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President Gloria Arroyo gave in to oil companies that have threatened to announce oil shortages, following her declaration of a state of calamity and an oil price freeze to prevent consumer price rises.
This after two typhoons in late September to mid-October devasted Metro Manila and northern and southern Luzon.
An oil price cap in Luzon will be lifted on Monday although the government has yet to make a definite announcement regarding price controls for rice, sugar and other basic commodities, said a palace statement, adding that Arroyo had revoked her executive order which held fuel prices at October 15 levels.
"It was in response to a recommendation of the task force that was created to review the government's executive order," said the statement.
Stakeholders can "work out" the details of the staggered price hike and on Monday "we can synchronise…the general increase [of oil products]," Arroyo said.
Arroyo said she got the assurance of oil distributing companies that they will continue to provide fuel discounts to transport groups to hold fares down for six more months and that she requested that price hikes for gasoline and fuel should be staggered until after the Christmas season.
Dealers of liquefied petroleum gas (LPG) should stagger their price recoveries over a month and a half, said Arroyo.
Oil companies raised product prices after two storms destroyed crops, submerged villages and left thousands dead.
Trade Secretary Peter Favila said the government will lift price controls on basic and prime commodities on Monday.
However, the move is subject to three conditions: traders should assure adequate supplies and reasonable pricing, no hoarding and profiteering, and discipline in the market.
Two small oil players Total Philippines and Eastern Petroleum refused to give details of the level of increases in their prices.
Arroyo flew to Singapore to attend the summit of the Asia-Pacific Economic Cooperation (Apec).
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The Guinean government says it has signed a $7 billion agreement with a Chinese minig company, just one month after a massacre of protesters by government troops drew international condemnation. The unnamed firm will dig for diamonds, gold and bauxite and provide Guinea with much needed revenue as it faces the prospect of economic isolation.
The deal - which could give Guinea's $23 billion GDP a massive boost - puts China in direct competition with U.S. and Russian mining companies.
China's trade interests in Africa have incerased tenfold since 2001.
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The upcoming Shanghai World Expo running from May to October 2010 will bring unprecedented international attention to Shanghai and its environs – and a boom in the Meetings, Incentive, Conventions, and Exhibitions business. With new hotels and venues coming on stream to accommodate the influx, the hospitality industry faces the daunting task of finding sufficient qualified staff to run its establishments.
To help the industry meet this challenge, The Hong Kong Polytechnic University’s School of Hotel & Tourism Management and Fudan University’s Center for Forum Studies will jointly hold a two-day Hotel and Convention Management Seminar designed to address the key issues facing the industry and the management expertise required for the Shanghai World Expo and beyond.
WORKSHOPS:
Delivering Asian Hospitality Service to Enhance Revenue
Thursday, December 3, 2009
Instructor: Professor Cathy Hsu
Managing the Hotel Sales Operation: What You Need to Know to Stay Ahead of the Competition
Thursday, December 3, 2009
Instructor: Dr. David Jones
Managing Meetings, Conventions, and Forums
Friday, December 4, 2009
Instructor: Mr. Tony Xu
Marketing a Meeting to Gain Attendance
Friday, December 4, 2009
Instructor: Prof. Amy Chan
WORKSHOP FEE:
US$150 or HK$1,170 or RMB1,060 per workshop
US$500 or HK$3,900 or RMB3,545 for all four workshops
CONTACTS:
FOR PARTICIPANTS FROM MAINLAND CHINA:
Miss Bai Nan, Room 603, East Wing, Guanghua Building, Center for Forum Studies, 220, Han Dan Road, Fudan University, Shanghai, P.R. China, Tel: 86-21-6510-0239, Fax: 86-21-6510-0239, Email: forums@fudan.edu.cn .
FOR PARTICIPANTS FROM OUTSIDE OF MAINLAND CHINA INCLUDING HONG KONG SAR, MACAU SAR, AND CHINESE TAIPEI:
Miss Flora Ng, R815, Core R, School of Hotel & Tourism Management, The Hong Kong Polytechnic University, Hung Hom, Kowloon, Hong Kong SAR, China, Tel: 852-3400-2635, Fax: 852-2356-1390, Email: hmfn@polyu.edu.hk .
Please visit
http://www.polyu.edu.hk/htm/conference/hcm09 for details of the seminar.
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Valuation tenders-overhead cost.-.
Gustavo Miguel, 19 Nov 2009, 4:01 pm
Re^3: Barack Obama's Asian adventure
Dr. Nilgun Birgoren, 17 Nov 2009, 10:23 pm
投资中国俱乐部简介
Linchang Shen, 16 Nov 2009, 03:18 am
Re^2: Barack Obama's Asian adventure
Dr. Nilgun Birgoren, 15 Nov 2009, 8:07 pm
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