Competition is a process of economic rivalry between market players to attract customers. These market players can be multinational or domestic companies, wholesalers, retailer, or even the neighbourhood shopkeeper.
In their pursuit to outdo rival enterprises, market players either adopt fair means (producing quality goods, being cost efficient, adopting appropriate technologies, etc.) or indulge in unfair measures (carrying out restrictive business practices – such as predatory pricing, exclusive dealing, tied selling, collusion, cartelisation, abuse of dominant position, etc.).
Mittal Steel is appealing against a US$96 million fine handed down by South Africa's Competition Tribunal for excessive pricing.
India's competition law is tipped to come into force by mid-2008, after the country's parliament this week approved the competition amendment bill.
Australian treasurer Peter Costello has proposed reducing the burden of proof in predatory-pricing cases.
Belgium's Competition Council has issued a final version of its new leniency programme.
Santiago Roca, President of the Board,Peruvian Competition Agency, INDECOPI
Erlinda Medalla, Research Fellow, Philippine Institute for Development Studies
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