BusinessWorld (Philippines) articles from October 2006

BusinessWorld (Philippines) archives from October 2006

FRAMEWORK.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Elfren Sicangco Cruz Although there has been tremendous interest in entrepreneurship in the Philippines, there is still actually no generally accepted definition or model of what the...

FENCE SITTER.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Antonio R. Samson Who writes horoscopes and why do they differ from one another? Is there an accrediting institution editing the prognostications for acceptability and quality control (this...

TO TAKE A STAND.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Oscar P. Lagman, Jr. "Based on our research, we have found the Philippines to be less cost effective than other neighboring countries such as Malaysia and Thailand. As our clients are...

COMMENTARY.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Pablo S. Trillana III As Filipinos prepare to visit their dead in cemeteries nationwide, it is well to reflect that death is inevitable and inescapable. Even saints and heroes die. Some are...

THE FINANCIAL EXECUTIVE.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Wilma Miranda According to BusinessWeek Europe in its Sept. 26, 2006 issue, the country presently employs more than 200,000 people in outsourcing jobs, and with an estimated 48% growth by...

Thrift banks' bad loan ratio worsens in August as total bad loans.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Judy T. Gulane Thrift banks accumulated more bad loans in August than in July, driving the sector's nonperforming loan (NPL) ratio to 8.68%, higher than 8.38% the month earlier. In a...

Exportbank president retires effective today.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Ma. Eloisa I. Calderon Export and Industry Bank (Exportbank) will have Jaime C. Gonzalez, the bank's chairman, as concurrent president following the retirement of Benjamin P. Castillo next...

Peso steady versus dollar.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Ma. Eloisa I. Calderon The peso yesterday closed unchanged from Friday's P49.82 per dollar, which revived strength amid trickling demand typical during end of the month. It opened...

Sun Life registers 26% earnings rise.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Marlene H. Elmenzo Sun Life Financial, Inc. (Sun Life), posted a 26% increase in earnings in the third quarter due to higher profits here and abroad. The multinational financial service...

Group lists 133 firms free from anti-software piracy sanctions.
October 31, 2006... (From BusinessWorld (Philippines)) The Business Software Alliance (BSA), a nonprofit organization dedicated to promoting the use of licensed software, recently announced that a total of 133 companies qualified for the SAM Advantage...

PHILIPPINE SILICON VALLEY.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Dennis Posadas Like many Third World countries, the digital divide in the Philippines is gargantuan. Only about 6% of public schools have Internet training and access. Only 39% of the 5,443...

HP introduces latest product suite.
October 31, 2006... (From BusinessWorld (Philippines)) Hewlett-Packard (HP) has expanded the industry's commercial computing products with the introduction of five new business PCs, a thin client solution, and three monitors engineered to simplify business...

Gardenia backs Rotary project.
October 31, 2006... (From BusinessWorld (Philippines)) The Rotary Club of Alabang, in partnership with Gardenia Bakeries Phils., Inc. (GBPI), recently launched its "4 Way Test" awareness project at the GBPI plant in Binan, Laguna. The project aims to...

BPI Foundation brings SME program to Cagayan de Oro.
October 31, 2006... (From BusinessWorld (Philippines)) BPI Foundation, Inc., the social development arm of the Bank of the Philippine Islands (BPI), recently held its "Show Me, Teach Me, SME!: Empowering Entrepreneurs" program at the Pearlmont Inn, Cagayan...

BRIEFS.
October 31, 2006... (From BusinessWorld (Philippines)) Free marketing seminars The Chinese Filipino Business Club, Inc. (CFBCI), through its Small Medium Enterprise Center and Trade and Commerce Committee, will host a series of seminars on marketing...

CONSUMER GUIDE.
October 31, 2006... (From BusinessWorld (Philippines)) Yoshinoya chicken feast Japanese fastfood chain Yoshinoya will introduce four meal choices during its "Chicken Feast" which will begin on Nov. 16 at all Yoshinoya branches. New offerings include the...

