BusinessWorld (Philippines) articles from October 2006, page 4

BusinessWorld (Philippines) archives from October 2006

Peso strengthens on strong inflows.
October 26, 2006... (From BusinessWorld (Philippines)) The peso yesterday appreciated against the dollar, tracking other currencies that benefited from foreign investment flows into the region. Currency dealers traced the stronger local currency to a...

SSS premiums higher by Jan. 1.
October 26, 2006... (From BusinessWorld (Philippines)) Byline: Josefa Labay Cagoco Employers and self-employed individuals must pay an additional 1% in contributions to the Social Security System (SSS) starting Jan. 1. President Gloria...

Body vs card fraud okayed.
October 26, 2006... (From BusinessWorld (Philippines)) Byline: Josefa Labay Cagoco Malacanang yesterday ordered the creation of an anti-fraud task force (AFTF) to curb losses from fraudulent credit card transactions. President Gloria...

ERRATUM.
October 26, 2006... (From BusinessWorld (Philippines)) Yesterday's story titled 'DBP to raise P8 billion abroad' erroneously reported that the state-run bank would issue bonds abroad. Development Bank of the Philippines will in fact tap the local market as...

Stocks rally on outlook for corporate profits.
October 26, 2006... (From BusinessWorld (Philippines)) Byline: AFP with Ruby Anne M. Rubio Share prices continued to trek higher yesterday, rallying for a fifth straight trading day on buying in companies expected to report strong third-quarter profits....

CALLING A SPADE.
October 26, 2006... (From BusinessWorld (Philippines)) Byline: Solita C. Monsod TAMUNING, Guam - As Yogi Berra would have said, "It's deja vu all over again." That's what I felt when I read the front page of Guam's Pacific Daily News on my first morning...

BYSTANDER.
October 26, 2006... (From BusinessWorld (Philippines)) Byline: Dean O. de la Paz In Quezon City's third district, electricity was finally fully restored two weeks after "Milenyo" although full-service utilities continued to be spotty for weeks after....

THE VIEW FROM TAFT.
October 26, 2006... (From BusinessWorld (Philippines)) Byline: Tristan H. Macapanpan I am writing this from Bandung, Indonesia. I have a class in Managerial Statistics for Indonesian students enrolled in an MBA program that De La Salle Professional...

UPSHOT.
October 26, 2006... (From BusinessWorld (Philippines)) Byline: Bernardo V. Lopez In a seeming conflict of interest, Meralco, together with the other members of the board of the Philippine electricity spot market, approved the rules prepared by the DoE...

BFAR promotes tilapia in Zamboanga.
October 26, 2006... (From BusinessWorld (Philippines)) Byline: Darwin T. Wee Zamboanga City - The regional office of the Bureau of Fisheries and Aquatic Resources (BFAR) has dispensed 50,000 fingerlings of hybrid tilapia last week in this city and in...

Consumers to suffer from higher prices.
October 26, 2006... (From BusinessWorld (Philippines)) Byline: Kristine L. Alave Local retailers have threatened to raise prices following a Trade department order prohibiting them from imposing additional fees on credit card purchases. Samie Lim,...

Nursing jobs in Saudi.
October 26, 2006... (From BusinessWorld (Philippines)) Zamboanga City - The Ministry of Health of the Royal Embassy of Saudi Arabia is hiring an additional 2,000 Filipino nurses to fill vacancy created by those who finished their work contract in the...

Transfer of detained Marines.
October 26, 2006... (From BusinessWorld (Philippines)) Six Marine officers involved in the foiled February coup d'etat attempt will be transferred to a naval base in Cavite City after Armed Forces of the Philippines Chief-of-Staff General Hermogenes C....

COMMENTARY.
October 26, 2006... (From BusinessWorld (Philippines)) Byline: Rick B. Ramos The recent military coup in Thailand reveals how the unique style of "democracy" and constitutional monarchy operate in the "Land of Smiles." When its armed forces flexed its...

