BusinessWorld (Philippines) articles from May 2006

BusinessWorld (Philippines) archives from May 2006

SPECIAL FEATURE.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Gerard S. dela Pena The economic turnaround in the first quarter of the year has raised hopes among investors that investment channels such as trust products would provide better yields....

SPECIAL FEATURE.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Cherry C. Bobadilla Whether in preparing an investor's portfolio or managing a fund, risk management is an integral component of the trust business. And while other trust institutions...

SPECIAL FEATURE.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Cherry C. Bobadilla Rizal Commercial Banking Corp. (RCBC) has retained its No. 1 ranking in the Watson Wyatt Philippines, Inc. Survey of Investment Performance for Retirement Funds. ...

SPECIAL FEATURE.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Cherry C. Bobadilla A trust arrangement is rooted in faith between trustor and trustee. An investor has to be confident that his chosen fund manager will be able to grow his assets. A...

SPECIAL FEATURE.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Gerard S. dela Pena Considering that a trust institution deals with sudden twists and turns in the financial world in its effort to give the best possible returns to investors, attributes...

SPECIAL FEATURE.
May 31, 2006... (From BusinessWorld (Philippines)) Understanding the unfamiliar usually means comparing it with something that's familiar. When one is educating oneself about a new investment, reference points are necessary. In the case of trust...

SPECIAL FEATURE.
May 31, 2006... (From BusinessWorld (Philippines)) The Nissan Murano has caught the fancy of moneyed motorists wanting a crossover sport utility vehicle (SUV) providing a high level of features at a reasonable price. With its unique styling,...

SPECIAL FEATURE.
May 31, 2006... (From BusinessWorld (Philippines)) The readers of the Austrian motoring magazine Firmenwagen have voted the Mercedes-Benz S-Class as "Fleet Car of the Year 2006" in the luxury car category. Previously, the Mercedes flagship model...

SPECIAL FEATURE.
May 31, 2006... (From BusinessWorld (Philippines)) In the current dearth in the hatchback category, Chevrolet introduces the Aveo, a five-door mini that is sexier, more elegant, and more desirable than its predecessors. Together with its competitors...

Culture important in achieving Millennium Development Goals.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Josefa Labay Cagoco The region is on target with accomplishing most of the goals identified in the Millennium Declaration, said Association of Southeast Asian Nations (ASEAN)...

Six artists receive Presidential Medal of Merit.
May 31, 2006... (From BusinessWorld (Philippines)) Expatriate Filipinos and a Canadian citizen were honored with the Presidential Medal of Merit Award. As part of the festivities of the National Heritage Month, President Gloria Macapagal-Arroyo conferred...

SPECIAL FEATURE.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Cherry C. Bobadilla With estimated assets of P230 billion for the first three months of the year, unit investment trust funds (UITFs) have contributed significantly to the growth of the...

Lola's lost treasures.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Nilo A. Yacat In the dimness of the stage, an empty rocking chair, decrepit, solitary, tilts sluggishly as a wisp of breeze blows. The sight conjures up visions of ghostly apparitions. But...

Marathon Noli reading.
May 31, 2006... (From BusinessWorld (Philippines)) On the occasion of the official inauguration of its new building, Instituto Cervantes invites all Spanish speakers and students in Manila to pay tribute to Jose Rizal's work by taking part in the first...

BRIEFS.
May 31, 2006... (From BusinessWorld (Philippines)) Ateneo Art Gallery Cross Encounters, an exhibit of work produced by 2005 Ateneo Art Awards Winner Ronald Venture, is ongoing until July 21. The gallery is located on the Ground Floor, Rizal...

COURTSIDE.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Anthony L. Cuaycong I know, Detroit fans, that you can't be faulted for your unshakable faith in your team. Given its proven capacity to hurdle seemingly insurmountable obstacles, I realize...

2006 FIFA World Cup live at Traders Hotel.
May 31, 2006... (From BusinessWorld (Philippines)) Traders Hotel Manila is all geared up for the live coverage of the 2006 FIFA World Cup, hosted by Germany. Thirty-two countries will be competing for the coveted award. Beginning June 10, live games...