CLARIFICATION.
October 31, 2006... (From BusinessWorld (Philippines)) In the Special Feature published in yesterday's issue of BusinessWorld, the sentence, "Only turned 82 last Oct. 15, [Henry Sy, Sr.] is among the world's richest people, with a net worth marked at P1.5...

Security Bank posts 51% hike in net income.
October 31, 2006... (From BusinessWorld (Philippines)) Security Bank Corporation posted a net income of P1.35 billion from January to September, 51% higher than P897 million a year ago and surpassing by P197 million its P1.16-billion net income in 2005. ...

COURTSIDE.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Anthony L. Cuaycong It's easy to make assumptions about Red Auerbach's skills as head coach. After all, there are more than enough old footages of the Celtics' glory years under his watch...

Two more Pinoy cue artists gain berths in World Pool tourney.
October 31, 2006... (From BusinessWorld (Philippines)) Eduardo Villanueva and Lee Van Corteza of the Philippines won spots in the 2006 Philippines World Pool Championship by ruling Qualifiers 3 & 4 on Sunday at the Star Billiards Center in Quezon City. ...

GIVE AND GO.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Michael Angelo S. Murillo Tomorrow, Nov. 1, the entire country comes to a stop to remember the departed. It's a time when Filipinos flock to the cemeteries to say a prayer to their dead...

SPECIAL FEATURE: RP, INC.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Gerard S. dela Pena It is hardly surprising for a telco chief to talk about future trends, the core of his business being largely involved with up-and-coming technologies and consumer...

SPECIAL FEATURE: RP, INC.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Gerard S. dela Pena For someone whose aim is to contribute to the transformation of society, perhaps nothing can beat having the opportunity to be in an industry that is, quite literally,...

SPECIAL FEATURE: RP, INC.
October 31, 2006... (From BusinessWorld (Philippines)) Motoring enthusiasts possibly envy Nissan Motor Philippines, Inc. (NMPI) President and Chief Executive Officer Leman C.C. Lee's position, what with all the test driving and "car-gazing" privileges that...

SPECIAL FEATURE: RP, INC.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Johanna Paola D. Poblete Manila Water Co., Inc. President Antonino T. Aquino knows exactly what he's doing. As the former head of Ayala Property Management Corp. (APMC), he has had...

SPECIAL FEATURE: RP, INC.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Samantha Leslie L. Marcelo When Cecilio Kwok Pedro started in the toothpaste business, he was the guy who made the aluminum tubes for multinationals like Colgate-Palmolive and Unilever. ...

SPECIAL FEATURE: RP, INC.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Gerard S. dela Pena In his speech before journalists at the Media Nation Summit last year, GMA Network, Inc. President and Chief Executive Officer Atty. Felipe L. Gozon stressed on the...

SPECIAL FEATURE: RP, INC.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Samantha Leslie L. Marcelo Green is the color of the blood flowing through the veins of Philippine American Life and General Insurance Co. (Philamlife) President and Chief Executive Officer...

PINOY NA PINOY.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Edilberto N. Alegre Tomorrow we will troop to where our dead are buried and not even the rains could stop us. Remembering them has the elementary force of annual rites. Not observing them...

LPG price cut.
October 31, 2006... (From BusinessWorld (Philippines)) Liquefied petroleum gas (LPG) dealers will reduce retail prices by P0.50 per kilogram for every regular 11-kilogram LPG tank, the LPG Marketers Association yesterday said. Association president Arnel Ty...

Jobs for the youth.
October 31, 2006... (From BusinessWorld (Philippines)) Economies around the world should churn out a total of 400 million jobs for the youth to maximize their potential to their countries. Based on the study of the International Labor Organization entitled...

Interest in blue chips drives share prices up.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: AFP and Ruby Anne M. Rubio Stocks continued their rally yesterday on follow-through buying in select blue chips set to report financial results for the third quarter. With a public...

Transco confidentiality.
October 31, 2006... (From BusinessWorld (Philippines)) Citing public interest, a senator yesterday slammed the confidentiality of the sale of the National Transmission Corp. (Transco) after officials failed to reveal the identities of three bidders due to...