'Arms to Farms' program.
October 26, 2006... (From BusinessWorld (Philippines)) Some families and members of the terrorist-tagged Abu Sayyaf group have returned to government fold through the "Arms to Farms" program, Sulu Governor Benjamin Loong said the other day. In a round-table...

Sustainable agriculture: growth from ground up.
October 26, 2006... (From BusinessWorld (Philippines)) With each passing day, a growing world population demands more and more of the Earth's resources in the production of food. To meet the challenges of the future and preserve the environment for...

Security alert level raised nationwide ahead of Nov. 1.
October 26, 2006... (From BusinessWorld (Philippines)) Byline: Michelle Syonne M. Reyes Law enforcement units as well as traffic authorities have now prepared their security monitoring all over the country to ensure safety in time for the observance of...

OFWs in Kazakhstan.
October 26, 2006... (From BusinessWorld (Philippines)) US-based construction firm Bechtel promised to transfer to other work sites the Filipino workers who are caught in the middle of labor conflicts at its Tengiz, Kazakhstan camp, the Department of Labor...

Health insurance.
October 26, 2006... (From BusinessWorld (Philippines)) The Employees' Compensation Commission (ECC) is confident that the state insurance fund for the private sector employees' health and other labor-related claims will no longer be depleted once employers...

DPWH to next pull down ads illegally built in private lands.
October 26, 2006... (From BusinessWorld (Philippines)) Byline: Ira May Joyce P. Pedrasa Department of Public Works and Highways (DPWH) Secretary Hermogenes E. Ebdane, Jr. yesterday instructed building officials in Metro Manila, Central Luzon and...

Finance exec faces probe for alleged graft.
October 26, 2006... (From BusinessWorld (Philippines)) Byline: Judy T. Gulane The Finance department is launching its own investigation into allegations that the head of the Revenue Integrity Protection Service (RIPS) program is himself living a...

US on nursing mess.
October 26, 2006... (From BusinessWorld (Philippines)) The US organization administering the qualifying exam for nurses would be watching how the government sorts the mess stirred up by the test leakage in June. "We will definitely [be] waiting for the...

Taxi owners withdraw fare hike petition.
October 26, 2006... (From BusinessWorld (Philippines)) Byline: Maricel E. Estavillo Taxi operators, represented by industry group Philippine National Taxi Operators Organization, withdrew yesterday their petition to increase cabs' "flagdown" rate to P45...

Lawmaker seeks dismissal of Pasig City mayor.
October 26, 2006... (From BusinessWorld (Philippines)) Byline: Alexis Douglas B. Romero House Representative Robert "Dodot" Jaworski, Jr. of Pasig said yesterday that Mayor Vicente P. Eusebio should be dismissed or suspended for his alleged negligence,...

Unity and peace call amid Eid.
October 26, 2006... (From BusinessWorld (Philippines)) Bacolod City - Members of the Muslim community in Bacolod called for unity and peace during their celebration of Eid al-Fitr yesterday. Alex Sultan, president of the Muslim Brotherhood, Inc. Negros...

Chemrez on biodiesel.
October 26, 2006... (From BusinessWorld (Philippines)) Filipino-owned Chemrez Technologies, Inc., a publicly listed company supplying alternative energy, yesterday stressed the benefits of using biodiesel in making vehicle engines efficient. Chemrez...

Palace acts versus 'ghost' employees.
October 26, 2006... (From BusinessWorld (Philippines)) Byline: Josefa Labay Cagoco The bureaucracy has to be rid of "ghost" employees said Malacanang, hence an order to clean up all state offices of such shadowy workers. Executive Secretary Eduardo...

PNOC-EDC to proceed with listing in December.
October 26, 2006... (From BusinessWorld (Philippines)) Byline: Iris Cecilia C. Gonzales Philippine National Oil Co. (PNOC), a government energy firm, will push through with the planned initial public offering (IPO) of its geothermal unit in the second...

