BusinessWorld (Philippines) articles from May 2009

BusinessWorld (Philippines) archives from May 2009

Bandit leaders' death major blow to kidnap-for-ransom.
May 29, 2009... Byline: Darwin T. Wee ZAMBOANGA CITY - The death of two bandit leaders in Basilan was a "big blow" to the operation of kidnap-for-ransom groups in Mindanao's southwestern areas, a high-ranking military official said yesterday. On...

Ex-military official given time to present evidence of harassment.
May 29, 2009... Byline: Ira P. Pedrasa The Court of Appeals has given Navy Lt. Senior Grade Mary Nancy Gadian enough time to present evidence of harassment by former colleagues in the military since she exposed the alleged fund misuse in the 2007 RP-US...

Program to improve English skills.
May 29, 2009... Byline: Geefe P. Alba MARAWI CITY - The United States Agency for International Development has launched an initiative in Mindanao aimed at enhancing job preparedness among college students. Kristie A. Kenney, US envoy to the Philippines...

Small-scale miners to be given work regulations.
May 29, 2009... Byline: Carmelito Q. Francisco DAVAO CITY - The provincial government of Compostela Valley will require small-scale miners in landslide-prone areas to agree with previously set safety and environmental regulations, particularly prohibiting...

Flu cases rising from Taiwanese contact.
May 29, 2009... Byline: Emilia Narni J. David Four new confirmed cases of influenza A (H1N1) announced yesterday by the Department of Health (DoH) brought to 10 the total number of infections. In a press conference, Health Secretary Francisco T. Duque III...

Poll bidding nearing end-stage.
May 29, 2009... Byline: Emilia Narni J. David The Commission on Elections (Comelec) is left with resolving a single bidder's petition before proceeding with naming a winning supplier, even as the body started testing machines for next year's elections. ...

Ex-Palace official drops case.
May 29, 2009... Byline: Ira P. Pedrasa Former Palace chief-of-staff Michael T. Defensor has dropped the perjury raps filed against National Broadband Network (NBN) mess whistle- blower Rodolfo Noel "Jun" I. Lozada, Jr. due to the judge's alleged bias. ...

Salary standardization law changes get Senate nod.
May 29, 2009... Byline: Bernard U. Allauigan The Senate approved on second and third reading Wednesday evening a Palace-certified measure that seeks to upgrade and rationalize the compensation of government employees, with its implementation set for July 1....

Police to set up choke points in Metro Manila, two regions.
May 29, 2009... Byline: Michael Paolo T. Jamias After announcing the apprehension of a top kidnap-for-ransom suspect yesterday, the Philippine National Police (PNP) revealed plans to set up 15 new so-called choke points in Luzon to boost anti-kidnapping...

De Castro, Teodoro vie in merged party.
May 29, 2009... Byline: Bernard U. Allauigan and Bernardette S. Sto. Domingo Two major administration political parties yesterday combined forces in the run-up to next year's general elections, including the presidency. The Lakas-Christian-Muslim...

School supplies monitoring stepped up.
May 29, 2009... Byline: Sarwell Q. Meniano PALO, LEYTE - The Department of Trade and Industry (DTI) regional office here has stepped up monitoring of prices of school supplies in the six provinces of Eastern Visayas. "Based on our monitoring, the prices...

Ombudsman's help sought on local officials' narcotics cases.
May 29, 2009... The Department of Interior and Local Government is seeking the assistance of the Office of the Ombudsman in its campaign against narcotics by prioritizing cases against local officials. Interior Undersecretary Marius P. Corpus yesterday said...

VECTOR.
May 29, 2009... Byline: Sonny Coloma Business enterprise is an enlightened response to a noble calling, but only if such a business has a positive value to society. Come to think of it. The businesses that have emerged from major scientific discoveries or...

FENCE SITTER.
May 29, 2009... Byline: Antonio R. Samson It is the distressing lot of candidates that they are targets of advisers, mostly unsolicited. These come from all sides, not just supporters, early and recent, but also from the political party, spouses, and their...

