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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 »

6K seafarers, OFWs joining expo

More than 6,000 seafarers, mariners and overseas Filipinos worldwide (OFWs) are expected to take advantage of the business opportunities, Christmas sale and Family Fun Day at the Mega Balikbayan/OFW Expo slated at the SMX Convention Center Metro Manila on Dec. 10 to 11.

Posted: November 9th, 2013 in Headlines | Read More »

Remittances rose by 6.8% in August

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Money sent home by overseas Filipino workers (OFW) continued to rise in August, helping sustain consumer demand that drives the local economy, according to the Bangko Sentral ng Pilipinas (BSP).

Posted: October 17th, 2013 in Editor's Pick,Headlines | Read More »

Sterling Bank rolls out deposit product for OFWs

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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

Thrift bank Sterling Bank of Asia seeks to promote the habit of saving among overseas Filipinos with the rollout of a new deposit product that waives the initial deposit and minimum maintaining balance requirements for this sector.

Posted: September 24th, 2013 in Latest Business Stories | Read More »

Robust remittance inflow protects PH, Citi says

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AFP FILE PHOTO

Remittances from overseas Filipino workers (OFW) will remain among the country’s main sources of strength, protecting the local economy from volatile market conditions caused by external shocks.

Posted: July 17th, 2013 in Latest Business Stories | Read More »

Dollar remittances expected to increase

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Metrobank expects remittances from overseas-based Filipinos to grow by at least 6 percent this year and sustain robust household consumption in the country.

Posted: April 18th, 2013 in Headlines | Read More »

Gov’t encourages OFWs to start their own firms

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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

The government is beefing up efforts to reintegrate returning overseas Filipino workers (OFWs) through programs encouraging them to start businesses, the National Economic and Development Authority (Neda) said.

Posted: February 11th, 2013 in Latest Business Stories | Read More »

I-Remit ties up with Palawan Pawnshop

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i-remit

The cash transfer company i-Remit Inc. has expanded its local remittance business by signing a partnership with pawnshop operator Eight Under Par Inc., more commonly known as Palawan Pawnshop.

Posted: January 30th, 2013 in Uncategorized | Read More »

Thousands of OFWs venture into business—Labor dep’t

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From overseas Filipino workers to entrepreneurs. Many OFWs have started to believe there are better opportunities beyond overseas work as more than 3,700 returning OFWs, including those who were repatriated from troubled countries, have ventured into business in 2012, according to the Department of Labor and Employment.

Posted: December 28th, 2012 in Latest Business Stories | Read More »

Remittances hit new high in Oct.

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Remittances reached a record high in October as global demand for Filipino workers remained strong despite the lingering crisis in the United States and Europe.

Posted: December 17th, 2012 in Headlines | Read More »

Peso slightly up as OFWs send more holiday remittances

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Demand by foreigners for peso-denominated stocks, bonds and other financial instruments helped foreign portfolio investments hit the highest in a decade in 2012, although the net inflow of foreign hot money was down year on year by about 5 percent.  AFP PHOTO

The peso inched up slightly on Tuesday as the Christmas season prompted overseas-based Filipinos to send more money to their families and as investors kept a positive outlook on the Philippine economy.

Posted: December 4th, 2012 in Latest Business Stories | Read More »

Aquino warned economic gains unsustainable

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President Benigno Aquino III. FILE PHOTO

External factors, such as inflows from overseas Filipino workers (OFW) and the Business Process Outsourcing (BPO) sector, were the reasons for the 7.1 percent economic growth of the country but the gains are unsustainable in the long term, a militant leftist group warned Thursday.

Posted: November 29th, 2012 in Latest Business Stories | Read More »

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