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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 »

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 »

OFW remittances grew by 7.2% to $20.1-B in 2011 — BSP

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Remittances to the country reached an all-time high of over $20 billion last year as demand for Filipino workers remained strong even amid economic and political challenges confronting labor markets in the West and the Middle East.

Posted: February 15th, 2012 in Latest Business Stories | Read More »

WB sees OFW remittances rising to $23B in 2011

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The World Bank expects remittances to the Philippines to hit $23 billion in 2011 on the account of rising demand for Filipino workers despite the unfavorable global economic climate.

Posted: December 1st, 2011 in Latest Business Stories | Read More »

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