PHILIPPINE Amusement and Gaming Corp. (PAGCOR) said net profit in the first quarter declined 80% from a year earlier to P152.62 million after casinos and other gaming operations dealt with further disruptions resulting from the new wave of lockdowns.

THE DEPARTMENT of Agriculture (DA) said it hopes to upgrade its ability to track traded livestock and poultry via an accreditation system at local government units (LGUs) and national levels.

THE DEPARTMENT of Energy (DoE) said potential entrants to the downstream oil sector are no longer required to obtain an endorsement from the agency, which is currently pushing to simplify its permit processes.

AGRICULTURAL OUTPUT growth in the Western Visayas in 2020 was 4.7%, the highest of the 16 regions monitored by the Philippine Statistics Authority (PSA), driven by the crops and poultry sectors.

A BILL has been filed at the House of Representatives proposing to create a new biosafety center to protect the agriculture industry from disease.

In the past year following the declaration of a state of calamity due to COVID-19, the Philippines has redefined its tax and regulatory landscape. In exercising its supervisory authority over banks and credit card issuers under the Philippine Credit Card Industry Regulation Law, the Bangko Sentral ng Pilipinas (BSP), in particular, issued Memorandum Circular No. 1098, which lays down the maximum interest and finance charges that banks and other non-bank financial institutions (NBFIs) can impose on credit card receivables.

THE DEPARTMENT of Energy (DoE) said Tuesday that the government is considering greater involvement in generating power to build up reserves, and has its eye on plants that are in the process of being privatized.

THE National Economic and Development Authority (NEDA) said a renewed focus is needed on improving human capital development and ensuring food security during the global health crisis.

THE TRADE department has asked Australia to lift anti-dumping duties on Philippine canned pineapples at the resumption of trade talks between the two countries.

THE emerging field of migration technology is being enlisted to reduce the risks faced by migrant workers, the Asian Development Bank (ADB) said.

THE PHILIPPINES has agreed to explore areas of possible economic cooperation with Chile, raising the possibility of a first formal South American trade and investment arrangement.

THE DEPARTMENT of Energy (DoE) said Tuesday that run-of-river (RoR) hydropower plants remains undersubscribed for the feed-in tariff (FiT) scheme, noting that as of December, some 103 megawatts (MW) worth of capacity remained available as of December.