Earnings – Overseas

World Bank cites RP bucking remittance downtrend

Published by rudy Date posted on November 11, 2009

MANILA, Philippines – Against the backdrop of a global economy weakened by recession, remittance inflows to developing countries are seen to drop six percent in 2009, a recent World Bank study said.

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Doing the right thing, at least for a while

Published by rudy Date posted on November 3, 2009

The oil price-cap protection that the government is imposing through Executive Order 839, which requires oil firms to temporarily peg prices of their products at their October 15 levels, and until the declaration of a state of calamity in Luzon is lifted, may not offer as much protection as we think.

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Remittances via informal channels dip

Published by rudy Date posted on October 30, 2009

MANILA, Philippines–Remittances sent through informal channels continued to decline, amounting to only less than 4 percent of total money from abroad.

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Contribution of remittances to GNP seen shrinking

Published by rudy Date posted on October 29, 2009

REMITTANCES SENT by Filipinos overseas, which now account for 10 percent of the gross national product, may no longer contribute as much to the economy seven years from now.

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Drop remittance tax, labor group asks

Published by rudy Date posted on October 19, 2009

MANILA, Philippines—A moderate labor organization on Sunday joined calls for the scrapping of the documentary stamp tax (DST) charged on remittances of overseas Filipino workers using the banking system.

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TUCP urges government to stop OFW remittance tax

Published by rudy Date posted on October 19, 2009

MANILA, Philippines – The government was urged yesterday to stop collecting taxes on remittances from overseas Filipino workers.

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OFW remittances up 2.8% to $1.4 billion in Aug

Published by rudy Date posted on October 16, 2009

MANILA, Philippines – Remittances from overseas Filipino workers (OFWs) went up by 2.8 percent in August on the back of the steady deployment of Filipino workers abroad and the increasing number of remittance centers worldwide, the Bangko Sentral ng Pilipinas reported yesterday.

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Higher BOP surplus, remittance forecast set

Published by rudy Date posted on October 15, 2009

The Bangko Sentral ng Pilipinas (BSP) raised its forecast for the country’s dollar surplus, citing robust remittance inflows and foreign investments.

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BSP revises forecasts on remittances, GIR, other economic indicators

Published by rudy Date posted on October 14, 2009

MANILA,Oct. 14 (PNA) – The Bangko Sentral ng Pilipinas (BSP) has revised its projections on remittances and dollar reserves as inflows of money being sent home by Overseas Filipinos (OFs) continue to remain strong.

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Metrobank, UA&P see higher remittances, 2.2% GDP growth

Published by rudy Date posted on October 6, 2009

MANILA, Philippines – The Metrobank Group and the University of Asia and the Pacific (UA&P) are expecting a 3.5-percent increase in remittances this year despite the global economic slowdown.

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Remittances to post double-digit growth – BPI

Published by rudy Date posted on September 30, 2009

MANILA, Philippines – The Ayala-controlled Bank of Philippine Islands (BPI) is projecting a double-digit growth in its remittances this year, better than industry expectations, its top executive said yesterday.

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Remittances seen up by 3% in 2009

Published by rudy Date posted on September 25, 2009

THE BANGKO SENTRAL NG Pilipinas expects remittances to grow by more than 3 percent this year. Under the BSP’s original forecast, remittances was supposed to register a flat growth this year from last year’s $16.4 billion.

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OFW remittances seen to grow by over 3% this year

Published by rudy Date posted on September 23, 2009

MANILA, Philippines – Dollar remittances from overseas Filipino workers may grow by more than three percent this year following the hefty dollar inflows that poured into the country in July, BSP Governor Amando Tetangco Jr. said yesterday.

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OFW remittances accelerate in July

Published by rudy Date posted on September 16, 2009

The funds sent home by overseas Filipino workers (OFWs) grew faster in July as the global economy has started to stabilize, the Bangko Sentral ng Pilipinas (BSP) announced Tuesday.

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OFW remittances hit $10 billion in January-July

Published by rudy Date posted on September 16, 2009

MANILA, Philippines – Remittances from overseas Filipino workers (OFWs) surged to $1.5 billion in July, posting the highest year-on-year growth for 2009 at 9.3 percent, the Bangko Sentral ng Pilipinas (BSP) reported yesterday.