STREETWISE.
May 29, 2009... Byline: Carol Pagaduan-Araullo The founding assembly of the Pagbabago! People's Movement for Change became the unintended launching pad for self-declared presidential wannabe, Paquito Yu, Paq for short. Actually, he is the group's satirical...

VANTAGE POINT.
May 29, 2009... Byline: Luis V. Teodoro If he's serious about it, Makati Congressman Teodoro Locsin Jr.'s bill seeking to amend the libel law is something journalists should be able to live with, even if only temporarily. Locsin's proposed amendment to...

TRADE TRIPPER.
May 29, 2009... Byline: Jemy Gatdula Today, Justice Ameurfina A. Melencio Herrera is scheduled to retire as chancellor of the Philippine Judicial Academy (PHILJA), the education arm of the Supreme Court. Of all things, it is an occasion to celebrate the...

RULE OF LAW.
May 29, 2009... Byline: Basilio H. Alo Famous TV host Ellen Degeneres makes no secret of her sexual relationship with another woman, and strongly supports same-sex marriages, which the California (USA) Supreme Court has only recently disallowed by a 6-1...

VAT collections fall below BIR's target.
May 29, 2009... Byline: Alexis Douglas B. Romero VALUE- ADDED TAX (VAT) collections totaled P50.78 billion in the first four months, higher by almost 10% than last year's P46.2 billion but below the target of P57.76 billion, Bureau of Internal Revenue (BIR)...

RP gets $1.01-million grant to improve procurement systems.
May 29, 2009... Byline: Justin S. Gatuslao THE WORLD BANK, Finance Department and an anti-corruption civil society coalition yesterday signed a $1.01-million grant agreement to promote the adoption of transparent and participatory procurement mechanisms and...

Senate urged to approve ICT Department bill.
May 29, 2009... Byline: Jessica Anne D. Hermosa FOREIGN BUSINESS leaders have urged the Senate to pass into law a bill that would create an executive department devoted to managing the country's information and communications technology (ICT). The timely...

Lower prices of drugs unlikely as firms fail to comply with standards.
May 29, 2009... Byline: Emilia Narni J. David THE PHILIPPINES may have a hard time importing and exporting medicines because of the low compliance of pharmaceutical companies in using the documentation standards of the Association of Southeast Asian Nations...

SEC transfer to Trade dep't beneficial to the public - Teves.
May 29, 2009... Byline: Alexis Douglas B. Romero THE TRANSFER of the supervision of the Securities and Exchange Commission (SEC) to the Department of Trade and Industry (DTI) from the Department of Finance (DoF) will enhance the delivery of public service...

Davao RDC endorses P18 billion worth of projects.
May 29, 2009... Byline: Joel B. Escovilla DAVAO CITY - The Regional Development Council (RDC) has endorsed to the national government roughly P18 billion worth of projects for implementation in the Davao Region in 2010. More than P11 billion of the...

Second one-stop customs shop to rise in Sarangani.
May 29, 2009... Byline: Romer S. Sarmiento GENERAL SANTOS CITY - To further ease trade barriers and movement of people within the Brunei- Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP-EAGA), the government will put into motion a one-stop action...

CLARIFICATION.
May 29, 2009... The column of Rhea M. Regala on "Delegation of BIR Authority to Sign Rulings" which came out in BusinessWorld yesterday erroneously included paragraphs 10-19.

Metro Pacific owners open to dilution.
May 29, 2009... Byline: Kristine Jane R. Liu Pangilinan-led Metro Pacific Investments Corp. (MPIC) plans to sell more shares to investors to make the company "more public" and at the same time raise additional cash. The listed holding firm is studying...

Korean firms set to invest $475M on biofuel plants.
May 29, 2009... Byline: Neil Jerome C. Morales Two local firms will sign an agreement with South Korean companies to put up two biofuel plants costing a combined $475 million on Sunday during a state visit to Seoul by President Gloria M. Arroyo, an...

