BusinessWorld (Philippines) articles from November 2005, page 5

BusinessWorld (Philippines) archives from November 2005

Lower exports.
November 24, 2005... (From BusinessWorld (Philippines)) Foreign exchange earnings from merchandise exports are likely to decline towards yearend due to the continued strengthening of the peso against the dollar, United States-based think tank Institute for...

Sulu business.
November 24, 2005... (From BusinessWorld (Philippines)) Zamboanga City - Notwithstanding unstable peace and order in certain areas of Sulu, local business leaders are confident economic activities would go back to normal in the next few days. After all,...

Aussie security monitoring firm to offer do-it-yourself spy tools.
November 24, 2005... (From BusinessWorld (Philippines)) Byline: Maricel E. Estavillo Australia-based security monitoring specialist Swann Global will make available "do-it-yourself" spy tools in the retail shelves of 2,000 hardware and equipment stores...

TAXWISE OR OTHERWISE.
November 24, 2005... (From BusinessWorld (Philippines)) Byline: Roselle K. Yu Firms that keep abreast of their tax obligations are undoubtedly aware of the 70% cap on input tax credits under the new value-added tax (VAT) reform rules. However, not all...

Profit taking, political fears dampen stocks.
November 24, 2005... (From BusinessWorld (Philippines)) Byline: Ruby Anne M. Rubio Stocks retreated yesterday from a three-day rally as investors cashed in their gains after a sharp rise. Some cited political jitters as the reason for taking in...

BYSTANDER.
November 24, 2005... (From BusinessWorld (Philippines)) Byline: Dean O. de la Paz Few publications these days are at once as relevant and as instructive as Alex Lacson's 12 Little Things Every Filipino Can do to Help our Country (Alay Pinoy Publishing,...

UPSHOT.
November 24, 2005... (From BusinessWorld (Philippines)) Byline: Bernardo V. Lopez An avalanche of unexpressed complaints against Globe and Smart followed this column's previous article "Of cellphone journalism and scams." It seems there are many from...

THE VIEW FROM TAFT.
November 24, 2005... (From BusinessWorld (Philippines)) Byline: Rene F. Concepcion There will come a time when science fiction fare, such as commercial space travel and biosynthetic androids, will become part of everyday life. Each generation will also...

EQUAL QUEST.
November 24, 2005... (From BusinessWorld (Philippines)) Byline: Wilhelmina S. Orozco Any person who comes into the country now would be shocked at the kinds of news going about: a one-ton bomb to rip through Metro Manila; a citizens' arrest of the...

Gov't spends less in third quarter.
November 24, 2005... (From BusinessWorld (Philippines)) Byline: Felipe F. Salvosa II and Karl Lester M. Yap Lower expenses of the central government and state firms and more cash from public financial institutions and local governments brought down the...

October PEZA investment approvals up by almost 29%.
November 24, 2005... (From BusinessWorld (Philippines)) Byline: Jennifer A. Ng The Philippine Economic Zone Authority (PEZA) has approved investment commitments of P6.635 billion last month, or almost 29% higher year-on- year. Lilia de Lima, PEZA...

Fitch Ratings team sets visit to assess credit upgrade.
November 24, 2005... (From BusinessWorld (Philippines)) Byline: Norman P. Aquino London-based Fitch Ratings will first assess the impact of an increase in the value-added tax (VAT) on revenues before it can upgrade the country's credit ratings. "We...

China firm Nanshan keen on mining bauxite in Samar.
November 24, 2005... (From BusinessWorld (Philippines)) Byline: Jennifer A. Ng A Chinese firm has expressed keen interest in mining bauxite in Samar Island, believed to have reserves worth up to $25 billion. Nanshan Light Alloy Co. Ltd. based in...

Port regulator okays ATI plan.
November 24, 2005... (From BusinessWorld (Philippines)) Asian Terminals, Inc. (ATI) yesterday said the Philippine Ports Authority (PPA) has approved its revised master plan to develop facilities of the South Harbor piers in Manila. ATI however denied...