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More OFW families turn to savings

Published by rudy Date posted on September 14, 2009

MORE HOUSEHOLDS ARE NOW saving the money sent to them by relatives working abroad, a survey by the Bangko Sentral ng Pilipinas showed. The quarterly survey involved 486 OFW households.

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Nomura sees slump in OFW remittances

Published by rudy Date posted on September 8, 2009

MANILA, Philippines -Dollar remittances from overseas Filipino workers (OFWs) may dwindle and this could be a threat to economic growth, Nomura International Ltd. said in a report released during the weekend.

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$326 maid pay not feasible

Published by rudy Date posted on September 7, 2009

PETALING JAYA – INDONESIA’S demand that its maids be paid a minimum RM800 (S$326) monthly salary has hit a raw nerve among Malaysians.

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Lower remittance charges

Published by rudy Date posted on September 1, 2009

Instead of begging for more US development aid, the Philippine government should push for lower money transfer charges, which would essentially allow more remittances from migrant Filipino workers to flow into the Philippine economy.

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Remittances

Published by rudy Date posted on August 26, 2009

With about 12 million overseas workers the Philippines qualifies as a case study in mobility of labor. Of course it is not only the Philippines that exports skilled labor all over the world—the value of remittances in 2008 included the following top five countries: India, $45 billion; China, $34 billion; Mexico, $26 billion; Philippines, $18…

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BPI forecasts double-digit growth in remittances

Published by rudy Date posted on August 25, 2009

MANILA, Philippines – The Bank of the Philippine Islands (BPI) is optimistic that the remittance business in the Philippines will expand on the higher end of the single-digit growth this year.

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Remittances hit $8.5 billion in first 6 months

Published by rudy Date posted on August 18, 2009

MANILA, Philippines – Millions of Filipinos working overseas sent home a record high $1.5 billion in June, up 3.3 percent from last year, allaying fears that remittances will dry up amid the global slowdown.

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Oppressive remittance costs

Published by rudy Date posted on August 18, 2009

Migrant Filipino workers in the United States spend an average of $12 79 to send $500 home to their families in the Philippines, or an average of $11 45 to remit $200

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Remittances continue to grow despite crisis

Published by rudy Date posted on August 18, 2009

Remittances continued to post a modest increase in the first six months, the Bangko Sentral ng Pilipinas (BSP) said Monday.

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Low-skilled workers are the top remitters

Published by rudy Date posted on August 17, 2009

Low-skilled overseas workers are the country’s top senders of money from abroad.

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HSBC amazed at remittances

Published by rudy Date posted on August 12, 2009

HSBC has kept its 1-percent growth forecast for the Philippines, but yesterday admitted that its initial expectation of a 20-percent decline in remittances was “wrong.”

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According to World Bank study, Filipinos in Italy pay most to remit money

Published by rudy Date posted on August 10, 2009

MANILA, Philippines—Filipinos around the world pay between $6.93 and $19.05 to remit $200 to their families back home, the Trade Union Congress of the Philippines (TUCP) quoted a World Bank study of global money transfer charges as of the first quarter of 2009.

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OFWs paying oppressive remittance fees – Herrera

Published by rudy Date posted on August 10, 2009

MANILA, Philippines – Migrant Filipino workers are paying “oppressive and burdensome” fees to send money back home to their families in the Philippines, a labor leader said yesterday.

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According to World Bank study, Filipinos in Italy pay most to remit money

Published by rudy Date posted on August 9, 2009

MANILA, Philippines—Filipinos around the world pay between $6.93 and $19.05 to remit $200 to their families back home, the Trade Union Congress of the Philippines (TUCP) quoted a World Bank study of global money transfer charges as of the first quarter of 2009.

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DoLE project sustained OFW remittances this year

Published by rudy Date posted on July 31, 2009

If the current trend is sustained, remittances from overseas Filipino workers (OFWs) this year may likely equal if not surpass the $17 billion registered last year, the Department of Labor and Employment (DoLE) said yesterday.

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