Jaguar sales to reach more than 100 units next year.
October 26, 2006... (From BusinessWorld (Philippines)) Byline: Kristine L. Alave The market for luxury cars in the Philippines is growing and there is a renewed interest in such premium vehicles, the president of Jaguar Cars Philippines, Inc. said. ...

Chemrez expects income boost to come from biodiesel demand.
October 26, 2006... (From BusinessWorld (Philippines)) Byline: Ruby Anne M. Rubio Listed Chemrez Technologies, Inc., formerly known as powder coating firm Corro-Coat, Inc., expects its revenues to hit P4.72 billion next year, up 76.78% from the...

PSE index to breach 3,000 level - First Metro.
October 26, 2006... (From BusinessWorld (Philippines)) Byline: Ruby Anne M. Rubio Easing interest rates in the local and global markets coupled with high liquidity and good corporate earnings will propel the PSEi to as high as 3,000 this year and rise...

Discovery management plans to build more resorts.
October 26, 2006... (From BusinessWorld (Philippines)) Byline: Paolo Joseph L. Lising Optimistic of growth prospects in the tourism industry next year, an official of resort developer HSAI-Raintree Hospitality Management yesterday said it will put up...

Aboitiz unit to lower rates in Subic ecozone.
October 26, 2006... (From BusinessWorld (Philippines)) Byline: Iris Cecilia C. Gonzales Subic EnerZone Corp. (SEZ), the Aboitiz-led power firm that supplies power to the Subic Bay Freeport zone in Olongapo, said it is offering lower electricity rates to...

ERC orders CEBECO I to refund consumers up to P11 million.
October 26, 2006... (From BusinessWorld (Philippines)) Byline: Karen Flores-Garcia Cebu City - The Energy Regulatory Commission (ERC) has directed the Cebu Electric Cooperative (CEBECO) I to refund nearly half-a-million customers a total of P10.92...

PLDT employees complain of slow action on new CBA.
October 26, 2006... (From BusinessWorld (Philippines)) Byline: Maricel E. Estavillo Rank-and-file employees of the Philippine Long Distance Telephone Co. (PLDT) are set to stage a march today in front of the company's Makati City office to protest what...

Ecozone okays resort's master plan, extension.
October 26, 2006... (From BusinessWorld (Philippines)) Byline: Ruby Anne M. Rubio The Cagayan Economic Zone Authority (CEZA) has approved the proposed master plan of First Cagayan Leisure and Resort Corp. and its extension for 25 years as master...

PSE, SEC differ on interpreting broker rule.
October 26, 2006... (From BusinessWorld (Philippines)) Byline: Ruby Anne M. Rubio The Philippine Stock Exchange (PSE) has to exert best efforts to comply with the requirement to lessen brokers' control over the bourse before the Securities and Exchange...

US fund manager buys into Semirara.
October 26, 2006... (From BusinessWorld (Philippines)) Byline: Ruby Anne M. Rubio US-based FMR Corp., which owns the Fidelity Investments family of mutual funds, now holds 5.03% of publicly listed Semirara Mining Corp. after it bought 14.94 million...

Local car services firm mulls international expansion.
October 26, 2006... (From BusinessWorld (Philippines)) Diamond IGB, Inc., a licensee of Budget Rent A Car in the Philippines, is mulling to expand overseas its comprehensive fleet management solutions called Diamond Fleet Management System (DFMS), which...

Infrastructure development stressed.
October 26, 2006... (From BusinessWorld (Philippines)) Byline: Beverly T. Natividad Reappointed Agriculture Secretary Arthur C. Yap wants to focus on building necessary infrastructure to fuel further growth in the agricultural sector. Addressing...

Japan loan sought for P500-M flyover project in Davao City.
October 26, 2006... (From BusinessWorld (Philippines)) Davao City - A proposal for this city's third flyover structure has been submitted to the National Economic and Development Authority (NEDA) for inclusion in next year's Japanese-assisted...

'Strong' GDP growth seen.
October 26, 2006... (From BusinessWorld (Philippines)) An official of the country's chief economic planning agency sees economic growth hitting the higher end of projections in the fourth quarter, on the back of seasonally robust dollar inflows from overseas...

