Earnings – Overseas

Although the macroeconomic indicators proved better than expected, the government kept the forecast remittance growth at 5 percent for the year, regulators said on Monday.

The National Economic and Development Authority is saying that the Philippine economy is becoming less dependent on remittances from overseas Filipino workers in the past three years. Rosemarie Edillon, NEDA National Planning and Policy Staff director, said that the Philippines’ net primary income, or the difference between the money received abroad and the money paid…

The Philippines is no longer heavily dependent on foreign remittances as shown by the consistent faster growths in the value of goods and services produced within the country as compared to the increments in the income from abroad, the National Economic and Development (Neda) said.

GROWTH in remittances sent home by Flipinos living and working abroad slowed to a 15-month low in June, data from the Bangko Sentral ng Pilipinas (BSP) showed.

The Cebuana Lhuiller Pawnshop’s Pera Padala is still the preferred money remittances service of Filipinos worldwide. With over 1,400 Cebuana Lhuiller Pawnshop branches nationwide, it offers convenient, fast and reliable money remittance service for Filipinos.

MANILA, Philippines – British banking giant Hong Kong and Shanghai Banking Corp. (HSBC) expects remittances from overseas Filipino workers (OFWs) growing by 5.4 percent this year.

The Bangko Sentral ng Pilipinas (BSP) said personal remittances from overseas Filipinos (OFs) amounted to $1.9 billion in April 2012, rising by 5.5 percent year-on-year.

MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) said consumption spending would likely remain robust and fuel higher economic growth this year amid the expected slowdown in the amount of money sent home by Filipinos abroad.

MANILA, Philippines—Remittances grew at a faster pace in November even though two of the Philippines’ key labor markets—the United States and Europe—continued to be plagued by economic problems.

MANILA, Philippines—Remittances sent to the Philippines by migrant Filipinos are expected to still grow this year despite mounting fiscal and economic problems confronting the United States and eurozone economies.

MANILA, Philippines – The Trade Union Congress of the Philippines (TUCP) said it expects Filipino sailors’ remittances to surpass $4 billion this year “amid resilient global demand for their services.”

MANILA, Philippines – Despite a weakening global economy, demand for services of Filipino sailors remains high, and a leading labor center expects this to be reflected in the money they send home for the entire 2011, projected at $4 billion.

MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) reported yesterday that remittances by Filipinos working abroad climbed 6.3 percent in the first seven months of the year on the back of the sustained demand for skilled Filipino manpower amid the economic growth concerns in the US, the debt crisis in Europe, as well as…

MILAN, Italy – Many Filipino workers in Italy are against the imposition of a 2% tax on remittances sent by foreign migrant workers to their countries of origin. The new tax is part of the Italian government’s austerity measures, as it attempts to stave off a debt crisis in the eurozone’s third largest economy.

Can the role of our overseas workers in the economy be enhanced to make them true-blue “mga bagong bayani?” Besides spending their hard-earned money on food, appliances, real estate and other nonproductive or dormant assets, can OFWs be enticed to go into business or other productive activities that generate continuing income for them, their families…

MONEY sent home by Filipinos working abroad continued to improve in May despite the uncertainties overseas, the Bangko Sentral ng Pilipinas (BSP) said Friday. In a statement, BSP Gov. Amando Tetangco Jr. said remittances coursed through banks reached $7.9 billion in the first five months of the year, up 6.2 percent from the year-ago $7.4…

First of two parts (Ric Saludo’s colleague Bill Huang contributed this guest column.) WITH the successful auction of Overseas Filipino Worker (OFW) bonds in April— $416 million in three-year and five-year bonds with dollar and euro denominations—the government has taken an important first step in mobilizing OFW remittances for investment. And in the nick of…

Remittance flows from “professionals” and “technicians and associate professionals” plummeted sharply in calm 2010 after rising markedly in crisis-laden 2009, a government survey showed.

MANILA, Philippines – Remittances from overseas Filipino workers (OFWs) climbed six percent in the first four months of the year after recovering from a steady slowdown since November last year on the back of strong demand for skilled Filipino workers, the Bangko Sentral ng Pilipinas (BSP) reported yesterday.

FIRST Metro Investment Corp. (FMIC) and University of Asia and the Pacific (FMIC-UA&P) said remittances will pick up in the near term, before slowing down toward the second half in view of the conflict in the Middle East-North Africa area.

MANILA, Philippines – The Philippines emerged as the world’s fourth biggest recipient of remittances in 2010, behind India, China and Mexico, according to a report released recently by the World Bank (WB).

MANILA, Philippines – Dutch-owned financial giant ING BV said it expects the growth in the amount of money sent home by Filipinos abroad to their loved ones in the Philippines to ease to five percent this year before improving to six percent next year, but would continue to cover the country’s trade deficit.

The country’s huge dependence foreign remittances had reached an alarming level that money transfers has overtaken agricultural output as primary source of income in the rural areas, according to a private study.

MANILA, Philippines – Vice president Jejomar Binay recommended yesterday the creation of an overseas Filipino workers (OFWs) Bank that will provide OFWs competitive and cheaper remittance rates.

THE latest data on overseas Filipino worker (OFW) remittances should dispel concern over a possible economic slowdown in the fourth quarter of this year.

REMITTANCES from overseas Filipino workers (OFWs) reached a record this year in October, the Philippine central bank said. In a statement, the Bangko Sentral ng Pilipinas (BSP) said money sent home by OFWs through banks rose by 9.3 percent to reach $1.7 billion in October compared with the $1.531 billion in the same month last…

MANILA, Philippines – Dollar remittances in September posted a double-digit growth for the first time since December last year as overseas Filipino workers (OFWs) sent more money to their loved ones in the Philippines in time for the Christmas season, the Bangko Sentral ng Pilipinas (BSP) reported yesterday.

Money sent home by overseas Filipino workers (OFWs) is likely to grow by 7.8 percent this year, according to a new World Bank report. In its “Migration and Remittances Factbook 2011,” the Washington-based lender said that OFW remittances will reach $21.31 billion this year from P19.77 billion last year.

MANILA, Philippines – The Philippines ranks as the fourth biggest recipient of remittances worldwide with an estimated $21.3-billion inflow this year, a new World Bank study showed.

WASHINGTON DC, United States—Migrants are continuing to send sizeable sums of money to their home countries despite the economic downturn, with 2010 remittances totaling some 325 billion dollars, a World Bank report said Monday.