SPECIAL FEATURE.
May 31, 2006... (From BusinessWorld (Philippines)) ING Group is a global financial services company of Dutch origin with 150 years of experience in providing a wide array of banking, insurance, and asset management services in over 50 countries. ...

SPECIAL FEATURE.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Johanna Paola D. Poblete If there's one thing that the luxo-cruiser and the performance- oriented exotic have in common with the econo-box, it's technology - albeit to different degrees. ...

AD LIB.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Greg B. Macabenta Part of urban legend is how President Ramon Magsaysay proposed solving the economic problems of the Philippines by repealing the Law of Supply and Demand. And then there...

CAPITAL VIEW.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Mercedes B. Suleik It is refreshing to finally see a proposed law that recognizes the right of man over that of the state. Among the bills that purport to protect the economic well-being of...

FAST FORWARD.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Argee Guevarra The assassination of erstwhile Bicol region NPA chieftain Sotero Llamas marks the official announcement by fascist forces within the AFP of an escalation of the pogrom against...

ONSTAGE.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Juan Antonio Lanuza By the time I checked into the very elegant and comfortable Conrad Hotel in Hong Kong on May 19, it was a tad too late for me in my present condition to dash out to the...

UPSHOT.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Bernardo V. Lopez This is a sequel to last week's column, "Letters from Germany." The German ambassador to the Philippines Axel Raimund Weischaupt said there will be no more German...

GSIS withdraws sale offer.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Ma. Elisa P. Osorio State-run pension fund Government Service Insurance System (GSIS) is shelving its plan to sell its 12.15% stake in Equitable PCI Bank until such time that the price per...

Shoptalk.
May 31, 2006... (From BusinessWorld (Philippines)) Jun Santiago to BIR? Even as it awaits Finance Secretary Margarito B. Teves's decision on the fate of Internal Revenue Commissioner Jose Mario C. Bunag, Malacanang is said to be inclined on...

PNB projects 22% growth on sale of bad assets.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Ma. Elisa P. Osorio Lucio Tan-led Philippine National Bank (PNB) announced yesterday that its net income is projected to grow by 22% this year to P760 million. Speaking before...

Mutual fund gains threefold.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Jeffrey O. Valisno Higher gains from investments helped mutual fund company MAA Privilege Dollar Fixed Income Fund, Inc. post a hike in its bottom line for 2005. In a report, MAA said...

Upbeat growth data lift bearish market.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Ruby Anne M. Rubio Anticipating an upbeat first quarter growth data, the stock market yesterday broke off the negative trend buoyed by investors accumulating recently bearish shares. ...

GRASSROOTS & GOVERNANCE.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Teresa S. Abesamis The Panibagong Paraan (New Ways) event at the SM MegaTrade Hall last Friday and Saturday, and not The Da Vinci Code, was, for me, the most exciting show this month. There...

Six teams out to better fuel economy record.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Ira May Joyce P. Pedrasa Beating a record set by Pocholo Ramirez is a tall order, as the motorsports legend does know how to play the game. But for Petron Corp., there are 1,001 ways to...

Isuzu on top in RP, other car markets.
May 31, 2006... (From BusinessWorld (Philippines)) The Philippines was one of the 22 countries in the world where commercial vehicles by Isuzu Motors Limited topped their respective classes last year. Isuzu Philippines Corporation (IPC) was top in...

A car's interior says a lot about the owner.
May 31, 2006... (From BusinessWorld (Philippines)) If you're like most people on the go, your car is your second home. Off hours, it could be your best friend, ferrying you from destination to destination. It's also what enables you to help friends and...

NOT SO FAST.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Tito F. Hermoso Don't be led astray by today's high oil prices. This is not the first time in world history that oil prices have been high, as we economists say, in real (adjusted to...