Aboitiz Transport to acquire ship, firm.
May 29, 2009... Aboitiz Transport Systems Corp. is spending P1.4 billion to P2.4 billion this year to buy a ship and possibly another company. Aboitiz Transport President and CEO Enrique M. Aboitiz said his company would allot at least P1.4 billion for the...

Alcantara group hikes profits by 12% in Q1, but growth below target.
May 29, 2009... Byline: Jose Bimbo F. Santos Despite a 12% increase in first-quarter profits, Alcantara-led Alsons Consolidated Resources does not see significant growth for the year as the global financial crisis drags down the electricity consumption of...

Sumitomo-led nickel venture to invest $3B.
May 29, 2009... Byline: Neil Jerome C. Morales Japan's Sumitomo Metal Mining Co. Ltd. and local holding firm Nickel Asia Corp. will put up a $3-billion nickel ore processing plant in northeastern Mindanao next year. The joint venture partners will operate...

Clark free port in negotiations with foreign buyer for Mimosa.
May 29, 2009... Byline: Jessica Anne D. Hermosa A foreign firm has submitted an unsolicited bid for the state-owned Mimosa Leisure Estate at the Clark free port and is in negotiations with the government, a Clark Development Corp. (CDC) official said late...

Philweb sees profits doubling with e-cafes.
May 29, 2009... Byline: Jeremiah F. de Guzman Listed Philweb Corp. expects core profits for 2009 to nearly double, citing significant growth in its gaming business. At the company's annual stockholders' meeting yesterday, PhilWeb President Dennis O....

Sagittarius Mines, Tampakan town reach deal.
May 29, 2009... Byline: Romer S. Sarmiento GENERAL SANTOS - Foreign-backed Sagittarius Mines, Inc. has reached a four-year deal with the local government of Tampakan, South Cotabato, effectively ending a ban imposed by town officials on the miner's...

Mass housing developer given fiscal incentives.
May 29, 2009... Two real estate developers will get tax perks for separate mass housing projects worth a total of P338.7 million, the Board of Investments said in a statement yesterday. Citihomes Builder & Development, Inc. will be spending P134.7...

Crop insurance widens.
May 29, 2009... PROFITS of state-run Philippine Crop Insurance Corp. (PCIC) jumped to P32.308 million in the first quarter on the back of wider crop insurance coverage, the head of the agency said. "[Net income increased] because we started to be more...

Grid project completed.
May 29, 2009... Global electrical engineering conglomerate Siemens said it has completed a 230-kilovolt substation in Concepcion, Tarlac owned by the National Grid Corporation of the Philippines (NGCP). The project is part of NGCP's North Luzon Upgrade Project...

Davao BPO to add seats.
May 29, 2009... DAVAO CITY - A business process outsourcing (BPO) company operating here will expand its pool of agents by at least 44 before the end of the year to cope with demand. Justin W. Cooke, founder of Try BPO which provides consultancy services to...

Resort hikes capital.
May 29, 2009... A Palawan resort has hiked its capital to accommodate additional investments for an expansion project. In exchange for new shares of stock, the Emerald Playa, Inc. received an infusion from four investors worth P20.67 million, which the company...

UPS maker expanding.
May 29, 2009... A London-based power security solutions provider is expanding its presence in the Philippines, aiming to capture a quarter of the country's uninterruptible power supply (UPS) market estimated to be worth $60 million. Chloride Group PLC President...

BRIEFS.
May 29, 2009... BDO dividends Banco de Oro Unibank, Inc.(BDO) has declared cash dividends of P0.28 per common share. This would sum up to about P644 million, the bank having 2.3 billion outstanding shares listed on the local bourse. About 36% of the...

Peso slides further to P47.46.
May 29, 2009... Byline: Gerard S. dela Pena The peso went through a volatile trade yesterday, as it fell on dismal economic growth data then rose on improving sentiment across the region. The local currency closed at P47.46 to a dollar, nine centavos...

