BusinessWorld (Philippines) articles from October 2011, page 7

BusinessWorld (Philippines) archives from October 2011

Barbosa, Chinese GM share Indonesian Open chess lead.
October 19, 2011... Byline: Marlon Bernardino CHINESE GRANDMASTER (GM) Wang Yue toppled French GM Vladislav Tkachiev to share the lead with Filipino GM Oliver Barbosa in the 6th round of the ongoing Indonesia Open Chess Championship yesterday at the Lamerieden...

Cebu organic fair, confab set.
October 19, 2011... THE CEBU CHAMBER of Commerce and Industry (CCCI), in partnership with the Department of Agriculture, Cebu Coalition for Food Security and AFOS Foundation, converged to hold the first Cebu Going Organic (Cebu GO) Fair and Conference. To be...

Book bares inside stories on local advertising.
October 19, 2011... HOW WAS Ginebra San Miguel's blockbuster ad campaign, "Inumin ng Tunay na Lalaki," created? How did Milo topple Ovaltine from market leadership? Why was Nino Muhlach's classic "Grow Tall Little Man" campaign so short- lived? Why is a visit to...

PEOPLE.
October 19, 2011... Convergys names new managing director CONVERGYS CORP. announces the appointment of Marife Zamora to managing director for Asia-Pacific, Europe, Middle East, and Africa (EMEA) for Convergys' Customer Management business. Previously, Ms....

CONSUMER GUIDE.
October 19, 2011... Epson Philippines launches two printers EPSON PHILIPPINES Corp. recently unveiled two revolutionary and innovative printers that will address business and industry concerns on quality and total printing costs. With the limited options in...

BRIEFS.
October 19, 2011... Seminar scheduled CITIZEN TRUTH Verifier Academy, a subsidiary of Truth Verifier Systems, Inc. (TVSI), will be conducting a seminar entitled Security Management Techniques on Nov. 15, from 8 a.m. to 5 p.m. at the Ateneo Professional Schools...

ONSTAGE.
October 19, 2011... Byline: Juan Antonio Lanuza It is with sadness that I report that Lisa Macuja-Elizalde has decided to start her "Swan Song Series 2011." Over the next three years she will be bidding farewell to her roles in Swan Lake, Romeo and Juliet,...

Basketball steals one from art.
October 19, 2011... Byline: Sam L. Marcelo In a stroke of bad luck, the 4th Ateneo Art Auction was held on Oct. 1, the same day as the rescheduled basketball game between Ateneo de Manila University and Far Eastern University (FEU). Moved to a later date because...

Half-man, half-amazing.
October 19, 2011... Byline: Sam L. Marcelo Doomsayers believe that the world will end in 2012. A book that fell into Isa Lorenzo's hands describes the extinction event as though it were a work of science fiction, a "sequel to the Star Wars Trilogy yet to be...

ARTS & CULTURE.
October 19, 2011... Reunion show MO-SPACE GALLERY features Oscar Floirendo, Claro Ramirez and Eric Zamuco in Cosmetic Order, a group exhibition of installations. The three artists who are all graduates of the University of the Philippines College of Fine Arts...

AD LIB.
October 19, 2011... Byline: Greg B. Macabenta To many Americans and Europeans, D-Day, the 6th of June, is of major importance in world history - important enough to bring to the continent droves of tourists, mainly veterans of World War II who fought in the...

CORE.
October 19, 2011... Byline: Benjamin E. Diokno Recent fiscal numbers - the August expenditure report and the September tax collection performance by the Bureau of Customs and the Bureau of Internal Revenue - and the Aquino administration's last-minute attempt to...

FEEDBACK.
October 19, 2011... We write with regard to the article entitled "SC junks business park operator's tax appeal" published in your issue of Sept. 22, 2011. First of all, the discussion in the decision of the Supreme Court was limited to the issue of the...

Local BMW distributor claims segment leadership.
October 19, 2011... ASIAN CARMAKERS Corporation (ACC) last week laid claim to being the country's top premium car distributor with a 32% share of the market. Sales topped 560 BMWs as of September, the company announced, up 8% from a year earlier and due...

