Business

Globe welcomes the release of the implementing rules and regulations (IRR) of the SIM Registration Act for standard enforcement of the law, a press release from the firm said Monday, December 19.The IRR, crafted by the National Telecommunications Commission in consultation with the telco industry, has also gone through public hearing. It is expected to lay down the SIM registration procedure and guidelines that all public telecommunications entities (PTEs) must follow in creating their respective registration platforms, it said.The IRR is expected to take effect on December 27.In compliance with the law, Globe will launch its online SIM registration platform and start selling new SIMs in deactivated mode. All new SIMs must be registered immediately to enjoy Globe services, whil...

There will be an escalation of fuel prices from December 20 to 26, Unioil Petroleum Philippines Inc. announced Saturday.Diesel is expected to increase by P2.20 to P2.30 per liter and gasoline by P0.40 to P0.50 per liter, it said.Kerosene products are also expected to increase from P1.50 to P1.80 per liter.The Department of Energy (DOE) last week said fuel prices since the start of the year logged net increases of P24.60 per liter for diesel, P13.25 per liter for gasoline, and P19.15 per liter for kerosene products.*

VMC cites the unusual market developments in the sugar industry in the cancellation of its purchase of Asian Alcohol Corp.*Ronnie Baldonado photoVictorias Milling Co. (VMC) in Negros Occidental has called off its purchase of Asian Alcohol Corp. (AAC) from the LT (Lucio Tan) Group Inc. following a mutual agreement.This was disclosed by VMC in a report to the Securities and Exchange Commission (SEC) on Tuesday, December 13.On September 1 the SEC and Philippine Stock Exchange were informed of the signing of a Sale and Purchase Agreement by Tanduay Distillers Inc., a wholly owned subsidiary of LT Group Inc., together with Prior Holdings Inc. and Castelbridge Investment Corp., for VMC’s acquisition of 100 percent of the outstanding capital stock of AAC.However, in view of the re...

Consumers and industrial users can now enjoy the holiday rush as sugar supply in the country has stabilized, with the refineries churning out a substantially higher production than expected, compared to the same period last year, Tatak Kalamay spokesperson, Gerard Joseph Sarrosa, said Monday, December 12.Sugar Regulatory Administration records show that total refined sugar stock stands at 228,000 metric tons for the period of September to November, or 91 percent higher than that of last year’s record at 119,000 MT during the same period, Sarrosa said.Tatak Kalamay, an aggrupation of sugar industry stakeholders, also lauded the decision of the President Ferdinand Marcos Jr. and the SRA to contain the importation program at 150,000 MT only instead of the earlier sugar order that pegg...

Another hefty rollback of fuel prices is expected starting Tuesday, December 13, Unioil Petroleum Philippines announced Saturday.Diesel prices should go down by P3.30 to P3.40 per liter and gasoline by P1.80 to P1.90 per liter by Tuesday, Unioil said.Oil firms also cut diesel prices by P1.90 per liter, gasoline by P1.95 per liter and kerosene by P1.65 per liter on on December 6.Department of Energy data shows that year-to-date total adjustments for gasoline stand at a net increase of P14.95 per liter, P28 per liter for diesel and P23.55 per liter for kerosene.*

Bago Treasurer Caruso Villaflor Jr. (right) presents to Mayor Nicholas Yulo the trophies given to the city government during the Bureau of Local Government Finance and Regional Association of Treasurers and Assessors in Region VI Inc. recognition rites held in Murcia, Negros Occidental, recently.*Bago PIO photoBago City Mayor Nicholas Yulo lauded the men and women behind the City Treasurer’s Office for their exemplary work as the local government topped the tax and other fees collection efficiency in Western Visayas.Bago bagged three awards during the Bureau of Local Government Finance and Regional Association of Treasurers and Assessors in Region VI Inc. (Regata VI) recognition ceremony held at the Mambukal Resort and Wildlife Sanctuary in Murcia town recently , a press release fr...

The supply of chickens and eggs in Negros Occidental will not be affected by a ban imposed by Gov. Eugenio Jose Lacson to protect the province’s P8 billion poultry industry from the highly pathogenic avian influenza (HPAI).The governor has banned the entry into Negros Occidental of all live domestic and wild birds, ready to lay pullets, and their products, including table eggs and manure, from Luzon, Mindanao, Panay and Guimaras.HPAI cases have been detected in Capiz and Iloilo.Dr. Placeda Lemana, OIC-Provincial Veterinarian, said the 325,000 table eggs from Iloilo and 666,667 from Capiz purchased by Negros Occidental a month can be covered by those produced in the province.Negros Occidental producers sell about 2.4 million eggs a month to other parts of the country, and lo...

The Mambukal Convention Hotel now ready for use* photo courtesy of Provincial Administrator Rayfrando DiazThe provincial government-owned Mambukal Resort and Wildlife Sanctuary, including its Convention Hotel, in Murcia, Negros Occidental, is all set for full scale operations Monday, Provincial Administrator Rayfrando Diaz said Sunday, December 4.The resort has improved water and lighting utilities, and the rooms at its Convention Hotel, LGU cottages, Tourist Lodge and villas have the capacity for 526 guests, he said.They are all set to welcome 502 provincial, city and municipal assessors and treasurers and their technical staff who will be participating in the Regional Association of Treasurers and Assessors of Region VI (REGATA VI) convergence at Mambukal starting Monday to T...

Fuel prices are expected to go down again on Tuesday, Unioil Petroleum Philippines announced Saturday, December 6.Diesel should go down by P1.90 to P2 per liter, and gasoline by P1.80 to P1.90 per liter from December 6 to 12, a Unioil forecast said.On November 29 diesel prices dropped by P3.95 per liter, gasoline by P0.85 per liter and kerosene by P2.65 per liter.The Department of Energy as of November 29 reported that there was a year-to-date net increase of P16.90 per liter for gasoline, P29.90 per liter for diesel and P25.20 per liter for kerosene.*

TThe prices of some Noche Buena or Christmas eve food in Negros have increased by about 10 percent, Rachel Nufable, Department of Trade and Industry provincial director, said Friday, December 2.DTI monitoring shows that some prices have gone up by 10 percent and even slightly above, which is still within the suggested retail prices, she said.She said among the Noche Buena items are queso de bola, fruit cocktail, and ingredients for spaghetti.The Christmas eve items are not considered basic necessities or prime commodities, and are not covered by a price freeze, Nufable said.The suggested retail prices for Noche Buena items are a guide for consumers to choose items within their budget, she said.Nufable said the DTI is also continuing to monitor the sale of Christmas ligh...