Boiler-room mastermind in court for arraignment.
November 24, 2005... (From BusinessWorld (Philippines)) Byline: Roulee Jane F. Calayag Three years after evading authorities hunting him down, alleged boiler-room mastermind, Amador Apungan Pastrana, yesterday appeared in court for a long-awaited...

Smart fixes house after key executives' exit.
November 24, 2005... (From BusinessWorld (Philippines)) Byline: Kerlyn G. Bautista Smart Communications, Inc., the mobile unit of Philippine Long Distance Telephone Co. (PLDT), said it will start a healing process next week after the company was rocked...

Starwood Hotels scouting for hotel opportunities.
November 24, 2005... (From BusinessWorld (Philippines)) Byline: Jennee Grace U. Rubrico The Starwood Hotels & Resorts Worldwide, outgoing operator of the Westin Philippine Plaza Hotel, is looking for other hotel management contracts as it prepares for...

Pancake House says no deal yet with Goldilocks.
November 24, 2005... (From BusinessWorld (Philippines)) Pancake House, Inc. yesterday said it had not reached any agreement with Goldilocks Bakeshop, Inc. for the possible acquisition of the bakeshop chain. In a disclosure, Pancake House confirmed it had...

Chemrez in talks to supply biodiesel in 4 Europe states.
November 24, 2005... (From BusinessWorld (Philippines)) Byline: Beverly T. Natividad Local biodiesel producer Chemrez, Inc. is in talks to supply coconut oil-blended biodiesel in four European countries as part of its expansion. Operations manager...

NTC walks a tightrope on internet telephony.
November 24, 2005... (From BusinessWorld (Philippines)) Byline: Kerlyn G. Bautista In a bid to block fly-by-night providers - but at the risk of preventing some bona fide applicants - the National Telecommunications Commission (NTC) is set to raise the...

Ortigas inks P1-B land deal with church group.
November 24, 2005... (From BusinessWorld (Philippines)) Byline: Roulee Jane F. Calayag Ortigas & Company Limited Partnership yesterday signed a deal with Christ's Commission Fellowship for the sale of its 10,000-square meter lot in Ortigas Center for...

Pangilinan says First Pacific sticking with price offer for Del Monte.
November 24, 2005... (From BusinessWorld (Philippines)) Byline: Kerlyn G. Bautista First Pacific Co. Ltd. is sticking to its offer for Singapore's Del Monte Pacific Ltd. amid reports the Lorenzo clan is scouting around for partners to fight the Hong...

URC targets $72 million from new shares offer.
November 24, 2005... (From BusinessWorld (Philippines)) Byline: Ruby Anne M. Rubio Universal Robina Corp. (URC), one of the largest food companies in the Philippines, hopes to raise $72 million as it offers up to 365 million unissued common shares to...

Key rates seen to drop further.
November 24, 2005... (From BusinessWorld (Philippines)) Byline: Felipe F. Salvosa II Key interest rates could go down even further next year as markets react to improving government finances, National Treasurer Omar T. Cruz said yesterday. He also...

FOCUS.
November 24, 2005... (From BusinessWorld (Philippines)) Byline: Jeffrey O. Valisno (Last of three parts) The increasing flow of overseas workers' remittances did not go unnoticed to multilateral lending institutions like the World Bank and the Asian...

Mutual funds boost Sun Life's managed assets.
November 24, 2005... (From BusinessWorld (Philippines)) Byline: Karl Lester M. Yap Sun Life Financial-Philippines yesterday reported that the size of its managed assets has grown 25% in 10 months to October due to improved investor acceptance of mutual...

BDO Private Bank's assets to nearly double.
November 24, 2005... (From BusinessWorld (Philippines)) Byline: Iris Cecilia C. Gonzalaes BDO Private Bank, a member of the Henry Sy-owned Banco de Oro Group of Companies, expects to nearly double the amount of funds under its management this year from...

