BusinessWorld (Philippines) articles from March 2010

BusinessWorld (Philippines) archives from March 2010

Cherry Mobile offers promotions via festival.
March 31, 2010... Cherry Mobile is giving back to the consumers and distributors responsible for putting Cherry Mobile on the map through launching the Cherry Mobile Festival campaign. The Cherry Mobile Festival is a two-month-long, nationwide sale of 42...

PEOPLE.
March 31, 2010... McCann appoints CEO as board chairman McCann Worldgroup (MWG) Philippines announces the appointment of President and CEO Patricia "Ricki" Arches as chairman of the Board of Directors, after a recent stockholders' meeting. Ms. Arches...

CCP names new music director.
March 31, 2010... Byline: Sam L. Marcelo Of the three men short-listed for music director by the Cultural Center of the Philippines, French-American Olivier Ochanine had the shortest resume. Despite his relative inexperience, he won against the likes of Robert...

Treasury caps 7-year bond.
March 31, 2010... Byline: Louella D. Desiderio The government partially rejected bids for seven-year Treasury bonds yesterday to cap the coupon rate at 7%. The government sold P8.21 billion worth of fresh seven-year T-bonds instead of the planned P8.5...

Cheap housing loans on offer.
March 31, 2010... BPI Family Savings Bank and listed property developer Robinsons Land, Inc. have teamed up to make it easier for those without houses to own one. From April 9 to 11, people who take out loans from BPI Family at Robinsons Galleria and Ermita to...

Consultations set on wage hike plea for Metro Manila.
March 31, 2010... CONSULTATIONS with various sectors on a P75 raise in daily minimum wage proposed by the country's biggest trade union for the National Capital Region (NCR), or Metro Manila, have been set for next month, a statement issued yesterday by NCR's...

Davao IT sector eyes India ties.
March 31, 2010... Byline: Carmelito Q. Francisco DAVAO CITY - Government officials and business leaders representing the city's information and communications technology (ICT) industry have signed a memorandum of understanding (MoU) with the Electronics and...

Land titling rules rushed.
March 31, 2010... Byline: Kristine Jane R. Liu THE DEPARTMENT of Environment and Natural Resources targets to issue by next week the guidelines for a recently signed law that makes it easier for those living on untitled lands to apply for residential titles....

E. Visayas scrambles to give jobs to graduates.
March 31, 2010... Byline: Sarwell Q. Meniano TACLOBAN CITY - The office in Eastern Visayas of the Department of Labor and Employment (DoLE) is stepping up employment enhancement initiatives as around 17,000 new college graduates join the labor force this year....

Economic planner cites thrusts.
March 31, 2010... THE GOVERNMENT has identified at least four thrusts to help the country achieve faster sustainable growth, an official of the socioeconomic planning agency said in the briefing for local government and private sector leaders in Davao City last...

BRIEFS.
March 31, 2010... Fuel your fun with the redesigned Volvo C30 When it burst on the scene just three years ago, the Volvo C30 caused more heads to swivel than a fashion show. Most eyes were focused on the unique rear styling that set it apart from the pack. For...

AD LIB.
March 31, 2010... There's an axiom in advertising that says, a great campaign can expose a bad product faster - because it persuades people to try the product sooner and to find out how bad it is. It looks like this axiom is being proven true in the case of...

CAPITAL VIEW.
March 31, 2010... Byline: Mercedes B. Suleik Some years ago, a hullabaloo was raised over a 1987 article written by James Fallows that expressed the view that the Filipinos suffered from a "damaged culture." The thesis was that despite the ouster of Ferdinand...

CORE.
March 31, 2010... Byline: Benjamin E. Diokno During her final days in office, one among Mrs. Arroyo's wishes is that the Philippine government's credit rating would get upgraded. That wish, unfortunately, is unlikely to be granted. The bottom line is that...

Miners ordered to adopt new reporting standards.
March 31, 2010... Byline: Kristine Jane R. Liu The Department of Environment and Natural Resources (DENR) has ordered mining firms to adopt a standard reporting system for mineral exploration results, in a bid to comply with global standards and prevent...