Marines in Feb. coup.
October 31, 2006... (From BusinessWorld (Philippines)) Six Marine officers involved in the foiled February coup d'etat attempt has been transferred early yesterday morning to Fort San Felipe in Cavite City, a week after the Armed Forces learned of their...

Typhoon Paeng leaves 4 dead; crop damage minimal.
October 31, 2006... (From BusinessWorld (Philippines)) Typhoon "Paeng" (international code name Cimaron) whipped a deadly trail yesterday across the northern Philippines, blowing away houses and triggering landslides and floods that killed at least four...

6,000 enforcers deployed for All Saints' Day.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Michelle Syonne M. Reyes At least 6,000 law enforcement units of the Philippine National Police (PNP) have been deployed to ensure security in 63 cemeteries in Metro Manila in time for the...

SPECIAL FEATURE: RP, INC.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Johanna Paola D. Poblete The stereotypical head honcho is unlikely to be seen in public out of a suit, has at most four hours of sleep a day, and works at least six days a week. He is...

Ayala earmarks P6 billion for UP property.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Ruby Anne M. Rubio Ayala Land, Inc., the country's largest property developer, yesterday said it will invest P6 billion over the next five to 10 years to develop a 38-hectare property of the...

New power plant mulled for Tampakan project.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Romer S. Sarmiento General Santos City - A new and bigger power plant in Tampakan, South Cotabato may rise to support the electricity requirements of Sagittarius Mines, Inc. for its looming...

CBRE to manage Veterans Bank's foreclosed assets.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Ruby Anne M. Rubio Philippine Veterans Bank (PVB) has tapped CB Richard Ellis (CBRE) Philippines to manage its foreclosed assets, known in the industry as ROPOA or real and other properties...

MMDA sets traffic rerouting scheme for Nov. 1.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Alexis Douglas B. Romero The Metro Manila Development Authority (MMDA) will adopt a traffic rerouting scheme for All Saints' Day, where many Filipinos are expected to flock cemeteries. The...

Robinsons Land to expand Manila mall wing in 2007.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Ruby Anne M. Rubio Gokongwei-led Robinsons Land Corp. (RLC) will increase the total gloss floor area of Robinsons Place Manila to 240,000 square meters as it opens an additional wing by...

Mirant formalizes workers' separation pay.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Iris Cecilia C. Gonzales Mirant Philippines, an independent power producer, yesterday said it has signed a separation policy granting employees 2.5 months worth of pay for every year of...

Alltech mulls genome study.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Beverly T. Natividad Multinational feeds company Alltech Biotechnology Corp. is currently looking into the study of the animal gene to help breeders prevent animal diseases and translate...

Services firm eyes Cebu for expansion plans.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Anne Nerissa C. Alina After 10 years of providing professional facilities management services in the country, Facilities Managers, Inc., the Philippine franchisee of ServiceMaster, plans to...

San Antonio azucarera mulls 14-MW biomass plant.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Iris Cecilia C. Gonzales The Central Azucarera de San Antonio in Iloilo will put up a 14- megawatt (MW) biomass cogeneration plant which will supply additional power to its sugar mill...

CORPORATE FILES.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Kristine L. Alave When Sterling Construction and Development Corp. started, it was just three years after the devastating Asian financial crisis. But according to its operations...

January-October economic zone investments rise 38% from 2005.
October 31, 2006... (From BusinessWorld (Philippines)) Investments in the economic zones under the Philippine Economic Zone Authority (PEZA) surged 37.353% to P62.88 billion in the 10 months to October, from last year's P45.78 billion. A report from...

Central Mindanao export dev't plan completion delayed.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Romer S. Sarmiento General Santos City - Completion of the Regional Export Development Plan being drafted by the Department of Trade and Industry (DTI) office in Central Mindanao remains...

New 3G player urges facilities sharing among telco firms.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Paolo Joseph L. Lising A new entrant in the 3G space, Connectivity Unlimited Resource Enterprise, Inc. (CURE) has urged the industry regulator to compel big telecommunications players to...

Property firm targets overseas Filipinos in international road show.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Ruby Anne M. Rubio Quadrillion Group of Companies is preparing for the second leg of its European road show next month to convince overseas Filipino workers (OFW) to invest in real estate...

