BusinessWorld (Philippines) articles from March 2000

BusinessWorld (Philippines) archives from March 2000

WEEKENDER: (Meno)Pausing to plan a life.
March 31, 2000... WOMEN'S HEALTH Felicidad Canta's favorite time of day is 10 a.m. but this is especially so if she's in the malls. There are few people by then so she can explore the bookstores and relax. She is 60; a mother of three and grandmother...

WEEKENDER: THE TRAVELLER: Highway program to make travel easier for tourists.
March 31, 2000... Aiming to further invigorate both domestic and foreign tourism in the Philippines, the Department of Tourism (DoT) this week launched its Tourism Highway program. DoT Secretary Gemma Cruz-Araneta said the program is geared towards...

WEEKENDER: Health Economics: Visiting hospitals and dolphins.
March 31, 2000... I recently came from a weekend trip in Dumaguete City in the Negros Oriental area. Due to the very early Friday morning flight from Manila, our Philippine Hos-pital Association contingent had the whole morning and early afternoon to spend...

WEEKENDER: High taxes hurt Baguio's tourism plans.
March 31, 2000... The snail-pace legislation of pro-tourism bill pending at the city council may yet snatch the summer capital of the Philippines title from this mountain resort, local businessmen warned. Carl Estepa, Cordillera regional tourism councils...

WEEKENDER: New hotel in Puerto Princesa.
March 31, 2000... Twenty-something and just bursting with ideas, Camille Palomera is perhaps one of the youngest hotel managers in the country today. Since last year, Ms. Palomera has been based in Puerto Princesa, tasked with overseeing the myriad details of...

WEEKENDER: Travel Trade East: BIMP-EAGA on the go.
March 31, 2000... Working groups are now busy activating regional cooperation to hasten cooperation among members of the BIMP-EAGA (Brunei, Indonesia, Malaysia, Philippines) East ASEAN Growth Area. The working groups include expansion of air linkages, joint...

WEEKENDER: 24-hour chat to mark One Internet Day.
March 31, 2000... Globe Handyphone and PinoyCentral are hosting the country's first major online and on-air chat event today in celebration of One Internet Day. Dubbed as Chat Fever!, the event is a 24-hour, round-the-clock chat marathon which links the...

WEEKENDER: The Medium & the Message: Milo advocacy TV series ignites interest in sports.
March 31, 2000... You should sit down and have a long cup of coffee with Bambi Borromeo, veteran of the Milo-Ovaltine battles in the country and senior vice-president & executive creative director of Publicis AMA, Inc. Bambi will regale you with all the...

WEEKENDER: Q&A: Deepak Chopra and the secret to success.
March 31, 2000... Deepak Chopra returns to Manila today for two special meetings at the Rizal Ballroom of the Makati Shangri-La Hotel. The first, "Wisdom and Leadership" will take place from 9 a.m. to noon, and the second, "Creating Affluence" begins at 2 p.m....

WEEKENDER: 'It's going to be a great time for illegal importers' (Q&A The Bureau of Customs takes over...).
March 31, 2000... Starting today, the Bureau of Customs (BoC) takes over the chore of sorting and valuating all shipments bound for the Philippines as it ends its pre-shipment inspection (PSI) contract with Swiss firm Societe Generale Surveillance (SGS). ...

WEEKENDER: WANTED: A NEW WORLD ORDER.
March 31, 2000... The key to security in the Asia-Pacific lies in three institutions, two of which are indigenous, and the third seemingly an anathema to people in the region. This is according to a Japanese security expert, who delivered a lecture on Asian...

WEEKENDER: Woman on the verge of a virtuous breakdown.
March 31, 2000... CINEMA The End of the Affair Neil Jordan In the opening scene of Neil Jordan's The End of the Affair (from the novel by Graham Greene), Bendrix (Ralph Fiennes) meets Henry Miles (Stephen Rea) in the pouring rain (rain always pours in...

