MANILA, Philippines \u2014 Some manufacturers are implementing a voluntary price freeze until July to help address the impact of El Ni\u00f1o on prices of goods, according to the Department of Trade and Industry (DTI).<\/p>\n
In a statement yesterday, the DTI said several manufacturers have decided to voluntarily implement a price freeze on select stock keeping units of bottled water, canned meat and processed milk until July 10.<\/p>\n
Those included in the voluntary price freeze are Wilkins Distilled Bottled Water, Viva Mineralized Bottled Water, CDO Luncheon Meat, CDO Meat Loaf, Bingo Corned Beef, Bingo Beef Loaf, CDO Beef Loaf, 555 Meat Loaf, Argentina Meat Loaf, Argentina Corned Beef, Argentina Beef Loaf, 555 Beef Loaf and Birch Tree Full Cream Milk.\u00a0<\/p>\n
The voluntary price freeze is being implemented following the meeting of Trade Secretary Alfredo Pascual with manufacturers of basic necessities and prime commodities last May 3, to discuss how to address the risk of increasing prices due to El Ni\u00f1o.<\/p>\n
Pascual commended Century Pacific Food Inc., CDO Foodsphere Inc. and Coca-Cola Beverages Philippines Inc. for the move showing their comm itment to help ensure access to affordable basic goods.\u00a0<\/p>\n
\u201cThe Department expects to recei ve more advisories from other manufacturers of similar nature,\u201d the DTI said.<\/p>\n
Earlier, the DTI said several manufacturers and retailers have e xpressed openness to implementing a voluntary price freeze.<\/p>\n
Under the Price Act, prices of basic goods are automatically frozen at prevai ling prices up to 60 days in an area\u00a0declared to be\u00a0under a state of calamity.\u00a0<\/p>\n
During the recent meeting with manufacturers and retailers, Pascual emphasized the DTI\u2019s commitment to combat profiteering, hoarding and cartels by stepping up its monitoring\u00a0across the supply chain and implement ation of the \u201cfarm-to-fork\u201d strategy.<\/p>\n
The \u201cfarm-to-fork\u201d strategy involves the partnership with the Department of Agriculture and Clark International Airport Corp. for establishing the Clark Mega Food Hub and the Nueva Vizcaya Agricultural Terminal in collaboration\u00a0with the United States Agency for International Development-Strengthening Private Enterprises for the Digital Economy.<\/p>\n
To further streamline the supply chain and potentially bring down costs, Pascual also proposed establishing a direct link between farmers and retailers.<\/p>\n
Sen. Francis Tolentino\u2019s urgent call to the DTI for price control in the face of a severe dry spell has been approved, as confirmed on Friday by DTI Assistant Secretary Amanda Marie Nograles.<\/p>\n
\u201cWith the positive response of the DTI to our suggestion to impose price control because of El Ni\u00f1o, the prices of certain commodities will be controlled even without the government declaration of a state of calamity,\u201d Tolentino said.<\/p>\n
Nograles informed Tolentino that the DTI immediately called for a meeting to look into price control by freezing the prices of some commodities and invited manufacturers to get their response.<\/p>\n
\u201cWe discussed the possibility of some sort of voluntary price freeze of manufacturers as one form of bayanihan because we are experiencing El Ni\u00f1o and inflation,\u201d she said.<\/p>\n
Nograles thanked Tolentino for suggesting a price freeze on some commodities because the consumers are feeling the brunt of the El Ni\u00f1o phenomenon, while the government has not declared a state of calamity.<\/p>\n
The DTI executive said they expect to announce the full list next week.<\/p>\n
MANILA, Philippines \u2014 Breaking his silence, President Marcos yesterday branded former Philippine Drug Enforcement Agency (PDEA) agent Jonathan Morales, who linked him to illegal drugs, as a \u201cprofessional liar\u201d and likened him to a jukebox that would play any song for a fee.<\/p>\n
Marcos questioned Morales\u2019 credibility, noting that the person had many court cases, including false testimonies, and complaints for implicating innocent people.<\/p>\n
\u201cIt\u2019s hard to give importance to that. This fellow is a professional liar. He\u2019s like a jukebox. As long as you drop money, whatever song you want, he will sing. So there is no point (in paying attention to this),\u201d the President told reporters in General Santos City.<\/p>\n
At a recent Senate hearing, Morales claimed an alleged classified document of PDEA, which links Marcos and actress Maricel Soriano to illegal drug use, was authentic. The supposed leaked documents were making the rounds on social media.<\/p>\n
\u201cJust look at his record. Just look at his \u2013 he has a false testimony case\u2026 He has a history of accusing people of anything,\u201d the President said.<\/p>\n
\u201cI guess that\u2019s what he does for a living. That\u2019s why I call him a professional liar,\u201d he said.<\/p>\n
Marcos was asked by the media to react to the 2012 documents allegedly linking him and Soriano to narcotics use on the sidelines of the Government-Owned or Controlled Corporations Day in Pasay on May 6. The President just laughed off the claim then.<\/p>\n
Executive Secretary Lucas Bersamin, who was with the President at the event in Pasay City, told reporters that the accusation against the President was \u201ccontrived.\u201d<\/p>\n
PDEA said the document referred to by Morales does not exist.<\/p>\n
MANILA, Philippines \u2014 Pump prices for fuel products could decline again next week, as oil prices in the Asian market fell amid favorable global political and economic conditions, according to the Department of Energy (DOE).<\/p>\n
Rodela Romero, DOE-Oil Industry Management Bureau assistant director, said pump prices for gasoline, diesel and kerosene are expected to continue their downward trend next week.<\/p>\n
Prices may go down by P2.00 to P2.25 per liter for gasoline, P0.50 to P0.85 for diesel and P0.90 to P1 for kerosene, according to the DOE\u2019s estimates based on the recent four-day trading.<\/p>\n
If the forecast materializes, it would be the third consecutive week that gasoline prices decrease, while it would be the fourth straight week of rollback for both diesel and kerosene.<\/p>\n