Travel agents told: Innovate or lose market.
March 31, 2010... Travel agencies risk losing their business to the growing numbers of "expert travellers" soon if they fail to offer new services for this do-it- yourself market, tourism technology provider Amadeus Philippines said. "In the next three to five...

Floirendos in joint venture with Korea, Japan firms.
March 31, 2010... Byline: Carmelito Q. Francisco DAVAO CITY - Anflo Management and Investment Corp. of the Floirendo family has tied up with South Korea's CJ Cheiljedang Corp. and Binggrae Co. as well as Japan's Toyota Tsusho Corp. for a venture that will...

Gov't awards exploration permits to 17 mining companies.
March 31, 2010... Byline: Kristine Jane R. Liu The government has given the go-signal for 17 companies to start exploring their mining tenements in line with a goal of boosting interest in the capital-intensive industry. Data from the Mines and Geosciences...

Land Rover sees faster growth in RP sales with new variants.
March 31, 2010... Byline: Jessica Anne D. Hermosa Sales of Land Rover vehicle models in the Philippines are expected to grow faster this year alongside a forecast 30% hike in regional sales, an official from the local distributor said last week. The coming...

Lottery equipment provider hikes sales, profits by a tenth.
March 31, 2010... Byline: Emilia Narni J. David Listed Pacific Online said revenues for the first two months of the year reached P183.5 million due to additional lottery terminals deployed and improved distribution of lotto scratch tickets. In a disclosure...

SC reiterates appointment rule.
March 31, 2010... Byline: Ira P. Pedrasa PRESIDENT GLORIA Macapagal-Arroyo does not have the power to issue appointments other than for vacant posts in the Supreme Court (SC), Court Administrator and spokesman Jose Midas P. Marquez said yesterday. "The...

Cooking gas price cut unlikely for April.
March 31, 2010... Byline: Jose Bimbo F. Santos COOKING GAS prices may likely be maintained in April, a bulk seller of the basic commodity said, with the anticipated decline in rates already factored in through a series of price cuts implemented since early...

Bayan Muna seeking removal of Arroyo as party-list nominee.
March 31, 2010... Byline: Ana Mae G. Roa Ang Galing Pinoy (AGP) party-list nominee and exiting Pampanga Rep. Juan Miguel "Mikey" M. Arroyo is facing a new disqualification case filed by Bayan Muna yesterday with the Commission on Elections (Comelec). In a...

Manual delisting of double registrants ordered.
March 31, 2010... Byline: Ana Mae G. Roa and Joel B. Escovilla THE COMMISSION on Elections (Comelec) would manually weed out over 700,000 names with double registration from the voter list before election day, a poll official said yesterday. Commissioner...

Teodoro quits as party chairman, still pursuing bid.
March 31, 2010... Byline: Ana Mae G. Roa GILBERTO "GIBO" C. Teodoro, Jr. has quit as chairman of Lakas- Kabalikat ng Malayang Pilipino-Christian Muslim Democrats (Lakas-Kampi-CMD) but will remain as its standard-bearer. Teodoro spokesman Mike T. Toledo said...

Police, military, Coast Guard tighten security for Lenten break.
March 31, 2010... Byline: Kathleen A. Martin AUTHORITIES ARE beefing up security as thousands are expected to trek to the provinces for the Holy Week break. Mandatory security checks at airports, seaports and bus terminals would be conducted under Oplan...

Presidential candidates take time off.
March 31, 2010... Byline: Aura Marie P. Dagcutan PRESIDENTIAL CANDIDATES would be spending time with their families with the campaign ban imposed by the Commission on Elections (Comelec) on Maundy Thursday and Good Friday. "We will not have any campaign...

April 3 a holiday, says Palace.
March 31, 2010... Malacanang has officially declared April 3 a special non-working holiday in observance of Holy Week. Executive Secretary Leandro R. Mendoza has signed on behalf of President Gloria Macapagal-Arroyo Proclamation 2029 on March 24 that set the...

