Earnings – Overseas

Feb remittances grow 7.1% to $1.4-B

Published by rudy Date posted on April 16, 2010

MANILA, Philippines – Money sent home by overseas Filipinos grew 7.1% in February, the Bangko Sentral ng Pilipinas (BSP) reported on Friday.

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OFW families now saving more for the future

Published by rudy Date posted on March 29, 2010

MANILA, Philippines – More beneficiaries of overseas Filipino workers (OFWs) are turning to savings to secure their future, data from the Bangko Sentral ng Pilipinas (BSP) showed.

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More OFW beneficiaries setting aside savings

Published by rudy Date posted on March 28, 2010

The number of overseas Filipino worker (OFW) beneficiaries that allocated part of their remittance proceeds to savings picked up in the first quarter of this year, according to the Bangko Sentral ng Pilipinas (BSP). In its latest Consumer Expectations Survey, the BSP said the percentage of OFW households that allocated a portion of their remittances…

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Migrants are buying more houses, says survey

Published by rudy Date posted on March 27, 2010

More families of migrant Filipino workers have recently acquired houses, supporting the growth of the remittance-driven real estate industry.

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How 2 regions ‘efficiently use’ OFW money for dev’t

Published by rudy Date posted on March 16, 2010

MANILA – Philippine regions with higher growth rates used remittances for development efficiently, a paper by a University of Santo Tomas economist finds.

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OFW inflows up 8.5% to $1.372 billion in January

Published by rudy Date posted on March 16, 2010

MANILA, Philippines – Money sent home by overseas Filipino workers (OFWs) surged by 8.5 percent to $1.372 billion in January or $107 million more than the $1.265 billion sent home in the same period last year, the Bangko Sentral ng Pilipinas (BSP) reported yesterday.

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OFW dollar windfall inflicts ‘Dutch Disease’ on economy

Published by rudy Date posted on March 15, 2010

MANILA, Philippines – Awash with dollars from $18 billion in overseas Filipino workers’ (OFW) remittances a year, the Philippine economy is now afflicted with the Dutch Disease, a malady that sees the decline of local industries, fuels an overvalued peso, makes exports costly and imports cheap and results in jobless growth.

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OFW inflows seen to grow 9% this year

Published by rudy Date posted on March 4, 2010

MANILA, Philippines – Remittances from overseas Filipinos are forecast to grow by up to nine percent in 2010 as demand for Filipino workers remains strong, a report by First Metro Investment Corp. (FMIC) and the University of Asia and the Pacific (UAP) said.

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Pinoy seamen’s remittances up

Published by rudy Date posted on February 28, 2010

MANILA, Philippines – Filipino sailors working on foreign vessels have remitted a total of $3.4 billion in 2009, up by 12 percent from $3.043 billion in 2008, the Trade Union Congress of the Philippines (TUCP) said yesterday.

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OFW inflows have limited effect on economy, says Paderanga

Published by rudy Date posted on February 22, 2010

MANILA, Philippines – An economist said the record remittances sent home by Filipinos abroad has yet to result to stronger economic growth due to reduced multiplier effect as a result of benign microeconomic environment.

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Remittances from Pinoy workers declining—ADB

Published by rudy Date posted on February 1, 2010

The Asian Development Bank has warned about a decline in remittances from migrant Filipino workers in the coming years amid a slowdown in deployment of Filipino professionals abroad and drop in inflows from several Asian countries.

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Remittances not sufficient for long-term growth

Published by rudy Date posted on February 1, 2010

Remittances from overseas Filipinos can lick poverty in the Philippines, but cannot rebalance economic growth, according to an Asian Development Bank (ADB) study.

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OFW remittances up 11.3% in November

Published by rudy Date posted on January 16, 2010

MANILA, Philippines – Money sent home by Filipinos abroad accelerated to its fastest level in 14 months due to the continued deployment of skilled workers abroad, Bangko Sentral ng Pilipinas (BSP) Governor Amando M. Tetangco Jr. reported yesterday.

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Poor nations seen to get lower inflows

Published by rudy Date posted on January 2, 2010

MANILA, Philippines – A study by the World Bank is projecting that remittance flows to developing countries will reach $317 billion in 2009, down by 6.1 percent from the $338 billion in 2008. The projection was based on data for the first three quarters of 2009.

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BSP wants further cut in remittance fees

Published by rudy Date posted on December 28, 2009

MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) is set to push for the further reduction of remittance fees this year to help advance the welfare of the families of Filipinos working overseas.