LRT-South extension funding estimated to top $680 million.
October 26, 2006... (From BusinessWorld (Philippines)) Byline: Maricel E. Estavillo The needed funding for the Light Rail Transit Line 1 (LRT-1) extension to Bacoor in Cavite, originally placed at $600 million, is estimated to reach $680 million, LRT...

Retailer may get power from Transco.
October 26, 2006... (From BusinessWorld (Philippines)) Byline: Karen Flores Garcia Cebu City - The Super Metro Mandaue, a member of the Metro Gaisano chain of department stores and supermarkets, may be allowed to directly source its power from the...

North Luzon rail project OK'd.
October 26, 2006... (From BusinessWorld (Philippines)) The National Economic and Development Authority (NEDA) Board, the country's highest policy-coordinating body chaired by President Gloria Macapagal Arroyo, has approved Phase 1, Section 2 of the North...

Tax chief sees better VAT collections.
October 26, 2006... (From BusinessWorld (Philippines)) Byline: Judy T. Gulane The Bureau of Internal Revenue (BIR) expects higher value-added tax (VAT) payments from business establishments as a result of its "Premyo sa Resibo" raffle program. BIR...

Tourism players bullish on 2007.
October 26, 2006... (From BusinessWorld (Philippines)) Byline: Paolo Joseph L. Lising The relatively healthy economy this year points to rosy prospects for the tourism industry in 2007. In an informal gathering yesterday, key industry players in the...

JBIC drawing up stricter project criteria.
October 26, 2006... (From BusinessWorld (Philippines)) The Japan Bank for International Cooperation (JBIC) yesterday said it will strictly consider a proposed project's impact and relevance, among other criteria, before approving it for Japanese funding....

RP, Indonesia blamed for Pacific's dwindling tuna.
October 26, 2006... (From BusinessWorld (Philippines)) Byline: Romer S. Sarmiento General Santos City - The Philippines, and Indonesia have been cittted as the major contributors to the depletion of tuna stocks, particularly yellowfin and bigeye, in...

GSIS taps PLDT for remote kiosks.
October 26, 2006... (From BusinessWorld (Philippines)) The Government Service Insurance System has tapped the Philippine Long Distance Telephone Co. (PLDT) to help provide a more accessible, paperless and faster means of transaction for its 1.5 million...

RP-Japan pact could override existing laws, legal experts warn.
October 26, 2006... (From BusinessWorld (Philippines)) The Japanese-Philippine Economic Partnership Agreement (JPEPA) could override some provisions of existing laws, including one which bans the importation of waste materials, used garments, and...

Palace not giving up on Cha-cha.
October 26, 2006... (From BusinessWorld (Philippines)) Byline: Josefa L. Cagoco Malacanang is not giving up on its bid to amend the 1987 Constitution despite the Supreme Court's rejection of a so-called people's initiative. President Gloria...

Will the legislative option prosper?
October 26, 2006... (From BusinessWorld (Philippines)) Byline: Reagan D. Tan and Alexis Douglas B. Romero Pro-administration legislators yesterday revived moves to convene both houses of Congress into a constituent assembly to amend the 1987...

Global economy seen slowing, but RP expected to buck trend - UBS.
October 26, 2006... (From BusinessWorld (Philippines)) Byline: Karl Lester M. Yap The global economy is expected to slow down next year, financial giant UBS said, but some countries including the Philippines are likely to stay resilient and post...

SPECIAL FEATURE: Trust Executives.
October 26, 2006... (From BusinessWorld (Philippines)) Byline: Cherry C. Bobadilla Trust executives are bankers of a different kind. And while their field is not as popular in the country as traditional banking services like deposits and loans, trust...

SPECIAL FEATURE: Trust Executives.
October 26, 2006... (From BusinessWorld (Philippines)) Byline: Cherry C. Bobadilla If BPI Asset Management Executive Vice-President Adelbert A. Legasto were to give one advice to young professionals, it would be to stay focused on what they are doing....