State to appeal Ampatuan rebellion case dismissal.
March 31, 2010... Byline: Gerard S. dela Pena and Darwin T. Wee THE EXECUTIVE would appeal a lower court's decision that cleared leaders of the Ampatuan clan from rebellion charges, citing other cases involving the family who was implicated in a carnage four...

Services at state-run hospital unhampered amid mass leave.
March 31, 2010... Byline: Aura Marie P. Dagcutan SERVICES AT state-owned Philippine General Hospital (PGH) remains unhampered despite the leave of absence of 62 doctors in protest over the hospital director's ouster, the hospital spokesman said. "We assure...

Economic Indicators.
March 31, 2010... Byline: Mary Grace M. Gato February saw a marginal weakening of the buying power of the peso amid price hikes. The peso's real value, as measured by the peso purchasing power (PPP), dipped to 60.75 centavos in February versus January's...

Economic Indicators.
March 31, 2010... Byline: Mary Joy Katrina R. Contreras Wholesalers saw prices jump up by 5.7% in December on higher costs of fuels and related goods, data from the National statistics Office show. Costs of fuels and related products leapt by 20% in...

Sans Palace order, VAT on tolls to push through.
March 31, 2010... Byline: with Emilia Narni J. David Tollway operators will be subject to the 12% value-added tax starting tomorrow despite a request by regulators for a delay, the Bureau of Internal Revenue (BIR) yesterday said. Motorists, however, will be...

Pangilinan group hikes Meralco stake (Option to purchase Lopez stake.
March 31, 2010... The group of businessman Manuel V. Pangilinan yesterday finalized the acquisition of an additional 6.6% stake in Manila Electric Co. (Meralco) from the Lopez family, officially bringing its total shareholdings in the country's largest power...

Monetary Board approves plan to sell up to $1B in OFW bonds.
March 31, 2010... The Monetary Board has approved in principle the government's plan to sell up to $1 billion in bonds to investors including migrant Filipinos, but an official said the policy-making body still had some questions about the proposed sale. The...

Share prices surge to 25-month peak.
March 31, 2010... Byline: Judy Dannibelle T. Chua Co The local bourse hit a fresh 25-month high yesterday, breaching the 3,200 level, driven mainly by Moody's "stable" outlook and the upbeat mood in overseas markets. Window dressing also accounted for the...

GIVE AND GO.
March 31, 2010... Byline: Michael Angelo S. Murillo When the Coca-Cola Tigers trek to the hardwood today they will only have one thing in mind, that of extending the favorable start they have had so far in the ongoing Philippine Basketball Association Fiesta...

DoT preparing for Holy Week observance in Central Luzon.
March 31, 2010... Rediscover the roots of our Christian faith and unravel the heritage destinations of Central Luzon this Holy Week. According to Department of Tourism (DoT) Director for Region 3 Ronaldo Tiotuico, Central Luzon is an ideal destination to...

BRIEFS.
March 31, 2010... Service continues Metropolitan Bank & Trust Company (Metrobank) will continue to provide service to the public during the Holy Week. Select Metrobank branches will be open on April 1, 3, and 4. The complete list of the branches can be...

ONSTAGE.
March 31, 2010... Byline: Juan Antonio Lanuza I take this opportunity to wish all of you a very Holy and Happy Easter. Take the time to thank the Lord for all He has given you. On March 11, Russian pianist Vladimir Ashkenazy and his sons Dmitri (clarinet)...

ARTS & CULTURE.
March 31, 2010... Stations of the Cross at Ayala Museum The Stations of the Cross series by Claude Tayag are on display at the Glass Lane, 3rd floor of the Ayala Museum until May 16. In this series, the artist portrays each dramatic encounter in the Passion of...

PETA wins big at Gawad Buhay! Awards.
March 31, 2010... Byline: Sam L. Marcelo Ballet Philippines (BP), the Philippine Educational Theater Association (PETA), and Repertory Philippines (Rep) emerged big winners in the second Gawad Buhay! PHILSTAGE Awards for the Performing Arts. Held last...

