BusinessWorld (Philippines) articles from March 2000, page 3

BusinessWorld (Philippines) archives from March 2000

SPECIAL FEATURE: E-Commerce: APC launches Channel Partner Program.
March 30, 2000... American Power Conversion (APC), worldwide leader in power protection and management solution, recently launched the Channel Partner Program, a marketing, sales, and service support program which is designed to provide hassle-free sales to IT...

SPECIAL FEATURE: E-Commerce: Zurich Phils. strengthens customer focus with e-commerce facility.
March 30, 2000... The crossover from the traditional mode of business to electronic commerce has made an impact on both major and minor industries all over the world, including the financial services sector. Forming part of this sector, the insurance industry...

SPECIAL FEATURE: E-Commerce: Building a legal framework for the Internet.
March 30, 2000... The evolution of business and technology have proceeded at a dizzying pace since the rise of the Internet economy. But while these two have bent and flowed with advancements in technology, staid institutions such as the law have failed to...

Wasabi.... hot deals!
March 30, 2000... A few months ago this restaurant was the talk of the town. It was new, different and glitzy enough to land itself notable time in many "what's on" conversations. The food critics and Manila socialites all had a view and the one I heard...

Mining firm taps local folk to check project's impact.
March 30, 2000... Lepanto Consolidated Mining Co. has tapped the participation of several barangays in Mankayan, Benguet, and Cervantes, Ilocos Sur for its environmental impact assessment (EIA) for the proposed expansion to 5,000 metric tons per day (mtpd) of...

Citibank sets transfer of operations to Libis offices.
March 30, 2000... Following the recent completion of the Citibank Technology Center in Eastwood City, Libis, Quezon City, Citibank is relocating a number of operations from its head office in Makati City as well as two office buildings in Ortigas Center, Pasig...

Metro Pacific concludes share-swap agreement.
March 30, 2000... Metro Pacific Corp. (MPC) has reported the conclusion of a transaction announced last September involving the infusion of its 38.3% ownership in Smart Communications, Inc. (Smart) into Philippine Long Distance Telephone Co. (PLDT) in exchange...

Arroyo urges RP-HK business body's creation.
March 30, 2000... Vice-President Gloria Macapagal-Arroyo recently urged the the creation of a Philippine-Hong Kong (HK) Business Association to expand trade relations and boost the country's potentials as the newest investment haven in Asia. In a recent...

SPECIAL FEATURE: E-Commerce: Regus rides e-wave with instant offices.
March 30, 2000... As the concept of a virtual office is becoming a common scenario with people relying more on their mobile phones or laptops to conduct business, Regus is riding the wave with the instant offices they offer, worldwide. Creating a new...

MMDA can't force private villages to allow public access - Supreme Court.
March 29, 2000... The Supreme Court declared as illegal yesterday the Metropolitan Manila Development Authority (MMDA) order for a private residential enclave to open up its streets to public traffic. In a decision, the Court said the MMDA lacks the...

6,000 policemen for transport strike.
March 29, 2000... Around 6,000 policemen will be deployed around Metro Manila for the transport strike scheduled for tomorrow, acting Philippine National Police (PNP) chief Reynaldo Wycoco said yesterday. He noted Metro Manila has about 14,000 policemen....

Military prepares for NPA attacks.
March 29, 2000... Military outposts nationwide are bracing for attacks by communist insurgents as the rebels celebrate the 31st anniversary of the leftist New People's Army (NPA) today. Armed Forces of the Philippines (AFP) chief of staff general Angelo...

Moro rebels threatening to kill Basilan hostages.
March 29, 2000... President Joseph Estrada said yesterday he is ready to order an all-out war against Moro extremist rebels belonging to the Abu Sayyaf. That is, if they make good their threat to behead their 35 hostages, most of which are students and...

ASEANwatch: A question of accountability.
March 29, 2000... Malaysia is building a 2.1-billion-ringgit tunnel bridge between Penang island and the mainland. The proposed bridge will link Bagan Ajam in Butterworth to Bagan Jermal on Penang Island. As an environmental technologist, this project...

World Bank aid to RP for next 2 years pledged.
March 29, 2000... The World Bank has committed to provide $528.3 million in official development assistance (ODA) to the Philippines over the next two years even as it continues its call for a speedier disbursement of its existing loans. In a joint press...

Housing seen spurring growth in bank loans.
March 29, 2000... The combined loan portfolio of the commercial banking system is expected to grow by 10% this year, the central bank said yesterday. "A 10% (loan growth) is still our target," Bangko Sentral Gov. Rafael B. Buenaventura told reporters,...