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Remittances seen to stagnate

Published by rudy Date posted on December 21, 2009

OVERSEAS Filipino workers (OFWs) remittances are likely to stagnate, and not contract, because of the global economic slowdown and the Dubai debt crisis, according to the Asian Development Bank (ADB). “For the Philippines, we do not see evidence of a dramatic plunge in workers’ remittances as a result of the current recession. The evidence suggests…

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Remittances may cause inflation

Published by rudy Date posted on December 17, 2009

REMITTANCES can generate inflationary pressures or cause a Dutch Disease, warned the Asian Development Bank (ADB). In a study titled “Remittances in Asia: Implications for the Fight against Poverty and the Pursuit of Economic Growth,” the Manila-based lender said remittances may have adverse consequences, having both economic and social dimensions.

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OFW inflows hit new high of $1.53 billion in October

Published by rudy Date posted on December 16, 2009

MANILA, Philippines – Money sent home by overseas Filipino workers (OFWs) went up by 6.7 percent to $1.53 billion in October, the highest monthly remittance level recorded so far, the Bangko Sentral ng Pilipinas (BSP) reported yesterday.

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Overseas remittances hit record high in October

Published by rudy Date posted on December 15, 2009

MANILA, Philippines (Xinhua) — Remittances from overseas Filipino workers (OFWs) coursed through banks rose 6.7 percent on year to a record high of 1.5 billion U.S. dollars in October on continued global demand for Philippine labor, the Philippine central bank reported Tuesday.

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OFW families turning to savings and investments

Published by rudy Date posted on December 15, 2009

MANILA, Philippines – Beneficiaries of remittances from overseas Filipino workers (OFWs) are turning to savings and investments to survive the uncertainty brought about by the global financial crisis, data from the Bangko Sentral ng Pilipinas (BSP) showed.

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BSP projections aiding illegal recruiters — FAME

Published by rudy Date posted on December 14, 2009

MANILA, Philippines — Recruitment agencies warned the Bangko Sentral ng Pilipinas (BSP) against making statements about the expected rise in remittances from overseas Filipino workers (OFWs) in countries where the Philippine government has been negotiating for more job opportunities for them.

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Filipino sailors remit record $2.5B in 9 months

Published by rudy Date posted on December 9, 2009

SAYS TUCP MANILA, Philippines — The money sent home by overseas Filipino sailors rose by $108 million or 4.51 percent to a new record of $2.501 billion in the nine months to September this year, from $2.393 billion over the same period in 2008, the Trade Union Congress of the Philippines (TUCP) said.

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Kidnap-prone Filipino seafarers keep remittances afloat at $2.5 billion

Published by rudy Date posted on December 8, 2009

Amid the threat of kidnappings in the high seas, Filipino seafarers remitted a record $2.502 billion from January to September this year, the Trade Union of the Philippines (TUCP) said.

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Dubai crisis to cost RP $300 million in remittances

Published by rudy Date posted on December 7, 2009

MANILA, Philippines – The country faces as much as a $300-million drop in remittances from overseas Filipino workers (OFWs) due to the debt crisis in Dubai, the country’s largest labor group warned yesterday.

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Deduction of transfer fee from OFW remittances

Published by rudy Date posted on December 5, 2009

Dear PAO, I would like to ask if the bank has the right to deduct 2 percent to 2.7 percent from my remittance to my family. Rino O. Frayna

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BSP, banks sign deal to cut remittance fees

Published by rudy Date posted on December 3, 2009

Bangko Sentral and banks yesterday signed an agreement that will reduce back-end remittance service fees to just P50 per transaction for those that use the central bank’s Philippine.Payments and Settlement System.

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Metrobank unit sees 4%-6% growth in OFW remittances

Published by rudy Date posted on December 3, 2009

MANILA, Philippines – First Metro Investment Corp. (FMIC), the investment arm of the Metrobank Group, said it expects a four- to six-percent growth in remittances this year despite a strengthening peso against the dollar.

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OFWs to save up to P922 million from lower fees

Published by rudy Date posted on December 3, 2009

MANILA, Philippines – Families of Filipinos working and living abroad are expected to save at least P92 million to as high as P922 million after the Bangko Sentral ng Pilipinas (BSP) and a group of universal as well as commercial banks inked an agreement reducing the fees on fund transfers.

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Overseas Pinoys send home more money due to calamities

Published by rudy Date posted on December 1, 2009

MANILA, Philippines – Due to recent calamities that hit the country and the coming Holiday season, Filipino workers in Canada and other countries have sent home more money to their families back home.

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Banks account for 76% of remittances

Published by rudy Date posted on November 28, 2009

Banks facilitated only about 76 percent of total cash remittances sent by Filipino workers overseas to the Philippines last year, according to the 2008 Survey on Overseas Filipinos.

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December – Month of Overseas Filipinos

“National treatment for migrant workers!”

 

Invoke Article 33 of the ILO constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of Forced Labour and Freedom of Association protocols.

 

Accept National Unity Government
(NUG) of Myanmar.
Reject Military!

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