WEEKENDER: Cooking for gold.
March 31, 2000... FOOD Nowhere But Norway Chef Terje Ness The Tivoli Grill Mandarin Oriental Manila For food lovers, Norway has become synonymous for its wonderful seafood, particularly the salmon, which is widely recognized as the standard by which...

WEEKENDER: Festival Supermall's amusement centers give reason to head south.
March 31, 2000... MALLING Pixie Forest X-Site Amusement Center Festival Supermall Unless one is from Laguna, it is rare for anyone to just happen to be in Alabang. It would take a damn good reason for a sane human being to brave the traffic and...

WEEKENDER: Don't you get me wrong.
March 31, 2000... THEATER Jesus Christ Superstar Music by Andrew Lloyd Webber Book and lyrics by Tim Rice Directed by Bobby Garcia Atlantis Productions GSIS Theater The musical Jesus Christ Superstar is important to many, many people. For those...

FOCUS: With SGS out, who'll do pre-shipment inspection?: Last of two parts.
March 31, 2000... The National Government's obligations to Swiss pre-shipment inspection (PSI) company Societe Generale Surveillance (SGS) have reached P6.4 billion as of last month. And the government still does not know where to get the money to pay SGS upon...

BIR revising guidelines on fringe benefits, minimum tax rates for firms.
March 31, 2000... To prevent further revenue losses due to "misinterpretations" of tax laws, the Bureau of Internal Revenue (BIR) plans to amend in May two "unclear" provisions of the Comprehensive Tax Reform Program (CTRP) - the first on the fringe benefits...

IMF not keen on letting gov't asset sales plug fiscal gap.
March 31, 2000... Downplaying the government's "optimistic" privatization program, the International Monetary Fund is not inclined to consider the revenues from the program to help fund the projected P62.5-billion budget gap this year. As a result, the...

Political jitters exert pressure on peso again.
March 31, 2000... Regional economic concerns as well as political uncertainties generated by the insurgency in Mindanao and allegations of corruption in government caused the peso to again weaken against the dollar yesterday. Nevertheless, the Bangko...

SEC challenges court order on BW probe.
March 31, 2000... After a slight delay, government lawyers finally appealed the freeze order the Court of Appeals issued last week, stopping the Securities and Exchange Commission from filing criminal charges against BW Resources Corp. stockholders and...

54 firms granted P218-M tax credits - after incentive's expiry.
March 31, 2000... At least 54 firms registered with the Board of Investments (BoI) are unable to press claims for tax credits worth at least P218 million from the One-Stop Shop and Duty Drawback Center (OSS) because of a "major technical blunder" by the...

Ambush victim points to MILF.
March 31, 2000... Radio commentator Samzamin Ampatuan, who survived an ambush Monday night, claims the ambush could only be the doing of the Moro Islamic Liberation Front (MILF). A report at the Philippine National Police Central Operations Center in Camp...

Santiago wants Mercado probed.
March 31, 2000... Senator Miriam Defensor Santiago wants Defense Secretary Orlando Mercado investigated for allegedly creating an office at the Department of National Defense (DND) to further his political career. The solon cited "reliable sources" from DND...

Manila water service interruption.
March 31, 2000... A large portion of Manila will be waterless starting 8 p.m., Saturday, April 1, up to 8 p.m., Sunday, April 2, to give way to a rehearsal of the dewatering process on water mains on Ramon Magsaysay Boulevard in Sta. Mesa, Manila. Maynilad...

Solons confirm phone bugging.
March 31, 2000... Leyte Rep. Sergio F. Apostol confirmed yesterday reports that the Batasan office telephones of opposition congressmen are bugged or tapped. Aside from Mr. Apostol, other lawmakers whose telephones are reportedly bugged are Quezon City Rep....

PCGG presses case vs Marcoses.
March 31, 2000... The Sandiganbayan should admit the government's evidence in a case involving the alleged "ill-gotten" shares of the Marcoses in several telecommunications firms, the Presidential Commission on Good Government (PCGG), said yesterday. In a...

Gov't to withhold employees' tax.
March 31, 2000... CEBU CITY - The Commission on Audit (CoA) is allowing the Department of Budget and Management (DBM) to withhold at source the tax on the salaries of government workers. Budget Secretary Benjamin Diokno said the withheld taxes will be released...

