BusinessWorld (Philippines) articles from March 2000, page 9

BusinessWorld (Philippines) archives from March 2000

WAP rates too expensive?
March 21, 2000... Local mobile operators like Smart Telecommunications, Inc. and Globe Telecom should "closely study" and "improve" on the way they charge their customers for the use of their Wireless Application Protocol (WAP) service, a senior executive of a...

pldt.com hearing to resume in April.
March 21, 2000... The pldt.com saga continues with court hearings to resume on April 11 at the Quezon City Regional Trial Court Branch 90. On that day, telecommunications giant Philippine Long Distance Telephone Co. (PLDT) is expected to present anew witness...

D-Link introduces Internet server for SOHO market.
March 21, 2000... D-Link International Pte. Ltd. introduced last week an Internet server with a built-in 56 kilobytes-per-second v.90 modem for the small office/home office (SOHO) market. It also launched a new version of local area network/modem PCMCIA card...

IBM, SAP join forces in e-business market.
March 21, 2000... E-commerce, the year 2000's byword after the millennium bug, is challenging technology vendors to bring out their best products and solutions to the market to help companies to do business on the Internet. The database market and enterprise...

Visa, Nokia to develop secure payment process.
March 21, 2000... Visa International and Nokia inked a cooperation agreement last month to introduce payment solutions for mobile e-commerce. The companies joined forces to develop ways in which financial institutions and mobile phone operators can offer...

Premiere Bank to offer mobile banking service through Smart.
March 21, 2000... Smart Communications, Inc. entered into an agreement with Premiere Development Bank that will enable bank depositors to perform on a mobile phone most of the transactions that can be done on an automated teller machine. This was disclosed by...

Gov't to set up computerized registry of manpower skills.
March 21, 2000... Lead government agencies in the labor and education sectors are building a computerized registry of manpower skills that will match workers with jobs available. Spearheading the computerized database integration is the Department of...

E-mail still the killer application of the year - Lotus.
March 21, 2000... Electronic mail (e-mail) will remain to be the killer application of the Internet but Lotus Philippines is expecting its customers to build more enterprise applications from the basic e-mail and messaging software solution. Professional...

Philips bares new consumer electronics business structure.
March 21, 2000... Philips Consumer Electronics (PCE), the largest division of Netherlands-based Royal Philips Electronics, has announced its new organizational structure which allows flexibility in structure and quicker response to distinct market conditions....

Oracle chooses Motorola as its first communications technology provider.
March 21, 2000... NEW YORK CITY - Oracle Corp. and Motorola, Inc. have anounced a strategic alliance to deliver Motorola technology and services for Oracle Mobile.com, a new wholly owned subsidiary of Oracle. OracleMobile.com selected Motorola as its first...

Microfinance sector needs less rules - experts.
March 21, 2000... For the microfinancing industry to take off, it needs an "enabling environment" where the government has less rules, and "good management", experts attending a regional forum yesterday said. At yesterday's Regional Workshop on...

Security Bank to consolidate thrift, IT units.
March 21, 2000... To maximize efficiency, publicly listed Security Bank Corp. yesterday announced it will fold in two wholly owned subsidiaries into its operations. In a disclosure to the Philippine Stock Exchange, Security Bank said its board of...

Templeton to stay in PNB if...
March 21, 2000... Global fund manager Templeton Asset Management Corp. may opt to keep its 13% stake in the Philippine National Bank (PNB) if the country's fourth-largest bank eventually lands in the hands of a foreign bank. An BusinessWorld source privy...

State agency OK's license of US insurer.
March 21, 2000... The Insurance Commission (IC) recently granted a license to US-based New York Life Insurance Co. despite the perceived "over-saturation" in the Philippine insurance industry. Commissioner Eduardo T. Malinis said the state watchdog has...

Calling a Spade...: Policy reversals.
March 21, 2000... A Japanese businessman got his fingers badly burned in the Philippines early on in the Estrada Administration when he became a victim of a government policy reversal. Last week, presumably to attract public attention to his plight - and force...

PESO Cross Rates as of March 20, 2000.
March 21, 2000... one unit Phil Aussie Bahrain Cndn French of currency peso dollar dinar dollar franc Philippines 1.0000 0.0402 0.0092 0.0359 0.1648 Australia 24.8464 1.0000 0.2288 0.8921 4.0935 Bahrain 108.5845 4.3702 1.0000 3.8988 17.8896 ...

Local interest rates to go up if US Fed increases rates sharply.
March 21, 2000... Domestic interest rates may have to rise if the US central bank decides to increase its key rate sharply, the Bangko Sentral said yesterday. "If it's a 50-basis-point (increase), we will have to reevaluate our interest rate policy and...

