... (From BusinessWorld (Philippines)) Food and beverage giant San Miguel Corp. yesterday listed 85,289 common shares, bringing the number of common shares listed under the long- term incentive plan for stock options to 10.59 million common...

Fugitive mutineer claims support of fellow soldiers.
January 6, 2006... (From BusinessWorld (Philippines)) Byline: Kristine L. Alave Escaped military Captain Nicanor Faeldon claimed to have visited a military camp in Palawan to court support for his cause to oust President Gloria Macapagal Arroyo. ...

University Hotel CBA.
January 6, 2006... (From BusinessWorld (Philippines)) The workers and management of University of the Philippines-run University Hotel have signed a settlement agreement on Dec. 15 to break the impasse over unresolved economic issues of the hotel union's...

2 firms' call center plans.
January 6, 2006... (From BusinessWorld (Philippines)) Iloilo City - Two companies are rethinking plans to set up contact centers here because of the unstable power supply, Mayor Jerry P. Trenas said. He declined to identify the two companies, but said one...

Travel agency forecast.
January 6, 2006... (From BusinessWorld (Philippines)) Koronadal City - A local travel agency is optimistic of tapping the South Korean tourism market as it braces for a vibrant domestic ticket sales' growth over the next few years. Francis Sablon,...

SEC approves accounting rules for unlisted companies.
January 6, 2006... (From BusinessWorld (Philippines)) Byline: Roulee Jane F. Calayag The Securities and Exchange Commission (SEC) has approved accounting rules to be adopted by unlisted firms. The standards, known as Philippine Accounting Standards...

Boracay hotel construction to be probed.
January 6, 2006... (From BusinessWorld (Philippines)) Byline: Beverly T. Natividad The Protected Areas and Wildlife Bureau of the Department of Environment and Natural Resources is set to check whether the construction of a 220-room Shangri-La Hotel in...

PAF whistle-blower to be charged.
January 6, 2006... (From BusinessWorld (Philippines)) Byline: Kristine L. Alave The Philippine Air Force (PAF) has recommended that Col. Efren Daquil, the officer who bared alleged graft practices inside the organization, undergo preliminary...

Crew's Apex purchase.
January 6, 2006... (From BusinessWorld (Philippines)) Crew Gold Corp. and its Philippine affiliate, Mapula Creek Gold Corp., formally completed their $6.6-million purchase of Apex Mining Co. last month and are set to fully take over Apex's management and...

Chipmaker taps Taiwan firm for remaining assembly job.
January 6, 2006... (From BusinessWorld (Philippines)) Byline: Maricel E. Estavillo US chipmaker Integrated Device Technology, Inc. (IDT) has tapped Taiwan-based Orient Semiconductor Electronics (OSE) to take over its remaining assembly work in the...

Smart gets regulator clearance to offer flat rates to subscribers.
January 6, 2006... (From BusinessWorld (Philippines)) Byline: Kerlyn G. Bautista Smart Communications, Inc. has jumped on the bandwagon of per-second billing for cellular phone calls after its rival Globe Telecom, Inc. plugged a similar promotion last...

JG Summit unit planning $200-million notes issue.
January 6, 2006... (From BusinessWorld (Philippines)) Byline: Ruby Anne M. Rubio JGSH Philippines Ltd., a wholly owned offshore unit of Gokongwei-led JG Summit Holdings, Inc. plans to raise $200 million through an issuance of fixed- rate notes with a...

Quezon City tells 6 IT firms to pay up as tax perks end.
January 6, 2006... (From BusinessWorld (Philippines)) Byline: Maricel E. Estavillo Six information technology (IT) company locators in Quezon City are now urged to start paying national and local taxes after their exemption expired in December. ...

BRIEFS.
January 6, 2006... (From BusinessWorld (Philippines)) Citystate licenses Citystate Savings Bank yesterday said it wants to accept foreign currency deposits as it applied for a foreign currency deposit unit (FCDU) and trust licenses before the Bangko...

