Another oil price rollback
Another series of oil price rollback has been implemented by oil companies in the country today.
In the fourth straight week – Petron Corp., Eastern Petroleum, PTT Philippines, Seaoil Philippines, Inc. and Unioil Petroleum Philippines, slashed the pump prices of their diesel and gasoline products to reflect movements in the international oil market.
Prices of regular gasoline were down by 90 centavos per liter, premium gasoline by 70 centavos, diesel by 60 centavos and kerosene by 50 centavos per liter.
Other oil firms are expected to announce price rollback this week too.
Since the start of 2012, 12 oil price increases were already effected by oil companies as against seven price reductions to day.
May 8, 2012
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Tags: business news, deregulation law, fuel prices, international oil market, money, oil price rollback, Philippines · Posted in: Announcement, Business News, Consumers, Corporations, Foreign exchange, Government, Philippine business news, Philippines, Pricing, Products, Transportation
SSS to grant educational loans to members
A welcome addition to the members of the Social Security System (SSS).
SSS has started giving educational loans to its members.
In an interview, SSS Lending and Asset Management Head Luz Genoroso said that 200,000 members stand to benefit from the Education Assistance Fund which may be used for four-year degree programs and two-year technical/vocational courses.
SSS members who will be granted said educational loan will receive P15,000 per semester for four year courses, which is payable within five years after the beneficiary’s graduation, at six percent interest. A P7,500 allowance will be given for two-year courses, payable within three years after graduation, also at six percent interest.
To qualify for the Education Assistance Fund, SSS member applicants should have a monthly salary of P10,000 or less, and having only one beneficiary.
May 8, 2012
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Tags: beneficiary, business news, education, Education Assistance Fund, educational loan, Philippines, social security system, SSS · Posted in: Announcement, Business News, Consumers, Customer Service, economy, Education, money, Opportunities, Philippine business news, Philippines
AirPhil adds another Airbus to its fleet
Air Philippines added another plane to its growing fleet as it recently took delivery of a brand new Airbus A320 leased from Germany to boost its effort to expand its regional operations and become a major contender in the local air travel sector.
The budget carrier, who is the operator of the AirPhil Express brand, brings to 12 its number of jets. It also has eight turbo-propeller engine aircraft. The new Airbus is the second addition to the company’s fleet for 2012.
Air Philippines is an affiliate of flag carrier Philippine Airlines (PAL), who are now both under the control of conglomerate San Miguel Corp., led by president Ramon S. Ang. The budget carrier will soon assume all short-haul flight from PAL as part of the airline’s restructuring, according to Ang.
April 30, 2012
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Tags: Air Philippines, air transport, Airbus A320, AirPhil, budget carrier, domestic flights, jet, local tourism, Philippine Airlines, Transportation, travel, turbo-propeller · Posted in: Business News, Corporations, marketing, Philippine business news, Philippines, Products, Tourism, Transportation, Travel
Oil companies rolled back oil prices Monday
Lower oil prices greeted motorists Monday morning as oil firms rolled back prices of their petroleum products.
Caltex, Petron, Seaoil and Shell implemented fuel price rollbacks as 12:01 a.m. on Monday, while Phoenix Petroleum effected rollback at 6:00 a.m.
The rollback of oil prices were said to be caused by the lower prices of oil in the world market.
Petron, Chevron and Seaoil rolled back prices of regular gas by 60 centavos per liter, and premium and unleaded gas by 30 centavos per liter. Phoenix, on the other hand, rolled back prices of all its gas products by 30 centavos per liter.
Shell, for its part, rolled back prices of its unleaded, premium fuel and regular gas by 30 centavos per liter.
Flying V has also rolled back premium and lead-free gas by 30 centavos per liter and regular gas by 25 centavos per liter last Saturday.
April 29, 2012
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Tags: business news, lower prices, oil deregulation, oil price rollback, oil prices, Philippines · Posted in: Announcement, Business News, Consumers, economy, money, Philippine business news, Philippines, Pricing, Products
Government employees may receive salary increase
President Noynoy Aquino, during his visit in Bongabong, Oriental Mindoro, told Palace reporters that government employees may be able to get a salary increase.
The president was quoted as saying, “We are authorized by a particular law, the Salary Standardization Law III.” Aquino added that the only question left is if the government can advance the next tranche, “which is the fourth tranche of the increase.”
When asked what surprise he will give workers as a Labor Day gift, he said that the increase could be given “one month earlier than originally planned.” In June 2011, all employees and officials of the state received the third tranche of their salary increase one month ahead of schedule.
The Salary Standardization Law, which covers all employees in the executive and legislative branches and the judiciary, provides increases in salaries of government workers for a particular period, depending on their qualifications and merits.
