BusinessWorld (Philippines) articles from June 2000

BusinessWorld (Philippines) archives from June 2000

WEEKENDER: Dear Editor: In defense of HMOs.
June 30, 2000... I am a physician practicing in Makati and Greenhills and I would like to write something in defense of HMOs that have been constantly under attack by some of your writers. My own practice is primarily one where my patients pay out of...

VMC management continues to push for rehab plan okay.
June 30, 2000... The battle for jurisdiction over the rehabilitation of cash-strapped Victorias Milling Co. (VMC) continues to rage as its management again asked the Securities and Exchange Commis-sion (SEC) to consider its alternative rehabilitation plan...

Supreme Court keeps Lapid in office.
June 30, 2000... The Supreme Court (SC) allowed yesterday Pampanga governor Manuel M. Lapid to stay in office, rejecting government lawyers' appeal for the implementation of the Ombudsman's one-year suspension order on him. In a resolution, the court denied...

EDSA pipe repair to start.
June 30, 2000... The state-run National Power Corp. (Napocor) starts tonight repair works on a pipeline which had leaked oil on EDSA. "The public are therefore advised that only one lane of the road from Estrella to Buendia Avenue will be opened to traffic as...

Sino vessels in Spratlys.
June 30, 2000... Military has spotted 11 foreign fishing vessels near Manila-claimed reefs in the disputed Spratly Islands in the South China Sea. In a report, the Armed Forces' Western Command said seven Chinese vessels were spotted fishing near Ayungin...

New construction rules.
June 30, 2000... The Department of Environment and Natural Resources (DENR) is now requiring all real estate developers and contractors to conduct geological studies before undertaking real estate or infrastructure projects. DENR said all contractors must be...

Gov't charges 'Love Bug' author for theft, fraud.
June 30, 2000... The National Bureau of Investigation (NBI) filed yesterday criminal charges against the author of the "Love Bug" computer virus, after a two-month investigation. In a complaint submitted to the Department of Justice (DoJ), NBI director...

OIC seen favoring Misuari - Palace.
June 30, 2000... Malacanang admitted yesterday the Organization of Islamic Conference (OIC) may sympathize with Autonomous Region in Muslim Mindanao (ARMM) governor Nur Misuari over the implementation of the govern-ment's 1996 peace agreement with Moro...

Abu seen releasing hostages.
June 30, 2000... Government negotiators expect Abu Sayyaf members in Jolo, Sulu, to release more hostages "within the next two days," a military official said yesterday. Quoting Sulu governor Abdusakur Tan, Armed Forces of the Philippines Southern...

ARMM provinces' four governors blame Misuari for slow dev't in region.
June 30, 2000... The governors of four provinces composing the Autonomous Region in Muslim Mindanao (ARMM) are blaming regional governor Nur Misuari for the lack of development in Mindanao. In a letter dated June 19, the local officials asked President...

Peace agreement hangs as talks reach deadline (Gov't negotiations with MILF).
June 30, 2000... The government decides today whether it will extend its deadline for peace negotiations with Moro rebels belonging to the Moro Islamic Liberation Front (MILF). Press Secretary Ricardo V. Puno, Jr. said the Palace is keeping open options...

How to build a world-class exhibition in Metro Manila.
June 30, 2000... At the soon-to-open Nescafe Exploratorium 2000 is an exhibit module called "How Do They Do That?," which will display how things such as coffee and milk are made. One interesting question crops up: How do they build a world-class exhibit? ...

Nextel awaits NTC linkup rules.
June 30, 2000... If there is any local telecommunication service provider that ardently awaits National Telecommunication Commission's (NTC) linkup regulations the most, it is trunked radio operator Nextel Communications Phils., Inc. The company, which...

Virtual private network now in the Philippines.
June 30, 2000... Bayan Telecommunications, Inc. (BayanTel) recently launched the first virtual private network (VPN) commercially available in the Philippines. VPN offers corporations and service providers a secure, liable, and cost-effective means of...

