BusinessWorld (Philippines) articles from October 2011, page 10

BusinessWorld (Philippines) archives from October 2011

CALLING A SPADE...
October 13, 2011... Byline: Solita Collas-Monsod Snatching ignominy from the jaws of respect and esteem. That's what the Supreme Court (SC) did when it engaged in what can be called its questionable (the most generous of descriptions) conduct in the PAL-FASAP...

THE VIEW FROM TAFT.
October 13, 2011... Byline: Raymund B. Habaradas Fifty years ago, Yale University psychologist Stanley Milgram began a series of experiments that opened our eyes to the dangers of blind obedience to authority. He measured the willingness of study participants to...

CORE.
October 13, 2011... Byline: Benjamin E. Diokno Part 2 When President Aquino unveiled the PPP program to the world on the occasion of his first state-of-the-nation address, he proudly announced that some groups have shown interest to build an expressway from...

MOVERS,MAKERS, SHAKERS.
October 13, 2011... Byline: JJ Calero I had the pleasure of meeting Sheryll Tiango, "future-cruise consultant" of the Holland America cruise line who now sails with the Rotterdam. She has been with the Holland America since 2001. Hers is a story to make...

STRATEGIC PERSPECTIVE.
October 13, 2011... Byline: Rene B. Azurin "Any man's death diminishes me..." and we are all diminished by the death of Steve Jobs. There is no need to overstate what he was, to feel "the bells toll" in the eloquent meditation of the poet John Donne. Jobs was an...

Government cuts rice, corn output estimates for Q3.
October 13, 2011... Byline: Louella D. Desiderio THE AGRICULTURE department has cut its estimates for palay and corn production in the third quarter, citing preliminary data on damage from storms. An official of the Bureau of Agricultural Statistics (BAS)...

Taxpayer's right to due process.
October 13, 2011... Byline: Sylvia B. Salvador Taxes are the lifeblood of the government. This is the core essence of the relentless effort of the Bureau of Internal Revenue (BIR) to collect taxes. Statutorily, the Commissioner of Internal Revenue (CIR) or...

Makati rent hike tops Asian Q3 average.
October 13, 2011... THE RISE in commercial real estate values in the Makati central business district (CBD) outpaced the Asia-Pacific average in the third quarter amid continued investment and business expansion in the region, data from property consultancy Jones...

Developer plans to establish five-star Filipino hotel chain.
October 13, 2011... Byline: Franz Jonathan G. de la Fuente A DEVELOPER is looking to set up the country's first, homegrown, five- star hotel chain, starting with a project in Muntinlupa City. CHMI Hotels and Residences, Inc., the hotel arm of housing...

Gaisano mall to rise in Samar.
October 13, 2011... Byline: Reyan L. Arinto TACLOBAN CITY - The Cebu-based Gaisano Grand group of companies has acquired a state-owned lot in Calbayog City for its first shopping center in Samar. Calbayog City Mayor Ronaldo S. Aquino said he and Gaisano Grand...

New SM branch to hire 500.
October 13, 2011... Byline: Romer S. Sarmiento GENERAL SANTOS - SM Prime Holdings, Inc. is hiring at least 500 workers for a new mall here slated to open in the first quarter next year, the local Public Employment Services Office (PESO) said. PESO chief...

BPO firms told to maximize social media.
October 13, 2011... Byline: Kathleen A. Martin BUSINESS PROCESS outsourcing (BPO) firms should find ways to maximize use of social media to reach out to customers, officials said on Wednesday at the International Outsourcing Summit 2011 at Sofitel Philippine...

July foreign direct investments smallest in nine months - BSP.
October 13, 2011... FOREIGN DIRECT investments (FDI) marked July with a net inflow that was nevertheless just a little more than a tenth of the amount recorded the previous year, the Bangko Sentral ng Pilipinas (BSP) said in a statement on Wednesday. ...

Mines bureau renews exploration permits.
October 13, 2011... Byline: Louella D. Desiderio THE MINES and Geosciences Bureau (MGB) has approved the renewal of 10 exploration permits (EPs) with total exploration costs amounting to P220.61 million. "MGB Acting Director Leo L. Jasareno approved last Oct....