House Ratifies Bill Scrapping DST on Stock Transactions
May 29, 2009... Byline: Jhoanna Frances S. Valdez The House of Representatives ratified Tuesday night a bill scrapping the documentary stamp tax (DST) on stock market transactions, with the Senate promising to follow suit next week. House Bill (HB) 4900...

First quarter growth disappoints investors.
May 29, 2009... Byline: AFP with Kristine Jane R. Liu Share prices closed 0.08% lower yesterday, weighed down by a disappointing economic growth figure and the downturn on Wall Street, dealers said. The composite index fell by 2.01 points to 2,354.37...

Tolentino stuns Souquet.
May 29, 2009... Byline: Marlon Bernardino Mario Tolentino and Demosthenes Pulpul trounced their second-round foes to boost their bids in the inaugural Philippine Open (Ten Ball) Pool Championship being held at the SM Megamall (Megatrade Hall 2) in...

COURTSIDE.
May 29, 2009... Byline: Anthony L. Cuaycong "I'm spending a little bit more time out there than I want to," Maria Sharapova noted in the aftermath of her second straight three-setter at the 2009 French Open ladies' singles championship. Considering that it...

GIVE AND GO.
May 29, 2009... Byline: Michael Angelo S. Murillo The Philippine Basketball Association Fiesta Conference had its first "casualties" last Wednesday when the Barako Bull Energy Boosters and Alaska Aces became the first teams to get eliminated in the...

CHESS PIECE.
May 29, 2009... Byline: Bobby Ang 8th Asian Continental Individual Championship Subic Bay Freeport, Philippines May 13-23, 2009 Final Top Standings 1-2. GM Surya Shekhar Ganguly IND 2625, GM Zhou Weiqi CHN 2563, 8.0/11 3-8. Yu Yangyi CHN 2433,...

IN THE WORKPLACE.
May 29, 2009... Byline: Reylito A.H. Elbo Our newly installed CEO appears to have a different style of management. Not content with being a hands-on executive, he likes to talk directly to our workers (five people in a group for more than one hour everyday)...

TAKE TEN.
May 29, 2009... Byline: Behn Cervantes The Philippines has long been gaga over becoming a tourist destination of distinction. It has aspired to be so with reason because indeed our country has oodles of natural attractions, be they beaches, caves, mountains...

WEEKENDER.
May 29, 2009... Byline: Johanna D. Poblete Most people regard stylists as a fairy-godmother-for-hire that would turn them into a cosmopolitan Cinderella or a debonair prince. For a public figure, the stylist is someone who could literally help keep up...

WEEKENDER: going out.
May 29, 2009... Byline: Sam L. Marcelo THEATER Rizal Is My President, A Musical Satire Presented by Harlequin Theatre Guild * May 30 and 31, 7 p.m. St. Cecilia's Hall, St. Scholastica's College, Leon Guinto St., Malate, Manila * June 11 and 13, De La...

WEEKENDER: going out.
May 29, 2009... Araneta Center in Cubao, Quezon City, once again fetes the month of flowers with a grand Santacruzan on May 30. This year's Santacruzan will feature the best of Philippine fiestas in a whole day celebration culminating in a street party. The...

WEEKENDER: movies.
May 29, 2009... Byline: Noel Vera MOVIE REVIEW Terminator Salvation Directed by McG When I learned there was to be a fourth Terminator installment, first question I asked was "why?" When I learned there was to be a fourth Terminator directed by the...

WEEKENDER: movies.
May 29, 2009... Byline: Mira B. Gloria MOVIE REVIEW Agaton & Mindy Directed by Peque Gallaga In order to understand how romance operates among young adults today, try watching Hillary Duff's Cinderella Story or Disney's High School Musical 3:...

WEEKENDER: staying in.
May 29, 2009... Byline: Sam L. Marcelo CDREVIEW Sweetheart Snackbar Duster When the ladies decide to ditch the men and do something on their own, it will always be construed as a statement of some kind. That's a burden newly formed all-girl...