House drafting new incentives scheme (Move to attract $5B more in investments a year).
March 29, 2000... The tax panel of the House of Representatives yesterday adopted a legislative proposal that seeks to expand incentives granted to pioneer industries registered with the Board of Investments (BoI). The House committee on ways and means...

Corporate execs told: Back Erap.
March 29, 2000... "He is our President whether we like it or not." This was how Trade and Industry Secretary Manuel A. Roxas II parried questions and comments from the ranks of the Management Association of the Philippines (MAP) who expressed skepticism...

BIR to expand list of large taxpayers.
March 29, 2000... To generate more revenues from the country's top income earners, the Bureau of Internal Revenue (BIR) intends to increase to 1,500 the number of individual and corporate taxpayers in its large taxpayers' roster by yearend. This is more...

Industrial, output up in January.
March 29, 2000... The manufacturing sector started the year 2000 on the right track as reflected by the latest Monthly Integrated Survey of Selected Industries (MISSI) conducted by the National Statistics Office (NSO). The NSO said manufacturing...

Edsamail services.
March 29, 2000... A month after its launching, free e-mail service provider Edsamail Philippines, Inc. said it will expand its services to five or six Asia-Pacific countries within the year as part of its plan to form biggest Internet community in Asia. In a...

Sumitomo bid.
March 29, 2000... Japanese firm Sumitomo Electric Industries, Inc. may likely clinch the deal for the construction of the 510 kilovolt transmission line for the 1,200-megawatt Ilijan gas-fired power plant in Batangas, an official of National Power Corp....

Roco gives DoJ copy of report on stock mess.
March 29, 2000... The Securities and Exchange Commission may have been barred by the courts from pursuing its investigation of the BW Resources Corp. scandal, but the Senate certainly was not. Sidestepping the Court of Appeals' temporary restraining order...

Uniwide reports P2.7-billion loss.
March 29, 2000... Debt-laden retail and property firm Uniwide Holdings, Inc. (UHI) reported a net loss of P2.67 billion in 1999 compared with a net loss of P667.2 million in 1998. In a disclosure to the Securities and Exchange Commission (SEC) UHI...

Four foreign firms eyeing gov't-held Meralco shares.
March 29, 2000... Four foreign investors have reportedly expressed interest in buying the government's 10% stake in the country's largest power distributor Manila Electric Co. (Meralco). Finance Undersecretary Joel A. Banares said the four financial...

Listed Universal Rightfield, investors in buy-in talks.
March 29, 2000... Local and foreign investors are keen on cash-strapped property firm Universal Rightfield Properties and Holdings, Inc. (URPHI). Consunji-controlled URPHI needs additional equity to help finance the company's unfinished property and...

Philippine Stock Exchange as of March 28, 2000.
March 29, 2000... Stocks Volume High Low Close BANKS & FINANCIAL SERVICES Banks Bank of P.I. 576,000 93.5 92 92.5 China Banking 200 720 720 720 Equitable PCI Bank Inc. 184,600 60 58 60 Far East Bank 28,200 61 60 61 Metropolitan...

Danish gov't offers $160-M interest-free loan to Napocor.
March 29, 2000... The Philippine government is pursuing an interest-free financing offer from the Danish government for the $160-million interconnection project of the National Power Corp. (Napocor) that will link up the country's major island power grids. ...

BSP Reference Rates as of March 28, 2000.
March 29, 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 40.951000 Japanese yen 0.009369...

ONSTAGE Jazz, Bach mix at the HK Arts Fest.
March 29, 2000... On March 4, 8 p.m., I attended a performance of An Evening with Joshua Redman at the HK Cultural Centre's Concert Hall. (I was seated in Row CC. This row has a passageway in front of it - thus legroom was great.) The theater was almost...

Court decision does not end artist-AAP dispute.
March 29, 2000... Artist Leo Gerardo C. Leonardo will file a motion for reconsideration within the week, following the decision of the Regional Trial Court of Manila to grant the Art Association of the Philippines' (AAP) motion to dismiss a complaint filed by...

PESO Cross Rates as of March 28, 2000.
March 29, 2000... one unit Phil Aussie Bahrain Cndn French of currency peso dollar dinar dollar franc Philippines 1.0000 0.0399 0.0092 0.0356 0.1656 Australia 25.0496 1.0000 0.2306 0.8911 4.1494 Bahrain 108.6349 4.3368 1.0000 3.8646 17.9951 ...

Pinoy na Pinoy: We are what we were in 1521.
March 29, 2000... My fisherman friend Banyong from Hagonoy says it's the amihan, the northeast monsoon wind which blows our way from December to April in most parts of our country. But this year's, since January especially, has been unusually cold. And there...