Education, Health dep'ts get funding.
October 13, 2011... Byline: Aubrey E. Barrameda THE DEPARTMENTS of Health and of Education will be the first to tap the P550-million revolving project development fund for public-private partnership (PPP) projects, the PPP Center announced yesterday. The...

Off-grid areas assured of power.
October 13, 2011... Byline: Marlen D. Limpag CEBU CITY - Camotes in Cebu and other areas outside the country's main power transmission grid are assured of a stable electricity supply until December, Energy Secretary Jose Rene D. Almendras said during a public...

Bacolod unveils new eco-tourism site.
October 13, 2011... Byline: Chrysee G. Samillano BACOLOD CITY - The city government is promoting a new eco-tourism destination as part of its celebration of Tourism Month. Alangilan, an upland village in the eastern part of this city, has a polo field, an...

Charges vs Arroyo to be filed in November: Aquino.
October 13, 2011... Byline: Johanna Paola D. Poblete and Antonio Siegfrid O. Alegado CHARGES will be filed next month against former president now Pampanga Rep. Gloria Macapagal-Arroyo (2nd district) for alleged involvement in graft and corruption, President...

Poll penalties raised in bill OK'd by House.
October 13, 2011... THE HOUSE of Representatives approved on third and final reading a bill raising the penalties for election-related offenses and allowing the filing of charges against poll officials involved in fraud. House Bill 4145, which seeks to amend...

Sea conflict to be raised during visit of Vietnamese leader.
October 13, 2011... Byline: Johanna Paola D. Poblete PRESIDENT BENIGNO S. C. Aquino III intends to raise the territorial conflict in the South China Sea with newly appointed Vietnam President Truong Tan Sang who will visit the Philippines later this month. ...

Ombudsman overspent by P13M in 2010: CoA.
October 13, 2011... Byline: Noemi M. Gonzales THE OFFICE of the Ombudsman overspent by about P13 million for the purchase of vehicles and supplies in 2010, state auditors said. The Commission on Audit (CoA) said in a report that the anti-graft body spent more...

Laws questioned.
October 13, 2011... FARMER AND militant groups yesterday filed a petition at the Supreme Court seeking to declare laws that created an economic zone in Aurora province as unconstitutional. About 200 farmers and fisherfolk claimed that Republic Act (RA) 94940 or the...

Power-off muted.
October 13, 2011... MALAYBALAY CITY, BUKIDNON - This city's contribution to the call of the Freedom from Debt Coalition (FDC) for a nationwide 30-minute power-off protest kicked off Tuesday starting at 7:30 p.m. participated in by electric cooperatives and...

Vendors released.
October 13, 2011... CAGAYAN DE ORO - Six kidnapped ambulant vendors from Misamis Oriental have been released by the New People's Army (NPA) after 53 days in captivity. Misamis Oriental Vice-Governor Norris C. Babiera presented the six mattress peddlers in a press...

Campaign launched.
October 13, 2011... ZAMBOANGA CITY - A Mindanao civil society organization has launched an online campaign that seeks to amend the Constitution to support the sub- state proposal of the Bangsamoro people. Norman M. Manalao of the Free Bangsamoro said that his group...

Senate OK's fixed military terms; bill up for enactment.
October 13, 2011... Byline: Rouchelle R. Dinglasan THE SENATE yesterday ratified the bill setting term limits for top military officers, clearing the bill for enactment into law by the President after the House of Representatives approved the same. "During...

Storm weakens; Visayas bears brunt.
October 13, 2011... Byline: Noemi M. Gonzales and Visayas Bureau TROPICAL STORM Ramon weakened yesterday after it made landfall in the Visayas, with the weather bureau expecting it to exit the Philippine area of responsibility tomorrow. The Philippine...

CA confirms Mar Roxas.
October 13, 2011... Byline: Rouchelle R. Dinglasan TRANSPORTATION SECRETARY Manuel "Mar" A. Roxas II yesterday obtained the nod of the Commission on Appointments (CA) during its last meeting before Congress goes on a four-week break starting next week. ...