Puno seeks court okay for US trip.
March 31, 2000... Former Interior and Local Government Secretary Ronald V. Puno is seeking Sandiganbayan permission to seek medical treatment in the United States. In a three-page motion submitted to the anti-graft court, Mr. Puno said he needs to go the US on...

Yap replaces Valerio at OGCC.
March 31, 2000... President Joseph Estrada has appointed Immigration Associate Commissioner Alan Roullo Yap as the new head of the Office of the Government Corporate Counsel (OGCC). Mr. Yap replaces lawyer Jun N. Valerio, who was gunned down on March 18 in...

Leaded fuel phased out in MM gas stations by tomorrow.
March 31, 2000... Starting tomorrow, all gasoline stations in Metro Manila will concentrate on selling unleaded gasoline as they phase out leaded fuel. The phaseout is part of the government effort to completely halt the sale of leaded gasoline in the...

Moro, leftist rebels forge new alliance.
March 31, 2000... Communist rebels are ready to launch attacks against government troops nationwide in an effort to ease military pressure on Moro rebels in Mindanao, a former National Democratic Front of the Philippines (NDFP) consultant said yesterday. ...

Erap says he will no longer bother with critics.
March 31, 2000... TACLOBAN, Leyte (via PLDT) - President Estrada yesterday vowed to work on improving his performance even as he reiterated that he is not bothered by the continued decline in his popularity ratings. "Hindi naman popularity contest ito kung...

Cops gun down nine coco farmers.
March 31, 2000... Policemen gunned down nine unarmed coconut farmers in Zamboanga del Sur the day before yesterday allegedly due to a land dispute, the military reported yesterday. In a report, the Armed Forces of the Philippines (AFP) Southern Command...

Strike halts transport outside MM.
March 31, 2000... Various transport and cause-oriented groups nationwide staged a public transport strike yesterday to protest rising oil prices. The strike involved mostly jeepney drivers and operators in Metro Manila, and public transport groups in key...

Morato accuses Palma, Tan of pocketing funds.
March 31, 2000... Former Philippine Charity Sweepstakes Office (PCSO) chairman Manuel Morato accused yesterday his successors of pocketing millions of pesos in charity funds. During a four-hour hearing at the Senate, Mr. Morato accused former PCSO...

Court drops charges vs US sailors (Cebu cabbie accepts US navymen's apologies).
March 31, 2000... CEBU CITY - The cases of estafa and physical injuries against three US sailors accused of mauling taxicab driver Marcelo Batestil were dismissed yesterday after Mr. Batestil accepted the sailors' public apologies and told the court that he is...

Take Ten: (Un)happy days are here again.
March 31, 2000... "Happy days are here again. The skies above are clear again. So sing a song of cheer again, happy days are here again." I always loved the song. The lilting melody is catchy, the lyrics are simple and the point clear. Whenever I feel slightly...

Cocoy Laurel's Spanish melodies.
March 31, 2000... What started as an initiation into a college fraternity became an all-Spanish album entitled Te Quiero. And though it took about three decades before the dream became a reality, Victor "Cocoy" Laurel is confident that the effort will still be...

Chess Piece: First Round - Millennium Championship.
March 31, 2000... The first round of the Million-Peso First Pambansa Millennium Grand Prix started at 1:00 p.m., March 22, 2000, at the PNB Financial Center Lobby. One hundred twenty-eight (128) of our top chessers went into action in 2-game mini-matches to...

PESO Cross Rates as of March 30, 2000.
March 31, 2000... one unit Phil Aussie Bahrain Cndn French of currency peso dollar dinar dollar franc Philippines 1.0000 0.0399 0.0092 0.0355 0.1681 Australia 25.0768 1.0000 0.2305 0.8905 4.2148 Bahrain 108.7861 4.3381 1.0000 3.8630 18.2843 ...

BSP Reference Rates as of March 30, 2000.
March 31, 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 41.008000 Japanese yen 0.009460...

