Starting yesterday, and every Monday from now on, the Ministry of the Economy will publish the "official" price reference to regulate the fuel market.
The new mechanism announced yesterday by the Minister of the Economy, and the new director of petroleum and mining, Francisco Antonio Peña Rodriguez, includes a formula that considers at least four variables to determine the local price of a gallon of fuel sold at the pump.
The Salvadoran Superintendence of Competition has received a request by Calleja SA, owner of Súper Selectos, to buy Almacenes Europa.
The request, which will be reviewed by the Board of the Superintendency of Competition (SC), was presented on January 2nd and is for the purchase of the five of sales outlets belonging to Europa SA, owner of Almacenes Europa and Hiper Europa.
The Superintendency of Competition is investigating whether the mills El Angel and La Magdalena carried out operations that could be considered economic concentration.
From a statement issued by the Superintendency of Competition (SC):
SC launches an investigation against two mills
The Superintendency of Competition has initiated an investigation against the operators Ingenio El Angel SA de CV and Ingenio La Magdalena, SA de CV, to determine whether or not they infringed the Competition Act by having operations that could be considered economic concentration, without requesting approval from this Office, which they are obliged to do.
The Competition Superintendence in El Salvador has fined the airline $18,425.40 for failing file required information in a timely manner.
A statement from the Superintendency of Competition (SC) reads:
The Superintendency of Competition (SC) has sanctioned DELTA Airlines, Inc., Branch El Salvador, with a fine of $18,425.40 for the late filing of information requested by the SC in an investigation on the conditions of competition in passenger air transport in El Salvador. The Salvadoran Association of Airline Representatives (ASLA) was also punished for the same reason with a fine of $2,127.70.
The countries in the region are working on the development of a standard to regulate anti-competitive practices by regional companies.
The first draft of the new regulations was presented at the VII Central American Competition Forum.
"There are markets where competition problems cross borders and affect more than one country, we are working on a competition law and on the creation of an authority which has the power to implement it in Central America," said Francisco Diaz Rodriguez, Superintendent of Competition in El Salvador.
An agreement is being established to promote the arrival of new airlines into the country streamlining the processes of registration and starting commercial operations.
The Superintendency of Competition and Civil Aviation has signed an agreement designed to promote competition in the airline market in the country, streamlining and simplifying the formalities the must be completed in order to start operations.
The Superintendency for Competition in El Salvador has sanctioned four telephone companies for agreeing jointly to a single fee for the provision of one of their services.
The Board (CD) of the Superintendencia de Competencia (SC) fined Telemóvil, Telefonica, Digicel and Intelfon a total of $1,215,497.94 for agreeing to jointly fix the rate of $ 0.21 plus VAT per minute for calls from the traditional local phone network to a mobile phone.
The Mexican company will not be able to merge with Digicel unless it agrees to a condition to renouncen the use of 20 MHz of airwaves.
Regarding the ruling by Superintendencia de Competencia (SC), Daniel Choto writes in Elsalvador.com, "The reason for this precondition to allowing the merger of the operations of both companies is to maintain the current level of competition in the field of mobile phone companies in order to protect consumers' pockets, said the head of the SC, Francisco Diaz Rodriguez. "
After the competition regulator imposed the release of part of the spectrum leased by Claro as a condition to the merger between the two companies, America Movil has announced its withdrawal from the move.
In March last year, America Movil announced an agreement to acquire a 100% stake of Digicel El Salvador, for an undisclosed amount.
The Superintendency of Competition (SC) of El Salvador conditioned the operation to Claro waiving the right to exploit 20 MHz of the total spectrum it owns in El Salvador. "The reason for this precondition to authorize the merger of operations of both companies is to retain the current level of competition in the cell phone industry to protect consumers' pockets", explained at the time the head of the SC, Francisco Diaz Rodriguez .
The Competition Superintendence of El Salvador has acknowledged receipt of a new request for the acquisition of 100% of Digicel’s shares by Claro in March 2012.
From a communciation from the Superintendence of Competition (SC):
SC Receives new application from CLARO - DIGICEL
The Board (CD) of the Superintendencia de Competencia (SC), has received a new application for a new merger request made by the company America Movil, which owns the CLARO brand, for the purchase all of Digicel’s shares.
The Central Bank is preparing a draft law establishing a legal framework for factoring services.
Up until now factoring in the country has been governed only by the provisions of the Commercial Code, which falls short when regulating this funding mechanism, which is widely used particularly by SMEs.
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