Latest news with #NCPC
GMA Network
21-05-2025
- Business
- GMA Network
Pest infestation monitored in sugar farms in Negros Occidental —SRA
The Sugar Regulatory Administration (SRA) on Wednesday said it has monitored an infestation of red-striped soft scale insects (RSSI)—which can reduce sugar content by as much as 50%—in sugar farms across six areas in northern Negros Occidental. In a statement, the SRA said it created a task force, headed by SRA Board Member David Andrew Sanson, to control the infestation and seek quarantine measures from the Department of Agriculture (DA). SRA Administrator Pablo Luis Azcona advised sugar farmers to be 'more vigilant' where they purchase their cane points, as the infestation is suspected to have been brought to Negros from Luzon, where an RSSI infestation has happened before and is still present in some farms. 'We cannot afford to have an infestation, as some farmers are already starting to plant their canes for the next crop year. We made a good showing this year despite the challenges brought about by the long drought, and I hope we can maintain the momentum and even exceed our targets for next year if we will all help one another in containing this infestation,' Azcona said. According to the SRA chief, RSSI can raise production costs and decrease yield, which can jeopardize the stability of the industry. The agency is expecting that sugar production in the previous crop year could reach 1.837 million metric tons (MT), higher than the initial estimate of 1.782 million MT. The SRA said that upon receiving reports from the field in north Negros, it sought the help of the National Crop Protection Center (NCPC) at the University of the Philippines Los Baños, which facilitated the research and found at least five insecticides that may be able to limit the infestation. Based on the NCPC's study, buprofezin, dinotefuran, phenthoate, pymetrozine, and thiamethoxam have shown potential in curbing the spread. However, the SRA said, citing the NCPC, 'This is not conclusive until we conduct a second field trial in a different location,' before they can even seek an emergency-use permit from the Fertilizer and Pesticide Authority (FPA), as 'these insecticides are not yet registered for sugarcane.' The SRA said Azcona will propose that the second trial be conducted in Negros. In the meantime, the agency will implement quarantine of canes from infected areas. Sanson said that the task force will set up an Operation and Monitoring Center to document and report all RSSI and related issues around the country and will facilitate coordination and consultation among SRA delivery units and partner agencies that are involved in the management of the RSSI. 'Supporting the task force is not optional, as it is essential in ensuring the future of the sugarcane industry,' said Sanson. — VBL, GMA Integrated News
Irish Times
15-05-2025
- Business
- Irish Times
Ireland slips two places in 2024 global competitiveness league
Ireland's position in a global ranking of economic competitiveness would have improved last year if a different economic growth metric had been used to benchmark the economy's performance, the National Competitiveness and Productivity Council (NCPC) has said. The Republic slipped two places to fourth in the Institute of Management Development (IMD) world Competitiveness Yearbook 2024, published last June. At the time, the NCPC said the drop, which still saw the Republic placed in the top five for the second consecutive year, was largely down to a slowing down of economic growth as measured by gross domestic product (GDP). However, issues with using GDP – the total value of goods and services produced within the economy – to measure performance have been well documented, due to the distorting impact of the multinational sector here. READ MORE Some economists instead use modified gross national income, otherwise known as GNI*, a measure of economic growth that seeks to strip out the impact of intellectual property values related to large multinationals anchored in the Republic. In a statement on Thursday, the NCPC said if GNI* is substituted into the IMD's world Competitiveness framework, the economy would have placed third in the global rankings rather than fourth. The Republic's economic performance score would also have improved as well as its infrastructure score. The research highlights the need to interpret international rankings 'critically', said the NCPC. 'While international rankings are valuable tools, they must be used with care,' said Frances Ruane, economist and had NCPC chair. 'For Ireland, where GDP can significantly overstate economic capacity, GNI* offers a more appropriate lens for understanding our true performance.' She said: 'This research by the NCPC Secretariat helps support more informed, evidence-based policymaking, and will be used when evaluating all future releases of the IMD indicators.'