Extending the Pajero cult.
October 19, 2011... Byline: Tito F. Hermoso IN THE EARLY '70s, Mitsubishi exploited the image of the Lancer's rallye winning ways, casting it as being more than just another Japanese compact family sedan. Mitsubishi dared to tie motorsports success to a family...

Law postponing polls in Muslim region constitutional: SC (Petitioners.
October 19, 2011... A LAW that deferred polls in the autonomous Muslim region and allowed the appointment of officers-in-charge (OIC) to replace incumbent officials is constitutional, the Supreme Court (SC) has ruled. Proponents of the petition that challenged...

Treasury rejects bids for 91-, 182-day bills.
October 19, 2011... Byline: Ann Rozainne R. Gregorio THE GOVERNMENT sold only one-year Treasury bills yesterday after market players posted too high bids for the three- and six-month debt papers. "We were willing to align our rates with the secondary market...

Central bank extends relief to typhoon Mina-hit banks.
October 19, 2011... Byline: Neil Jerome C. Morales BANKS LOCATED in areas hit by typhoon "Mina" were granted temporary regulatory and rediscounting relief by the Bangko Sentral ng Pilipinas (BSP). This will allow the banks to give assistance to their clients,...

Aid extended to Luzon areas.
October 19, 2011... Byline: Antonio Siegfrid O. Alegado SAN SIMON, PAMPANGA - The European Union (EU) has extended to Central and Northern Luzon programs that will enjoin communities in disaster risk reduction management activities, an official said yesterday....

Rules to resolve conflicts in land reform cases.
October 19, 2011... Byline: Louella D. Desiderio THE DEPARTMENT of Agrarian Reform (DAR) has issued rules to resolve conflicts in areas covered by land reform. Rules under Administrative Order 9 that were published yesterday seek to resolve situations when...

Philippines expected to feel China's slowdown in 2013.
October 19, 2011... SLOWING GROWTH in China will have noticeable effect on the Philippines' own economic expansion in 2013, a senior HSBC analyst said in a press briefing on Tuesday. "We see that China's growth will continue to decelerate in 2013. We see Asia...

EQUILIBRIUM.
October 19, 2011... Byline: Dennis Botman Disparities have recently started to decline between countries as the global financial crisis has led to stagnant real incomes in advanced economies, while most developing countries and emerging markets continued to...

Debt vehicles ordered to submit asset inventory.
October 19, 2011... Byline: Franz Jonathan G. de la Fuente SPECIAL PURPOSE vehicles (SPVs), or firms set up to buy and sell unpaid debt, are now required to submit an inventory of their nonperforming assets by Dec. 15 as corporate regulators aim to tighten...

Asian firms report drop in fraud.
October 19, 2011... Byline: Kathleen A. Martin SOUTHEAST ASIAN executives observed less cases of business fraud this year, mirroring a global trend according to an annual survey by a risk management consultancy. But business leaders are nevertheless...

Companies told to step up CSR amid protests.
October 19, 2011... Byline: Cliff Harvey C. Venzon COMPANIES SHOULD improve their public outreach programs amid worsening sentiments against corporations across the globe, management experts at a forum yesterday said. Corporate social responsibility (CSR)...

Appliance firm acquired.
October 19, 2011... CHINESE APPLIANCE company Haier Group yesterday sealed the deal to acquire Sanyo Philippines, Inc. along with other Sanyo units in Asia. Haier signed an agreement to acquire Sanyo's washing machine and consumer use refrigerator businesses in...

Passenger volumes rise.
October 19, 2011... BUDGET CARRIER Cebu Pacific yesterday reported a 12% rise in passenger volumes for the third quarter over year-ago levels. The airline said it flew 2.8 million from July to September versus 2.5 million in the same period last year. The carrier...

Mine permit transferred.
October 19, 2011... TRANS-ASIA Oil and Energy Development Corp. has assigned its mining permit covering a site in Camarines Norte to Investwell Resources, Inc., a disclosure to the Philippine Stock Exchange yesterday showed. The subject mining permit covers a...