Asian Hospital secures loan to put up medical center.
June 30, 2000... Asian Hospital, Inc. signed a P600-million syndicated loan agreement with three banks for the construction of its hospital in Filinvest Corporate City (FCC) in Alabang, Muntinlupa City. The Development Bank of the Philippines (DBP), Land...

Small cable companies left out in convergence trend.
June 30, 2000... While the convergence buzzword automatically point at cable companies' broadband infrastructure, it appears this terms applies differently between big cable and small cable firms. Mom and pop cable operators are not likely to be easily...

Peso Cross Rates as of June 29, 2000.
June 30, 2000... one unit Phil Aussie Bahrain Cndn French of currency peso dollar dinar dollar franc Philippines 1.0000 0.0385 0.0087 0.0343 0.1614 Australia 25.9557 1.0000 0.2270 0.8901 4.1894 Bahrain 114.3604 4.4060 1.0000 3.9216 18.4586 ...

BSP Reference Rates as of June 29, 2000.
June 30, 2000... Equivalent Equivalent Equivalent of foreign of US$1 of foreign currency in in foreign currency in Currency US Dollar currency RP peso Convertible currencies with BSP US dollar 1.000000 1.000000 43.115000 Japanese yen 0.009477...

SPECIAL FEATURE: Dining: Marathon dining at The Pen.
June 30, 2000... The Peninsula Manila is more than just one of the finest hotels in Metro Manila. It also has a reputation for offering culinary delights that satisfy any taste and preference. Each of the hotel's restaurants - The Lobby, The Upper Lobby,...

Philippine Stock Exchange as of June 29, 2000.
June 30, 2000... Stocks Volume High Low Close BANKS & FINANCIAL SERVICES Banks Bank of the Phil. Islands 249,400 79 78 78.5 Chinatrust (Phils.) 50,000 9.6 9.6 9.6 Equitable PCI Bank 145,200 44.5 44 44 First e-Bank 40,000 2.28 2.26 2.26...

WEEKENDER: It's Cinemanila time again.
June 30, 2000... Some of the films showing at Cinemanila 2000: Lithium is billed as being by Sweden's youngest ever director, David Flamhole, and Flamhole does show the extreme restlessness-not to mention the extreme recklessness-of the very young, with...

WEEKENDER: On a big boat to China.
June 30, 2000... It's 6 a.m. and the sun is rising behind us to port. At the Galaxy, the sound of piped-in disco is incongruous with the atmosphere - overstuffed chairs, the occasional clink of spoon on china as the early morning risers have their first...

WEEKENDER: HEALTH SYMPOSIA.
June 30, 2000... ASTHMA. Research results released last year in Australia from a study done at Victoria University in conjuntion with the Buteyko Institute demonstrated that all asthmatics have a common problem - chronic overbreathing. The symptoms of asthma...

WEEKENDER: Travel Trade East: Manila may soon lose its glitter.
June 30, 2000... It is hyped as "the most modern and biggest port in the Far East," and it is going to be in Batangas City. Construction of the international port is well under way, with its P1.4-billion Phase I already completed and its P5.7-billion...

WEEKENDER: Health Economics: The HMO name game.
June 30, 2000... With the recent change in HMO name by the former Omnicare to the now fresh-sounding StarHealth, HMO client corporations would have another difficult time distinguishing one HMO from another. With a whole bunch of HMOs on the bankruptcy...

WEEKENDER: The Medium & the Message: A splendid balancing act for Viva water.
June 30, 2000... One of the basic data that an advertising account manager includes in a creative brief is a comprehensive description of the brand personality of the product that he is intending to sell. Quite often, when the account manager wants to be...

WEEKENDER: Visions of golf (PROPERTY: Riviera Golf finds a unique solution to its cash problems).
June 30, 2000... The town of Silang in Cavite may be known for its fine agricultural produce such as coffee, pineapples and coconuts but it doesn't have much to show for in the tourism department. Although it is the largest town in Cavite and considered...

WEEKENDER: THE MUSLIMS OF MANILA.
June 30, 2000... Have you seen that tall building in Fort Bonifacio? "It's one of the few structures that could be seen standing from a short distance, say from C-5 in the east or from McKinley Avenue in the west," said 32-year-old Manny in Tagalog. "I...