WEEKENDER: environment.
May 29, 2009... Byline: Marites S. Villamor Renewable energy resources, so-called because they are naturally replenished, are without doubt clean and green. Using these to produce power also minimizes dependence on imported and polluting fuels. But...

WEEKENDER: health.
May 29, 2009... Byline: Rosanna Mae A. Labitag Educators recently convened in order to address concerns on improving the quality of life of children with developmental disabilities in the country. The two-day national conference on special children with...

WEEKENDER: health.
May 29, 2009... Byline: Rosanna Mae A. Labitag Despite the developments in medicine today, hundreds of people still die from cholera, dengue, diarrhea, malaria and hepatitis, among others. These deaths could have been prevented by taking a few...

WEEKENDER: health.
May 29, 2009... Probiotics for health Fiberhealth is a powerful natural combination of fiber-laxative- probiotics to assist our body's cleansing needs. It helps to remove toxins (detoxification), alleviate constipation and encourage regular movements....

WEEKENDER: marketing.
May 29, 2009... Byline: Raoul J. Chee Kee "How may I help you?" is something you're likely to hear at most retail establishments. At a store in an Ortigas mall selling items imported from Japan, however, you just might overhear its general manager ask one of...

WEEKENDER: marketing.
May 29, 2009... Byline: Nanette Franco-Diyco Sunday's broadsheets carried interesting teaser ads that began with "Ang tunay na leader malalapitan" (A true leader is approachable). There was also a photo of someone you could believe was a politician happily...

WEEKENDER: marketing.
May 29, 2009... Byline: Terence A. Hockenhull Selling is all about uncovering problems of your prospective customer. Rarely is a corporate purchase made unless existing equipment fails to perform to the required standard, or the absence of a product or...

WEEKENDER: travel.
May 29, 2009... Byline: Vicky S. Mendoza The Viaje del Sol map that lists a number of sights south of Manila keeps getting better every year. More and more places are meeting the standard of what is considered a "soulful destination." Our first stop one...

WEEKENDER: travel.
May 29, 2009... Byline: Rosanna Mae A. Labitag In an effort to bring back the tourism potential of Metro Manila, the Department of Tourism (DoT) recently partnered with domestic tour operators and ABS-CBN Foundation's "Kapit Bisig sa Ilog Pasig." Their...

Leading economic indicator turns negative.
May 29, 2009... The composite leading economic indicator (LEI) has fallen into negative territory, the National Statistical Coordination Board yesterday said, bolstering beliefs of a deteriorating Philippine economy. The index - which tracks the performance...

Banco de Oro expands further via GE Money Bank purchase.
May 29, 2009... Byline: Gerard S. dela Pena Sy-led Banco de Oro Unibank, Inc. is looking to expand even further with the purchase of GE Money Bank. In a disclosure to the Philippine Stock Exchange, the bank said it had inked a definitive agreement with GE...

Oil firms, other industries get to stay in Manila.
May 29, 2009... Byline: Louella D. Desiderio A zoning proposal that would ensure the continued operations of all medium and heavy industries in the city of Manila, including oil firms at the Pandacan oil depot, was signed into law yesterday by Mayor Alfredo...

BoI issues rules easing tax perk requirements.
May 29, 2009... Byline: Jessica Anne D. Hermosa The Board of Investments has officially relaxed conditions for firms granted tax perks, saying the economic crisis had made compliance more difficult. Troubled exporters can retain their income tax holidays...

SPECIAL FEATURE: Diesel Power Drives.
May 29, 2009... Byline: Hannah M. Muralla Filipino motorists like their rides smooth and spirited. This perhaps explains the driving populace' preference for gas-powered automobiles, which are known for their effortless throttling power. Meanwhile, the less...