Acquisition plan bared.
October 19, 2011... SYSTEM OPERATOR National Grid Corporation of the Philippines (NGCP) is seeking to acquire more transmission lines, the company said in a statement yesterday, pointing to a resolution of the Energy Regulatory Commission "which adopts amended...

Nestle likely to ramp up expansion.
October 19, 2011... Byline: Cliff Harvey C. Venzon NESTLE PHILIPPINES, Inc. could build another manufacturing plant on its 27-hectare property in Batangas next year, an official yesterday said. Construction for the additional facility could start after a...

Oil companies raise pump prices.
October 19, 2011... Byline: Emilia Narni J. David OIL COMPANIES yesterday adjusted pump prices upwards after implementing a series of price cuts. Chevron Philippines, Inc., Petron Corp., Seaoil Philippines, Inc., Pilipinas Shell Petroleum Corp. and Eastern...

Philippines urged to simplify tax on financial instruments.
October 19, 2011... Byline: Diane Claire J. Jiao FINANCE OFFICIALS of the Association of Southeast Asian Nations (ASEAN) have urged the country to simplify its taxation on financial instruments in order to attract more investments. This will also be a prelude...

Peso sinks on China, EU news.
October 19, 2011... Byline: Ann Rozainne R. Gregorio THE PESO tumbled against the dollar yesterday after German officials doused expectations of a speedy solution to the euro zone debt crisis while China reported disappointing growth data for the third quarter....

PSEi falls on German official's comments.
October 19, 2011... Byline: Franz Jonathan G. de la Fuente SELLING, after a German official warned against too high expectations of a resolution to the euro zone debt crisis, snapped the Philippine Stock Exchange index's (PSEi) eight-day climb yesterday. The...

Aquino vows punitive action against culprits in priest slay.
October 19, 2011... Byline: Johanna Paola D. Poblete and Amilbahar S. Mawallil PRESIDENT BENIGNO S. C. Aquino III yesterday vowed punitive action over the slaying of an Italian priest in Mindanao, even as Moro rebels condemned the murder. Fausto Tentorio, 59,...

Campaign vs extortion cited.
October 19, 2011... Byline: Carmelito Q. Francisco DAVAO CITY - The police, military and local government units must have closer coordination in the campaign against extortion as well as prevent the repetition of attacks on mining sites in Surigao del Norte, a...

Poll irregularities confirmed; involvement denied.
October 19, 2011... Byline: Rouchelle R. Dinglasan WITNESSES WHO appeared at the Senate Blue Ribbon yesterday confirmed the existence of irregularities during the 2004 elections but denied involvement in activities that favored candidates of the past...

Military suffers heavy casualty in clash (... as issue is raised with.
October 19, 2011... Byline: AFP, Amilbahar S. Mawallil with Antonio Siegfrid O. Alegado ZAMBOANGA - At least 12 soldiers were killed, 11 others wounded and 10 missing in action in a clash with the country's largest Moro guerrilla group yesterday, the military...

Sandiganbayan lifts arrest warrant on Dichaves.
October 19, 2011... Byline: Noemi M. Gonzales THE SANDIGANBAYAN has recalled the warrant of arrest issued against a businessman in connection with his plunder case. "The warrant of arrest was issued even when Dichaves was denied a complete preliminary...

Security of tenure bill pushed.
October 19, 2011... Byline: Noemi M. Gonzales THE HOUSE committee on labor and employment is seeking swift approval of a measure that will provide stricter rules on subcontracting. This after the panel yesterday conducted a public hearing on the Supreme...

Less construction recorded in second quarter.
October 19, 2011... NEW CONSTRUCTION projects dipped in the second quarter - in line with a general economic slowdown seen that period - even as value rose by more than a tenth, the National Statistics Office (NSO) said in a statement on Tuesday, citing preliminary...