Coconut producers in Eastern Visayas urged to focus on coir, virgin.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Lemuel L. Pagliawan Tacloban City - Coconut producers in the Eastern Visayas region have been urged to focus on the production of coco coir and virgin coconut oil, both of which enjoy high...

BFAR to assess risk of raising Indonesian catfish.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Fernando C. Zamora Davao City - Technical staff from the national office of the Bureau of Fisheries and Aquatic Resources (BFAR) will visit the city to conduct a risk assessment on an...

Prime Orion back in the red.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Ruby Anne M. Rubio Publicly listed investment holding company Prime Orion Philippines, Inc. returned to red after it realized a consolidated net loss of P193 million for fiscal year ending...

Many Mindanao areas found wanting in data for business.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Romer S. Sarmiento Davao City - Local governments in much of Mindanao have to exert more effort to provide data crucial to setting up businesses in their areas if they are serious in...

Japan mulls $1-B loan for shipping upgrade.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Bernardette S. Sto. Domingo The Japanese government is considering a $1-billion loan to help modernize the Philippine maritime industry, the country's chief economic planner told reporters...

ADB exec calls for balanced regional dev't.
October 31, 2006... (From BusinessWorld (Philippines)) Spreading the benefits of growth more evenly around Asia and the Pacific is crucial to attaining global stability and prosperity in the region, an official of the Asian Development Bank (ADB) said...

Income, capital gains tax take falls short of targets in Sept.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Judy T. Gulane Tax collections from net income and profit by the Bureau of Internal Revenue (BIR) were 4.93% short of the target as of September, but were higher by about 18.27% year on...

LET'S TALK TAX.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Arnold P. Supilanas Taxpayers that have adopted computerized accounting systems (CAS) should brace for high-tech BIR audits. The Bureau of Internal Revenue (BIR) has recently issued...

Defense chief won't be axed for position on Charter change.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Josefa Labay Cagoco and Reagan D. Tan Defense Secretary Avelino J. Cruz, Jr. will not be removed from the Cabinet because of his position on Charter change, which differs from that of the...

Tax abatement deadline extended to December 22.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Judy T. Gulane The Bureau of Internal Revenue (BIR) has extended the deadline of its tax abatement program to Dec. 22. The program should have ended today. In Revenue Memorandum...

Business chamber row simmers in Mindanao.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Carmelito Q. Francisco Davao City - An offshoot of its falling out with the Philippine Chamber of Commerce and Industry (PCCI), the Mindanao Business Council (MinBC) has started recruiting...

Cesar Nazareno, 65.
October 31, 2006... (From BusinessWorld (Philippines)) The first Philippine National Police (PNP) chief died yesterday morning, incumbent Police chief Director General Oscar C. Calderon said. Police General Cesar P. Nazareno died of aneurysm at the Medical...

Budget airlines in Clark.
October 31, 2006... (From BusinessWorld (Philippines)) Clark Special Economic Zone - A top official of the Clark International Airport Corp. (CIAC) expressed fears of massive pullout of international air companies operating here with the Palace-imposed...

High court reversal of people's initiative ruling seen not likely.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Paul C.H. How A former Supreme Court justice sees little chance for a reversal of the high court's decision last week junking a signature campaign to amend the 1987 Constitution. ...

Graft case vs Binay dismissed.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Alexis Douglas B. Romero The Sandiganbayan's Third Division yesterday dismissed the graft case against Makati Mayor Jejomar C. Binay and six others for lack of facts that would prove their...

Lifting of restraining order on Binay suspension sought.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Paul C.H. How Another petition has been filed at the Court of Appeals to lift the 60-day temporary restraining order it had issued on the preventive suspension of Makati Mayor Jejomar C....

Group seeks sanction vs Brion.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Paul C.H. How The Alliance of New Nurses wants the Court of Appeals to sanction Labor Secretary Arturo S. Brion for allegedly defying the court's orders allowing the oath taking of new...

Overall Japanese businessmen's sentiment turns positive in Oct.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Bernardette S. Sto. Domingo Japanese firms in the Philippines are more optimistic about doing business in the country, as shown by a positive business sentiment index for October, a survey...