SPECIAL FEATURE: Trust Executives.
October 26, 2006... (From BusinessWorld (Philippines)) Byline: Cherry C. Bobadilla From time to time, banks face scenarios that challenge their stability, putting to test their officers' competency and reliability. Marvin V. Fausto, senior...

Airline to cut fuel surcharge.
October 26, 2006... (From BusinessWorld (Philippines)) Byline: Maricel E. Estavillo Amid the recent easing of oil prices, Singapore Airlines has filed a petition at the Civil Aeronautics Board (CAB) to cut fuel surcharge to $18 from $20 for every...

Factory output remains dismal.
October 26, 2006... (From BusinessWorld (Philippines)) Byline: Josephine B. Valle Factories continued their dismal performance in August as major sectors posted double-digit declines in output. In its Monthly Integrated Survey of Selected Industries...

SPECIAL FEATURE: Trust Executives.
October 26, 2006... (From BusinessWorld (Philippines)) Byline: Cherry C. Bobadilla With members of her troop barely in their 30's, Josefina E. Sulit, head of Metropolitan Bank and Trust Co.'s (Metrobank) Trust Banking Group, can not help but draw...

SPECIAL FEATURE: Trust Executives.
October 26, 2006... (From BusinessWorld (Philippines)) Byline: Sam L. Marcelo When he's walking around Ayala Center in Makati City, Security Bank Corp.'s First Vice-President and Trust Officer Wilfredo S. Talastas is often stopped with the familiar and...

Napocor to sell $500 million in 10-year bonds.
October 26, 2006... (From BusinessWorld (Philippines)) Byline: Iris Cecilia C. Gonzales State-owned National Power Corp. (Napocor) is eyeing to sell $500 million worth of 10-year bonds in a bid to raise funds for its refinancing needs. The Power...

FAST FORWARD.
October 25, 2006... (From BusinessWorld (Philippines)) Byline: Argee Guevarra As of this writing, sources at the Department of Justice indicated that a special investigation panel is preparing charges against another batch of 80 individuals in...

CAPITAL VIEW.
October 25, 2006... (From BusinessWorld (Philippines)) Byline: Mercedes B. Suleik It has been estimated that more than 840 million people in the world are hungry (Bread for the World Institute) and/or are malnourished. Some 800 million of them live in...

UPSHOT.
October 25, 2006... (From BusinessWorld (Philippines)) Byline: Bernardo V. Lopez Raindrops are small, but a million raindrops can make a flood. And if you harnessed a flood into a dam, it is like harnessing a million candles that can light an entire...

GRASSROOTS & GOVERNANCE.
October 25, 2006... (From BusinessWorld (Philippines)) Byline: Teresa S. Abesamis The fluctuating signals regarding the nursing exam leak and the Comelec purchasing scandals seem to me just a symptom of how confused we are, and how ambiguous our moral...

DBP to raise P8B abroad.
October 25, 2006... (From BusinessWorld (Philippines)) Byline: Maria Eloisa I. Calderon State-run Development Bank of the Philippines (DBP) will tap the offshore market anew to raise nearly P8 billion in Tier 2 capital, the bank's top official said. ...

Shoptalk.
October 25, 2006... (From BusinessWorld (Philippines)) Landlord's market The rising rental rates of office space in business districts has prompted property services firm Jones Lang LaSalle to declare that the office rental sector is now a landlord's...

RCBC sells $100 million in bonds.
October 25, 2006... (From BusinessWorld (Philippines)) Byline: Maria Eloisa I. Calderon Yuchengco-led Rizal Commercial Banking Corp. (RCBC) has raised $100 million from its perpetual bond issue last week, the bank said in a disclosure to the stock...

SPECIAL FEATURE.
October 25, 2006... (From BusinessWorld (Philippines)) Through the years, Habitat for Humanity Philippines (HFHP) has made itself known as an organization that reaches out to the less privileged communities by helping them build decent homes. Having...