Rules out on microfinance raters.
March 31, 2010... Byline: Don Gil K. Carreon Agencies that rate the soundness of microfinance institutions, including banks, must first seek accreditation from the central bank before they can do so. The Bangko Sentral ng Pilipinas (BSP), in a statement...

Dollar demand tamps peso rise.
March 31, 2010... Byline: Judy Daniebelle T. Chua Co The peso extended its rally against the dollar yesterday, but demand for the greenback from importers covering their month-end requirements tempered its appreciation. The local currency closed at P45.29...

Trust association expects assets to surge by double digits.
March 31, 2010... Byline: Don Gil K. Carreon The Trust Officers Association of the Philippines (TOAP) expects the assets it manages to continue surging this year, although not at the same pace recorded last year. In a speech during the group's annual...

LET'S TALK EUROPE.
March 31, 2010... Byline: Henry J. Schumacher Now that Greece has hit the wall, even the strongest advocates of national sovereignty in Europe realize the need for a common European economic regime. Europe's new president, Herman Van Rompuy, does not have a...

Region XI's shipments of banana drop.
March 31, 2010... Byline: Joel B. Escovilla DAVAO CITY - The value of Davao Region's banana exports dipped 14% year on year in the first two months of the year, confirming a previous report from the Pilipino Banana Grow-ers and Exporters Association (PBGEA)...

Land Rover Phils. targets sales boost with new models.
March 31, 2010... Byline: Jessica Anne D. Hermosa It was a disconcerting sight. Brawny 4x4s - Land Rover models to be exact - ambling not on rocky terrain but around the paved Powerplant parking lot smack in the middle of the Rockwell business district. ...

Repro or retro?
March 31, 2010... Byline: Tito F. Hermoso In late 1956, Sir Alec Issigonis, car designer at BMC (British Motor Corp.), was tasked to create a small car that allocated maximum space to people. To do this, Sir Alec designed the first transverse engine-gearbox...

NOT SO FAST.
March 31, 2010... Byline: Tito F. Hermoso As life goes on in the post-Bayani MMDA, 1206AM MMDA Radio has reformatted to make timely reports on significant traffic hot spots as monitored on the CCTV system. It has thankfully eschewed its Goebbels-like tinge of...

Iloilo, Guimaras offering Holy Week tours for the religious.
March 31, 2010... Byline: Francis Allan L. Angelo ILOILO CITY - Vacationers may still tour Iloilo and Guimaras Island this week without losing the religious aspect of the Lenten season. On its fourth year, the Iloilo City Tourism and Development Office...

Prices flat on window dressing, profit taking.
March 30, 2010... Byline: Judy Dannibelle T. Chua Co Share prices fell yesterday after investors cashed in gains from a four-day rally last week, analysts said. Window dressing, however, prevented the market from posting a bigger decline. The benchmark...

COURTSIDE.
March 30, 2010... Byline: Anthony L. Cuaycong For the record, yesterday didn't mark Zydrunas Ilgauskas' first return to active duty following the severance of his ties with the Wizards last month; prior to the Cavaliers' homestand against the Kings, he had...

GIVE AND GO.
March 30, 2010... Byline: Michael Angelo S. Murillo Just as survey numbers are "in" nowadays in the run-up to the national elections, the Philippine Basketball Association has come out with its own "voting" results. Nope, they are not for the May 10 polls, but...

Encoder eligibility to qualify certain workers for IT posts.
March 30, 2010... The Data Encoder Eligibility may now be used for appointment to certain information technology (IT) positions in government. Under Civil Service Commission (CSC) Resolution No. 100319, the Data Encoder Eligibility shall continue to be...

RCBC cardholders reaching one million.
March 30, 2010... Due to the popularity of its MyWallet cash card product, Rizal Commercial Banking Corp. (RCBC) disclosed that it has amassed close to a million cardholders to date. RCBC executive vice-president and Retail Banking head Ismael Sandig revealed...