Arroyo may need medical treatment abroad.
October 13, 2011... Byline: Noemi M. Gonzales FORMER PRESIDENT now Pampanga Rep. Gloria Macapagal-Arroyo (2nd district) may need medical treatment abroad given the lack of specialists to look after her case, her husband said yesterday. "Unfortunately, yes,...

Senate body eyeing charges in chopper deal.
October 13, 2011... Byline: Rouchelle R. Dinglasan THE SENATE will recommend the filing of charges against persons involved in the questionable purchase of used helicopters by the Philippine National Police (PNP), a senator said yesterday. Senator Teofisto L....

No hero's burial for former leader: Aquino.
October 13, 2011... Byline: Johanna Paola D. Poblete A HERO'S burial for the former dictator Ferdinand E. Marcos has been ruled out given issues during his term that remains unresolved, President Benigno S. C. Aquino III said yesterday. "I will not, I am...

Senate to probe firearm policy in official's case.
October 13, 2011... Byline: Rouchelle R. Dinglasan THE SENATE will look into the policy of issuing firearm license in light of a case involving the staff of a Palace adviser. Senate Resolution 622 filed by Senator Miriam Defensor-Santiago seeks to look into...

Aquino backing militia deployment.
October 13, 2011... Byline: Johanna Paola D. Poblete PRESIDENT BENIGNO S.C. Aquino III is backing the deployment of militias to beef up security on mining activities, even as interest among foreign investors remains in the sector. Mr. Aquino confirmed an...

Economic Indicators.
October 13, 2011... Byline: Carmina Angelica C. Valeroso Producer prices of key commodities in the manufacturing sector rose slightly in August from a year ago due mainly to higher crude oil prices in the world market. Data from the National Statistics Office...

Gov't cuts growth outlook (New targets announced; P72.11-B stimulus.
October 13, 2011... Byline: Diane Claire J. Jiao and Johanna Paola D. Poblete GROWTH FORECASTS for this year and the next have been lowered by the government, which yesterday also announced a multibillion-peso stimulus plan it said was needed in the face of...

AboitizPower CEO named Entrepreneur of the Year (Ernst & Young,.
October 13, 2011... ERRAMON I. ABOITIZ, president and chief executive officer (CEO) of AboitizPower Corp., was named the Entrepreneur Of The Year Philippines 2011 in an awards banquet held last night at the Makati Shangri-La Hotel. Mr. Aboitiz was recognized for...

PPP benefits to be delayed; first deal finalized in January.
October 13, 2011... NO ECONOMIC BOOST can be expected this year from government's centerpiece public-private-partnership (PPP) program, as President Benigno S.C. Aquino III yesterday said the contract for the first project will be awarded only in January 2012. ...

Gov't readies strategy for industries.
October 13, 2011... Byline: Eliza J. Diaz A STRATEGY is being readied to help big firms as well as small- and medium-scale enterprises (SME) thrive amid challenging market conditions, the government's Trade chief said yesterday at the start of the three-day 37th...

Popular Economics.
October 13, 2011... Byline: Daniel Anne Nepomuceno-Rodriguez IN ECOLOGY, those species that are not tough enough are often left behind while those who are fit and are able to adapt to drastic changes in the ecosystem survive. This is also true in the world of...

SPECIAL REPORT: Philippine Economic Scenarios 2011.
October 12, 2011... Byline: Eliza J. Diaz TROUBLES IN the West have revealed valuable lessons in economic and social policy making which many governments appeared to have neglected in pursuit of capital gains. Amid this turmoil, local experts say the...

SPECIAL REPORT: Philippine Economic Scenarios 2011.
October 12, 2011... Byline: Aubrey E. Barrameda Benjamin E. Diokno Professor, School of Economics,University of the Philippines With the political unrest in the Middle East and North Africa remaining unresolved, the debt crisis in the euro zone, the...

SPECIAL REPORT: Philippine Economic Scenarios 2011.
October 12, 2011... Byline: Franz Jonathan G. de la Fuente Emmanuel A. Leyco Professor Asian Institute of Management THE PHILIPPINES will have to depend on itself to withstand the economic slowdown in the West as Asia does not provide enough of a...

