The United Negros Drivers and Operators Center and of the Federation of Bacolod drivers Association is waiting for its mother organizations in Manila to decide on whether they will file a petition for a fare hike following the latest increase in petroleum products in the country Tuesday.

On Tuesday, Total Corporation increased the prices of gasoline by 45 centavos per liter and 60 centavos per liter of diesel while Petron and Shell hiked the prices of their diesel by 60 centavos per liter; gasoline by 45 centavos per liter; and kerosene by 55 centavos per liter on the same day.

After the increase in petroleum products of these firms, Seaoil Philippines yesterday also hiked the price of its gasoline by P0.45, diesel by P0.60 and kerosene by P0.55 per liter.

‘PHL will be okay after
outflows subside’

An economist of the ING Bank NV Singapore sees continued outflows from the Philippines but not as large as those experienced during the global economic crisis in 2008-09.

Tim Condon, managing director and Head of Research, Asia of ING Bank NV Singapore, in a briefing Wednesday, said outflows cannot be prevented given the improvement in advanced economies.

Bangko Sentral ng Pilipinas’ data show that in the first two weeks of this year, foreign portfolio investments, otherwise known as "hot money" due to the speed it comes in and out of the economy, has been in net outflow.

B-well steam
sterilizes recalled

Medala, an international manufacturer of advanced breast pumps and medical vacuum technology had recalled its B-well steam sterilizes from the market effective immediately, Department of Trade and Industry Negros Occidental Provincial Director Rebecca Rascon, said yesterday.

Rascon said the company started to place the product along with replacement parts on the market in the market in November 2010.

However, it discovered that moisture may enter the electronics or the power cable connection between the cable and the device which may result to short circuit and leakage current, Rascon said.

back to top