By Rose de la Cruz It doesn’t take an economist to explain that lower import duties don’t necessarily translate to lower local retail prices, particularly of rice, which the Marcos administration is desperate to control to manage inflation and spur GDP (gross domestic product) growth. Reducing the tariff on agricultural commodities from 35 percent to 15 until December 2028 would …

President Ferdinand Marcos Jr. received commemorative gold and silver coins from the Bangko Sentral ng Pilipinas, celebrating the 75th anniversary of central banking in the Philippines. The coin designs feature the Intendencia Building and anniversary markings. Availability for purchase will be announced on BSP's social media and sold via their website.

The Insular Foundation, in partnership with PhilRADS, provided food packs to 160 families in San Mateo, Rizal affected by Super Typhoon Carina. The initiative was part of InLife’s corporate social responsibility efforts to assist families in Sitio Ibayo, Barangay Dulong Bayan 1, amid severe flooding in the region.

Bangko Sentral ng Pilipinas Governor Eli M. Remolona, Jr. has been honored as one of the top-performing central bank governors globally, receiving an “A-” rating in Global Finance magazine’s 2024 Central Banker Report Cards. The ranking, which includes evaluations from nearly 100 regions, celebrates central bankers' effectiveness in combating inflation through higher interest rates. Governor Remolona completed his first year in office on 3 July 2024. The full report will be published in October.

By Rose de la Cruz The Federation of Free Farmers is asking Congress to investigate alleged extortion activities of some personnel at the Technical Education and Skills Development Authority (TESDA) from farm school owners and managers to expedite the release of grants for farmer-scholars. The same group also asked newly-appointed TESDA Director General Jose Francisco Benitez to conduct a similar  …

While still governor of Ilocos Norte, Ferdinand Marcos Jr. (now president) lobbied hard with his father, President Marcos Sr. and mom, First Lady, Imelda Romualdez Marcos to fund the Northern Foods Corp., that would process the province’s tomato products for value adding. Then costing P110 million, NFC (a failed tomato venture founded by Marcos Jr. in the 1980s), closed after …

On August 16, acting on information from Agriculture Secretary Francisco P. Tiu Laurel Jr., a composite team from the Department of Agriculture-Inspectorate and Enforcement Office, the Bureau of Customs, and other law enforcement units, raided an illegal storage facility in Navotas that led to the seizure of over 300 tons of smuggled vegetables, including onions and carrots. Tiu Laurel cited …

Much of our milk and cheese are imported because our country lacks grazing pastures for the ruminants and large cows have difficulty sourcing their food from the usual foraging areas and prices of imported grains are constantly rising. Exactly a month ago, the Inquirer featured the dairy industry’s prospects amid a climate change and the rapid urbanization of erstwhile pastures …

LANDBANK was recognized for its strong support in the circulation and usage of the 1000-Piso polymer banknotes. The state-run Bank was also lauded for its vital role as the distribution arm of the National Government’s social welfare programs, ensuring the timely, safe, and efficient disbursement of cash aid to Pantawid Pamilyang Pilipino Program (4Ps) beneficiaries.

The Social Security System (SSS) is exploring contributing payment options to help Pantawid Pamilyang Pilipino Program (4Ps) beneficiaries pay the 120 monthly contributions required to qualify for a lifetime pension when they reach retirement age. “It is important for 4Ps beneficiaries to have SSS contributions. Once they have paid at least 120 monthly contributions, they will no longer need financial …