SPECIAL REPORT: Philippine Economic Scenarios 2011.
October 12, 2011... The BusinessWorld Philippine Economic Scenarios 2011, the second in a series of fora to take a closer look at events shaping the economy in light of global developments, again brought together editors and reporters of BusinessWorld to listen and...

SPECIAL REPORT: Philippine Economic Scenarios 2011.
October 12, 2011... Byline: Ann Rozainne R. Gregorio Marcelo E. Ayes Head, Treasury Group Financial Institution Management Division Rizal Commercial Banking Corp. THE PHILIPPINES will withstand another global economic slowdown, but it will not be immune...

SPECIAL REPORT: Philippine Economic Scenarios 2011.
October 12, 2011... Byline: Noemi M. Gonzales Romulo Emmanuel M. Miral, Jr. Acting Director Congressional Policy and Budget Research Department DISMAL STATE spending has been blamed for the low first-semester growth, but it is a trade-off the country...

GIVE AND GO.
October 12, 2011... Byline: Michael Angelo S. Murillo Two years ago forward Japeth Aguilar created a stir in the Philippine Basketball Association after he refused to play for the team that drafted him no. 1 in the rookie draft that year. Citing a "change of...

COURTSIDE.
October 12, 2011... Byline: Anthony L. Cuaycong Even at his level best, a win over the weekend would have been a long shot for Tiger Woods. He was making his first-ever Falls Series appearance, on a course he had not yet negotiated in competition, and after...

Carat introduces iProspect to the Philippines.
October 12, 2011... CARAT PHILIPPINES recently introduced iProspect as its new digital marketing arm. iProspect is made up of a team of digital experts with search marketing at its core that connects relevant consumers to your brand. Just like Carat,...

Housing developer meet set.
October 12, 2011... THE SUBDIVISION and Housing Developers Association (SHDA), in partnership with government agencies in the housing sector, namely the Home Development Mutual Fund (Pag-IBIG Fund), Land Registration Authority, and the Housing and Urban Development...

Schneider Electric gets 'Class A' accreditation.
October 12, 2011... SCHNEIDER ELECTRIC (SE), a global specialist in energy management, was recently awarded Class A Energy Service Company (ESCO) accreditation by the Department of Energy (DoE), through the Energy Utilization Management Bureau. An ESCO is a...

CONSUMER GUIDE.
October 12, 2011... New Summit Circle Hotel in Cebu presented FOR CEBU VISITORS, Summit Circle Hotel, formerly known as Cebu Midtown Hotel, is the ideal stopover for those who like their visits hassle-free without sacrificing comfort. The renovation and...

Freedom of expression.
October 12, 2011... Byline: Sam L. Marcelo Let's get it out of the way: yes, Martin Honasan is the son of Senator Gregorio Honasan and, yes, he is the husband of singer-songwriter Barbie Almalbis. When he began his artistic career with photorealistic...

BRIEFS.
October 12, 2011... Lecture scheduled THE JAIME V. ONGPIN Institute of Business and Government Fund and the Ateneo de Manila University will be holding the Jaime V. Ongpin 10th Annual Lecture at the Veritas Room on Oct. 18 at the Ateneo Professional Schools,...

Merger nears completion.
October 12, 2011... Byline: Ann Rozainne R. Gregorio THE MERGER of Philippine National Bank (PNB) and Allied Banking Corp. (Allied Bank), both controlled by taipan Lucio C. Tan, takes a step closer to completion after the two inked an agreement that will address...

ONSTAGE.
October 12, 2011... Byline: Juan Antonio Lanuza The 2012 Hong Kong Arts Festival schedule of performances is out. Advance bookings by either fax, the Internet or post will end on Nov. 25. Choose which shows/performances you want to attend and book in advance...

Lending hits 27-month high; M3 rises steadily.
October 12, 2011... Byline: Neil Jerome C. Morales BANK LENDING surged to a 27-month high in August as companies continued to tap banks for financing, according to the Bangko Sentral ng Pilipinas (BSP). Liquidity, meanwhile, grew in step with credit growth,...