COURT SIDE: Asi Taulava case.
March 31, 2000... Barring any more delays in the proceedings, the Bureau of Immigration will make a ruling on the citizenship and, by extension, the playing eligibility, of Asi Taulava next week. Not surprisingly, followers of the Philippine Basketball...

SMB keeps on winning close games.
March 31, 2000... Games Today (PhilSports Arena) 5:15 pm - Sta. Lucia vs. Tanduay 7:30 pm - Mobiline vs. Alaska Games Saturday (Cagayan De Oro) 5:30 pm - SMB vs. Purefoods Games Sunday (Araneta Coliseum) 4:15 pm - Shell vs. Ginebra 6:30...

Unisys, Vento to provide systems software to Smart.
March 31, 2000... Unisys Corp. and Vento Software have announced the sale of the VentoMap for Telecommunications business intelligence solution to Smart Communications, Inc., one of the leading mobile telecommunications services providers in the country....

Marketing experts hold talk in 2-day forum.
March 31, 2000... The Philippine Marketing Association (PMA), one of the biggest marketing organizations in the country, has gathered some of the renowned and formidable names in the marketing industry as key speakers for the conference "Marketing Discipline:...

Filipino Fund posts P79-M net profit in '99.
March 31, 2000... Filipino Fund, Inc. (FFI), a publicly listed, closed-end mutual fund, declared a P0.02 cash dividend at its regular board meeting last Feb. 17. Stockholders of record as of March 3 are entitled to receive the cash dividend on April 2,...

191 nations, groups gear up for Expo 2000 in June.
March 31, 2000... Preparations for Expo 2000 have entered the homestretch. In less than 100 days, the first world exposition to be held on German soil will open in Hannover. A total of 191 countries and international organizations will present their...

European Commission calls for RP scientific proposals.
March 31, 2000... The Department of Science and Technology is set to meet with European Commission scientific officer for Asia, Michaela Wright, in an effort to encourage the growing interest of Filipino scientists to tap into the scientific cooperation...

GSIS defends nonpayment of $11-million Domsat loan.
March 31, 2000... The Government Service Insurance System (GSIS) denies the involvement of political interest in the nonpayment of an $11-million loan it guaranteed to a consortium of three Korean banks and two local banks. GSIS guaranteed the...

High Court affirms AFP ownership in six properties.
March 31, 2000... The Supreme Court recently clarified the rule on notice of lis pendens to sufficiently alert all parties in cases involving real property as to their rights and the correct course of action they should take. In the consolidated cases of...

Paging firm defers linkup talks with telcos.
March 31, 2000... Faced with stiff competition from cellular phones, the paging arm of Isla Communications Co., Inc. (Islacom) will not be establishing any interconnection agreements with other telephone companies to save on operational expenses. ...

Jardine Fleming study says Benpres can give up telco.
March 31, 2000... With Bayan Telecommunications, Inc. (BayanTel) continuously dragging its parent firm's earnings, a study said it would make more sense for Lopez-led Benpres Holdings Corp. to give up the telephone company and then lease lines from other...

Expandable homes designed for Ayala Land's Prima Casa.
March 31, 2000... For architect Francisco Manosa and his partners, developing a house for the average Filipino family is most certainly a privilege. This is why they readily accepted the invitation by Laguna Properties Holdings, Inc. (LPHI), a subsidiary...

SPECIAL FEATURE: Motoring (Summer Driving): Safety always comes first.
March 31, 2000... Packing the right swim wear and picking out a great resort is only half of the preparation needed for ensuring an enjoyable and memorable vacation this summer. In choosing a resort, rely not only on advertisements in newspapers or...

SPECIAL FEATURE: Motoring (Summer Driving): Ford 2000 F-150 Supercab launched.
March 31, 2000... Ford Motor Company continues its truck leadership by introducing a host of new features on the F-150, making it an even greater value for the 2000 model year. Some of the 2000 enhancements include a new overhead console with compass,...