First Sustagen Premium Badminton Challenge set.
March 29, 2000... Sustagen Premium in cooperation with IMG and Hartebeest Entertainment announced on Monday in a press conference that it is giving its full support in the staging of the biggest badminton tournament to be held in the Philippines. Dubbed...

Phisix loses momentum, ekes out 4-pt. gain to 1,701.
March 29, 2000... Bargain hunting in blue chip stocks buoyed the key index to a slightly positive finish yesterday although trading was largely spiritless and the market remained unconvinced of further strength. Even so, analysts cheered the break in the...

Honda Media Challenge.
March 29, 2000... Fourteen media teams are once again contesting Round 3 of the Honda Media Challenge at the Greenfield Motorsport Activity Center, Santa Rosa, Laguna on Saturday, April 1. With the Manila Bulletin team keeping pole position in the two...

COURT SIDE: Steely Hal Sutton proves it can be done.
March 29, 2000... The tension in the air was so evident that it could have been sliced thin by a butter knife. In large measure, it was due to the pressure the two players on the last flight faced as they made their way through the final round of the Players...

High grades aren't everything.
March 29, 2000... Every year, thousands of parents feel depressed over their children's grades come the end of the school year. For most of them, it is simply the end of another frustrating year. Some lash out their anger at their children, which only makes...

Int'l school subsidizing education.
March 29, 2000... Amid today's constantly rising cost of living, the chances of getting a good college education are often threatened. Fortunately, a new school isn't turning a blind eye. Thames International Business School, in its desire to provide...

Bottled water safer than refilling stations.
March 29, 2000... The Department of Health has formulated regulations for Water Refilling Stations in response to a request for stricter guidelines by the public, concerned that these neighborhood shops simply aren't equipped to ensure quality as part of the...

Auto talk.
March 29, 2000... This week's topic is: Are sport utility vehicles worth their price tags? Our readers sent their views. A survey conducted in the US determined that most SUV buyers rarely use their SUVs for off-road conditions. Also, a number of...

Aussie envoy reaffirms support for women's dev't in Philippines.
March 29, 2000... The Australian government has re-affirmed its commitment to support women's development in the Philippines through the Australia-Philippines Development Cooperation Program. The re-affirmation was made by Australian Ambassador John Buckley on...

Auto technology conference in April.
March 29, 2000... Philippine and American experts, engineers, researchers, and academics will discuss automotive components and transportation technologies and strategies during the April 10-14 Philippine Automotive Technology Conference at Dusit Hotel Nikko....

New design concept in Volvo S80.
March 29, 2000... The S80 has won various awards for style as well as for the values of safety and engineering excellence. When the Volvo S80 won the Pan-Europe design award, it was a decision based on the votes of 500 professional car designers and design...

Accessories we don't want to see on cars.
March 29, 2000... Filipinos are fond of sprucing up their cars. At times, they become too fond of it that their vehicles fall below the original specs. Visit Banawe St. or just about any car accessories shop at the mall and you will find just about any...

Job generation rides on Net wave.
March 29, 2000... Just as the virtual market influences changes in many economies, the growth of information technology in Asia-Pacific has had an impact in the way companies develop their work force, and on how people look for employment. Capitalizing on...

In the Workplace: Exit interviews are ineffective.
March 29, 2000... We've been conducting exit interviews for every resigning employee. But it seems that this approach is more than a ceremonial tool than a remedial measure for us. We can't benefit much from it. How can we reverse the situation? Or, shall we...

Tips to maintain your vehicle's showroom finish.
March 29, 2000... Visual representation is very powerful. The way a person grooms. for instance, says a lot about his or her personality. No one, after all, wants to stare at a shabby-looking image. The same thing is true with your vehicle. People always...

Microfinance firms lobby for changes in credit rules.
March 29, 2000... Microfinance institutions (MFIs) in East Asia and the Pacific have vowed to lobby for changes in existing laws to enhance credit to the poor. This was the resolution arrived at by representatives of the institutions which participated in...

MPC thrift unit to be renamed First e-Bank.
March 29, 2000... Metro Pacific Corp. (MPC) unit PDCP Development Bank yesterday said it is set to change its corporate name to First e-Bank Corp. In a disclosure to the Philippine Stock Exchange (PSE), the bank said the change in its name was approved by...

IRON HORSES: Faster (more expensive) route.
March 29, 2000... On Wednesday last week, I was handed a flyer while I was about to enter the South Luzon Expressway (SLE) via the Sucat Toll Plaza. The flyer, handed by one of PNCC Skyway Corp.'s toll booth tellers, urges motorists to use the Skyway System's...