SPECIAL FEATURE.
October 25, 2006... (From BusinessWorld (Philippines)) The European Union (EU) has awarded a grant worth one million euros to the Habitat for Humanity Philippines (HFHP) for its "Build for Peace" project. The grant will cover various peace and...

SPECIAL FEATURE.
October 25, 2006... (From BusinessWorld (Philippines)) Habitat for Humanity Philippines (HFHP) embarks on several big projects this month as part of its goal of building more houses in celebration of the National Shelter Month. It's all systems go for...

NOT SO FAST.
October 25, 2006... (From BusinessWorld (Philippines)) Byline: Tito F. Hermoso If one were to survey today's local road users, many would agree that a good proportion of all those five million or so driving license holders out there is in need of a...

The Starex goes PRO.
October 25, 2006... (From BusinessWorld (Philippines)) Byline: Kristine L. Alave South Korea-based automotive manufacturer Hyundai Motor Co. recently unveiled a new model for its popular Starex line, called the Starex PRO which is targeted at...

BRIEFS.
October 25, 2006... (From BusinessWorld (Philippines)) BMW supports the ASEAN Summit At a symbolic ceremony held in Malacanang, BMW Philippines handed over more than 50 7 Series and 5 Series cars for the 12th ASEAN Summit. These meetings will take place...

FNRI, ASTI launch Web-based info system on nutrition.
October 25, 2006... (From BusinessWorld (Philippines)) The Food and Nutrition Research Institute (FNRI) and the Advanced Science and Technology Institute (ASTI), both attached agencies of the Department of Science and Technology (DoST), recently launched...

SM Foundation holds medical project.
October 25, 2006... (From BusinessWorld (Philippines)) Mallgoers shared their unopened and unexpired medicine with the less fortunate in SM Foundation's "Gamot Para Sa Kapwa" campaign, which ran at SM Supermalls until September. A joint project with the...

CONSUMER GUIDE.
October 25, 2006... (From BusinessWorld (Philippines)) Ayala Life, Ayala Plans promo Ayala Life Assurance, Inc. and subsidiary Ayala Plans, Inc. are conducting a Client Info Update Promo. Brand-new Nokia phones are in store for 10 winners. All Ayala...

EVOlution of the GT species.
October 25, 2006... (From BusinessWorld (Philippines)) Byline: Tito Hermoso The last time I was introduced to a very expensive car that did not even have a standard fit radio was in 1987. But then, the raucous Ferrari 288 GTO was meant for racing and...

PRSP confers awards at PR congress.
October 25, 2006... (From BusinessWorld (Philippines)) As a tribute to their excellent leadership in the practice of public relations in the country, Sen. Richard Gordon, RR dela Cruz, and Prof. Roel Ramirez, APR, were recently conferred the prestigious...

Water and glass.
October 25, 2006... (From BusinessWorld (Philippines)) Byline: Anna Barbara L. Lorenzo Artist Impy Pilapil sees the ocean as an eternal source of inspiration. She relays the joy she sees in the water to anyone who views her works. This is why most...

ARTS & CULTURE.
October 25, 2006... (From BusinessWorld (Philippines)) Art Center/Galerie Y Guhit, a group composed of Aladin Antiqueno, Angelo Baldemor, Araceli Limcaco, Dans, Joven Ignacio, Felipe Mayoya, Azor Pazcoguin, Tito Sanchez and Janice Liuson Young, present...

Off-road on a racetrack.
October 25, 2006... (From BusinessWorld (Philippines)) Byline: Anna Barbara L. Lorenzo The 2006 Ford Ranger won't be unleashed in the market until next month but it's already had its baptism of fire in the hands of local motoring media. Shortly...

Christmas trees help people get back on their feet.
October 25, 2006... (From BusinessWorld (Philippines)) Byline: Anne Nerissa C. Alina "Helping people help themselves." This is the fundamental principle that Philippine Business for Social Progress (PBSP) and the Makati Garden Club (MGC) have been...