Businessmirror february 24, 2018

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OIL FIRMS FIND WAYS TO KEEP SALES VOLUME HIGH AMID PRICE HIKES CAUSED BY TRAIN LAW

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By Lenie Lectura

month after pump prices surged as a result of the enactment of the Tax Reform for Acceleration and Inclusion (TRAIN) law, oil companies said sales volume remains “normal” and they even expect demand to grow.

“Sales volume is normal after the TRAIN law implementation,” Phoenix Petroleum Philippines Inc. Vice President of Corporate Affairs Raymond Zorilla said via SMS. At end-2017, Phoenix had a total of 530 retail service stations. It posted record sales volume, revenues and net income last year. Phoenix reported a net income of P1.79 billion for 2017, up 65 percent from the previous year. Sales volume increased by 17 percent to 1.76 billion liters, from 1.5 billion liters. Revenues, meanwhile, rose

by 45 percent to P44.426 billion. The oil firm attributed last year’s higher sales volume to the addition of new stations, acquisition of new direct commercial accounts across various industries, as well as the consolidation of the liquefied petroleum gas (LPG) business. PTT Philippines Corp., which has 122 service stations in Luzon and Central Visayas, expects demand for petroleum products to continue. This, despite the retail price for

gasoline products now costing anywhere between P46 and P57 a liter. Diesel price now ranges from P35 to P41 per liter. Kerosene is sold anywhere from P47 to P55 per liter. “We still expect demand to grow despite the implementation of TRAIN. Back in 2011-2014, crude prices were trading above $100 per barrel, but national demand continues to grow at a CAGR [compound annual growth rate] of 7 percent. Now, crude is trading below $70/bbl. Vehicles are becoming Continued on A2

CUSI: “The motorists, just like any consumer, will look for cheaper prices or gas up where he finds his money’s worth.”

Pinay is expert linguist in America

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By Roger Pe

n her work, the phrase “lost in translation” is a no-no. Medy Beroy is a Filipina who works as an independent legal and medical interpreter in Georgia, USA. As an interpreter, she listens to what her clients say and translates them to another language so that legal or medical procedures are translated accurately without losing their meaning. In layman’s language, legal interpreting involves cases that are heard between a judge or hearing officer and the defendant. Medical interpreting, obviously, is when it is done in hospitals, clinics or other medical facility involving health practitioners and their patients. Because of the big number

of foreign-born residents with limited English proficiency (37.5 million, based on current Census Bureau statistics) in the United States, the demand for interpreters has become a necessity. As a result, interpreting agencies in America have mushroomed, providing readily available profes-

PESO exchange rates n US 52.1160

sional and court-certified interpreters. As for Beroy’s case, she gets calls around the US and as far as London, to do interpreting jobs. As an interpreter for both disciplines, she must not only speak the language of what a client needs, she must also interpret its nuances intelligently. Beroy does it either face-toface or through remote telecon. Her interpreting job may include collecting unemployment benefits, activating clients’ health-insurance plans to doing mundane tasks like fixing telephone-connection problems, among others.

First job in America

Prior to her job, Beroy worked as a caregiver for the elderly and disabled. “I have a soft spot for them,” she said. Her patients were rich men and women who started out as ordinary people and ended up being successful. “I learned a lot from them.

They also brought me to places that I otherwise won’t be able to see,” she narrated. But health issues forced her to stop what she loved doing and had to reinvent herself as an interpreter. When she migrated to the US in 2009, transitioning was very hard for Beroy. She was a department head in the Philippines with the power to hire and fire, yet had a hard time getting a decent job. While domestic helpers were common in the Philippines, housekeepers were expensive in the US. Only the rich could afford to hire them. Out of need, she learned to clean the house, tidy up and cook. As former head of a provincial Public Employment Services Office that deployed local and overseas workers, Beroy felt bad about the diaspora of Filipinos, but accepted it as a fact and a reality, noticing that her kababayan with spouses, children or siblings abroad have a better quality of life. In her former place of work Continued on A2

MEDY BEROY, a successful Pinay linguist who just bought a vintage house in Georgia, USA.

n japan 0.4885 n UK 72.7018 n HK 6.6609 n CHINA 8.1988 n singapore 39.5148 n australia 40.8694 n EU 64.2486 n SAUDI arabia 13.8976

Source: BSP (February 23, 2018 )


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