WEEKENDER: Tripping the light fantastic.
June 30, 2000... MULTIMEDIA Hypervisual 1.2 - Design in Light Enchanted Kingdom Opening on July 1 at the Discovery Workshop of Enchanted Kingdom in Sta. Rosa, Laguna, is Hypervisual 1.2 - Design in Light. The exhibit will showcase holographic...

WEEKENDER: Let the music play on.
June 30, 2000... THEATER They're Playing Our Song Book by Neil Simon Music by Marvin Hamlisch Lyrics by Carole Bayer Sager Directed by Steven Dexler Singapore Repertory Theater AFP Theater Filipino artists usually scoff at...

German band's concert aired over radio.
June 30, 2000... Fans of the German vocal group Trademark can listen to Campus Radio 97.1 LS-FM, today, 9 p.m. and catch the broadcast of the band's concert at the Hard Rock Cafe held last week while it was in the country promoting its new album, Only Love...

TCM focuses on Greta Garbo movies in July.
June 30, 2000... In July, TCM Turner Classic Movies pays tribute to Greta Garbo as Star of the Month by featuring eight of her best films including Grand Hotel (1932), Queen Christina (1933), Anna Karenina (1935) and Mata Hari (1932). Greta Garbo was the...

Editorial: Take Ten: Cultural surplus.
June 30, 2000... The ballyhoo being created about Miss Saigon in Manila is the height of colonial mentality. I don't deny the musical has sentimental value for Filipinos because English producer Cameron Mackintosh publicized his search for the leading lady...

Investor's visa suspended.
June 30, 2000... The Bureau of Immigration has temporarily suspended the processing and issuance of special investor's resident visa (SIRV) until it is able to adopt more effective measures to limit this to legitimate foreign investors. SIRV allows...

Oil companies all set to raise pump prices.
June 30, 2000... Retail prices of fuel products may be adjusted by about P1.30 a liter tomorrow, Saturday, after a scheduled meeting between President Estrada and the executives of oil companies in Malacanang today. Energy Secretary Mario V. Tiaoqui said...

Peso weakens further on new economic concerns.
June 30, 2000... Local economic concerns, particularly the soon-to-increase oil prices and prospects of slower growth, dragged the peso down to P43.17 vis-a-vis the US dollar, as the market turned to local leads after the Federal Reserve decided to leave US...

Mindanao crisis affecting budget work, rice output.
June 30, 2000... The conflict in Mindanao is apparently giving rise to new problems for the Estrada administration, BusinessWorld interviews with different officials yesterday indicated. Among these problems is a possible delay in the submission of the...

DoT chief seeks active LGU role in tourism drive.
June 30, 2000... CEBU CITY - Tourism Secretary Gemma Cruz-Araneta is urging local government officials to prioritize and take on a more active role in tourism development and management. In a paper distributed among local government officials attending a...

NTC approves PhilWeb.Com's Internet services.
June 30, 2000... Newly formed PhilWeb.Com, Inc. is now a full-fledged Internet firm after the National Telecommunications Commission (NTC) has given its approval on the company's application to venture into the Internet sector. In an interview with...

Business Case Law: Benefit of excussion.
June 30, 2000... A contractor borrowed from respondent P150,000 at a monthly interest of 5%, executing for that purpose a promissory note of the following tenor: "June 22, 1987 "To whom it may concern: "For value received, I hereby promise to...

DFNN public listing bid OK'd.
June 30, 2000... The board of the Philippine Stock Exchange (PSE) has thumbed up financial firm Diversified Financial News Network's (DFNN) bid to offer its shares at the public market even as it mulls the creation of a board for technology stocks. DFNN,...

PLDT signs e-cash accord with Visa, NETS, Compaq.
June 30, 2000... Telecommunications giant Philippine Long Distance Telephone Co. (PLDT) is positioning to secure a large chunk of the electronic commerce (e-commerce) business in the country as it has forged another joint-venture arrangement with systems...