SEC reveals pressure on BW investigation (DoJ wants report but probe still unfinished).
March 21, 2000... After that chapter of the BW Resources Corp. scandal involving the top Securities and Exchange Commission official and President Estrada, comes now yet another SEC executive who is accusing a top Justice official of pressuring him to submit...

Victorias Milling auction fails to attract investors.
March 21, 2000... There were no takers for the country's biggest sugar miller. Yesterday's public auction for a controlling 53.35% stake in beleaguered sugar miller Victorias Milling Co. resulted in a failed bidding after the two remaining potential...

Getting the Edge in Professional Selling: Offering unsolicited advice!
March 21, 2000... "I wouldn't do that if I were you," or "Let me tell you what you ought to do" are precursors to unsolicited advice. And when someone comes along and starts to tell me what to do or not to do (when I haven't asked for their help) I am unlikely...

'Instant office' business debuts in the Philippines.
March 21, 2000... Outsourcing, the buzzword that global business leaders now regard as an essential tool of modern commerce, is an idea whose time has come in the Philippines. This has become evident with the success and increasing patronage of the...

Greggy graft suit pushed.
March 21, 2000... The Sandiganbayan must not dismiss the graft case against Gregorio Ma. Araneta III, son-in-law of the late president Ferdinand E. Marcos, because there is enough evidence to prove his guilt, the prosecution said. In a 39-page opposition,...

Solon wants case dropped.
March 21, 2000... A former Compostela Valley governor accused of unlawfully appointing a vice-mayor for Montevista town asked yesterday the Sandiganbayan to annul the charge against him. In a six-page motion to quash, Prospero S. Amatong, now Compostela Valley...

Botika plan to be checked.
March 21, 2000... Senator Francisco S. Tatad wants the Senate to investigate the Philippine Charity Sweepstakes Office (PCSO) Botika ng Masa project, where millions of pesos were allegedly spent on defective medicine. The solon cited allegations that most of...

Zambales bomb kills one.
March 21, 2000... A 19-year-old fish diver died while three others were seriously wounded last Friday after an artillery shell they recovered in the waters of San Antonio, Zambales exploded. Authorities have yet to determine whether the incident was connected...

Four witnesses in Valerio slay in cops' custody.
March 21, 2000... Four witnesses to the slaying of chief government corporate counsel Jun L. Valerio midnight last Saturday are now in the custody of the police. This was learned yesterday from Senior Inspector Rodolfo Jaraza, who is the officer in charge...

Down South: The result of incompetence.
March 21, 2000... DAVAO CITY - I remember the town of Kauswagan in Lanao del Norte as a small and peaceful agricultural community. However, it is strategically located between two regions: Northern and Western Mindanao. It was late last year when Iligan City's...

COURT SIDE: SMB victory a boon to hoop league.
March 21, 2000... San Miguel fans had every reason to celebrate last Sunday. After all, the match their favorite team just went through was not like any other, coach Jong Uichico's protestations to the contrary notwithstanding. With the Araneta Coliseum...

SMB's defense beats Tanduay's offense.
March 21, 2000... Dondon Hontiveros, ex-Cebu Gem hotshot, did all right scoring 14 points for the ballclub that eventually won his services. But it was Boybits Victoria, whom coach Jong Uichico was willing to put on the trading block to get Hontiveros in the...

New rules for bidding out gov't contracts readied.
March 21, 2000... To ensure transparency in bidding out government contracts, the Economic Coordinating Council (ECC) will amend the present bidding system. Finance Secretary Jose T. Pardo said President Estrada asked the powerful ECC to give its...

Training set for restaurant, hotel owners.
March 21, 2000... Restaurateurs, hoteliers, resort and canteen operators and those planning to open their own food service business now have a chance to hone their skills when ProActive Center for Training (PACT) holds its managing a restaurant/canteen...

The EuroConsumer: British architecture.
March 21, 2000... Talk about British design and what comes to mind are heart-stopping Rolls-Royces and Alexander McQueen frocks that go all the way down there. But boutiques and the Buckingham Palace are not the only sights worth visiting in London. ...

Fence Sitter: Bearish behavior.
March 21, 2000... It is not easy breaking bad news. Even if not responsible for decisions or events being communicated, the bearer of sad tidings is associated with the misfortune he visits on others. Here are some ways of handling storm warnings of all sorts:...