Clarification.
January 6, 2006... (From BusinessWorld (Philippines)) This is in reference to the December 30, 2005 article headlined "GSIS to subscribe to Equitable PCI capital increase - Garcia." The article said: "In 2003, Banco de Oro (BDO) offered to buy the SSS...

Peso weakens after 4-day climb.
January 6, 2006... (From BusinessWorld (Philippines)) Byline: Karl Lester M. Yap After four consecutive days of appreciation, the peso yesterday "corrected" and closed lower against the dollar. "This is a much needed correction as remittances wind...

Philippine Airlines studies stopping flights to Riyadh.
January 6, 2006... (From BusinessWorld (Philippines)) Byline: Bernardette S. Sto. Domingo Flag carrier Philippine Airlines, Inc. (PAL) is looking at cancelling its Manila-Riyadh route, citing stiff competition from state-subsidized airlines. PAL...

Apprenticeship program fails to gain widespread participation.
January 6, 2006... (From BusinessWorld (Philippines)) Byline: Rommer M. Balaba The number of businesses that have participated in the government's apprenticeship programs have plateaued, and may have even dwindled, despite efforts to promote the...

Value stream mapping forum.
January 6, 2006... (From BusinessWorld (Philippines)) Deming Management Systems, a local advocate of the W. Edwards Deming Institute, is holding an executive forum on the topic, "Value stream mapping: Tools for a visually oriented 5S factory." The...

Employment prospects upbeat in growing animation industry.
January 6, 2006... (From BusinessWorld (Philippines)) The animation industry ranks high in terms of revenue-generating potential. "There is enough business for everybody, including the 25,000 new animators we hope to produce and train over a five-year...

PLDT's Net arm to press expansion.
January 6, 2006... (From BusinessWorld (Philippines)) Byline: Kerlyn G. Bautista Despite forecasts of net losses last year over its aggressive expansion, the internet cafe arm of Philippine Long Distance Telephone Co. (PLDT) will expand presence in the...

Peso rise boosts local currency placements.
January 6, 2006... (From BusinessWorld (Philippines)) Byline: Iris Cecilia C. Gonzales The peso's continued surge against the dollar has encouraged both big- time investors and ordinary depositors to convert their dollar assets into peso-denominated...

IN THE WORKPLACE.
January 6, 2006... (From BusinessWorld (Philippines)) Byline: Reylito A.H. Elbo I'm the production manager of one medium-sized private corporation. We have an employee who bears the same name as that of my husband's surname but we are not relatives....

Leisure, learning for South Forbes in Metro Sta. Rosa.
January 5, 2006... (From BusinessWorld (Philippines)) After redefining the three L's of real estate - location, location, location - to the more modern location, luxury and lifestyle, South Forbes Golf City is adding two more L's - leisure and learning....

'Demountable' office structures a new trend.
January 5, 2006... (From BusinessWorld (Philippines)) Byline: Maricel E. Estavillo Property developers are looking into a new trend in office construction that is cheaper and faster to build. For one, Ortigas & Co. Ltd. Partnership has put up a...

Landco opens Amara condos.
January 5, 2006... (From BusinessWorld (Philippines)) Amara en Terrazas, Landco Pacific Corp.'s luxury seaside condominium development at the scenic Terrazas de Punta Fuego in Nasugbu, Batangas, was recently inaugurated atop the picturesque seaside cliff...

Living large in WideLots of Portofino.
January 5, 2006... (From BusinessWorld (Philippines)) Brittany Corp. provides spacious luxurious homes at WideLots of Portofino, which is part of a 300-hectare master-planned community south of Metro Manila. Portofino evokes an Italian idyll that...

Abaca fiber weaver turns Yakan interest into profitable venture.
January 5, 2006... (From BusinessWorld (Philippines)) Byline: Darwin T. Wee Zamboanga City - It all started as a hobby until her enthusiasm in weaving abaca and pineapple fibers drove her to convert it into business. "Aside from the joy I felt...