SPECIAL FEATURE: Diesel Power Drives.
May 29, 2009... Byline: Anton Javier B. Dizon In the past, discussions about high-end automobiles were most likely to exclude any mention of a diesel engine. But thanks to tech developments that resulted in slick and steely diesels, the long-snubbed engine...

SPECIAL FEATURE: Diesel Power Drives.
May 29, 2009... Byline: Agape Grace E. Miguel For some people, popping the car's hood is like opening a portal to outer space. Because the automobile might be one of man's most familiar transport machines, but the jumble of sparkplugs, valves, cylinders,...

SPECIAL FEATURE: Culinary Schools.
May 29, 2009... Byline: Bernice Marie V. Berida A chef is nothing without his own signature dish, but more than expensive knives and tightly sealed recipes, what these kitchen gurus have in common is a set of survival skills that helped carry them to the top...

SPECIAL FEATURE: Culinary Schools.
May 29, 2009... Byline: Hannah M. Muralla Some say that the secret behind savory Chinese dishes is the wok - a large and round-bottomed pan typically used in East Asian cuisine - which should not washed with soap or scrubbed with abrasives. Prolonged use, it...

SPECIAL FEATURE: Culinary Schools.
May 29, 2009... Today's most popular celebrity chefs share more than the passion, skill and innate talent to back up their status in the culinary industry. Tristan Encarnacion and Rosebud Benitez, both practicing chefs and graduates of one of the country's top...

SPECIAL FEATURE: Powerful Women in Business.
May 29, 2009... Byline: Anton Javier B. Dizon Throughout human history, women, to paraphrase Chinese revolutionary Mao Zedong, have held up half the sky. Each civilization has its influential female figure, from ancient Egypt's Cleopatra, Spain's Isabella,...

SPECIAL FEATURE: Powerful Women in Business.
May 29, 2009... Byline: Hannah M. Muralla In 1985, inspired by American industrialist and philanthropist John Rockefeller, professor Nelia Cruz Sarcol set out to blaze her own trail in Cebu City by building an international school that would make competent...

SPECIAL FEATURE: Powerful Women in Business.
May 29, 2009... Byline: Agape Grace E. Miguel Mall tycoon Henry Sy may have found his female counterpart in her daughter, Tessie Coson-Sy. The current vice-chairman of SM Investments is the only Filipina to have again made it to Fortune Magazine's list of...

SPECIAL FEATURE: Powerful Women in Business.
May 29, 2009... Information technology (IT), a world of gizmos and web tactics, remains largely identified with the gadget-loving males, but Cynthia Mamon, president and managing director of Sun Microsystems Phils., Inc. (SunPhil), proves that women can do...

SPECIAL FEATURE: Powerful Women in Business.
May 29, 2009... It has been six months since Claire Ann Yap became president of Metrobank Card Corporation, but the credit card company's new chief has lost no time devising her own professional gameplan, which she says will focus on business and product...

SPECIAL FEATURE: Quarterly Trust Industry.
May 29, 2009... Byline: Anton Javier Dizon Fluctuations in the local trust industry prevailed for much of 2008, but the sector still managed to end on a high note, with assets reaching P1.3 trillion by yearend a decent growth from the previous year's P1.15-...

SPECIAL FEATURE: Quarterly Trust Industry.
May 29, 2009... Byline: Anton Javier Dizon There wasn't much that the country's financial sector could do last year but sway with the credit crunch on Wall Street. So far, however, local trust institutions have stood their ground, registering positive growth...

GlaxoSmithKline promotes vaccination among adults.
May 29, 2009... GlaxoSmithKline Philippines (GSK) recently launched Club VIP, a comprehensive health and wellness advocacy that seeks to promote health and wellness through adult vaccination. Club VIP, which stands for Vaccinate, Immunize and Protect,...

Havaianas creates 'original' Web site.
May 29, 2009... They were the first to combine the simplicity of the Japanese Zori with the laid-back ease of a tropical aesthetic; the first to frontline innovation for comfort and durability; and the catalyst that elevated flip- flops to become the...