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Growth in OFW remittances slowed to 5.6% in February

Growth in remittances from migrant workers slowed to an 11-month low in February despite the sustained demand for Filipino labor in developed countries, the Bangko Sentral ng Pilipinas (BSP) reported on Tuesday.

Posted: April 16th, 2014 in Headlines | Read More »

Remittance growth slows down

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FILE PHOTO

Growth in the amount of money sent home by overseas Filipino workers slowed down in February despite sustained demand for skilled labor in developed economies like the US, Japan, and Canada.

Posted: April 15th, 2014 in Latest Business Stories | Read More »

January remittances up 5.9% to $1.8B

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AFP FILE PHOTO

Money transfers by migrants rose faster than expected in January amid strong demand for Filipino labor and as workers sent home more cash to fund the reconstruction of areas affected by Supertyphoon “Yolanda.”

Posted: March 18th, 2014 in Editor's Pick,Headlines | Read More »

Pension fund to put up more branches abroad

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The Social Security System (SSS) plans to put up two more branches abroad this year, including one in Toronto, Canada, as it targets a double-digit rise in contributions from overseas Filipino workers.

Posted: March 10th, 2014 in Headlines | Read More »

SSS contributions up as OFWs help raise ante

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Contributions of overseas Filipino workers (OFWs) to the Social Security System jumped in 2013 as more migrant workers appreciated the value of being members of the state pension fund.

Posted: March 3rd, 2014 in Headlines | Read More »

Remittance money spent on wants not needs?

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OFWs from Libya: Philippine companies, like AG&P, looks to “pirating overseas Filipino workers as one of their strategies in expanding their workforce. INQUIRER PHOTO/RODEL  ROTONI

Overseas Filipino workers (OFWs) send millions of dollars in remittances back to their families in the Philippines, but is the money being spent on needs instead of wants?

Posted: February 26th, 2014 in Latest Business Stories | Read More »

Remittances hit all-time high in 2013

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Filipino domestic helpers line up to send money at a remittance center in the central district of Hong Kong in this 2008 file photo.  AFP/TED ALJIBE

Cash sent home by migrant workers, one of the main drivers of the country’s economic growth, rose to record levels last year despite the continued weakness of the global economy.

Posted: February 18th, 2014 in Editor's Pick,Headlines | Read More »

PH ends 2013 with $5.08-B BOP surplus

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AFP FILE PHOTO

The country posted a surplus in its foreign income position for the ninth consecutive year in 2013 amid the continued growth of remittances from migrant workers and increased revenue from tourism and the business process outsourcing (BPO) sector.

Posted: January 20th, 2014 in Editor's Pick,Featured Gallery,Headlines | Read More »

OFW remittances to increase by 8.5% in 2014—Standard Chartered

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AFP FILE PHOTO

Overseas remittance flows to the Philippines will likely expand at a faster pace of 8 to 8.5 percent in 2014 on improved global growth prospects and post-supertyphoon “Yolanda” (Haiyan) reconstruction, according to the British bank Standard Chartered.

Posted: January 13th, 2014 in Latest Business Stories | Read More »

Remittances seen to calm markets, support peso

Cash from overseas Filipino workers (OFWs) will continue to serve as one of the main buffers of the Philippine economy from possible shocks caused by the shifting monetary policy settings in the United States.

Posted: December 31st, 2013 in Headlines | Read More »

At the market, bulls refuse to be cowed

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The good news is the local stock market ended higher for the fifth straight year despite the external shocks of 2013. The bad news is local equities remained in bear territory at its yearend level of 5,889.83, having pulled back by 20.4 percent from its 2013 peak of 7,403.65. Tapering has definitely been the year’s [...]

Posted: December 29th, 2013 in Headlines | Read More »

Remittances hit all-time high in October

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REMITTANCES STILL UP  Customers count Philippine peso at a moneychanger in Manila in this 2007 file photo. Cash remittances from overseas Filipinos reached $13.02 in the eight months to August 2011, up 6.9 percent from the same period last year. Remittances by Filipinos abroad are a key driver of growth for the Philippine economy.  AFP PHOTO/ROMEO GACAD

Cash sent home by overseas Filipino workers (OFWs) grew at its fastest pace in nine months to reach an all-time high of $2.06 billion in October, data released by the Bangko Sentral ng Pilipinas on Monday showed.

Posted: December 16th, 2013 in Editor's Pick,Headlines | Read More »

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