Taiwanese technology fair opens today.
November 24, 2005... (From BusinessWorld (Philippines)) The 13th Taiwan Products and Technology Fair opens today with a ribbon-cutting ceremony to kick off the four-day event. Organized by the Taiwan Association, Inc., Ministry of Foreign Affairs (MoFA),...

Holcim Galing Mason Award nominations now accepted.
November 24, 2005... (From BusinessWorld (Philippines)) The search is on for this year's Holcim Galing Mason awardee, a unique project sponsored by Holcim Philippines to recognize and pay tribute to the exemplary workers in the construction industry. The...

Metrobank sets cash dividends.
November 24, 2005... (From BusinessWorld (Philippines)) Metropolitan Bank and Trust Co. will issue P653 million worth of cash dividends or P0.40 per share to its stockholders. In a letter to the stock exchange, the bank said its board of directors will...

PEOPLE.
November 24, 2005... (From BusinessWorld (Philippines)) Mapua names dean of new business school The Mapua Institute of Technology recently appointed Dr. Emmanuel T. Velasco as the Dean of the School of Business and Management, which opened this year with...

DBP studies raising P10-billion Tier 2 capital.
November 24, 2005... (From BusinessWorld (Philippines)) Byline: Ma. Elisa P. Osorio The Development Bank of the Philippines (DBP) is looking at offering P10 billion worth of debt notes that qualify as Tier 2 capital, the president of the state-run bank...

Globe, iGen-Portal merge for iG-Cash.
November 24, 2005... (From BusinessWorld (Philippines)) Globe Telecom has tied up with direct sales marketing company iGen- Portal International Corp. (IPIC) for the latter's commission disbursement system to the G-Cash mobile commerce solutions. This...

BRIEFS.
November 24, 2005... (From BusinessWorld (Philippines)) PICPA convention Colegio de San Juan de Letran in Intramuros, Manila, in coordination with the Philippine Institute of Public Accountants (PICPA), is currently holding the 2005 Annual Convention of...

Pioneering the ostrich industry in Cagayan de Oro.
November 24, 2005... (From BusinessWorld (Philippines)) Byline: Ellen P. Red Opol, Misamis Oriental - Restaurants in Cagayan de Oro City have a new treat for customers - ostrich meat. And demand, restaurant owners, said has been growing in the last few...

Banking on bottled calamansi business.
November 24, 2005... (From BusinessWorld (Philippines)) Byline: Darwin T. Wee Zamboanga City - We have squeezed our own juice at home, whether it be lemon or orange from the backyard or fruit bought from the store. But there's a wide range of juices...

CONSUMER GUIDE.
November 24, 2005... (From BusinessWorld (Philippines)) Synergy advanced face cream Synergy Worldwide introduces the Gen III technology incorporated in the product Advanced Face Cream, which diminishes visible signs of aging and gives skin its optimum...

COURTSIDE.
November 24, 2005... (From BusinessWorld (Philippines)) Byline: Anthony L. Cuaycong By no stretch of the imagination is Ruben Patterson a franchise player. Through seven years' worth of toiling for three different teams, he has never averaged more than...

Cartoon Christmas.
November 24, 2005... (From BusinessWorld (Philippines)) Animated Christmas displays will brighten up the Robinsons Malls this Yuletide season with canopies decked out in spectacular displays and atriums adorned with brightly lit hangings. In addition, three...

RESTAURANT ROW.
November 24, 2005... (From BusinessWorld (Philippines)) Hyatt Regency Manila From November 14 to 25, guests can try the nightly "All-American Thanksgiving Buffet Dinner" for P950++ at Cafe Al Fresco. The mix will include New England clam chowder,...

Seasonal brews.
November 24, 2005... (From BusinessWorld (Philippines)) At Starbucks, the switch to its red logo cups signals the start of the holiday season. This year, coffee drinkers can sample several limited edition beverages including the Cr me Brulee Latte which...