Thrift banks improve on loans, idle assets.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Iris Cecilia C. Gonzales Thrift banks sold more soured loans and idle assets in the first quarter compared to the same period last year. The Bangko Sentral ng Pilipinas reported...

G-77 countries, China urged to ratify UN pact on migrants.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Bernardette S. Sto. Domingo Foreign Affairs Secretary Alberto G. Romulo is calling on fellow members of the Group of 77 (G-77) and China to sign and ratify a United Nations convention aimed...

Technical rally lifts peso.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Karl Lester M. Yap The peso yesterday strengthened against the dollar amid a technical correction, dealers said. "The peso recovered a bit. It was a continuation of its correction...

A short but hot Civic drive.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Arnold A. Belleza Blame Cebu Pacific, the airline that bills itself to be "on time 99% of the time". Falling victim to statistics meant a flight that was delayed in spades, and not enough...

PNP tags Honasan's Guardians for spate of murders.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Kristine L. Alave The Philippine National Police (PNP) yesterday tagged a civilian military organization founded by fugitive ex-Senator Gregorio "Gringo" Honasan for the violence against...

Policy up to fight mobile spam.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Maricel E. Estavillo The National Telecommunications Commission (NTC) is about to implement a stop-gap measure against mobile spam that is patterned after a Hong Kong policy. Under the...

Upgrade of 15 airports may be snagged due to budget cut.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Paolo Joseph L. Lising The Department of Transportation and Communication will have to forgo the upgrade of at least 15 airports originally lined up under its proposed budget this year. ...

Global Steel set to export to Europe, US markets.
May 31, 2006... (From BusinessWorld (Philippines)) The recommissioned hot strip mill of Global Steel Philippines, Inc. is expecting to start exporting hot rolled coils (HRC) to Europe and the United States as early as next month. The export will be...

Robinsons Land to offer 450M shares to institutional investors.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Ruby Anne M. Rubio Listed property firm Robinsons Land Corp. will offer up to 450 milion common shares to international institutional investors and domestic qualified institutional...

Pfizer to intensify campaign for anti-smoking product.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Rommer M. Balaba with AFP Pfizer Philippines, Inc. is not expecting to generate revenues in the next three years for its newly introduced nicotine replacement therapy (NRT) brand Nicorette,...

Piltel to increase provincial rates.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Maricel E. Estavillo Pilipino Telephone Corp. (Piltel) is set to increase its rates for its telephone exchange and public calling office operation in the provinces, following the recent...

Medical transcription.
May 31, 2006... (From BusinessWorld (Philippines)) STI, one of the largest network of colleges in the country, teamed up with US-based medical transcription company PHNS, Inc. to acquire a majority stake in local medical transcription company Summit...

Appeals court orders army to explain arrests.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Bernardette S. Sto. Domingo The Court of Appeals wants the Philippine Army to produce in court two suspected members of the New People's Army who were allegedly arrested by the military...

Banco Filipino claims.
May 31, 2006... (From BusinessWorld (Philippines)) The Bangko Sentral ng Pilipinas (BSP) said it is awaiting the decision of Makati regional trial court on whether or not the liabilities of the now defunct Central Bank of the Philippines would also be...

GSIS investment.
May 31, 2006... (From BusinessWorld (Philippines)) The Government Service Insurance System (GSIS) will seek assistance from the World Bank in selecting fund managers for its $100-million investment abroad. Under its charter, the GSIS is allowed to invest...

Call center braves IPO waters to raise P6 million.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Ruby Anne M. Rubio Call center company Pikeville Bancshares, Inc. is considering raising as much as P6 million by braving the initial public offering (IPO) waters in July, a source privy to...

Property glut seen to keep prices at bay.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Jennee Grace U. Rubrico Hotel and serviced apartments will continue to enjoy increasing rental rates given strong demand, but too much supply in the residential, industrial, retail and...

Senators rushing more cuts to national budget.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Francis Y. Capistrano The Senate may consider reducing the proposed 2006 budget by more than the P31.11-billion net cut it has already proposed. Sen. Manuel B. Villar, Jr., Senate...

