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Monday, August 31, 2009 |
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Reyes douses cold water on calls to regulate oil retailers
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By Euan Paulo C. Añonuevo, Reporter
DESPITE mounting calls for regulation of the retail petroleum
sector, Energy Secretary Angelo Reyes stood behind the law giving
oil companies a free hand in setting fuel prices.In a statement, the
Department of Energy (DOE) said Republic Act 8479, or the Downstream
Oil Deregulation Act of 1998 is working for the country and that the
law has created a healthy competitive environment in the industry in
terms of “prices, quality of products and services, and more
importantly, improved availability of access to supply.”
The said legislation was passed over a decade
ago to help spur competition and remove government subsidies at the
pump, which was then controlled l by the so called “Big 3” of
Petron Corp., Pilipinas Shell Petroleum Corp. and Chevron (formerly
Caltex) Philippines Inc.
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Internet boosts SME marketing efforts
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THE Internet has eased the task of bringing products and services to
market for small and medium enterprises (SMEs), according to
pundits.
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Tax effort falls as revenues, imports dip
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THE Philippines’ tax effort fell in the first half of the year
owing to the combined impact of revenue-eroding measures and
declining import demand, the Department of Finance said.
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ING, ATR Kim Eng see brisker economy in 2H
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PHILIPPINE economic growth will accelerate in the third quarter,
according to two foreign financial market players.
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Splash signs up Malaysian firm for distribution deal
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SPLASH Corp. said it forged an agreement with a new distributor that
will fortify its market position in Malaysia.
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Regulator approves City & Land’s borrowing plan
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THE Securities and Exchange Commission (SEC) approved City &
Land Developers Inc.’s plan to borrow money through the issuance
of short-term commercial papers.
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Levi Strauss tempts Indians with denim on credit
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BANGALORE, India: US jeans maker Levi Strauss has begun selling its
denim on credit in India, offering shoppers the chance to buy a $30
pair of its famous trousers in three installments.
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LNG boom to make Australia ‘Middle East of gas’–analysts
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MELBOURNE: Australia is poised to become “the Middle East of
gas” as Asia’s rapidly growing economies queue up to buy its
vast reserves in liquid form, according to analysts.
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Commodity prices diverge amid recovery hopes
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LONDON: The prices of raw materials were mixed last week in cautious
trade despite increased signs of global economic recovery.
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BEYOND
THE BUZZWORDS
By Reylito A.H. Elbo
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Denominator
management: A crumbling toll discount
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MY FRIENDS from way back majority were my classmates in law school
some 25 years ago— often say to me: “Rey, you’re one of the
leading business columnists in the country. What is the secret of
your success?”
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