Auto sales dip by September - industry.
October 19, 2011... CAR SALES fell as of September amid struggling global economy, the Association of Vehicle Importers and Distributors, Inc. (AVID) said in a press statement on Tuesday. Year-to-date sales dipped 1.68% to 18,090 units from 18,400 in the same...

Economic Indicators.
October 19, 2011... Byline: Thomas David F. Alejandria Retail prices of construction materials in Metro Manila increased in September from a year ago as the fast turnover of residential and office units created a widespread need for renovation. Data released...

Gov't not taking back Petron refinery.
October 19, 2011... Byline: Johanna Paola D. Poblete PRESIDENT Benigno S. C. Aquino III has rejected Petron Corp. chairman Ramon S. Ang's offer for government to repurchase the oil firm's refinery in Bataan, arguing that it would lead to inefficiency and...

Manila, Bangkok agree on cigarette tax reforms.
October 19, 2011... Byline: Eliza J. Diaz THE PHILIPPINES and Thailand have agreed on policy reforms required by the World Trade Organization (WTO) regarding a trade dispute, won by Manila, involving Bangkok's cigarette tariffs. "The Philippines and Thailand...

IMF says limiting PPP project liabilities crucial.
October 19, 2011... Byline: Judy T. Gulane THE MAIN CHALLENGE for the Aquino government is not to bid out projects under the private-public partnership (PPP) scheme as fast as it can, but to limit or avoid state liabilities once these projects start operating,...

BIR preparing unified rules for gov't offerings.
October 19, 2011... Byline: Diane Claire J. Jiao THE BUREAU of Internal Revenue (BIR) is readying the release of a unified set of guidelines setting the tax liability of all Treasury instruments and transactions, especially given the controversy surrounding the...

GSIS starts accepting bids (Timetable set for sale of banking unit).
October 18, 2011... Byline: Ann Rozainne R. Gregorio STATE-RUN Government Service Insurance System (GSIS) has announced that it will start collecting bids for its banking arm, as it sets the timetable for the scheduled sale before the end of the year. In a...

Local currency closes stronger against dollar.
October 18, 2011... Byline: Ann Rozainne R. Gregorio THE PESO firmed up against the dollar for the fourth straight trading day lifted by market players' heightened risk appetite on optimism that euro zone leaders would come up with a solution to the debt crisis...

PSEi extends rally on EU debt meeting.
October 18, 2011... Byline: Franz Jonathan G. de la Fuente THE STOCK market closed higher for the eighth straight trading day on Monday, tracking a similar rally abroad after positive US economic data were released and G20 finance ministers pledged to solve the...

Rates of Treasury bills expected to rise.
October 18, 2011... Byline: Ann Rozainn R. Gregorio RATES of Treasury bills set for auction today are expected to spike by as much as 100 basis points given investors' appetite for long-tenored securities given a manageable inflation moving forward, and as the...

COURTSIDE.
October 18, 2011... Byline: Anthony L. Cuaycong Greg Norman should just shut up. As captain of the International squad to the 2011 Presidents Cup, he would do well not to give the enemy ammunition that can then be used against him. He may be right when he argues...

GIVE AND GO.
October 18, 2011... Byline: Michael Angelo S. Murillo I have to hand it to Barako Bull Energy rookie Dylan Ababou for coming out the way he did in his debut Philippine Basketball Association game last week. Found himself needing to prove his worth, the former...

Social enterprise confab set.
October 18, 2011... THE CIVIL society and business sectors will sit down to examine different social enterprise models during a conference at InterContinental Hotel in Makati City on Oct. 20 and 21. The Peace and Equity Foundation (PEF) is spearheading "Social...

EastWest Bank launches bankwide promo.
October 18, 2011... EASTWEST BANK marked another milestone as it recently bared its grandest bankwide promo offering to date - the Dream Big Win Big Raffle Promo. The launch of this promo likewise ushers in a new era for EastWest Bank as it officially introduces...

Holiday Inn Manila bares offerings.
October 18, 2011... HOLIDAY INN Manila Galleria has recently joined the largest property refresh in the hospitality industry to provide guests modern facilities, excellent service, value for money and an experience where they can truly be themselves. The stay...