SPECIAL FEATURE: Motoring (Summer Driving): Don't get ripped off at the repair shop.
March 31, 2000... It's something every car owner must go through - visits to the auto repair shop, either for regular maintenance checks or an assortment of other troubles. For despite the best maintenance, problems may occur with any mechanical device as...

SPECIAL FEATURE: Motoring (Summer Driving): Mitsubishi launches new concept in after-sales service.
March 31, 2000... This being the season for out-of-town trips, one has to make sure that the vehicle to be used is in tip-top shape. Apart from checking the vehicle a day or two before leaving, it is wise and prudent to bring it to the service center so as to...

SPECIAL FEATURE: Motoring (Summer Driving): Car cleaning tips.
March 31, 2000... It's every car owner's desire to preserve that showroom finish for his car. Unfortunately, exposure to the elements - rain, heat, dust, not to mention Metro Manila's rutted streets - robs most cars of their sheen not long after their owners...

SPECIAL FEATURE: Motoring (Summer Driving): Traveling with young children.
March 31, 2000... It's summertime again, time for parents to go vacationing with their children in tow. Car travel with children, however, requires some special and creative arrangements to keep the little ones out of trouble and to ensure that the whole ride...

SPECIAL FEATURE: Motoring (Summer Driving): Lynx embodies Ford's commitment to customer satisfaction.
March 31, 2000... Ford Motor Company Phils. has entered the competitive passenger car segment with the introduction of the all new Ford Lynx. "The Ford Lynx - with best-in-class combination of quality, safety, styling, vehicle dynamics and interior package...

SPECIAL FEATURE: Motoring (Summer Driving): Prepare for a hassle-free holiday.
March 31, 2000... Summer is in, the kids are out of school, and breaks from the office are coming up. Most families associate summer with long drives to the ancestral home, to the province, beach, or mountains - or wherever they may want to spend a few...

Phisix inches up, stays within consolidation area.
March 31, 2000... After bobbing up and down while bouncing around a tight 13-point range throughout the trading session yesterday, the equities market finally clambered onto positive territory at the close on selected buying of blue-chip stocks. Analysts,...

PDIC closes 3 rural banks.
March 31, 2000... Three rural banks were recently added to the growing list of failed banks taken over by state-owned Philippine Deposit Insurance Corp. (PDIC). In a statement, the state deposit insurer said it will start receiving claims for insured...

New SEC chief wants pre-need firms under IC.
March 31, 2000... Pre-need companies clamoring for a transfer from the Securities and Exchange Commission's (SEC) jurisdiction to the Insurance Commission's (IC) have just found an ally in newly appointed SEC chairperson Lilia Bautista. In an interview,...

Pag-IBIG's P4-B bonds today seen to fetch 7.85% yield.
March 31, 2000... The Home Development Mutual Fund (Pag-IBIG Fund) expects to get a comparable yield with the ERAP bonds for its P4 billion worth of five-year bonds to be sold today, March 31. "We hope to have a comparable yield to that of the ERAP bonds,...

BankAccounts: Leavings and goings.
March 31, 2000... Ultimatum The slowdown in bank mergers and acquisitions seems to be making BSP Gov. Paeng restless. Speaking to different audiences twice this week, the Gov threatened to lift the Bangko Sentral's moratorium on bank branch expansion. The...

Business Case Law: Acquisition of friar lands.
March 31, 2000... The Friar Land Act (Act 1120) shows that friar lands were purchased by the government for sale to actual occupants (actual settlers and occupants at the time said land are acquired by the government). The said act expressly declares that the...

Gov't studies proposal to integrate LRT-1, MRT-3.
March 31, 2000... As the June deadline for the completion of the Metro Rail Transit III (MRT-3) approaches, the government is now studying possible changes in the new railway system's design that would result in its full integration with Light Rail Transit I...

Blue Circle seeks SEC okay for Republic shares block sale.
March 31, 2000... In an effort to increase its stake in Republic Cement, Inc. (RCI), Blue Circle Phils., Inc. (BCPI) recently sought the corporate regulator's go signal to purchase an additional 25.22 million RCI shares. The said shares represent...

