BusinessWorld (Philippines) articles from May 2006, page 20

BusinessWorld (Philippines) archives from May 2006

BYSTANDER.
May 3, 2006... (From BusinessWorld (Philippines)) Byline: Dean O. de la Paz There were no red banners with blazing gold lettering. No angled hammers, no crescent sickles, no red stars. There were no huge depictions of heroes or victims marching in...

CAPITAL VIEW.
May 3, 2006... (From BusinessWorld (Philippines)) Byline: Mercedes B. Suleik In the Philippines, May 1 is celebrated as "Labor Day," in contrast to the US, for one, which observes it in September. I am not certain of its origin, but I find it...

Corporate regulator asked not to rush OTC rules for securities.
May 3, 2006... (From BusinessWorld (Philippines)) Byline: Iris Cecilia C. Gonzales Market participants want the Bankers Association of the Philippines (BAP) to ask the Securities and Exchange Commission to conduct public hearings on the draft rules...

FAST FORWARD.
May 3, 2006... (From BusinessWorld (Philippines)) Byline: Argee Guevarra Oplan Manggagawa, a supposed dawn-to-dusk plot by the Left and the mainstream opposition to occasion the May Day protests, was largely dismissed by the public as a ruse...

UPSHOT.
May 3, 2006... (From BusinessWorld (Philippines)) Byline: Bernardo V. Lopez This graduation message is for both parents and graduating children. It revolves around the basic tenet that the spiritual precedes the material. The heart precedes the...

GRASSROOTS & GOVERNANCE.
May 3, 2006... (From BusinessWorld (Philippines)) Byline: Teresa S. Abesamis How ironic that the Supreme Court, through ponente Justice Adolf Azcuna, had to cite a Marcos era law (BP 880, passed on Oct. 22, 1985) as a basic framework against which...

AD LIB.
May 3, 2006... (From BusinessWorld (Philippines)) Byline: Greg B. Macabenta Frankly, I would rather think of May as MOM - the Month of Mothers - or in connection with Flores de Mayo. And I'd rather remember May 1, Labor Day, as the day my...

More sugar areas sought for ethanol.
May 3, 2006... (From BusinessWorld (Philippines)) Byline: Beverly T. Natividad The country has about 238,018 hectares for new sugar fields, mostly in Mindanao, that can be tapped to produce ethanol for fuel. Sugar Regulatory Administration...

Perks for hybrid cars.
May 3, 2006... (From BusinessWorld (Philippines)) The Energy department backs House Bill (HB) 4989 to exempt cars powered by alternative fuels from excise tax, Mario C. Marasigan, director- in-charge of the Energy department's Energy Utilization...

DEAR EDITOR.
May 3, 2006... (From BusinessWorld (Philippines)) Byline: Lawrence C. See I am bothered and unimpressed by the rants of Mr. Dean de la Paz in his article, "Scholarships for call centers" in his column, The Bystander. Frankly, he's not in touch...

Customs exceeds April target on NFA duties.
May 3, 2006... (From BusinessWorld (Philippines)) Byline: Felipe F. Salvosa II The Bureau of Customs has again exceeded expectations, posting a collection surplus for the fourth straight month, thanks to a huge cash payment from the state rice...

Senate seeks to tighten administration of export perks.
May 3, 2006... (From BusinessWorld (Philippines)) Byline: Francis Y. Capistrano In an effort to curb technical smuggling, the government and at least one industry group support a proposal to require exporters to pay value- added tax (VAT) and...

Subsidy for socially sensitive products eyed from oil tax.
May 3, 2006... (From BusinessWorld (Philippines)) Byline: Francis Y. Capistrano The government should use its expected windfall from value-added tax (VAT) on oil amid rising prices to subsidize socially sensitive petroleum products, a senator said....

WB guarantees for power assets.
May 3, 2006... (From BusinessWorld (Philippines)) The World Bank is considering giving risk guarantees for potential buyers of the National Government's power generation assets as a sweetener for the sector's privatization. Philippines Country Director...

Investors more upbeat - Teves.
May 3, 2006... (From BusinessWorld (Philippines)) Byline: Felipe F. Salvosa II Investors have become more bullish on Philippine economic prospects, and the government is bent on living up to expectations by keeping reform efforts on track, the head...

LET'S TALK EUROPE.
May 3, 2006... (From BusinessWorld (Philippines)) Byline: Henry J. Schumacher In a recent TV interview, customers in China were asked about their sentiment about stealing foreign ideas and technology in order to produce local brands. I was shocked...