From orchid hobby to an enterprise.
January 5, 2006... (From BusinessWorld (Philippines)) Byline: Henrylito D. Tacio In the kingdom of flowering plants, the orchid rules. The reason: there are about 25,000 species known worldwide. They are the most rapidly (genetically) changing...

COURTSIDE.
January 5, 2006... (From BusinessWorld (Philippines)) Byline: Anthony L. Cuaycong It's hard to blame New York for acting like it just claimed the championship. Even though all it managed with its triple-overtime triumph over Phoenix the other day was...

Singapore Airlines soon to fly to Moscow.
January 5, 2006... (From BusinessWorld (Philippines)) Singapore Airlines launches a three-time weekly service to the Russian Federation capital of Moscow starting this March. It will fly a three-class Boeing 777-200 aircraft on this new route. Flights will...

SM forges marketing tie-up with San Miguel, Coca-Cola.
January 5, 2006... (From BusinessWorld (Philippines)) One of the attractions that moviegoers can look forward to when the SM Mall of Asia opens is the first-ever IMAX theater in the Philippines, with one of the largest screens in the world. At 22 meters by...

RMHC to finance construction of 40 houses in Taytay.
January 5, 2006... (From BusinessWorld (Philippines)) Ronald McDonald House Charities (RMHC), the local charity arm of fastfood chain McDonald's, has turned over P2 million to Gawad Kalinga to finance the construction of 40 homes in the world's first...

BRIEFS.
January 5, 2006... (From BusinessWorld (Philippines)) EDSA photo exhibit On Feb. 15-26, photojournalist Sonny Camarillo mounts his ninth photo exhibit on the 1986 People Power Revolution. Entitled "1986 Before & Beyond - Magkaisa Muli, Talikuran na ang...

Filinvest property opens Bahia Gate.
January 5, 2006... (From BusinessWorld (Philippines)) An Asian tropical-themed gate now marks the entrance of Bahia, the first of two residential clusters being developed at Laeuna de Taal, a masterplanned lakeside community of Filinvest Development Corp....

Continental bistro fare in Ortigas.
January 5, 2006... (From BusinessWorld (Philippines)) Byline: Raoul J. Chee Kee While everyone was in the middle of the Christmas rush a few weeks ago, one businesswoman was busy overseeing the finishing touches of her restaurant at the ground floor of...

Big ideas at Cagayan de Oro's Bigby's Cafe and Restaurant.
January 5, 2006... (From BusinessWorld (Philippines)) Byline: Ellen P. Red Cagayan de Oro City - Three childhood friends - Henrik Kelly Yu, Joanna Cris Yu and Catherine Genabe - all love to sit together in a comfortable place open until the late hours...

Peso rises past P52.50.
January 5, 2006... (From BusinessWorld (Philippines)) Byline: Karl Lester M. Yap The dollar's weakness against major currencies yesterday boosted the peso and enabled it to easily break the P52.50 level, dealers said. "The peso is still on an...

DBP so far raises P5 billion from tier 2 issue.
January 5, 2006... (From BusinessWorld (Philippines)) Byline: Ma. Elisa P. Osorio State-run Development Bank of the Philippines (DBP) yesterday said it has so far raised P5 billion from its notes issuance. The bank is looking at selling P10 billion...

Edited menu is meant to click with customers.
January 5, 2006... (From BusinessWorld (Philippines)) Byline: Raoul J. Chee Kee Magnum, the wine bar at Greenbelt 2, is now under new management. Formerly under Tita Trillo of Titania Wine Cellar Inc., it is now under the hands of Primabella...

CALLING A SPADE.
January 5, 2006... (From BusinessWorld (Philippines)) Byline: Solita C. Monsod After reading the paid ad of the Consultative Constitutional Commission - or rather, its officers (one wonders, first, where the funds to pay for the ad were sourced, and...

Exportbank incurs P1.15-B loss.
January 5, 2006... (From BusinessWorld (Philippines)) Byline: Ma. Elisa P. Osorio After withholding the release of its financial statements for three quarters, Export and Industry Bank (Exportbank) finally disclosed that it incurred losses amounting to...