Ayala IT, property units set up e-business venture.
March 31, 2000... Conglomerate Ayala Corp. is moving to tie up its newly formed Internet subsidiary with property arm Ayala Land, Inc. (ALI) to create a new company that will venture into real estate e-business. In a telephone interview with BusinessWorld...

Napocor wants to buy out IPP contracts to cut down costs.
March 31, 2000... State-run National Power Corp. (Napocor) is striking out proposals to terminate existing contracts with independent power producers (IPPs). Instead, it opt to buy out some deals to cut down on costs. In an interview, Napocor president...

Lucio Tan calls on Justice chief.
March 31, 2000... Justice Secretary Artemio G. Tuquero received a number of guests yesterday, a day after the Commission on Appointments approved his assumption of the Justice portfolio. Among his well-wishers was wealthy businessman Lucio Tan, whom the...

June deadline for PNB sale may be extended.
March 31, 2000... The International Monetary Fund (IMF) may still extend its June 30 deadline for the full privatization of the Philippine National Bank (PNB) only to ensure that market conditions will enable the government to fetch a favorable and...

Napocor, Meralco agree to share Luzon market.
March 31, 2000... State-run National Power Corporation (Napocor) and distributor Manila Electric Co. (Meralco) will share in the Luzon power market to settle the 10-year power supply agreement signed in 1994. In an interview, Napocor vice-president and...

New guidelines on phone billing may start in May.
March 31, 2000... The National Telecommunications Commission (NTC) expects to publish its memorandum circular regulating billing policies of telephone companies by mid-April. This means implementation may begin in May. In a telephone interview,...

Price war seen to impede VMC-Hawaiian tie-up talks.
March 31, 2000... A proposed joint venture between cash-strapped Victorias Milling Co. (VMC) and Hawaiian-Philippines Co., Inc. (HPCI) may unlikely prosper because of an ongoing "price war" between the two sugar mills. Industry sources said the two...

Petrofields in talks with foreign IT firm.
March 31, 2000... After the acquisition of engineering school Mapua Institute of Technology (MIT), listed investment management firm Petrofields Corp. is now positioning itself to become a major player in the emerging Internet sector in the country. In a...

Dear Editor: On BW shares and PAGCOR funds.
March 31, 2000... Late February, the share market was crashing as the doom forecasters went public, after the public lost money. "Bloodbath at the stock market," was one headline on March 1st. Then a buy signal appeared as Senator Juan Ponce Enrile "urged the...

Dear Editor: Concerned about GMOs.
March 31, 2000... My major concern is about the genetically modified organisms (GMO). These are genetically altered foods, using inter - specie gene transfer to increase food supply that provides better nutrition. I am quite skeptical about this because...

House may consider oil exchange proposal - Villar.
March 31, 2000... The House of Representatives is considering the approval of a bill proposing a national oil exchange as an alternative to help bring down domestic oil prices. Speaker Manuel B. Villar, Jr. said yesterday that he is "open" to supporting...

Cement firms' incentives may be suspended by gov't (Move being considered by DTI to address industry price hike plan).
March 31, 2000... The Department of Trade and Industry (DTI) is reportedly inclined on temporarily suspending tax breaks for cement firms to restrain them from jacking up prices. A well-placed DTI source told reporters that the agency may be forced to...

Rule of Law: Not the way of cults.
March 31, 2000... With a negative rating around his neck, President Erap must be feeling the burden of leading a people whose faith in him has waned considerably. From a presidency that made a dramatic entry twenty-one months ago through the portals of...

Hither and Thither: More Asian Web tales.
March 31, 2000... HONG KONG -At midweek this week, the investment guru Mark Mobius said that tech stocks were heading for a fall. This slight left hook to the jaw sent Nasdaq down to the canvas. It's a good week to look again at business fundamentals. ...

Improved farm trade with US seen by Angara.
March 31, 2000... Agriculture Secretary Edgardo J. Angara expects trade between the Philippines and the United States to improve, noting that more American agri-business firms have expressed their interest in tying up with local companies. Mr. Angara made...