... while Cebu developer seeks PEZA green light.
March 21, 2000... CEBU CITY - The Cebu Property Ventures and Development Corp. (CPVDC), a subsidiary of Ayala Land, Inc. (ALI), is optimistic that the Philippine Economic Zone Authority (PEZA) will approve its application for the establishment of an...

Chess Piece: 2nd Philippine Chessathon.
March 21, 2000... ANNOUNCEMENT: Before we start, I'd like to announce that the Philippine Chess Center at No. 71 Timog Avenue, Quezon City, will be kicking off its "Executive Chess Days" at 1 p.m. starting April 1 and every first Saturday of the month...

MosCom opens Panabo PoP.
March 21, 2000... MosCom Internet launched Point of Presence (PoP) operations in Panabo, Davao del Norte, last month. Greenlink Online Ventures is operating the Panabo PoP. It is offering a 50% discount on hook-up fee plus additional hours (according to...

Philippine robot soccer team plays debut game.
March 21, 2000... The Philippine MicroRobot Soccer Team made its first public appearance last Saturday with a demonstration game during the second De La Salle University (DLSU) Science and Technology Conference. Six robots, measuring no more than four...

Local metal sector eyes Singapore market.
March 21, 2000... As part of a three-year trade promotional program for the metal sector, the Center for International Trade Expositions and Missions (CITEM), an agency of the Department of Trade and Industry, has organized the country's first participation in...

ERRATUM.
March 21, 2000... The headline on yesterday's news item on the forthcoming bond sale of Pag-IBIG Fund should have read 'Pag-IBIG Fund sells P4-B bonds next week' instead of '...this Thursday'. The bond issue has been scheduled for March 30. We regret the error.

ADB report cites reforms for markets.
March 21, 2000... Asian economies recovering from the regional crisis three years ago need a stronger watchdog agency and increased reliance on a disclosure-based market, among other things, the Asian Development Bank (ADB) said. In a newly released...

Philippine Stock Exchange as of March 17, 2000.
March 20, 2000... Stocks Volume High Low Close BANKS & FINANCIAL SERIVICES Banks Bank of P.I. 257,800 95 92 93 China Banking 70 760 760 760 Chinatrust Comm. Bank 7,000 8 8 8 Equitable Banking 68,200 56.5 56 56 Far East Bank...

Think tank seeks perks for IT sector.
March 20, 2000... The government should expand its incentive programs to include the information technology sector in order to attarct more investments in a globalized world, the Congressional Planning and Budget Office (CPBO) said. The CPBO, the...

Gov't inaction said slowing entry of cheaper medicines.
March 20, 2000... Sourcing cheaper drugs from other countries through parallel importation is not likely to happen within the year due to the government's slow-paced action, high-ranking Department of Health (DoH) official said last Friday. In an...

Curbs on Aussie farmgoods backed.
March 20, 2000... The Chamber of Agriculture and Food Inc. (CAFI) is supporting restrictions on the entry of Australian farm products. In a statement, the CAFI said that for as long Australia restricts the entry of Philippine agricultural exports, the...

Administration urged to regain public's trust.
March 20, 2000... Following a slew of debacles over the past two years the Estrada administration should rebuild a domestic consensus to regain public confidence, Albay Rep. Jose Ma. S. Salceda said. Mr. Salceda, who recently briefed Malacanang officials...

Economic Indicators: OFW remittances up 41% in Jan.-Nov. '99.
March 20, 2000... Total remittances of Filipino overseas workers (OFWs) rose by 41% to $6.29 billion in the first 11 months of 1999 from $4.46 billion in the same period of the previous year, data from the Bangko ng Sentral ng Pilipinas show. ...

Use of investment goals questioned by DTI chief ('It will not serve anybody's purpose' - Roxas).
March 20, 2000... "We may not issue an investment target at all." Trade and Industry Secretary Manuel A. Roxas II who questioned the essence of continuing the government's use of investment target as an economic indicator of growth. "What I'm saying...

RP leads region in mass housing sector recovery.
March 20, 2000... CEBU CITY - The Philippine real estate sector is leading regional recovery in mass housing but still lags behind in the high rise office and residential condominium building sub-sector, the regional property team of Jardine Fleming Research...

Trade surplus still expected despite weak January tally.
March 20, 2000... Analysis are confident the country can post a trade surplus this year despite anemic export growth for the month of January. The National Statistics Office (NSO) last friday said the trade surplus shrank to $65 million from $182 million...

Sugar prices drop anew.
March 20, 2000... BACOLOD CITY --After picking up last month, sugar prices are again declining. A six-week check on the prices at the Association of Productive Planters-Negros showed that sugar prices steadily went up during the four-week period from Feb....