Selling state-run RPN could cost government more due to debts.
May 3, 2006... (From BusinessWorld (Philippines)) Byline: Felipe F. Salvosa II Selling state-run Radio Philippines Network (RPN) is becoming a problem for the government as privatization officials have found that expected proceeds won't be enough...

Ayala's IMI spends P545M for Laguna plant.
May 3, 2006... (From BusinessWorld (Philippines)) Byline: Maricel E. Estavillo Ayala-led electronics firm Integrated Microelectronics, Inc. (IMI) has poured in some P545 million in new investments to expand its manufacturing operation in Binan,...

Flying V to spend P150M for gas stations.
May 3, 2006... (From BusinessWorld (Philippines)) Byline: Ira May Joyce P. Pedrasa Independent oil firm Flying V will spend roughly P850 million this year to expand its service network across the country. Flying V spokesman Macky F. Lopez said...

Local, foreign firms keen on project linking Manila railways.
May 3, 2006... (From BusinessWorld (Philippines)) Byline: Kerlyn G. Bautista The construction of the $400-million EDSA North Transit, which will link all railways in Metro Manila by 2010, drew the interests of international and local companies...

Military limits media mobility in Camp Aguinaldo.
May 3, 2006... (From BusinessWorld (Philippines)) Byline: Kristine L. Alave Armed Forces Chief of Staff General Generoso S. Senga recently ordered restrictions to contain and limit the movements of media personnel covering the Armed Forces General...

Energy chief: 525 stations now offer fuel discounts to jeepneys.
May 3, 2006... (From BusinessWorld (Philippines)) Byline: Ira May Joyce P. Pedrasa A total of 525 retail stations are now offering P1 discounts on their so-called jeepney lanes two weeks after the government called on oil firms to provide...

Kidnap-for-ransom cases up 70%.
May 3, 2006... (From BusinessWorld (Philippines)) Byline: Kristine L. Alave Seventeen kidnap-for-ransom cases were recorded in the first trimester of 2006, up by 70% from the 10 cases documented in the same period in 2005, a police official...

Arroyo reorganizes NEDA board.
May 3, 2006... (From BusinessWorld (Philippines)) Byline: Paolo Joseph L. Lising President Gloria Macapagal-Arroyo has ordered the revamp of the National Economic and Development Authority (NEDA) board, adding eight new members and replacing five...

Court grants Estrada visit to Polk St.
May 3, 2006... (From BusinessWorld (Philippines)) Byline: Paul C.H. How The Sandiganbayan Special Division has granted deposed president Joseph E. Estrada permission to go today to his Polk St. residence in Greenhills, San Juan for the celebration...

US urges stepped-up drive vs drug trafficking.
May 3, 2006... (From BusinessWorld (Philippines)) Byline: Bernardette S. Sto. Domingo The United States is urging countries to intensify anti-drug trafficking efforts to ensure success in the global fight against terrorism, adding terrorist groups...

Rising criminality worries Zamboanga officials.
May 3, 2006... (From BusinessWorld (Philippines)) Byline: Felino M. Santos Zamboanga City - Local government executives are worried that the increasing number of robberies and killings in the city could adversely affect its bid to become a major...

Court of Appeals junks Kalinga province's claim to P92-M funds.
May 3, 2006... (From BusinessWorld (Philippines)) Byline: Ma. Eloisa I. Calderon The Court of Appeals has put an end to a three-year dispute between the provincial governments of Kalinga and Mt. Province over the P92-million infrastructure funds...

Abu Sayyaf members leave Marikina safe house - police.
May 3, 2006... (From BusinessWorld (Philippines)) Byline: Kristine L. Alave The Abu Sayyaf members who were in Manila recently to plot attacks during the May 1 celebrations have fled the city, a police intelligence official revealed yesterday. ...

US breaks silence on 'peace' ad, pulls out television plug.
May 3, 2006... (From BusinessWorld (Philippines)) Byline: Romer S. Sarmiento General Santos City - The US government has broken its silence over a controversial "peace advertisement" that local officials and business leaders condemned, saying it...

Campos to assume more powers in Del Monte Pacific.
May 3, 2006... (From BusinessWorld (Philippines)) Byline: Jennee Grace U. Rubrico As part of the continuing reorganization of Del Monte Pacific Ltd. following the acquisition of the company by joint-venture firm NutriAsia Pacific Ltd., the firm...

Hanjin shipyard.
May 3, 2006... (From BusinessWorld (Philippines)) Subic Bay Freeport - Hanjin Shipping Co. Ltd., one of the leaders in global shipbuilding industry yesterday broke ground to start the construction of the $1-billion shipyard facilities which helps...