Fruit tips from Davao.
November 24, 2005... (From BusinessWorld (Philippines)) Byline: Hernani de Leon Davao City - From experience, two of three friends visiting Davao would call me on their last day of stay asking for "fruit tips" - what and where to buy, how much, and...

Books + food come together.
November 24, 2005... (From BusinessWorld (Philippines)) Byline: Raoul J. Chee Kee Even if she had just turned 40, Patricia Ann "Triccie" Cantero was already looking forward to early retirement two years ago. Instead of waiting 20 more years so she could...

Metro Manila air quality improvement noted.
November 23, 2005... (From BusinessWorld (Philippines)) Air quality in Metro Manila has been improving in the last three years largely due to the effective enforcement of anti-pollution laws, the Environment department reported yesterday. However,...

Private sector mulls bird flu emergency fund.
November 23, 2005... (From BusinessWorld (Philippines)) Byline: Iris Cecilia C. Gonzales and Beverly T. Natividad Poultry producers are considering raising an emergency fund to finance bird flu prevention and control projects, said canned meat and...

Group bats for amendment of road safety law.
November 23, 2005... (From BusinessWorld (Philippines)) Byline: Jennifer A. Ng The Automobile Association of the Philippines (AAP) is pushing for the amendment of the law that governs road safety in the country. AAP Executive Director Reggie U....

Subic rape case preliminary hearing today.
November 23, 2005... (From BusinessWorld (Philippines)) Byline: Ma. Eloisa I. Calderon Justice Secretary Raul M. Gonzalez has warned that the failure of the alleged rape victim to appear in today's scheduled preliminary investigation in Olongapo could be...

Gov't, Reds express willingness to talk as NPA continues attacks.
November 23, 2005... (From BusinessWorld (Philippines)) Byline: Judy T. Gulane, Kristine L. Alave and AFP The government and communist rebels yesterday professed interest to resume peace talks even as they accused each other of insincerity that had led...

Non-working day on Nov. 28.
November 23, 2005... (From BusinessWorld (Philippines)) Labor Secretary Patricia A. Sto. Tomas said Monday, Nov. 28, is a non- working day in lieu of Wednesday, November 30, 2005 (Bonifacio Day), which is a working day nationwide by virtue of Presidential...

Nationwide housing program.
November 23, 2005... (From BusinessWorld (Philippines)) House Speaker Jose C. de Venecia, Jr. and Vice-President Noli L. de Castro, concurrent head of the Housing and Urban Development Coordinating Council, together with local government officials,...

Media members' killings.
November 23, 2005... (From BusinessWorld (Philippines)) Despite the absence of convictions against suspected killers of journalists this year, the Chief of the Philippine National Police (PNP) declared that it has solved seven of the nine murder cases. "Of...

Garcillano back in the Philippines?
November 23, 2005... (From BusinessWorld (Philippines)) Byline: Francis Y. Capistrano Former election commissioner Virgilio O. Garcillano has been back in the Philippines since last week, his wife Grace told the ABS-CBN News Channel yesterday. Mr....

Questionable military budget.
November 23, 2005... (From BusinessWorld (Philippines)) The military should not be handling the P3 billion in infrastructure projects under the Kalayaan Baranggay program, senators said. During the Senate committee of the whole hearing on the proposed 2006...

Ignorance placing country at risk for AIDS epidemic.
November 23, 2005... (From BusinessWorld (Philippines)) Byline: Jeffrey O. Valisno and Bernardette S. Sto. Domingo Ignorance about the Human Immunodeficiency Virus (HIV), unsafe sex, and drug abuse is putting the Philippines at a risk for a possible...

Asian Terminals' bid to extend South Harbor contract junked.
November 23, 2005... (From BusinessWorld (Philippines)) Byline: Kerlyn G. Bautista Ports and logistics operator Asian Terminals, Inc. (ATI) has failed to secure the approval of the Philippine Ports Authority (PPA) to extend its present contract to...

Body studying Luisita case given 15 days for review.
November 23, 2005... (From BusinessWorld (Philippines)) Byline: Beverly T. Natividad The body reviewing the stock distribution deal covering the Cojuangco- owned Hacienda Luisita, Inc. in Tarlac has been given another 15 days to study the case. ...

