Business

A large drop in fuel prices is expected on Tuesday, May 9.Oil firms are expected to cut diesel prices by P2.50 to P2.70 per liter, and gasoline by P1.80 to P2 per liter, according to the forecast of Unioil Petroleum Philippines on Saturday.It will be the third straight week for drops in fuel prices.On May 2 diesel prices dropped by P1.30, gasoline by P1.50, and kerosene by P1.40.*

Ceneco acting general manager Arnel Lapore.*The draft of the Joint Venture Agreement provisions between Central Negros Electric Cooperative and MORE Electric and Power Corporation will hopefully be out by next week, Ceneco acting general manager Arnel Lapore said Thursday, May 4.The daft will then be open for public discussion and deliberation, he said.The due diligence process for the JVA is doing well, he saidCENECO officials who visited More Power in Iloilo on Wednesday were shown its developments and capital expenditures management methods, Lapore said.They also met with Iloilo City Mayor Jerry Treñas who was all praises for MORE’s operations in Iloilo, he added.*

Increasing food production to bring down inflation, not wage increases is what is needed now, a Negros business leader said Tuesday, May 2.Frank Carbon, Metro Bacolod Chamber of Commerce and Industry chief executive officer, saidincreasing wages now will worsen inflation as it will lead to businesses raising the prices of their goods.The wage increase will benefit workers in the formal sector, but those in the informal sector who form almost half of the labor force will not benefit from it and will suffer more from the increase in the prices of goods.Increasing wages will also send a negative signal to both domestic and foreign investors, Carbon added.Existing businesses will also not expand because higher wages will be beyond their reach, he added.The Philippines h...

The solidarity forum of the National Congress of Unions in the Sugar Industry of the Philippines, General Alliance of Workers Association, Congress of Independent Organizations and the Philippine Agricultural Commercial Industrial Workers Union leaders at the Negros Press Club to mark Labor Day on May 1.*Twenty leaders of labor groups under the General Alliance of Workers Association (GAWA) signed a resolution in support of a Central Negros Electric Cooperative and MORE Power Corporation joint venture agreement (JVA) at a Labor Day forum at the Negros Press Club in Bacolod City on Monday morning, May 1.Militant labor groups, under the United Labor Alliance – Negros, on the other hand, slammed the JVA at their rally in front of the Bacolod City Government Center replica at the Bacol...

Diesel and gasoline prices are expected to drop by more than P1 a liter on Tuesday.Diesel prices should go down by P1.20 to P1.40 per liter, and gasoline by P1.40 to P1.50 per liter on Tuesday, May 2, until May 8, Unioil Petroleum Philippines said Saturday.The Department of Energy's oil price monitoring on April 25 showed a year-to-date net decrease in local diesel prices by P3.05 per liter.However, gasoline had a net increase of P7.55 per liter as of April 25, the DOE said.*