Bank of Commerce projects lower net income for 2011.
October 12, 2011... Byline: Ann Rozainne R. Gregorio SAN MIGUEL Corp.'s banking arm, the Bank of Commerce, said net income is expected to fall by 11% this year as it has become more careful in giving out loans in light of the soured loans that have burdened its...

Repurchase plan to have no impact on rating - Fitch.
October 12, 2011... Byline: Diane Claire J. Jiao THE GOVERNMENT'S planned $1.5-billion buyback of outstanding global bonds will have no impact on the country's BB+ credit rating, debt watcher Fitch Ratings said yesterday. "The Republic's target is to spend...

Peso loses 11 centavos amid profit taking.
October 12, 2011... Byline: Ann Rozainne R. Gregorio THE PESO retreated against the dollar yesterday after investors took profits from the local unit's recent uptrend. It dropped 11 centavos to settle at P43.47 per dollar against its P43.36-per-dollar close...

PSEi rises on leaders' vow to address crisis.
October 12, 2011... Byline: Franz Jonathan G. de la Fuente THE STOCK market extended its gain and closed higher on Tuesday after euro zone leaders vowed measures to contain the single-currency region's debt woes. The Philippine Stock Exchange index (PSEi)...

AD LIB.
October 12, 2011... Byline: Greg B. Macabenta The furor over the assertion of US Ambassador to the Philippines Harry Thomas that 40% of male foreign visitors are sex tourists reminds me of the newspaper headline that declared, "50% of the people in Congress are...

GRASSROOTS & GOVERNANCE.
October 12, 2011... Byline: Teresa S. Abesamis After the recent flip-flop of the Supreme Court on the FASAP decision, its most recent such case, following the Dinagat, Keppel, Apo Fruits, and League of Cities flip-flop decisions, we are left to wonder where we...

CORE.
October 12, 2011... Byline: Benjamin E. Diokno Part I The Aquino administration's centerpiece public-private partnership (PPP) program will have to undergo a major makeover. Why am I not surprised? It was unveiled with much fanfare during Mr. Aquino's first...

COMMENTARY.
October 12, 2011... Byline: Winston A. Marbella "In the end, Steve Jobs left the world to his own devices," the Associated Press began a day-after story. A dozen words - that's all it took to sum up a life's work. Steve Jobs would not have wanted it any other...

SHOPTALK.
October 12, 2011... Delayed perks Socialized housing developers are reportedly disappointed over the delayed release of tax incentives by the Bureau of Internal Revenue, saying that withholding the perks may have a negative impact on investments in the sector....

Pleasure with high performance.
October 12, 2011... Byline: Tito F. Hermoso HANDSHAKE: this has become a buzzword in automotive design language. It is meant to be the signature ambience that welcomes a motorist into the realm of experiencing a marque's brand values. It is part ergonomics, part...

Cirtek to brave stock market next month for listing debut.
October 12, 2011... Byline: Franz Jonathan G. de la Fuente CHIPMAKER CIRTEK Holdings Philippines Corp. plans to hold its initial public offering (IPO) next month, upbeat that Asian growth amid a downturn in its main markets in the West will continue to lure...

OceanaGold aims to start drilling in Didipio by Q4.
October 12, 2011... Byline: Louella D. Desiderio AUSTRALIAN MINER OceanaGold Corp. is looking at starting drilling at its Didipio mine in Nueva Vizcaya this quarter, an official said. "We hope to start drilling at Didipio before the end of the year and we're...

SEC bracing for court ruling on equity caps.
October 12, 2011... Byline: Cliff Harvey C. Venzon THE SECURITIES and Exchange Commission (SEC) is holding off from implementing the Supreme Court's recent interpretation of foreign equity caps until the judiciary issues a final decision, an official yesterday...

Boulevard Holdings loses investor for Cavite resort.
October 12, 2011... Byline: Franz Jonathan G. de la Fuente BOULEVARD HOLDINGS, Inc. has lost a Korean investor that would have developed and operated the Filipino firm's property in Ternate, Cavite, into a golf and spa resort. Resom Resort Co., Ltd. had...