Fears of NAFTA cutting into RP share unfounded.
March 20, 2000... The North American Free Trade Agreement (NAFTA) has not "adversely affected" Philippine exports to the United States (US), a Department of Trade and Industry (DTI) official last Wednesday said. NAFTA is the regional free trade accord...

Dollar reserves down 1.2% to $14.59B.
March 20, 2000... A higher debt servicing burden caused the country's dollar services to decline to $14.59 billion as of end-February, the Bangko Sentral last Friday said. This was a 1.2% drop from the $14.77 billion posted in the previous month and a...

Tougher rules for pre-need firms' investments eyed.
March 20, 2000... After admitting late last year that it has "lagged behind in coming up with measures to protect pre-need planholders," the Securities and Exchange Commission (SEC) now says it is ready to impose tougher requirements on the investment...

THIS WEEK: two main themes evident at US central bank meet.
March 20, 2000... The two main themes this week will be the US Federal Reserve's policy meeting and the US stock market. The Fed's 25-basis-point hike appears to be a foregone conclusion for the markets and after combing through the Fed's statement after the...

Strong exports record lifts BoP surplus for '99.
March 20, 2000... A strong export performance last year pushed the country's balance of payments (BoP) to an overall surplus of $3.839 billion, nearly triple the level posted the previous year. According to the Bangko Sentral, last year's BoP position was...

Forum focuses on problem of water supply.
March 20, 2000... THE HAGUE, Netherlands - Poor people in developing countries dependent on water vendors pay on the average 12 times more per liter bought than those connected to municipal systems. The situation is worsened by the fact that, most of the time,...

Big coconut farmers group to have a seat in levy body.
March 20, 2000... A representative of wealthy coconut planters will likely sit in the proposed committee that will oversee the proposed P50-billion trust fund to be created out of the coconut levy money, Agrarian Reform Secretary Horacio R. Morales said. ...

World norms for genetically modified food items urged.
March 20, 2000... HONOLULU, Hawaii - Private sector groups in the Asia-Pacific Rim want governments in the region to establish internationally accepted safety standards governing genetically modified (GM) food products to ensure free trade in these...

SEC evidence in stock rigging case belittled (As bourse bides time on bylaws revision).
March 20, 2000... "Keep cool." This seems to be the stance of the Philippine Stock Exchange (PSE) board as it bides its time to amend its bylaws. A PSE governor, requesting anonymity, said there is "an inclination to try to do a lot of things and make...

Gov't to exempt housing securities from taxes.
March 20, 2000... The National Government will exempt from documentary stamp taxes (DST) mortgage-backed securities (MBS) traded in the secondary market. "We want to encourage the development of a secondary market for home mortgages," Finance Secretary...

PESO Cross Rates as of March 17, 2000.
March 20, 2000... one unit Phil Aussie Bahrain Cndn French of currency peso dollar dinar dollar franc Philippines 1.0000 0.0400 0.0092 0.0359 0.1650 Australia 25.0025 1.0000 0.2301 0.8988 4.1243 Bahrain 108.6428 4.3453 1.0000 3.9054 17.9211 ...

BSP Reference Rate as of March 17, 2000.
March 20, 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 40.954000 Japanese yen 0.009481...

Sheer shades of summer.
March 20, 2000... The Body Shop's in-house cosmetic line, Colourings, recently launched its first trend line for the year at its flagship store in Glorietta. Dubbed Inner Light, the makeup line consists of four reflective eyeshadows, a metallic eye definer,...

Take Ten: Delightful surprises.
March 20, 2000... In any production, you come across delightful surprises. These can be unexpected events that result from the confluence of circumstances. Oftentimes, it is the proper mix of challenges and the people who brave them. Success is largely...

Agency to extend guarantee to high-value crops.
March 20, 2000... The Guarantee Fund for Small and Medium Enterprises (GFSME) may now guarantee long-gestating crops under its Makamasang Agrikultura Program for high-value crops. The new policy is in line with the recent pronouncement of the Monetary...

Local telecoms firm taps Siemens for network rollout.
March 20, 2000... Bell Telecommunication Philippines, Inc. said it has selected Siemens AG to become its main supplier and systems integrator for its nationwide network rollout. The contract covers design, engineering, supply and implementation of an...

International newspaper to print in Manila.
March 20, 2000... The International Herald Tribune (IHT) will print in Manila in early June, making it the 20th print site for the IHT worldwide and the eighth print site in Asia, Peter Goldmark, chairman and chief executive officer, recently announced. ...