RP-China links pushed.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Josefa L. Cagoco The success of existing Chinese ventures in the country is crucial to drawing in more, with trade experts saying Manila has to demonstrate it is capable of handling...

Corporate regulator issues new rules for independent directors.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Jeffrey O. Valisno Independent directors sitting in company boards are now required to submit separate certifications of their affiliations to ensure greater corporate transparency, the...

No waste shipments sans RP okay.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Kristine L. Alave The Japanese government has issued assurances that Tokyo would not be dumping hazardous waste in the country in the wake of the Japan-Philippines Economic Partnership...

Arroyo wants ASEAN to be a security forum.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Josefa Labay Cagoco President Gloria Macapagal-Arroyo wants the Association of Southeast Asian Nations (ASEAN) to become a forum for regional cooperation in security. "In the light of...

Panganiban's replacement key to Charter change bid.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Alexis Douglas B. Romero The retirement of Chief Justice Artemio V. Panganiban on Dec. 7, 2006 may prove to be decisive for the supporters of Charter change. Mr. Panganiban was one of...

No decision yet on WESM shutdown.
October 31, 2006... (From BusinessWorld (Philippines)) Byline: Iris Cecilia C. Gonzales The government is still assessing whether or not to suspend the operations of the wholesale electricity spot market (WESM) next month due to the scheduled shutdown...

SPECIAL FEATURE: Taipan Henry Sy, Sr.
October 30, 2006... (From BusinessWorld (Philippines)) Byline: Johanna Paola D. Poblete Henry Sy Sr., the founder of and visionary behind the billion-dollar SM conglomerate, is a well-known and well-respected figure. Only turned 82 last Oct. 15, he is...

SPECIAL FEATURE: Taipan Henry Sy, Sr.
October 30, 2006... (From BusinessWorld (Philippines)) Byline: Gerard S. dela Pena The name Henry Sy Sr. will always be associated with SM, the brand that he has managed to grow from scratch for over 50 years. Having dedicated practically more than...

SPECIAL FEATURE: Taipan Henry Sy, Sr.
October 30, 2006... (From BusinessWorld (Philippines)) Byline: Samantha Leslie L. Marcelo It is the immigrant mentality and work ethic, not the so-called Chinese flair for business, that helped Henry Sy Sr. achieve success of mythical proportions. In...

SPECIAL FEATURE: Taipan Henry Sy, Sr.
October 30, 2006... (From BusinessWorld (Philippines)) George S. Lee, Chinese Filipino Business Club President: I believe Mr. Sy has a vision. I've known him since 1958. He put up his shoe store in Carriedo, in Avenida... It wasn't called Shoemart...

SPECIAL FEATURE: Taipan Henry Sy, Sr.
October 30, 2006... (From BusinessWorld (Philippines)) Byline: Samantha Leslie L. Marcelo There are 27 SM Supermalls in country. A few more and one could theoretically have a different shopping experience for every day in a month. Whether or not...

WEALTH MANAGER.
October 30, 2006... (From BusinessWorld (Philippines)) Byline: Benjamin V. Buco, Jr. Recommendation: LONG-TERM BUY Online brokerage CitisecOnline.com has given "long-term buy" recommendation on Ayala Land shares given the real-estate firm's growth...

WEALTH MANAGER.
October 30, 2006... (From BusinessWorld (Philippines)) Byline: Ruby Anne M. Rubio Real estate investment trusts (REITs) should continue their growth in the Asian region on the back of low interest rates, Standard & Poor's (S&P) said in a report. An...

WEALTH MANAGER.
October 30, 2006... (From BusinessWorld (Philippines)) Byline: Josephine B. Valle Recommendation: TRADING BUY/ LONG-TERM BUY Online brokerage firm 2tradeasia has placed a "trading buy" tag on Manila Electric Co. (Meralco) shares following the...

WEALTH MANAGER.
October 30, 2006... (From BusinessWorld (Philippines)) Byline: Jennee Grace U. Rubrico When a company does better than the only other firm that is in the same business, it is expected to get heaps of praises. So when east zone water concessionaire...