Eye care ally.
May 3, 2006... (From BusinessWorld (Philippines)) Eye care company Bausch & Lomb yesterday got support for its contact lens solution ReNu Multiplus as the top official of the Philippine Academy of Ophthalmology vouched for the safety of the product....

DMCI studying options in failed Calaca plant bid.
May 3, 2006... (From BusinessWorld (Philippines)) Byline: Ruby Anne M. Rubio and Ira P. Pedrasa Consunji-led DMCI Holdings, Inc. is still studying its options if it will increase its bid offer for the 600-megawatt Calaca coal-fired power plant put...

Semirara sets capex to address demand.
May 3, 2006... (From BusinessWorld (Philippines)) Byline: Ruby Anne M. Rubio Semirara Mining Corp., the largest coal producer in the country, will spend P1.2 billion this year as it anticipates higher coal requirements reflective of growing global...

Listed property firm posts drop in net income.
May 3, 2006... (From BusinessWorld (Philippines)) Byline: Ruby Anne M. Rubio Listed real-estate company Primex Corp. reported a 41.07% drop in net income in 2005 to P3.53 million from the restated P5.99 million the previous year amid higher...

Ayala shares.
May 3, 2006... (From BusinessWorld (Philippines)) Ayala Corp., the country's largest conglomerate, will issue redeemable preferred shares worth up to P5.8 billion at a par value seen to prepay some of its outstanding debts. Managing director Renato O....

MacroAsia dividends.
May 3, 2006... (From BusinessWorld (Philippines)) Listed holding firm MacroAsia Corp. received in cash $2.45 million last Thursday as its corresponding share of the total dividends of $5 million declared by Lufthansa Technik Philippines, Vice-President...

Paxys acquisition.
May 3, 2006... (From BusinessWorld (Philippines)) Paxys, Inc. will acquire the entire capital stock of Australia's second largest outsourced remuneration packaging administration company Smart Salary Pty. Yesterday, the Philippine Stock Exchange...

ePLDT investment.
May 3, 2006... (From BusinessWorld (Philippines)) The wholly owned subsidiary of the country's largest telecoms company, Philippine Long Distance Telephone Co. (PLDT), will buy into the online company of former Trade Minister Roberto Ongpin. ePLDT, Inc....

SMDC cash dividend.
May 3, 2006... (From BusinessWorld (Philippines)) SM Development Corp. (SMDC), the property arm of the Sy-led conglomerate SM Investments Corp., has declared a P0.08 cash dividend per share for existing shareholders as of May 26 this year. SMDC...

Cityland Q1 sales.
May 3, 2006... (From BusinessWorld (Philippines)) Listed property developer Cityland Development Corp. reported a 76.87% increase in its first-quarter sales this year, buoyed by the increasing demand for the company's residential and office spaces....

BUSINESS CASE LAW.
May 3, 2006... (From BusinessWorld (Philippines)) Byline: Judge Artemio S. Tipon (Ret.) Who has a better title to a piece of land, one who possessed and cultivated the same since 1929 up to the present but does not have a certificate of title or to...

Normal rainy season to start mid-May; La Nina nearly over.
May 3, 2006... (From BusinessWorld (Philippines)) Byline: Beverly T. Natividad Days of sweltering heat may soon be over as the Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA) yesterday said the rainy season is...

Cashrounds suspension.
May 3, 2006... (From BusinessWorld (Philippines)) The Philippine Stock Exchange (PSE) has indefinitely suspended the trading on the shares of listed online investment broker Cashrounds, Inc. starting yesterday following the company's share-swap...

Committee to monitor May Day package.
May 3, 2006... (From BusinessWorld (Philippines)) Byline: Judy T. Gulane The government is forming a tripartite committee to monitor the implementation of the nonwage benefits President Gloria Macapagal-Arroyo promised during Labor Day. The...

Minimum wage hikes may take 'til July to implement.
May 3, 2006... (From BusinessWorld (Philippines)) Minimum wage adjustments for private sector workers, endorsed by President Gloria Macapagal- Arroyo last Monday as part of her May Day package, may take two months to implement, a senior labor official...

Financial statements deadline expires (Regulator ready to impose sanctions).
May 3, 2006... (From BusinessWorld (Philippines)) Byline: Jeffrey O. Valisno An extended deadline for the submission of 2005 financial statements compliant with new accounting standards lapsed yesterday with no further extension forthcoming from...