Apex Mining in debt-swap agreement with Manilabank.
June 30, 2000... Puyat-controlled Apex Mining Co.,Inc. has agreed with a creditor to convert P300 million in loans to common stock to repay obligations, an official of the company said. In a stockholders meeting held last Wednesday, Raymund Puyat,...

Napocor still undecided about contract with Impsa.
June 30, 2000... State-run National Power Corp. (Napocor) remains undecided whether it will give more time for Argentinian-owned Impsa Asia Ltd. to close its financing or cancel the contract due to the absence of the Department of Justice (DoJ) opinion. ...

GMC, Alaska Milk Corp. still at odds over Uytengsu retirement benefit.
June 30, 2000... The raging corporate dispute of General Milling Corp. (GMC) and Alaska Milk Corp. spilled over to the issue of retirement benefits of one of its ranking officials. After accusing each other of violating their stock-swap agreement to...

Business sector still doesn't see gov't direction.
June 30, 2000... It may take a little longer for the government to impress on the business community that it has satisfactorily addressed concerns on the supposed lack of direction of the Estrada administration despite the creation of the high level Economic...

LGUs must tap 'innovative ways' to meet funding needs.
June 30, 2000... CEBU CITY - An official of the Department of Interior and Local Government (DILG)has urged city and municipal officials throughout the country to tap the capital markets and consider other "innovative" ways of raising funds for their various...

Interim agreement adequate for renewed RP-Taiwan talks.
June 30, 2000... The Philippines must convince the Taiwanese government to go back to a previous interim agreement before it considers initiating another round of talks on a new air services agreement, a Civil Aeronautics Board (CAB) official said. CAB...

Solons to approve limits on brokers' dealings.
June 30, 2000... Senators and congressmen negotiating amendments to the Revised Securities Act (RSA) have agreed to adopt the Senate version of the bill insofar as it bars brokers from dealing for their own accounts. Senator Raul S. Roco, principal author...

Taxwise or Otherwise: Audit program for large taxpayers.
June 30, 2000... The Commissioner of Internal Revenue recently issued Revenue Memorandum Order (RMO) No.18-2000 prescribing the policies and guidelines to improve the quality of audits of large taxpayers. This is in order to enhance voluntary compliance by...

Drop in competitiveness a matter of perception.
June 30, 2000... Socioeconomic Planning Secretary Felipe M. Medalla yesterday downplayed the results of an international survey showing a decline in the Philippines' overall competitiveness ranking, saying it is more a matter of perception rather than a...

Tax rates based on prices that are 'obsolete' - Medalla (Legislation needed to amend excise tax on 'sin' products).
June 30, 2000... The net retail prices used as the basis for the imposition of excise taxes on "sin" products are "out-of-date" and need to be amended, Socioeconomic Planning Secretary Felipe M. Medalla yesterday said. Mr. Medalla, however, said that the...

Chess Piece: The First Philippine Chess Classic.
June 30, 2000... It is all systems go for the First Philippine Chess Classic, a grandmasters invitational chess tournament. The tournament will start on June 30. The laying venue is the Ramon Magsaysay Hall, second floor, Social Security System Building, East...

Anglers return to billfish tilt.
June 30, 2000... Anglers return to the Cagayan billfishing Mecca for the fourth time this year, this weekend until Monday, for the Toots Echauz Billfish Tournament at the Don Andres Soriano, Jr. Sports Fishing Camp in San Vicente, Cagayan. Judes Echauz,...

Young accountant surprise winner in chess finals.
June 30, 2000... Arnel Laluces, a young accountant of Carmeo Brokerage, beat Angelito Adoptante of Interdent Laboratories in the finals to emerge as the surprise champion in the Crown section of the 2000 Philippine Executive Active Chess Express (PEACE 2000)...

Courtside: Resurrecting Greg Norman.
June 30, 2000... Greg Norman loves competing in the British Open, and who can blame him? After all, both his major championships have come courtesy of the Royal & Ancient Golf Club, his competitiveness in the tournament underscored by the way its links-type...