CONSUMER GUIDE.
October 18, 2011... Sony Philippines presents Christmas campaign SONY PHILIPPINES kicked off its celebration of the yuletide season as it launches love.Christmas, a campaign which acknowledges this simple but timeless and strong human emotion, which is...

Canon introduces PIXMA Ink Efficient E500.
October 18, 2011... CANON, A worldwide leader in imaging solutions, recently launched its first Ink Efficient printer, dubbed as the PIXMA Ink Efficient E500. As the term implies, the ink efficient printer is able to deliver the lowest cost per print for plain...

BRIEFS.
October 18, 2011... Seminar slated NATURAL FOOD for general wellness and for therapy of chronic and degenerative diseases will be tackled during the Natural Food for Health and Healing Seminar slated on Oct. 23, 1 p.m. to 5 p.m. at the Megatrade Function Room B,...

Cable channel, retailer release limited T-shirt.
October 18, 2011... Byline: Jeffrey O. Valisno Cable network Discovery Channel has joined forces with local clothing brand Regatta to come up with a line of limited edition T-shirts. The T-shirts feature the channel's tag line "The World is Just Awesome"...

Raymond Red film sweeps critics awards.
October 18, 2011... Byline: Jeffrey O. Valisno Raymond Red's tragic tale of a deranged hijacker pushed to his limits dominated the annual awards of the film desk of the Young Critics' Circle for 2010. Himpapawid (Manila Skies) won five awards, including...

TO TAKE A STAND.
October 18, 2011... Byline: Oscar P. Lagman, Jr. After he was sworn in as Chief Justice of the Supreme Court, Renato Corona said, "My heart is in the right place and its loyalty is to the Constitution alone. Only by the standard of this forthright sworn fidelity...

FENCE SITTER.
October 18, 2011... Byline: Antonio R. Samson Anyone giving a lecture or briefing to management without the aid of a PowerPoint projected from a notebook (and now tablet) is automatically considered unprepared and therefore undeserving of attention which can now...

FRAMEWORK.
October 18, 2011... Byline: Elfren Sicangco Cruz October and November being the usual corporate planning period for most firms, it is advisable to again review the 10 different "schools" of strategy formation as summarized by two management gurus, Henry...

MAP INSIGHTS.
October 18, 2011... Byline: Felife L. Gozon The Kapuso Factor: Now, let me share with you the Kapuso way of addressing the challenges of an increasingly global community - one that is constantly connected and has transcended all barriers of geography, time, and...

Senate Starts to Tackle Bill Seeking to Protect Data Privacy
October 18, 2011... Byline: Rouchelle R. Dinglasan THE SENATE has started deliberations on a measure seeking the protection against unauthorized disclosure of data amid advances in technology. The proposed Data Privacy Act of 2011 under Senate Bill 2965,...

Gov't amenable to putting off open access to December 26.
October 18, 2011... Byline: Emilia Narni J. David THE GOVERNMENT is amenable to the postponement of open access if ordered by regulators but noted the delay should not last more than a year, an Energy official said. The Energy department, however, is still...

Banks seek SC stay order on bond tax.
October 18, 2011... A GROUP of eight banks is seeking a stay order from the Supreme Court to stop the Bureau of Internal Revenue from collecting a 20% final withholding tax (FWT) from the Poverty Eradication and Alleviation Certificates (PEACe) bonds, set to mature...

DILG bans imposing fees for use of roads at local level.
October 18, 2011... Byline: Antonio Siegfrid O. Alegado THE DEPARTMENT of Interior and Local Government (DILG) has banned the collection of fees and taxes for the use of roads at the local level. In a memorandum circular signed by Local Government Secretary...

Budget chief hopes for P20-B addition to stimulus package.
October 18, 2011... Byline: Johanna Paola D. Poblete BUDGET SECRETARY Florencio B. Abad yesterday said he is hoping that P20 billion will be added to the stimulus package approved by President Benigno S. C. Aquino III last week in a bid to further ramp up...