The president will meet tomorrow, Labor Day, with the different labor groups for a dialogue.
April 29, 2012
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Tags: business news, employees, Labor Day, labor groups, May 1, money, Noynoy, Philippines, salary increase, Salary Standardization Law · Posted in: Announcement, Business News, economy, finance, Labor, Law, money, Philippine business news, Philippines
Cebu Pacific offers zero fare promo
Starting April 8, 2012 Cebu Pacific offers Zero fare to all travelers, until seats last. The P0 fare promo of Cebu Pacific (CEB) is valid for travels from November 1 to December 15, 2012. The seat sale is for one-way travel, exclusive of government fees, taxes and fuel surcharges.
Among destinations included in the zero fare promo are Bacolod, Boracay, Cagayan de Oro, Cebu, Clark, Davao, Kalibo, Laoag, Manila, Puerto Princesa, Siargao, Tawi-Tawi, Tuguegarao, Zamboanga and more.
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April 7, 2012
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Tags: CEB, Cebu Pacific, local tourism, Philippines, seat sale, summer promo, tourism, travel, zero fare, zero fare promo · Posted in: Announcement, Business News, Consumers, marketing, money, Philippine business news, Philippines, Pricing, Tourism, Transportation, Travel
Cebu Pacific wins best website for airline category
Cebu Pacific (CEB) reaped the awards of its innovative internet marketing effort as it was recognized as best website by Digital Filipino Web Awards recently, besting other companies in the airline categories.
The annual Digital Filipino Web Awards recognizes Filipino-owned companies web presence and judge them according their website, online marketing, e-commerce engine and social networking sites (SNS) engagement. Digital Filipino tracks and monitors the website using metrics and measurable output. Their criteria are: search engine and social media visibility (40 percent); website traffic and stickiness (40 percent); and technical performance (20 percent).
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March 3, 2012
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Tags: business news, CEB, Cebu Pacific, Digital Filipino, internet marketing, Philippines, social networking sites, travel, Web Awards · Posted in: Announcement, Business News, Corporations, e-commerce, finance, marketing, Philippine business news, Transportation, Travel
BPO firm SPi Global eyes Australian market
Business process outsourcing (BPO) company SPi Global is looking at the Australian market for its next target.
The BPO company, a wholly-subsidiary company of telecommunications giant Philippine Long Distance Telephone Co. (PLDT), said it wants to add Australia to its global resource network to tap new opportunities.
Company president Maulik Parekh said because of the reputation of the Philippines for its excellent customer service in the outsourcing industry, companies in Australia are keen on exploring of acquiring services here.
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September 3, 2011
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Tags: BPO, business news, business process outsourcing firm, Call Center, Employment, investment, Job Opportunities, Philippines, SPi Global · Posted in: BPO, Business News, Call Centers, Career, communications, Corporations, economy, Employment, investments, Opportunities, Philippine business news, Philippines
Puregold sets IPO date to September 21
The Puregold Price Club Inc. will launch its initial public offering (IPO) on September 21, 2011. The supermarket chain hopes to raise P12.4 billion in its IPO which it will use for its planned expansion.
The IPO, which is only the second in the country this year, was approved by the Philippine Stocks Exchange for the sale of as much as 600 million common shares at up to P18 per share. Puregold has set aside 90 million shares for a greenshoe option.
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August 28, 2011
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Tags: business news, finance, initial public offering, investment, IPO, money, Philippines, PSE, shares of stocks, stocks · Posted in: Announcement, Business News, Corporations, economy, Foreign exchange, IPO, marketing, money, Opportunities, Philippine business news, Philippines, Pricing, Products, promotions
Money Matters for Kids exhibit teaches kids the value of money
The Bangko Sentral ng Pilipinas (BSP) is having a three-month long exhibit in Manila that aims to encourage children to save money.
The exhibit dubbed “Money Matters for Kids” started last Tuesday at the Galeriya Bangko Sentral at the Metropolitan Museum in Manila.
In its news release, the BSP said the “The Money Matters for Kids traveling exhibit is a fun and interactive way for children aged 2 to 12 years old to learn about the concept of money, saving, spending and sharing and the importance of saving for the future. This exhibit first opened in Museo Pambata before it traveled around various malls and community centers reaching an estimated 90,000 kids since its launch in 2009.”
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August 14, 2011
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Tags: ATM, automated teller machine, Bangko Sentral, bank, bank manager, bank tellers, banking, BSP, Central Bank, Consumers, exhibit, money, Money Matters for Kids, Philippine, savings · Posted in: banking, Business News, Consumers, Corporations, economy, Education, finance, Government, innovation, money, Philippine banks, Philippine business news, Philippines