Liquigaz to supply autogas to 4 taxicab operators.
November 23, 2005... (From BusinessWorld (Philippines)) Byline: Jennee Grace U. Rubrico Dutch firm Liquigaz Philippines Corp. has signed deals with four taxicab companies to supply autogas to a total of 1,000 vehicles. President Patrick G. Libihoul...

Jardine Davies to sell interests in subsidiaries.
November 23, 2005... (From BusinessWorld (Philippines)) Jardine Davies, Inc., one of the oldest and most diversified companies in the Philippines, will sell its entire shareholdings in wholly owned units Jardine Distribution, Inc. and Jardine Davies...

Shares sustain rise; profit taking expected.
November 23, 2005... (From BusinessWorld (Philippines)) Byline: Ruby Anne M. Rubio Shares advanced for the third straight day and hit a new eight-month high as investors continued to buy select issues allowing the market to sustain its reversal of last...

Wiretap investigation.
November 23, 2005... (From BusinessWorld (Philippines)) An Armed Forces of the Philippines report on its four senior military officials allegedly involved in poll fraud will finally be released mid- December, more than five months after the probe was...

Food exporters hard-pressed to comply with FDA rule.
November 23, 2005... (From BusinessWorld (Philippines)) Byline: Marites S. Villamor Cebu City - Exporters of conventional food and dietary supplements to the US have until January 1 next year to comply with a new US Food and Drug Administration (FDA)...

Another wind farm in Negros.
November 23, 2005... (From BusinessWorld (Philippines)) Byline: Robert Leonoras Bacolod City - Even before Smith Bell Wind Technologies, Inc. could complete its feasibility study on a proposed wind farm in San Carlos City, it also signed a memorandum of...

China firm eyes Malampaya's oil segment.
November 23, 2005... (From BusinessWorld (Philippines)) Byline: Ira May Joyce P. Pedrasa China National Offshore Oil Corp. (CNOOC) is interested in operating the oil component of the Malampaya project. CNOOC Limited vice president and general manager...

Banco de Oro property unit inks joint ventures with 3 developers.
November 23, 2005... (From BusinessWorld (Philippines)) Byline: Jennee Grace U. Rubrico BDO Realty Corp., a unit of Sy-controlled Banco de Oro Universal Bank, has entered into joint ventures with three property developers to develop 200 hectares of raw...

GMO rice.
November 23, 2005... (From BusinessWorld (Philippines)) The Philippines will be able to produce by 2010 a commercially viable variety of genetically modified rice. Philippine Rice Research Institute (PhilRice) director Leo S. Sebastian said local technology...

Sultan Kudarat's coal.
November 23, 2005... (From BusinessWorld (Philippines)) Sultan Kudarat and other Mindanao provinces should be able to enjoy reliable power supply once a coal mine in Palimbang town, Sultan Kudarat and a coal-fired power plant starts operations, President...

Violence against women workers.
November 23, 2005... (From BusinessWorld (Philippines)) The United Nations has adopted a Philippines-led resolution calling for global action against violence against women migrant workers. Foreign Affairs Secretary Alberto G. Romulo said the third committee...

Workers' plight.
November 23, 2005... (From BusinessWorld (Philippines)) The government should consider exempting workers earning less than P275 per day, or P89,000 per annum, from paying income tax and to reduce taxes on socially sensitive products like liquified petroleum...

BYSTANDER.
November 23, 2005... (From BusinessWorld (Philippines)) Byline: Dean O. de la Paz Responding to serious concerns that privatization forfeits technological, pricing and environmental advantages inherent in PNOC-EDC's geothermal assets, its management has...

FAST FORWARD.
November 23, 2005... (From BusinessWorld (Philippines)) Byline: Argee Guevarra As GMA mocks our fundamental sense of right and wrong, and of good and evil, her emotive pleas for national unity and for an immediate cessation of criticisms and ouster plots...