SMB, Tanduay Gold seen giving impressive starts (PBA Commissioners Cup).
June 30, 2000... Games Today (Ynares Center) 5:15 p.m. - Red Bull vs. Shell 7:30 p.m. - Ginebra vs. Purefoods Is San Miguel Beer winning because it has been facing lightweight opponents? Or is it simply because its import, Stephen Howard, is just...

Australian system to unravel Metro Manila traffic, hopefully.
June 30, 2000... (First of two parts) Something Australian has hit the streets lately, and we are not talking about screaming headlines on the government's beef with Aussie meat. Apart from diggings by water concession-holders to extend water...

Newspoint: A letter from Chino.
June 30, 2000... Chino Roces, gone for 12 years now, would have turned 87 yesterday. I was reminded of that by an invitation to Thursday's annual awards of the foundation established in his honor. The awards are given annually, in prior years at around...

BankAccounts: Wanted: Good speech writer for Pardo.
June 30, 2000... While some lauded the decision of global fund manager Templeton Asset Management Ltd. to publicly oppose the stock rights plan of the Philippine National Bank (PNB), some finance officials are asking, "Why only now?" BankAccounts learned...

Insurance firms shift to dollar investments.
June 30, 2000... The insurance sector last month took a more conservative tack as most companies invested heavily in fixed income securities. The weakening of the peso against the US greenback also prompted local insurers to shift to dollar investments....

PDIC to reopen Urban Bank before July 26.
June 30, 2000... The Philippine Deposit Insurance Corp. (PDIC) yesterday pushed back its timetable in reopening Urban Bank after postponing a presentation of the rehabilitation plan to the Monetary Board scheduled for today. PDIC president Norberto...

IMF, World Bank set September deadline for PNB capital infusion.
June 30, 2000... Focusing on the rehabilitation of Philippine National Bank (PNB), the International Monetary Fund and the World Bank want bank stockholders to infuse P10 billion in fresh capital by September. The capital infusion will trigger the release...

RP, Taiwan working to end ban on new Filipino workers.
June 30, 2000... The Philippines has made some inroads in having Taiwan remove a ban imposed on the hiring of Filipino manufacturing and construction workers, the Department of Labor and Employment (DoLE) yesterday said. Labor secretary Bienvenido E....

SPECIAL FEATURE: Dining: A grand food fiesta at a grand hotel.
June 30, 2000... Grand Boulevard Hotel, situated in the midst of the sights and sounds of the metropolis, offers not just a breathtaking view of the Manila Bay as it welcomes one to a world of luxury and opulence, but a fine dining experience as well. ...

SPECIAL FEATURE: Dining: Adding an extra sparkle to special occasions.
June 30, 2000... A celebration commences with a toast, and a glass of sparkling wine best complements the festive scene. Freixenet, a leading Spanish sparkling wine, illustrates how the sizzle of special occasions can be complemented with added fizz. ...

SPECIAL FEATURE: Dining: A fusion of unique cuisine, personalized service.
June 30, 2000... It's never hard to spot a lousy restaurant. All one needs is a span of several months and watch the dearth of diners pull the establishment down. It's never hard to know a good one, either. If it satisfies the basic requirements of excellent...

SPECIAL FEATURE: Dining: What makes a good restaurant?
June 30, 2000... Word of mouth travels fast, especially in the world of food and beverage. In fact, many have considered this a simple, inexpensive, yet effective means of publicity. However, a good word is not something that easily comes around. In the...

SPECIAL FEATURE: Palafox Associates (ARCHITECTS URBAN PLANNERS CONSULTANTS): Challenging outdated urban...
June 30, 2000... It happens quite unnoticed. When open balkonahes were replaced by carports, the change affected not just the facade of Filipino houses but also the way Filipinos related with their neighbors, and the value they put in their possessions. ...

SPECIAL FEATURE: Palafox Associates (ARCHITECTS URBAN PLANNERS CONSULTANTS): Leading the way in urban design...
June 30, 2000... Eleven years is hardly enough time for a company to make its mark. Some of the most enduring names in business took years to build their reputation. But as one of the world's best architectural and design firms, Palafox Associates proves that...