PR Gaz Holdings to open more retail stores.
March 30, 2010... PR Gaz Holdings, Inc. (PRGH), the Philippines' first convenience store chain of LPG products and services, has officially announced its development plans starting with the unveiling of its modernized brand identity. PRGH Chairman and Chief...

Premiere Bank offers personalized ATM cards.
March 30, 2010... MY CARD, Premiere Bank's personalized ATM card where depositors can place their favorite photo on the cover, has already attracted numerous customers. With its huge success, Premiere Bank has now launched 12 new designs to choose from....

PEOPLE.
March 30, 2010... Pirodon returns to InterContinental Manila Christian Pirodon returns anew to InterContinental Manila as general manager while Charles Marshall moves to Malaysia as area general manager for the InterContinental Hotels Group and general manager...

BRIEFS.
March 30, 2010... Preparations set Anticipating the influx of motorists especially along major thoroughfares in Metro Manila and provinces during the Lenten season, the Department of Public Works and Highways makes the necessary preparations to assure road...

TV5 relies on youthful vibe, talent strength.
March 30, 2010... Byline: Johanna D. Poblete TV5, the No. 3 station in the country, hopes that its product line-up will pull in more of the viewing audience, particularly as it has taken a flexible stance in employing talents - a combination of the seasoned...

Networks beef up early morning shows.
March 30, 2010... Byline: Jeffrey O. Valisno The battle for TV viewers goes beyond prime time, as networks scout for new timeslots to conquer, and dominate amid the intense competition for audience share. Rivals ABS-CBN Broadcasting Corp. and GMA Network,...

Insurance fund eyes RP.
March 30, 2010... Byline: Don Gil K. Carreon An international investment fund specializing in microinsurance is looking for local partners, noting the country's large untapped market and the government's promotion of the low-cost insurance product. In a...

NEDA-ICC approves P5-billion flood control project for Capiz.
March 30, 2010... Byline: Francis Allan L. Angelo ILOILO CITY - A P5-billion project aimed at solving the flooding problem in the province of Capiz has been endorsed to the National Economic and Develop-ment Authority (NEDA) Board for funding by Japan. ...

Subsidies to state firms drop by 40% in first two months.
March 30, 2010... Byline: Louella D. Desiderio NATIONAL GOVERNMENT subsidies to state firms dropped by 40% to P834 million as of end-February from P1.38 billion a year ago, data from the Finance department showed. The 10 state firms that got the biggest...

Gov't to spend P162 million to buy thousands of cattle.
March 30, 2010... Byline: Kristine Jane R. Liu THE GOVERNMENT has ear-marked about P162 million to buy more than a thousand imported cattle to improve the genes of local stock. In a newspaper advertisement yesterday, the Agriculture department said it is...

Davao intellectual property office receives 115 applications.
March 30, 2010... DAVAO CITY - The Intellectual Property Satellite Office (IPSO) in this city has received 115 applications since it opened in November 2008. Lucky Siegfred M. Balleque, head of the Davao IPSO which covers the whole of Mindanao, said the tally...

Region XI communities get P3.4-M Japanese aid.
March 30, 2010... Byline: Joel B. Escovilla DAVAO CITY - The Japan International Cooperation Agency has provided P3.4 million worth of agribusiness projects in the Davao Region, the Agrarian Reform director for the region said yesterday. The projects, under...

LET'S TALK TAX.
March 30, 2010... Byline: Jean Ross I. Abenasa As the Bureau of Internal Revenue (BIR) is bent on improving tax collection efforts more and more these days, the taxpayer's remedy of protesting a deficiency tax assessment becomes a paramount consideration in...

TO TAKE A STAND.
March 30, 2010... Byline: Oscar P. Lagman, Jr. Anti-corruption activists launched last week the Philippine Public Transparency Reporting Project (PPTRP), which aims to build from the grassroots "a constituency for change" to battle graft and corruption. PPTRP...

FENCE SITTER.
March 30, 2010... Byline: Antonio R. Samson Franz Kafka was an Austrian writer born in Prague (rhymes with drag), capital then of Bohemia, but now part of the Czech Republic. He lived from 1883 to 1924 and is best known for elevating cluelessness to the...

