INDONESIA may soon recognize the Philippine halal certification process, opening the door for exports to that country, the Department of Trade and Industry (DTI) said.

THE House committee overseeing taxes said it supports an expansion of the quota for pork imports that pay a more favorable tariff, known as the minimum access volume (MAV), but did not recommend a lowering of tariff rates, saying that such a measure would not significantly reduce pork prices.

THE price controls on pork and chicken will remain in force until April 8 as originally planned, the Department of Agriculture (DA) said, in order to stem a dramatic rise in the commodities.

THE GROWTH of fisheries output needed to keep up with the rising population was estimated at about 50,000 metric tons (MT) a year, with most of the new demand to be met by aquaculture, advocacy group Tugon Kabuhayan said.

THE RECOVERY will be hindered by inflation and the weak job market this year, possibly outweighing positive factors like the vaccination campaign, tax reforms and the infrastructure program, Pru Life UK Investments said.

The COVID-19 vaccine is just around the corner but the challenges of the first quarter must still hold our attention. The news is full of headlines on the Philippines’ budget deficit growing to a record P1.37 trillion and the debt-to-GDP ratio rising to 54.5% at the end of 2020. The increased need to address the burgeoning deficit and debt leaves the government scrambling to raise revenue. 

THE TWO chambers of the legislature will form a Joint Congressional Oversight Committee (JCOC) to monitor the implementation of the Financial Institutions Strategic Transfer (FIST) Law, with its co-chairs saying that the panel will ensure that FIST incentives are not abused by parties availing of its tax-light asset-transfer rules.

THE House Committee on Banks and Financial Intermediaries will discuss a bill this week that proposes amendments to the Usury Law that will cap interest rates for credit cards and otherwise set a prescribed range of fixed rates for various forms of lending.

THE Department of Environment and Natural Resources (DENR) has closed an 18,000-square meter sanitary landfill in Urdaneta City, Pangasinan on Friday, after the facility failed to address its violations within the deadline set for it.

SUBSIDIES PROVIDED to government-owned and -controlled corporations (GOCCs) rose 14.34% in 2020 to P230.418 billion, with close to half going to the Philippine Health Insurance Corp. (PhilHealth) and the Social Security System (SSS), which implemented a wage subsidy program designed to keep workers employed during the pandemic.

THE Asian Development Bank (ADB) said Friday that it has set a target of $80 billion worth of climate financing by 2030.

Today, as we celebrate International Women’s Day, we continue to recognize that women’s advancement is an economic imperative for increased prosperity, stronger communities and a key factor in building a better working world. Women all over the globe continue to demonstrate their crucial role in keeping the wheels of society turning, as well as breaking down traditional gender stereotypes.