Growth in e-mail services to trace cellphone boom.
March 20, 2000... With local cellular phone usage now widespread, free e-mail will soon be the next great social and economic equalizer. Thus said Orlando B. Vea, co-founder and former president and CEO of Smart Communications. Mr. Vea, who holds board...

THIS WEEK: STOCK PICKS.
March 20, 2000... AJO.net Holdings, Inc. Recommendation: BUY What do you do if you wake up one day and realize your house is in shambles and the head servant - who keeps the house spic and span - has left for a long holiday, bringing with him the...

MILF threatens to quit peace talks.
March 20, 2000... Moro rebels are threatening to quit peace negotiations with the government given the military continued offensive against them in Mindanao. Moro Islamic Liberation Front (MILF) peace panel spokesman Mohager Iqbal said yesterday recent...

Corner Kick: The mark of true champion?
March 20, 2000... It must be the Ides of March once again. It hadn't played a decent game of football since the beginning of the month. But Manchester United overcame crisis after crisis on and off the field, came back to win most of them, save for that away...

COURT SIDE: Trouble with capital T.
March 20, 2000... It's true. Hindsight does make for 20/20 vision, and that is exactly what pro hoops followers can boast of when it comes to Isaiah Rider's case. After all, the rebellious streak of one of the most gifted one-on-one players to ever grace the...

Use of tissue culture technology to boost RP's coconut industry, says researcher.
March 20, 2000... The coconut industry is seen to have a rosier future and its farmers to enjoy better yields once the development of the coconut tissue culture technology in the country is completed, an official from the Bureau of Agricultural Research (BAR)...

Mindanao wants infrastructure needs put on fast track.
March 20, 2000... GENERAL SANTOS CITY - Mindanao residents, through a resolution passed by participants in the Second Mindanao Food Congress held here recently, urged the national government to jumpstart the development of the region's infrastructure needs....

Local field tests for GM corn may start this June.
March 20, 2000... HONOLULU, Hawaii - Multinational agribusiness firm Pioneer Hi-Bred Philippines, Inc. will likely start its field experiments on the cultivation of transgenic or genetically modified (GM) corn in the Philippines by June this year. Hardeep...

Market seen to keep eye on US Fed, OPEC meets.
March 20, 2000... While momentarily closing one ear to market scandals, the stock market this week is expected to keep the other ear open to developments on Wall Street in view of an expected US rate hike. "The next question rests on whether the rumor mill...

AUB to launch dollar trust fund.
March 20, 2000... Asia United Bank (AUB) said it plans to launch a dollar-denominated trust fund before June. The product launch was due to the success of its common trust fund (CTF) which had risen to a total net asset value of P705 million as of...

PNB taps SGV for another audit.
March 20, 2000... To put to rest the ticklish issue of its true financial state, the Philippine National Bank (PNB) has tapped auditing firm Sycip, Gorres, Velayo & Co. (SGV) to review its books as a prelude to its forthcoming privatization. "They will...

Urban Bank scouts for IT partner for e-commerce.
March 20, 2000... In a bid to ride on the emerging "new economy," Urban Bank plans to get a nonbank partner that will contribute to its technological advancement, its top executive said. While merger talks between Urban Bank and the Tan Yu Group's Panasia...

Pag-IBIG Fund sells P4-B bonds Thursday.
March 20, 2000... The Home Development Mutual Fund (Pag-IBIG Fund) will finally push through with its much-delayed P4-billion bond sale this Thursday. The bond sale was originally scheduled for last year, but had been repeatedly deferred due to uncertainty...

SC asked to remand case vs Uytengsu.
March 20, 2000... Businessman George K. Young wants the Supreme Court (SC) to order the Court of Appeals (CA) to rule that alleged violations of the stock-swap agreement he entered with estranged business partner Wilfredo Uytengsu, Sr. should be determined by...

DoTC says technical review for railway project accurate.
March 20, 2000... Despite recommendations for a review, the Department of Transportation and Communications (DoTC) will stand by with the results of its technical evaluation for the remaining package component of the Aurora-bound Light Rail Transit line 2...

Tan-owned companies defer plans to list at PSE.
March 20, 2000... Turned off by the controversies currently hounding the local bourse, the Lucio Tan Group of Companies has decided to defer plans for this year to expand and list some of its companies at the Philippine Stock Exchange (PSE). In an...

Newly Registered Corporations.
March 20, 2000... With Authorized Capital of at least P50 Million (January 1999) Growing of Fruits (except Banana and Nuts) Lapanday Grand Ventures Corporation, Macondray Centre, 2263 Pasong Tamo Ext., Makati City; Authorized cap. P50M; Paid-up...