MAP INSIGHTS.
March 30, 2010... Byline: Eusebio V. Tan 2009 was a very difficult year. In the first half of 2009, GDP growth dropped, public consumption growth retracted, and fixed capital investments and net exports fell. We were reeling from the effects of the global...

FRAMEWORK.
March 30, 2010... Byline: Elfren Sicangco Cruz First conferred in 1979, the PAX Award of St. Scholastica's College has a roster of 41 Filipino women awardees. These include Supreme Court Justice Cecilia Munoz Palma, the first awardee; national heroine...

OFW bond issue to be mostly in dollars - Tan.
March 30, 2010... The bulk of a retail bond issue targeted at overseas Filipino workers (OFWs) will be denominated in US dollars, National Treasurer Roberto B. Tan yesterday said. If the proposed amount of $500 million for the issue is approved, 80% or $400...

PRODUCT REVIEW.
March 30, 2010... Byline: Mira B. Gloria Sony must have been under so much pressure to up the ante of pocket HD camcorders that it came out rather hastily with a new lineup this year, replacing the Sony MHS-PM1 and MHS-CM1, also known as "Webbies." ...

PHILIPPINE SILICON VALLEY.
March 30, 2010... Byline: Dennis Posadas So once again, last Saturday, the country "celebrated" the hype that is Earth Hour. Don't get me wrong, I'm all for the symbolism of Earth Hour - of cutting carbon emissions and reducing our footprint to reduce the risk...

Top manufacturer of truck bodies expands Cavite plant.
March 30, 2010... Byline: Jessica Anne D. Hermosa Centro Manufacturing Corp., a supplier of truck bodies to big-name vehicle assemblers, has set up a new production line at its Cavite plant in anticipation of higher sales this year, an official said in a...

Global Green Power taps two firms for biomass power.
March 30, 2010... Byline: Jose Bimbo F. Santos BRITAIN'S GLOBAL Green Power Plc. has appointed a contractor for two biomass power plant projects, kicking off the company's long-term goal of developing 420 megawatts (MW) of renewable power in the country. In...

Alsons nearly triples profit; cancels ethanol project.
March 30, 2010... Byline: Neil Jerome C. Morales Profits of listed holding firm Alsons Consolidated Resources, Inc. almost tripled to P278 million last year, surpassing the company's projection. Alsons Consolidated reported a 178% increase in net income to...

Zamboanga mine yields $18M for TVI Pacific.
March 30, 2010... Canadian miner TVI Pacific, Inc. posted profits last year after its Canatuan copper mine in Zamboanga del Norte reached full-scale operation. The firm said in a statement yesterday that net income reached $18.32 million last year, a...

Investment board grants tax perks to Samar factory.
March 30, 2010... The Board of Investments has granted tax perks to a P4.7-million fiber-optic factory in Calbayog, Samar, the Trade department said in a statement yesterday. The factory run by Filipino-owned DMSI International Fiber Manufacturing qualified...

AgriNurture planning follow-on share offering to raise P1.5B.
March 30, 2010... Byline: Kristine Jane R. Liu Listed agribusiness firm AgriNurture, Inc. wants to raise an additional P1.5 billion via the equity market and is looking at listing one of its affiliates. AgriNurture Chief Executive Officer Antonio L. Tiu...

Sale of P354M worth of shares called off.
March 30, 2010... Byline: Neil Jerome C. Morales Listed Chemical Industries of the Philippines, Inc. (Chemphil) has called off the P354-million sale of its stake in subsidiary LMG Chemicals Corp. to a local holding firm. "The intended sale among Chemphil...

Credit agency upgrades rating of bonds issued by First Gen.
March 30, 2010... Local credit agency Philippine Rating Services Corp. (PhilRatings) has upgraded the rating for P5 billion worth of bonds issued by First Gen Corp. PhilRatings gave the outstanding bonds of the Lopez-led energy firm a "PRS Aa," two notches up...