Carbon credit firm eyes trading beyond 2012.
October 12, 2011... Byline: Emilia Narni J. David RENEWABLE ENERGY firm PhilCarbon, Inc. will register its hydropower projects under a scheme that will allow it to trade carbon credits in the European market beyond 2012, the company said in a statement...

NG debt inches up by end-July.
October 12, 2011... Byline: Diane Claire J. Jiao NATIONAL GOVERNMENT (NG) debt rose as of the end of July from the same period last year, fueled by an increase in domestic loans, data the Bureau of the Treasury released on Tuesday showed. The government's...

Warnings raised as storm nears land; Luzon to feel impact.
October 12, 2011... STORM WARNINGS have been raised over Eastern Visayas and Northeastern Mindanao as tropical storm Ramon (international name: Banyan) is expected to hit land today, the state weather bureau said yesterday, with the forecast track seen nearing...

Most of abused children abandoned, neglected.
October 12, 2011... Byline: Aubrey E. Barrameda OVER HALF of the number of abused children in the country are either abandoned or neglected, the National Statistical Coordination Board (NSCB) said in an article posted on its Web site yesterday. "By category,...

Recall of ruling on flight stewards to correct flaws.
October 12, 2011... THE RECALL of a case favoring dismissed flight attendants at the Philippines Airlines (PAL) was made to correct a flaw in internal processes, the Supreme Court spokesman said yesterday, even as the full court has prioritized to resolve the...

House ratifies measure proposing term limits for top military officers.
October 12, 2011... Byline: Noemi M. Gonzales THE HOUSE of Representatives on Tuesday ratified the measure prescribing a fixed term for the chief of the Armed Forces of the Philippines (AFP). The bill, which was approved by the bicameral conference committee...

Palace bucks rebel immunity demand.
October 12, 2011... Byline: Johanna Paola D. Poblete THE PALACE has rejected a proposal of communists to review the list of individuals that will be covered by a safe conduct pass deal in line with the peace process, a Malacanang aide said yesterday. ...

Oil companies set mixed price adjustments.
October 12, 2011... Byline: Emilia Narni J. David SEVERAL OIL companies yesterday implemented mixed adjustments in fuel prices. Prices of regular gasoline were cut by P0.75 per liter, diesel by P0.40/liter, and kerosene by P0.30/liter. Those that...

Higher local revenue share sought.(Conference notes)
October 12, 2011... Byline: Antonio Siegfrid O. Alegado CHANGES TO the Local Government Code (LGC) should result in a higher revenue share of local officials, said participants in a conference that commemorated the two-decade-old law. Former Senate president...

No criminal liability in firearm case.
October 12, 2011... Byline: Johanna Paola D. Poblete MALACANANG IS standing by an adviser whose vehicle, which figured in an accident, was found with a firearm. Presidential Spokesperson Edwin Lacierda yesterday said that Presidential Adviser for Political...

'No guarantee' on limiting Charter change talks to economic issues.
October 12, 2011... Byline: Noemi M. Gonzales RESTRICTING DISCUSSIONS on changes to the Constitution to economic provisions may be difficult to impose once the formal process starts, a lawmaker said yesterday. "There is no guarantee [that only economic...

High court backs Palace on former official.
October 12, 2011... THE SUPREME COURT has affirmed a Malacanang decision to ban from public office a former lake regulatory official who awarded fish pens at the Laguna de Bay without the required bidding. The high court's Third Division, in a ruling promulgated...

LGUs pressed to align with state plans.
October 12, 2011... Byline: Antonio Siegfrid O. Alegado THE GOVERNMENT has proposed an additional P250 million next year for a fund designed to encourage local governments to align their plans with Millennium Development Goals and other national priorities, the...

Gov't mulls World Bank loan for typhoon rehabilitation.
October 12, 2011... Byline: Diane Claire J. Jiao THE GOVERNMENT is considering the possibility of tapping the $500- million calamity credit line offered by the World Bank, in the wake of widespread damage caused by typhoons Pedring and Quiel (international names...