Demand Rates as of March 27, 2000.
March 29, 2000... The interbank demand rate weighted average was 8-7/8%, according to the Bangko Sentral treasury department. Rates quoted by 48 participating institutions ranged from 8-13/16% to 9-1/4%, with lenders outnumbering borrowers at 30 to 18. Total...

Active bond market to bar repeat of '97 crisis - BoT head.
March 29, 2000... Had there been an active domestic bond market in every country in Southeast Asia, the 1997 financial crisis would have been just a figment of the imagination. In his keynote address at the Asian Development Bank-sponsored conference on...

Banks' excess cash pushes down 10-yr. bonds rate.
March 29, 2000... Heavy demand, mostly from banks, dragged down the coupon rate of 10-year Treasury bonds by 75 basis points to 13.875% at yesterday's auction, from 14.625% when it was last traded at the Bureau of Treasury on Feb. 29. National Treasurer...

Gov't to set up bond exchange.
March 29, 2000... The Bureau of Treasury yesterday said it has junked a plan to list and trade small-denominated bonds at the Philippine Stock Exchange (PSE) in the light of the scandal that recently rocked the local bourse. At yesterday's news conference,...

BSP to set stiffer penalty for banks violating loan rule.
March 29, 2000... The Bangko Sentral is set to tighten the penalty system on banks that fail to comply with rules on extending credit to the farm sector. Under a resolution being prepared by the policy-setting Monetary Board (MB) of the Bangko Sentral, the...

Proposal granting Australia MAV sugar rights scrapped (Technical assistance project terms ruled unfavorable).
March 29, 2000... The Philippine government has shelved a proposed project that will allow Australia to become the sole supplier of the Philippines' low-tariff sugar imports for five years. Agriculture officials interviewed by Business-World said the...

Cebu-specific aviation policy sought.
March 29, 2000... CEBU CITY - The Cebu Provincial Board (PB) will ask the Economic Coordinating Council (ECC) to adopt a "region-specific liberal skies" policy for the Mactan-Cebu International Airport (MCIA). The policy will encourage more direct...

Increase in food prices seen pushing up March inflation.
March 29, 2000... The country's inflation rate is expected to inch upward this March as government economic managers expect food prices to register slight increases. In an interview with reporters, Socioeconomic Planning Secretary Felipe M. Medalla...

Gov't to maintain P22-B revenue target for privatization program.
March 29, 2000... The Committee on Privatization (CoP) will meet with the International Monetary Fund (IMF) next week to discuss the attainability of the government's privatization program. A CoP official said the government will not lower its P22-billion...

Too early to rule on expanded ASEAN currency swap arrangement, says ADB.
March 29, 2000... The Asian Development Bank (ADB) yesterday offered mixed feelings on the recent decision of Southeast Asian finance ministers to abandon the plan to set up a regional crisis fund that would help member economies manage their balance of...

No WB opposition to PNB block sale.
March 29, 2000... The World Bank (WB) has no qualms over the Philippine government's decision to sell its 30% stake in the semiprivate Philippine National Bank (PNB) along with the shares of controversial bank majority shareholder Lucio C. Tan. This was...

Minimum six-second charge for cellphone calls set by NTC.
March 29, 2000... A National Telecommunications Commission (NTC) circular mandating a minimum six-second charge for cellphone calls will be out soon, commissioner Joseph Santiago said yesterday. During a Senate hearing yesterday, Mr. Santiago said the NTC...

Let's talk Europe: New developments in Europe.
March 29, 2000... Driven by challenges from global Internet trading systems, three European stock exchanges merged into a single bourse - the first tangible result of efforts by Europe's fragmented exchanges to transplant the euro on the trading floor. ...

PAL unit sale.
March 29, 2000... The Securities and Exchange Commission (SEC) recently approved the divestment of the national flag carrier's maintenance and engineering operations to Lufthansa Technik Philippines, Inc. (LTP). SEC also approved the engagement of LTP by...

A Matter of Conscience: If I were president.
March 29, 2000... I began writing this column a week or two ago, after talk began circulating in Manila about a "constitutional coup." It seems that there has been a growing concern about the way things are going in the country today: the MILF is restless,...

Dear Editor: Ethical governance.
March 29, 2000... A few years ago, the Development Bank of the Philippines ran value advertisements. One of them underscored the importance of delicadeza as a Filipino value. The relevance of delicadeza is one which is perennial, more so during these...

Dear Editor: Who's in charge in Makati City?
March 29, 2000... Who's in charge at Makati City? It's the only city in the world that I travel to where I cannot carry my briefcase! Why? Because so many illegal vendors and their customers are taking up what little available sidewalk space there is, I cannot...