Taiwan assures it will lift ban on Philippine coconut exports.
May 31, 2006... (From BusinessWorld (Philippines)) Philippine fresh coconuts can soon enter the Taiwan market after Taipei assured the Philippines last week that it will lift a ban on the product. The Taipei Economic and Cultural Office [TECO] said...

BUSINESS CASE LAW.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Judge Artemio S. Tipon (Ret.) A probationary employee can be legally terminated either: (1) for a just cause; or (2) when the employee fails to qualify as a regular employee in accordance...

Philippines, India push cooperation.
May 31, 2006... (From BusinessWorld (Philippines)) The Philippines and India are eyeing to triple their bilateral trade in four years, citing prospects of increased cooperation in information technology, pharmaceuticals, manufacturing, agriculture and...

Court paves way for Ultra stampede probe.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Bernardette S. Sto. Domingo The Court of Appeals has given the Department of Justice the go-signal to probe a stampede that occurred outside a large sporting arena in Pasig City in February...

LGUs assured of share in power sales.
May 31, 2006... (From BusinessWorld (Philippines)) The House of Representatives approved Monday night a measure that would require independent power producers (IPPs), generation companies and other energy resource developers to remit the portion of...

Probe set on intelligence officers tied to Erap Five.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Kristine L. Alave and Francis Y. Capistrano Armed Forces of the Philippines (AFP) chief of staff General Generoso S. Senga has directed military prosecutors to investigate the intelligence...

Reforms urged on courts' handling of bad contracts.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Francis Y. Capistrano A legislator is seeking reforms on how the judicial system decides on bad contracts. In a forum organized by BusinessWorld, Action for Economic Reforms and...

St. Andrew's School is now mercury-free, authorities say.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Rommer M. Balaba The Health department yesterday declared St. Andrew's School in Paranaque City was now mercury-free, about four months after it temporarily closed due to a mercury spillage...

Navy on standby to evict overstaying personnel in Boni.
May 31, 2006... (From BusinessWorld (Philippines)) The Philippine Navy has ordered 2,000 troops to be on standby to help dislodge the 115 enlisted personnel overstaying at the Married Enlisted Quarters in Fort Bonifacio on Thursday. Navy Captain...

Classroom shortage debate irks Arroyo.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Judy T. Gulane President Gloria Macapagal- Arroyo and Education Sec. Fe A. Hidalgo could not seem to agree on how many additional classrooms the government needs to accommodate the millions...

RP-based Japanese traders' sentiment worsens in May on dampened demand.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Paolo Joseph L. Lising The Japanese businessmen's sentiment on the Philippines got worse this month from April, according to the latest survey conducted by the Japan External Trade...

ADB aims to double water financing in Asia by 2010.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Beverly T. Natividad The Asian Development Bank (ADB) targets to double its lending for water financing in Asia to $2 billion every year from 2006 to 2010 in order to boost much-needed...

PEZA zone export earnings up 9%.
May 31, 2006... (From BusinessWorld (Philippines)) Export earnings registered at the Philippine Economic Zone Authority (PEZA) increased by 9.032% from January to end-April this year to P10.404 billion from P9.542 billion registered a year ago. This...

Asian utilities positioning for power mart.
May 31, 2006... (From BusinessWorld (Philippines)) Even if the government is moving forward with plans to privatize the country's power assets, local companies are having a hard time competing with "formidable" foreign companies in purchasing such...

Budget department assures VAT refund for Japanese contractors.
May 31, 2006... (From BusinessWorld (Philippines)) The government will pay Japanese contractors the rest of their value- added tax (VAT) refunds in July, as it announced it has already paid 85% of the amount. Budget Secretary Rolando G. Andaya, Jr....

Food establishments ordered closed for wastewater violations.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Beverly T. Natividad Two food establishments in Quezon City were issued closure orders by the Laguna Lake Development Authority (LLDA) following the failure of both firms to maintain...