RTÉ News
15-05-2025
- Business
- RTÉ News
New economic indicator shows improvement in Ireland's competitiveness ranking
New research has shown that Ireland's international competitiveness ranking would improve if Modified Gross National Income (GNI*) is used as an economic indicator instead of Gross Domestic Product (GDP). GNI* is seen as a more accurate measure of the domestic economy as it excludes much of the impact of the multinational sector. The National Competitiveness and Productivity Council (NCPC) has published research re-estimating Ireland's performance in the IMD World Competitiveness Ranking 2024. The study shows that the country rises by one position in the ranking, with improvements in three of the four pillars, when key metrics are recalibrated to better reflect the scale of the domestic economy. The IMD World Competitiveness Ranking is a widely used international benchmark, assessing over 60 economies across four key pillars and 20 sub-pillars, and based on 250 individual measures. The estimate shows notable gains in economic performance and infrastructure, business efficiency is unchanged, while Government efficiency declines slightly. "This reassessment of Ireland's competitiveness provides a more accurate and meaningful picture of our economic strengths and vulnerabilities, and how these impact on our international competitiveness performance," said Dr Frances Ruane, the Chair of the NCPC. "This research highlights the importance of interpreting international indices critically, and ensuring that benchmarking exercises reflect the realities of our domestic economy," Dr Ruane added.
Irish Times
29-04-2025
- Business
- Irish Times
The Irish Times view on competition in banking: work to be done
The National Productivity and Competitiveness Council ( NCPC) serves a useful role in trying to prod the Government into action on measures to increase competition to the benefit of consumers and businesses. Its latest review of its recommendations from 2020 to 2023 – and what action they led to – is perhaps too kind to the previous administration and the current one. Much of what has been done could be defined as process – reports and studies completed, for example – which are important, but no substitute for action. And in other cases Ministers claim to have taken reports on board – such as those by the commissions on housing and on tax and welfare– but have not taken up the reform agendas outlined in any meaningful way. There have been areas of real progress, for example on personal injury claims, but they are sporadic. One area which the NCPC has usefully put in focus is retail banking, where both businesses and households continue to pay higher borrowing rates than their EU counterparts. Lack of competition, resulting from the long shake out in the banking sector after the financial crash and the departure of Ulster Bank and KBC, is a key factor. As the report points out, earlier this year interest rates on SME loans averaged 5.66 per cent in Ireland, versus a euro area average of 3.97 per cent. There has been a welcome influx of smaller and non-bank players in some parts of the market, but overall competition is lacking. And, as an official Retail Banking Review published in 2022 points out, smaller players, reliant on wholesale funding, can struggle to compete over the business cycle against the big institutions, which have a huge base of personal deposits. READ MORE There is no quick answer here, but the review pointed out a range of areas where progress could be made to encourage competition. However, a suspicion remains, that, scarred by the crash, Government officials and the Central Bank still prefer to go softly-softly which lets the banks siphon excess profits out of the market, rather than pushing for value for customers.
Business Mayor
29-04-2025
- Business
- Business Mayor
Banking, housing remain challenges to Ireland's competitiveness, NCPC report says
The Government has made 'substantial progress' on key recommendations for the economy's competitiveness, but further work is needed in housing and retail banking competition, a new report has said. The review from the National Competitiveness and Productivity Council said vital competitiveness areas covering planning delays, energy infrastructure, and meeting climate targets also required more action. The report looked at 79 recommendations made between 2020 and 2023 and concluded that the Government had fully delivered on 45, with the remaining 34 classed as 'in progress'. Among the key areas reviewed were macroeconomic sustainability, business environment, education and skills, and technology and innovation. Of those 34, some have been consistently highlighted by the NCPC in previous reports. In retail banking, for example, the council noted it had highlighted the lack of robust competition in three separate recommendations, and noted there was a need for greater urgency in following through on the outcomes. The report found interest rates for loans to non-financial corporations in Ireland have been consistently higher than in euro area overall, impacting small and medium sized enterprises. The review is the first by the council that looks at the degree of progress made by Government on delivering on each of its previous recommendations. The organisation makes up to 20 recommendations each year to the Government in its Competitiveness Challenge report. Competitiveness has become a key issue at EU level, with the bloc seeking to close the innovation gap with the US. The NCPC report also noted that Ireland performs well in basic digital skills, but is falling behind its EU peers in scientific infrastructure and certain research and development metrics. 'The lack of progress on these recommendations – in particular, given the innovation gap between Europe and US – underscores the scope for improvement,' the report said. Decarbonisation, particularly in the gas network, climate goals and progress on the R&D tax credit are also areas in which Ireland still needs to make progress, the NCPC said.