SPECIAL FEATURE: KAIZEN INSTITUTE (15th Anniversary): Messages.
June 30, 2000... The year 2000 is a milestone for KAIZEN Institute. It ushered a fundamental and sustained growth in our operations through the popularity of our consulting programs around the globe. Looking back at our activities for the past 15 years, I...

SPECIAL FEATURE: KAIZEN INSTITUTE (15th Anniversary): GembaKaizen TM: improving workplace productivity.
June 30, 2000... GEMBA is a Japanese word meaning "real place," where the real action takes place. In business, GEMBA is where the value-adding activities are made to satisfy the needs of the client. In a narrower context, GEMBA refers to the place where...

SPECIAL FEATURE: KAIZEN INSTITUTE (15th Anniversary): Understanding Kaizen.
June 30, 2000... Success does not come to companies overnight. Many all over the world have unlocked their potential to become 'superior global competitors" by subscribing to a management philosophy called KAIZEN. Introduced by Masaaki Imai in 1985 in...

SPECIAL FEATURE: KAIZEN INSTITUTE (15th Anniversary): Helping companies achieve their competitive advantage.
June 30, 2000... To succeed in the increasingly competitive global marketplace, it is imperative for companies to know and harness their strengths. This entails a wholistic approach that calls for the continuous improvement of every facet of an organization...

ASEANWATCH: Manila set for isolation, US influence again.
June 30, 2000... The Global Intelligence Update's latest issue (20 June 2000) has pronounced that Manila's mismanagement of the hostage crisis will seriously "damage the Philippines' relations with its neighbors." It said the government in Manila is...

Vector: RP over Malaysia?
June 30, 2000... Too good to be true President Estrada stands at the victory podium raising a clenched fist and smiling from ear to ear. Standing to his right is a forlorn-looking second placer, a bespectacled caricature of Malaysian Prime Minister...

Fast Forward: Bombed out.
June 30, 2000... What happens when an OV-10 bomb, the type they're carpeting the MILF "camps" with, drops on your backyard? According to friends who joined the recent fact-finding mission organized by Kalinaw Mindanao, the OV-10 bomb creates a crater 20...

Editorial: Fence Sitter: Nothing personal.
June 30, 2000... Why does someone announcing some misfortune on another excuse himself by saying: It's nothing personal, just part of a job? Does such a declaration soften the blow or elicit from the victim greater acceptance? (I know this is not enjoyable to...

Rule of Law: On lobbying and lobbyists.
June 30, 2000... If Philip Kaplan's statement is to be believed, we might as well treat him as another hero alongside our OCWs. According to a newspaper account, Kaplan allegedly said having brought into the country hundreds of millions of dollars in...

Local stocks shrug off status quo on US rates.
June 30, 2000... Stocks were unexcited by the declaration of a truce in US interest rate hikes although selected blue chips managed to "make noise" yesterday, brokers noted. As expected, the US Federal Reserve - the authority that sets policy on key...

Q-Telecell sales.
June 30, 2000... In spite of the cautious approach taken by local telephone companies in expanding landline services, wireless local loop (WLL) supplier Q-Telecell remains optimistic the $12-million to $15-million sales target will be attained this year....

ASB debt reprieve.
June 30, 2000... Debt-saddled ASB Group of Companies may just have to let go of the security blanket provided by the corporate regulator in the form of a debt-suspension order, as four creditor banks recently submitted formal objections to any debt reprieve...

Dear Editor: Disgusted and ashamed.
June 30, 2000... Dear Mr. (Noel) Reyes, You do not know me from Adam and given that the Filipino has a penchant for "bully-boy" techniques (especially the current political dispensation), I believe that my anonymity should remain. I know that as a...

PSE questions share movement.
June 30, 2000... Learning its lesson from the price rigging fiasco involving gaming firm BW Resources Corp. (BW) last year, the Philippine Stock Exchange (PSE) yesterday said it has started to examine questionable price and volume movements in property...