UPSHOT.
January 5, 2006... (From BusinessWorld (Philippines)) Byline: Bernardo V. Lopez Part One The Asian Wall Street Journal, perhaps out of curiosity, conducted a survey on who is the "happiest" among Asians. On top of the heap are the poor Filipinos...

BYSTANDER.
January 5, 2006... (From BusinessWorld (Philippines)) Byline: Dean O. de la Paz Of the years passed, the easiest to predict will be 2006 inasmuch as the signs have long been set in 2005. Here is a continuing past in the tradition of Constantino's...

THE VIEW FROM TAFT.
January 5, 2006... (From BusinessWorld (Philippines)) Byline: Aniceto B. Fontanilla Along the stretch of Roxas Boulevard, from Baclaran to Luneta, passing through the service road, one senses a distorted philosophy of land or the absence of it. This...

Air Force whistle-blower probed.
January 5, 2006... (From BusinessWorld (Philippines)) Byline: Kristine L. Alave The Air Force colonel who bared alleged graft practices and pay anomalies within the organization yesterday submitted himself to the Air Force Provost Marshal for...

Palace dismisses threats of military unrest.
January 5, 2006... (From BusinessWorld (Philippines)) Byline: Francis Y. Capistrano and AFP President Gloria Macapagal Arroyo yesterday brushed aside threats of renewed unrest in the military and rumors that one of her key allies was to abandon her,...

Appeal won't delay Luisita's agrarian reform coverage.
January 5, 2006... (From BusinessWorld (Philippines)) Byline: Beverly T. Natividad The government has started putting the 4,915 hectares of Cojuangco landholdings in Tarlac under the coverage of the Comprehensive Agrarian Reform Program (CARP). ...

STREET STRATEGIST.
January 5, 2006... (From BusinessWorld (Philippines)) Byline: Thads Bentulan Perhaps among the intangible matters that I treasure with utmost fanaticism and extreme religious zealousness is my thinking time. I treasure my thinking time with a weighty...

RP to pursue membership in United Nations bodies.
January 5, 2006... (From BusinessWorld (Philippines)) Byline: Bernardette S. Sto. Domingo The Philippines will pursue its membership application before two influential agencies of the 191-member United Nations (UN) as part of the country's agenda for...

Solon seeks creation of bird flu council.
January 5, 2006... (From BusinessWorld (Philippines)) Byline: Paul C.H. How A bill that seeks to help the country deal with possible epidemics like bird flu has been filed at the House of Representatives. House Bill 4944, authored by Ilocos Norte...

World Bank loan.
January 5, 2006... (From BusinessWorld (Philippines)) General Santos City - The World Bank has released some P76.5 million for development projects in three towns of North Cotabato under the National Government's flagship poverty reduction program. Gemma...

Balikatan exercises.
January 5, 2006... (From BusinessWorld (Philippines)) Zamboanga City - Filipino and American soldiers are set to start a civic-military exercise dubbed Balikatan 2006 in Sulu at the end of the month, American military officials said on Tuesday. Col. James...

Biodiesel stations.
January 5, 2006... (From BusinessWorld (Philippines)) Cebu City - There are already 60 gasoline stations in Metro Cebu that sell biodiesel, but only government agencies are buying. Eduardo L. Amante, chief of the Energy department's Visayas division, said...

Business permit fees.
January 5, 2006... (From BusinessWorld (Philippines)) Bacolod City - The permits and licensing division of the Bacolod City government has collected P177 million in business permit fees in 2005. Licensing Officer Ardis A. Jaculina said the amount was only...

City of peace.
January 5, 2006... (From BusinessWorld (Philippines)) General Santos City - Tourism officials in Cotabato City, one of the five cities in Central Mindanao, are repackaging the locality to attract more domestic and foreign visitors, an official said...

Infrastructure projects.
January 5, 2006... (From BusinessWorld (Philippines)) Zamboanga City - Infrastructure projects worth P125 million were completed in this city in 2005, the city hall reported yesterday. City Engineer Luis Despalo said more than P31 million worth of other...