Rubber industry development pushed in Central Mindanao.
November 23, 2005... (From BusinessWorld (Philippines)) Byline: Romer S. Sarmiento General Santos City - Efforts to push development of the rubber industry have gained ground in North Cotabato, a province positioning itself to be the leading rubber...

'Hot money' inflows surge in mid-November.
November 23, 2005... (From BusinessWorld (Philippines)) Byline: Karen L. Lema Foreign portfolio investments surged in the second week of November, buoyed by renewed investor confidence as well as the government's stronger fiscal and economic position....

Senate bill proposes incentives for tourism investments.
November 23, 2005... (From BusinessWorld (Philippines)) Byline: Francis Y. Capistrano In order to encourage private sector investments into tourism, a Senate body's proposed legislation seeks to provide fiscal and non-fiscal incentives to tourism...

Seven troubled Zamboanga canning firms close shop.
November 23, 2005... (From BusinessWorld (Philippines)) Byline: Darwin T. Wee Zamboanga City - Seven out of the nine canneries in dire straits here have already ceased operating, as fishing operators said they can no longer sustain rising operating costs...

Busuanga airport project seeks Korea grant.
November 23, 2005... (From BusinessWorld (Philippines)) Byline: Kerlyn G. Bautista The Transportation department has applied for a $2.98-million grant with the Korea International Cooperation Agency to develop the airport in Busuanga, north of Palawan....

Napocor bonds yield 9.875%.
November 23, 2005... (From BusinessWorld (Philippines)) Byline: Karl Lester M. Yap Investors yesterday snapped up P11 billion worth of National Power Corp. (Napocor) zero-coupon bonds, ensuring that the state-run power firm meets all its cash obligations...

Peso jumps by 31.5 centavos to P54.425.
November 23, 2005... (From BusinessWorld (Philippines)) Byline: Karl Lester M. Yap The peso yesterday climbed more than 30 centavos up against the dollar amid a lack of demand and continued strong inflows from abroad, dealers said. "Volatility seems...

Banks seek clarification on loan-loss rules.
November 23, 2005... (From BusinessWorld (Philippines)) Byline: Iris Cecilia C. Gonzales Some banks are seeking clarification from the Bangko Sentral ng Pilipinas regarding a major provision in the International Accounting Standards (IAS), a set of new...

AD LIB.
November 23, 2005... (From BusinessWorld (Philippines)) Byline: Greg B. Macabenta Last week, I attended the 19th Philippine Advertising Congress in Cebu City, particularly intrigued by its theme, "Ready for the world." I had the impression that my...

RCBC ready for new accounting norms.
November 23, 2005... (From BusinessWorld (Philippines)) Byline: Ma. Elisa P. Osorio Yuchengco-led Rizal Commercial Banking Corp. (RCBC) said it is prepared to deal with the effects of the International Accounting Standards (IAS) which is scheduled to be...

PITC, GSK tie up to curb high drug prices.
November 23, 2005... (From BusinessWorld (Philippines)) The Philippine International Trading Corp. (PITC) and research-based pharmaceutical company GlaxoSmithKline Philippines (GSK) have signed a memorandum of agreement (MoA) that will make GSK's Value...

DHL provides support to earthquake victims.
November 23, 2005... (From BusinessWorld (Philippines)) Global express and logistics firm DHL has leveraged its expertise in the management of complex logistics and transportation processes to help deliver aid and relief supplies to the survivors of the...

CONSUMER GUIDE.
November 23, 2005... (From BusinessWorld (Philippines)) Inspirational book Catholic lay preacher and writer Bo Sanchez releases his newest book, Fill Your Life with Miracles, the fourth book in "The Boss" series. Like the other three books in the series,...

CAPITAL VIEW.
November 23, 2005... (From BusinessWorld (Philippines)) Byline: Mercedes B. Suleik Corporate governance continues to be very much an important concern in the development of the Philippine capital market. It was thus that the Securities and Exchange...