Dear Editor: Pulling a fast one.
March 29, 2000... There is something very wrong in the arguments of CLA Air Transport, the Japanese cargo airline that is lobbying hard to use Philippine air rights, as expressed in the column of Solita C. Monsod (BusinessWorld, March 21, 2000). CLA...

Random Walker: Stock manipulation schemes.
March 29, 2000... For better or worse, the BW Resources Corp. stock scandal has installed the phrase "stock manipulation" as part of everyone's daily language. The Philippine Stock Exchange report pins the offense on BW Resources share-holder Dante Tan...

Bystander: Thieves in the night.
March 29, 2000... Faced with scandals in high places, the new SEC chair probably has a full agenda. It is not the same for some stock manipulators who have more time on their hands than they have principles. Not to mention the prospect of even more time in...

AdLib: Jollibee in the USA.
March 29, 2000... Like selling ice cubes in Alaska or a refrigerator to an Eskimo? That was what people asked themselves when Jollibee built its first store in mainland USA. Jollibee, after all, sells basic American fastfood favorites: hamburgers and...

NTC will soon issue billing guidelines for telcos.
March 29, 2000... The National Telecommunications Commission (NTC) will soon issue a memorandum circular aimed at regulating billing policies of telephone companies in the country. The proposed memo circular - which is still subject to a final public...

Fast Forward: Shadow government.
March 29, 2000... For all the tough-guy, trash-talking, no-fear political machismo frothing out of his mouth, it appears President Estrada's worst enemy is the shadow of his true self. Not too many saw this more accurately than erstwhile Malacanang chief of...

Advocacy: Advice to graduates (1).
March 29, 2000... (These are exerpts from a speech delivered by the writer as a commencement speaker last week in his old high school alma mater in Negros Occidental.) As I speak before you now, I feel like a novice, unsure and inadequate. I am not...

Chess Piece: The P1-million first prize.
March 28, 2000... Last Wednesday, 22 March 2000, the First Pambansa Millennium Grand Prix was kicked off by top officials of the Philippine Chess Federation (PCF). As announced by the PCF this will consist of a series of knockout matches patterned after the...

Can the Rhum Masters keep their murderous form?
March 28, 2000... GAMES TODAY (Philsports Arena) 5:15 p.m. - San Miguel Beer vs. Red Bull 7:30 p.m. - Pop Cola vs. Shell Tanduay Gold is back to its murderous form. Wanting eagerly to quickly erase the stigma of its lost to San Miguel Beer, the Rhum...

COURT SIDE: The Raymundo snafu.
March 28, 2000... It could, of course, have been worse. For all intents, the penalty meted by Philippine Basketball Association commissioner Jun Bernardino on newcomer Batang Red Bull was a virtual slap on the wrist. Considering the scope of his authority, he...

The EuroConsumer: The sweet life.
March 28, 2000... Confectionaries are sidetrips a visitor can't miss in Europe. In Belgium, confectionaries are romantic stores showcasing edible gems neatly lined on gold-or white-laced paper. An elegant woman in a black dress attends to you, serving...

Microsoft, AMA settle IPR case.
March 28, 2000... Microsoft Philippines, Inc. and AMA Education System are burying the hatchet in the name of quality information technology (IT) education. The two companies, which were indirectly involved in a legal battle over intellectual property...

Peso Cross Rates as of March 27, 2000.
March 28, 2000... one unit Phil Aussie Bahrain Cndn French of currency peso dollar dinar dollar franc Philippines 1.0000 0.0404 0.0092 0.0357 0.1641 Australia 24.7516 1.0000 0.2281 0.8845 4.0622 Bahrain 108.4887 4.3831 1.0000 3.8770 17.8049 ...

Court of Appeals junks RJ bid to regain FWCC control.
March 28, 2000... The Court of Appeals (CA) yesterday junked due to technicality the bid of businessman-musician Ramon "RJ" P. Jacinto to regain control and management over the First Women's Credit Corp. (FWCC). In a resolution, the appellate court fifth...

CBK to close financing deal this week.
March 28, 2000... CBK Power Corp., which will operate the upgrade of the 350-megawatt Caliraya-Botocan-Kalayaan hydroelectric power complex in Laguna, is expected to finally seal a financing deal with five international commercial banks this week. Ruben...

Island Mining also planning to venture into IT business.
March 28, 2000... The management of publicly listed Island Mining & Industrial Corp. (IMIC) said discussions with a prospective foreign partner for the company's planned venture into the Internet business are nearing completion. In a recently concluded...