State lawyers leave for US to face Fraport in arbitration court.
January 5, 2006... (From BusinessWorld (Philippines)) Byline: Maria Eloisa I. Calderon Government lawyers left for Washington last night for a three-week marathon trial of an international arbitration case lodged against the state by the builders of...

Court orders former cop's arrest.
January 5, 2006... (From BusinessWorld (Philippines)) Byline: Ma. Eloisa I. Calderon A Manila trial court has ordered the arrest of former police Captain Reynaldo Jaylo in connection with his setting up a defunct anti-illegal recruitment team. ...

Vizconde cop won't leave jail.
January 5, 2006... (From BusinessWorld (Philippines)) Byline: Ma. Eloisa I. Calderon A former Paranaque police investigator convicted of being an accessory in the Vizconde massacre remained adamant in staying in prison until he is exonerated by the...

Department of Housing.
January 5, 2006... (From BusinessWorld (Philippines)) Various housing agencies will have to sort their mandates in preparation for the creation of a Department of Housing and Urban Development (DHUD). The House of Representatives has approved the creation...

New Finance undersecretary, PCGG commissioner named.
January 5, 2006... (From BusinessWorld (Philippines)) Byline: Francis Y. Capistrano The Palace yesterday announced several appointments to fill vacated positions in the Finance department and Presidential Commission on Good Government (PCGG). In a...

EQUAL QUEST.
January 5, 2006... (From BusinessWorld (Philippines)) Byline: Wilhelmina S. Orozco I expected her name to be mentioned as the mentor of that famous young pianist after a concert in a city known more for its motels than for its cultural happenings. But,...

COMMENTARY.
January 5, 2006... (From BusinessWorld (Philippines)) Byline: Benjamin R. Punongbayan Effective 2005, the Philippines fully adopted all existing International Accounting Standards (IAS), also known as International Financial Reporting Standards, or...

Arrest warrants on US Marines temporarily shelved by court.
January 5, 2006... (From BusinessWorld (Philippines)) Byline: Rey Garcia and Francis Y. Capistrano Olongapo City - The judge handling the case against four American sailors accused of raping a 22-year-old Filipina has deferred the issuance of arrest...

Palace says no job movements with BCDA transfer to Trade department.
January 5, 2006... (From BusinessWorld (Philippines)) Byline: Francis Y. Capistrano Malacanang yesterday downplayed a possible revamp in the composition of the Bases Conversion and Development Authority (BCDA) and its subsidiaries following its...

Public Works taps BCDA for expressway extension.
January 5, 2006... (From BusinessWorld (Philippines)) Byline: Rommer M. Balaba The Department of Public Works and Highways (DPWH) is partnering with the Bases Conversion and Development Authority in extending the P27.4- billion Subic-Clark-Tarlac...

Six suspects in judge's murder charged at Justice department.
January 5, 2006... (From BusinessWorld (Philippines)) Byline: Ma. Eloisa I. Calderon Police investigators yesterday recommended the filing of charges against six suspects in the killing of Pasay City Judge Henrick F. Gingoyon. National Bureau of...

CLSA chosen as financial adviser for sale of state-run TV stations.
January 5, 2006... (From BusinessWorld (Philippines)) Byline: Felipe F. Salvosa II The government has picked CLSA Exchange Capital, Inc. as financial adviser for the sale of two of its three television networks, the state privatization office said. ...

New Meralco-First Gas contract to cut power cost by P0.048/kWh.
January 5, 2006... (From BusinessWorld (Philippines)) Byline: Ira May Joyce P. Pedrasa Customers of the Manila Electric Co. (Meralco) will be able to realize savings of about 4.8 centavos per kilowatt-hour (kWh) if its renegotiated contract with...

10 Taiwanese bicycle makers to build $30-M plant in Subic.
January 5, 2006... (From BusinessWorld (Philippines)) Byline: Jennifer A. Ng A cluster of 10 bicycle makers from Taiwan are eyeing to put up a maximum of $30-million manufacturing facility in Subic Bay Freeport. An official from the Subic Bay...