Trans-Asia Oil readies cash for power bids.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Ruby Anne M. Rubio Oil and mineral exploration firm Trans-Asia Oil and Energy Development Corp. has P700 million in ready cash as it continues to focus on emerging opportunities in the power...

PCGG asked not to be left out in Philcomast unification deal.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Jeffrey O. Valisno Private shareholders of the Philcomsat Group of Companies may have already set aside their differences, but their problems might not be over just yet. The...

Hotel chain earmarks $2M for new spa to open in Oct.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Jennee Grace U. Rubrico Edsa Shangri-La Manila has earmarked $2 million for the construction of a 3,000-square-meter spa which will be opened in October. Edsa Shangri-La Director of...

Attrition rules release puts more pressure on BIR, BoC.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Karl Lester M. Yap Revenue agencies have been put under more pressure to meet collection targets this year as the implementing rules and regulations (IRR) of the Attrition Law were released...

Mobile phone use relatively low in RP.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Iris Cecilia C. Gonzales The Philippines may be the world's texting capital but compared to other Asia-Pacific countries, mobile phone penetration in the country remains relatively low, a...

Fifteen listed firms still to submit '05 reports.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Ruby Anne M. Rubio Fifteen listed companies face trading suspension as they have yet to file their 2005 audited financial statements, the Philippine Stock Exchange (PSE) yesterday said. ...

Retirement sector now a flagship program for Arroyo government.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Judy T. Gulane The retirement industry has been declared a flagship program of the government by President Gloria Macapagal-Arroyo, who pledged state support to make the Philippines a...

Concern hits San Miguel beverage business.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Jennee Grace U. Rubrico and Ruby Anne M. Rubio The Coca-Cola Company is in talks with San Miguel Corp. to discuss ownership of Coca-Cola Bottlers Philippines, Inc. (CCBPI), the publicly...

iBank reports 131.5% income surge.
May 31, 2006... (From BusinessWorld (Philippines)) The International Exchange Bank (iBank) has reported a first quarter income of P403.9 million, 131.5% higher than the P174.5 million in the same period last year. "We have a robust first quarter as...

East Timor peace and order problems should serve as lessons for.
May 31, 2006... (From BusinessWorld (Philippines)) Davao City - The problems in East Timor should serve as lessons for government officials and rebel leaders involved in the Mindanao peace process, the Moro Islamic Liberation Front (MILF) yesterday said....

Kickers Philippines conducts regional sales, marketing meet.
May 31, 2006... (From BusinessWorld (Philippines)) French casual footwear brand Kickers recently hosted its regional sales and marketing conference in the Philippines. The one-day meet drew representatives from Hong Kong, Indonesia, Malaysia,...

PEOPLE.
May 31, 2006... (From BusinessWorld (Philippines)) Hill & Associates appoints new country manager Risk management and business intelligence consultancy firm, Hill & Associates (H&A) has announced the appointment of PAUL INGRAM as country manager for...

CAMPI supports alternative fuels.
May 31, 2006... (From BusinessWorld (Philippines)) The Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) in a statement said it is amenable to the use of alternative fuels since these renewable sources of energy could help lessen the...

SPECIAL FEATURE.
May 31, 2006... (From BusinessWorld (Philippines)) The great equalizer could turn out to be crude oil. It may seem incongruous for a luxury car driver to turn frugal over fuel suddenly, but with crude oil prices exceeding a record $70 per barrel and the...

Airport terminal faces another delay.
May 31, 2006... (From BusinessWorld (Philippines)) Byline: Maricel E. Estavillo The repair of the collapsed ceiling of the Ninoy Aquino International Airport Terminal 3 (NAIA-3) is in for further delay as the machines for the rudimentary laboratory...

Estrada warns Arroyo on arrests.
May 31, 2006... (From BusinessWorld (Philippines)) Former Philippine leader Joseph Estrada issued President Gloria Macapagal-Arroyo with a stark warning yesterday after five of his supporters were detained for allegedly plotting to assassinate...