Romero attributed the pump price rollback to easing oil prices in Asian trade due to \u201csustained\u201d increase in US inventories and strengthening of the US dollar.<\/p>\n
Citing reports, she added that the new ceasefire proposal for Gaza also contributed to lower global oil prices.<\/p>\n
The final oil price adjustment will be announced on Monday and will take effect the next day.<\/p>\n
Last week, oil companies slashed their prices on a per liter basis by P0.75 for gasoline, P0.90 for diesel and P1.05 for kerosene.\u00a0<\/p>\n
The year-to-date adjustments of gasoline and diesel stood at a per liter net increase of P9.25 and P4.70 respectively as of May 7, based on DOE monitoring.<\/p>\n
Meanwhile, kerosene posted a net decrease of P0.80 per liter.<\/p>\n
MANILA, Philippines \u2014 The 51-year-old Sofitel Philippine Plaza Manila in Pasay City will close its doors starting July 1.<\/p>\n
\u201cWe will cease hotel operations on July 1, 2024, so our last day of business will be on June 30,\u201d Esteban Pe\u00f1a Sy, president of the luxury hotel\u2019s owner Philippine Plaza Holdings Inc. told The STAR by phone yesterday.<\/p>\n
According to a statement allegedly from the hotel management that made the rounds on social media, the closure of the luxury hotel was \u201cpart of our ongoing commitment to providing our guests and colleagues with the best possible experience.\u201d<\/p>\n
Sy pointed out five-star Sofitel would close its doors to guests due to safety issues, possibly wear and tear of essential equipment like water pipes and electrical wires.<\/p>\n
He recalled firefighting personnel of Pasay City had to respond to \u201c27 fire incidents\u201d in the hotel so far this year, and praised the hotel employees and firefighters for quickly suppressing them.<\/p>\n
\u201cIn September 2023, we had to evacuate all our over 1,000 hotel guests because our water pipes busted,\u201d he added.<\/p>\n
International consultants and the Department of Labor and Employment also came up with reports that declared the integrity of the hotel, as well as working conditions, was no longer safe, according to Sy.<\/p>\n
Shutting down Sofitel would \u201cavoid any casualty,\u201d he emphasized.<\/p>\n
He also assured the hotel\u2019s hundreds of employees, including its labor union, that they would be given \u201cvery good\u201d separation packages, which he even called \u201cbetter.\u201d<\/p>\n
They would also undergo seminars and training, with the hope that Accor \u2013 a multinational hospitality firm serving as the hotel\u2019s manager \u2013 would absorb and send them to its other properties, he added.<\/p>\n
Sy pointed out Sofitel\u2019s upcoming closure has nothing to do with the ongoing reclamation projects in Manila Bay \u2013 which reportedly blocked its view of the famous Manila Bay sunset \u2013 as well as the lease agreements with the hotel\u2019s land owner, Government Service Insurance System, contrary to earlier reports.<\/p>\n
\u201cThe shutdown has nothing to do with GSIS. Our landlord and tenant relationship is very cordial,\u201d he said.<\/p>\n
On the issue of Manila Bay reclamation, he said, \u201cLuckily we are not totally affected. Our guests are still waiting in the Sofitel garden for the sunset.\u201d<\/p>\n
He also said he was thankful the government \u2013 citing a previous declaration from President Marcos to stop all reclamation projects in Manila Bay \u2013 did not allow reclamation 500 meters from the hotel\u2019s seawall.<\/p>\n
Sy asserted before the announcement of Sofitel\u2019s closure, \u201cbusiness was so good recently that in the last quarter we had 80 percent occupancy and the restaurant was always full.\u201d<\/p>\n
Asked if the closure of the hotel would be temporary or permanent, Sy said \u201cthe future of the hotel is uncertain.\u201d<\/p>\n
Accor described Sofitel as a \u201can iconic 5-star luxury resort nestled in a tropical setting close to the largest convention center, theaters, museums, government offices and the Mall of Asia.\u201d<\/p>\n
\u201cOur 5-star accommodation includes 607 rooms and suites with balconies showcasing spectacular views of Manila Bay sunsets,\u201d it added.<\/p>\n
Built in 1973 and opened \u201cwithout interruption\u201d in 1976, or during the martial law era, the hotel \u201chad a long legacy as the hotel of choice for almost five decades for heads of state, celebrities and global corporations alike, and it has been home to celebrations and milestones of our beloved patrons and clients,\u201d according to Sofitel\u2019s statement shared on social media.<\/p>\n","protected":false},"excerpt":{"rendered":"
MANILA, Philippines \u2014 Some manufacturers are implementing a voluntary price freeze until July to help address the impact of El Ni\u00f1o on prices of goods, according to the Department of Trade and Industry (DTI). In a statement yesterday, the DTI said several manufacturers have decided to voluntarily implement a price freeze on select stock keeping […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[40],"tags":[3889],"class_list":["post-2539","post","type-post","status-publish","format-standard","hentry","category-Headlines","tag-SOFITEL"],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/asianews.ph\/index.php?rest_route=\/wp\/v2\/posts\/2539","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/asianews.ph\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/asianews.ph\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/asianews.ph\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/asianews.ph\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2539"}],"version-history":[{"count":0,"href":"https:\/\/asianews.ph\/index.php?rest_route=\/wp\/v2\/posts\/2539\/revisions"}],"wp:attachment":[{"href":"https:\/\/asianews.ph\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2539"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/asianews.ph\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2539"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/asianews.ph\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2539"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}