Agriculture department to construct five triple A slaughterhouses in.
October 18, 2011... Byline: Louella D. Desiderio THE AGRICULTURE department is spending P180 million for the construction of five triple A slaughterhouses next year, in order to allow the private sector to take advantage of export opportunities, Agriculture...

Oil companies warn against gov't intervention.
October 18, 2011... Byline: Emilia Narni J. David MAJOR OIL companies warned the government against intervention because of higher subsidies and fuel cost. Other oil companies are also enjoined to open their financial books to the public. The Philippine...

Calamity loan approved.
October 18, 2011... THE HOME Development Mutual Fund (Pag-IBIG Fund) has approved the release of around P601 million worth of calamity loans to its members affected by typhoons Pedring and Quiel (international code names: Nesat and Nalgae). Pag-IBIG has so far...

Aid for palay farmers OK'd.
October 18, 2011... THE DEPARTMENT of Agriculture (DA) has allocated P130 million for the distribution of fertilizers to be used in replanting of palay by farmers whose crops were damaged by typhoons Pedring and Quiel, a Cabinet official said yesterday. Apart from...

Koreans at Manila FAME.
October 18, 2011... SOUTH KOREAN officials urged Philippine exporters at the Manila FAME International to tap the East Asian market, noting superior product quality that could rival its Southeast Asian peers, the foreign trade mission said yesterday. The South...

LET'S TALK TAX.
October 18, 2011... Byline: Cristina Panlilio-Ong Of late, the Bureau of Internal Revenue (BIR) has been quite aggressive in its collection efforts in an attempt to make a significant dent in the country's budget deficit which hit a record high of P314 billion...

Hyundai car sales decline by 4% as of end-September.
October 18, 2011... Byline: Eliza J. Diaz THE LOCAL distributor of Hyundai Motor Company, Ltd. reported a 4% drop in sales volumes for January to September over year-ago levels after earlier citing tight inventories at its South Korean headquarters. Hyundai...

PLDT in talks to give up unit's spectrum.
October 18, 2011... Byline: Kathleen A. Martin PHILIPPINE LONG Distance Telephone Co. (PLDT) yesterday said it was in talks with regulators for the possible divestment of its frequencies to gain approval for its planned takeover of Digital Telecommunications...

Property firm postpones listing debut to 2012.
October 18, 2011... Byline: Franz Jonathan G. de la Fuente PROPERTY DEVELOPER ACM Landholdings, Inc. has postponed its listing debut to late 2012, citing unfavorable economic conditions brought about by fears of a global recession. "We are postponing our IPO...

PAL flight attendants file appeal with high court.
October 18, 2011... Byline: Nathaniel R. Melican THE FLIGHT Attendants' and Stewards' Association of the Philippines (FASAP) has lodged a petition at the Supreme Court seeking to reinstate a decision which could have compelled flag carrier Philippine Airlines...

AGP Industrial gets option to take over Isabela mine.
October 18, 2011... Byline: Franz Jonathan G. de la Fuente ENGINEERING AND construction firm AGP Industrial Corp. has been retained to manage a northern Luzon nickel mine and was further given an option to buy into the project, a disclosure to the local bourse...

Splash mulls int'l expansion.
October 18, 2011... Byline: Cliff Harvey C. Venzon PERSONAL CARE products manufacturer Splash Corp. is mulling whether to put up factories abroad, the company said in a disclosure to the Philippine Stock Exchange yesterday. "The Middle East and Africa do...

More sushi outlets eyed for Mindanao.
October 18, 2011... Byline: Carmelito Q. Francisco DAVAO CITY - The firm behind the SumoSam Japanese restaurant chain plans to set up three more restaurants in Mindanao within the next two years, an official said. "We are now negotiating with some...

Quezon City council OK's socialized housing tax.
October 18, 2011... Byline: Antonio Siegfrid O. Alegado PROPERTY OWNERS in Quezon City will soon shoulder a tax that will fund housing projects for the poor under a measure approved yesterday by the city council on third and final reading. The proposed...