DESPITE the Philippines’ improved standing in the world competitiveness index, the latest report noted wide gaps between rich and poor. Such contrast is etched dramatically in this urban scene in Pasay City, where shanties are dwarfed by modern buildings piercing the skyline. The Cabinet has decided to endorse an interim open-access scheme that allows industrial electricity users to directly transact with independent power producers—the rationale being that if they can get the most competitive rates, the goods and services they provide would be priced lower, giving consumers relief. --NONIE REYES

CALLING it part of government efforts to lower the cost of electricity and provide users some relief, the Cabinet has approved the proposal to allow major electricity users like malls, factories and five-star hotels to directly source their power requirements from independent power producers (IPPs), according to the National Economic and Development Authority (Neda).

SPEAKER Prospero Nograles has proposed tapping an estimated P16.7 billion from the 12-percent expanded value-added tax (E-VAT) on imported oil to subsidize power and fuel consumption as an alternative, should the proposal to remove the E-VAT on the electric bills of residential consumers not materialize.

THE study group created by President Arroyo to look into the claims of the Manila Electric Co. (Meralco) and its critics will convene Thursday to begin working on recommendations to reduce power rates, Executive Secretary Eduardo Ermita said Wednesday.

Ermita said he has directed Finance Secretary Margarito Teves, the head of the study group, composed mainly of the country’s economic managers, to convene the group, to be assisted by Cabinet Secretary Ricardo Saludo and Conrado Limcaoco, director-general of the Philippine Information Agency.

SAYING its Philippine operations have proved to be too far for its customers and relocation was the only option to significantly cut transit time, United Parcel Service Inc. (UPS) Wednesday announced plans to transfer most of its intra-Asia hub operations from Clark Field, Pampanga, to the bustling city of Shenzhen in China in 2010.

PANGLAO, Bohol—This sounds like good—albeit controversial—news to texters, or short-messaging system (SMS) users, who have put the country on the world map as having the most number of avid SMS users.

The Department of Transportation and Communications (DOTC) Wednesday floated the idea of abolishing the charges on text messages, and quickly drew protests from the telcos.

PANGLAO, Bohol—The Philippines will sign in December a multilateral agreement with Asean member-countries to pave the way for an open-skies regime within the region.

Transportation Secretary Leandro Mendoza made the announcement in a brief interview here, adding that China, Korea, Japan and the United States are also interested in joining the grouping, making it earn the name “Asean plus four.”

SINGAPORE—Data growth is certainly exploding in various industries. Hewlett-Packard (HP) is solving this problem by delivering enormous storage capacity and simplified management through a high-scalable, low-cost architecture.

HP launched Wednesday its new product—StorageWorks 9100 Extreme Data Storage—that can manage petabytes of file through a common management interface, making it ideal for online and digital-media businesses.

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OIL FLIRTS WITH $130/BARREL. OIL prices are heading to almost $140 a barrel in the next eight years, according to futures contracts Wednesday on the New York Mercantile Exchange, on concern that growth in supply may fail to keep pace with rising demand. Meanwhile, as oil prices hit another record, flirting with $130 a barrel, some members of the US Congress are demanding answers from commodities traders and threatening action.