Philippine remittances for November 2017 grow by only 2%

MANILA, Philippines – Money sent home by overseas Filipinos (OFs) last November grew by only 2% year-on-year to $2.3 billion, partly because of base effects, after remittances in the same month in 2016 saw an "unusually high" growth in over 8 years. Back in November 2016, cash  remittances  spiked by ........»»

Category: newsSource: rappler rapplerJan 15th, 2018

OFW remittances to grow 4.7% in Nov

MANILA, Philippines — The growth in the amount of money sent by overseas Filipino workers (OFWs) is expected to slow down at 4.7 percent in November 2017 due.....»»

Category: financeSource:  philstarRelated NewsJan 15th, 2018

Moving onward and upward

The trust industry of the Philippines saw its assets grow in 2017 on the back of strong macroeconomic fundamentals and favorable investment climate, according to Bangko Sentral ng Pilipinas (BSP). In “A Report on the Philippine Financial System,” BSP said the industry’s total assets reached P3.42 trillion, up 15.9% from 2016. “The expansion in the […] The post Moving onward and upward appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsMay 21st, 2018

PH banks bigger, more profitable despite volatility, says BSP

Philippine banks continued to grow in size and profitability in 2017 despite the volatile market conditions and the increasing sophistication of financial products and services around the world, the Bangko Sentral ng Pilipinas said on Friday. In a press statement, the regulator said the local banking system --- which it described as "the core of the financial system" --- remained sound, as shown by the further strengthening of banks' balance sheets with positive double digit growth in assets, loans, investments, deposits and capital. "Banks sustained their profitability which came from strong interest income from lending activities," the central bank said. For last year, the ban...Keep on reading: PH banks bigger, more profitable despite volatility, says BSP.....»»

Category: newsSource:  inquirerRelated NewsApr 27th, 2018

Brownlee, Balkman help Alab get its first-ever playoff win

History was made on Sunday inside the Filoil Flying V Centre. Getting the better of Saigon, 110-100, in the quarterfinals opener of the 2017-2018 Asean Basketball League, Alab Pilipinas scored its first playoff win in its two years of existence. San Miguel @AlabPilipinas 🇵🇭 claim their first playoff win in franchise history with a win over @SaigonHeat 🇻🇳 110-100.#ABL8Playoffs#MakeHistory — ABL (@aseanbasketball) Abril 1, 2018 The Filipinos made the playoffs in their maiden campaign a year ago, but got swept in the best-of-three series. Now, they raise their post-eliminations record to 1-2. For American reinforcement Justin Brownlee, the win was special – even though he was a little late in fully grasping its significance. Told that he had just helped the new Philippine representatives to their first-ever playoff win, he reacted, “That was the first-ever? Oh wow!” He then continued, “It’s special, man. It always feels great to be the first to be able to do something.” And one win away from winning their first-ever playoff series, Brownlee said this is just the start for them. “This just shows the character of this team. Hopefully, there’s gonna be a lot more playoff wins in the near future,” he said. Indeed, Puerto Rican reinforcement Renaldo Balkman also said this is far from the end for Alab. As he put it, “It’s a great win tonight, but we gotta take care of business on Saturday so we keep moving forward.” Even Ray Parks Jr., who has been with the squad for both of its two seasons, wasn’t celebrating just yet. “It feels great, but we have to continue to grow. We can’t overlook our opponent because they’re a great team and they got firepower,” he said. That is exactly why, even after the 10-point margin of victory, head coach Jimmy Alapag vowed that his wards will be much more determined and disciplined in Game 2 next Saturday at the CIS Arena in Ho Chi Minh City, Vietnam. “I’m happy we won, but from an effort standpoint, we were far from the sharpest we could be,” he said. He then continued, “That’s on me. We will prepare better for (the next game).” --- Follow this writer on Twitter, @riegogogo......»»

Category: sportsSource:  abscbnRelated NewsApr 1st, 2018

Govt OKs P354M for coffee industry

The government has alloted P354.6 million to help the Philippine coffee industry increase its production to 214,626 metric tons (MT) by 2022. According to Agriculture Secretary Emmanuel Piñol, the industry is expected to grow further after the Philippine Coffee Industry Roadmap 2017-2022 was signed last March. “The resources to achieve the growth targets are in [...] The post Govt OKs P354M for coffee industry appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimesRelated NewsMar 28th, 2018

AUB books higher net income in 2017 as businesses grow

ASIA UNITED Bank Corp. (AUB) saw its net income rise in 2017 supported by growth across its businesses. In a disclosure to the Philippine Stock Exchange on Wednesday, the bank said AUB and its subsidiaries booked a net income of P2.8 billion in 2017, 23% higher than the P2.3 billion logged in the previous year. […] The post AUB books higher net income in 2017 as businesses grow appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsMar 21st, 2018

Philippine Azkals back with high spirits, high morale ahead of important matches

New year, fresh start. Heading into an important pair or matches, the Philippine Azkals have been refreshed and rejuvenated, according to team captain Phil Younghusband. Speaking at the pre-match press conference for their International Friendly match against Fiji on Thursday, March 22nd, Younghusband shared that there’s an overall upbeat feeling among the members of the men’s senior national football team. “I think definitely, being with the players three or four times now, spirits are high, everyone’s happy to be with each other.” The Azkals’ match against Fiji will serve as a tuneup for arguably the most important match in Philippine football history, their match against Tajikistan in the final matchday of the 2019 AFC Asian Cup Qualifiers on Tuesday, March 27th. A win over Tajikistan will ensure the Azkals’ entry into the 2019 AFC Asian Cup, a first in Philippine football. When the Azkals saw action in the Asian Cup Qualifiers in early November of 2017, ‘fresh’ wouldn’t be an accurate way to describe the players. The Azkal’s last three AFC Asian Cup Qualifier matches happened within a span of three months, and majority of the National Team callups also had club duties to attend to. Simply put, the players were quite tired. “I think coach mentioned earlier, I think this time around, compared to last year, we had a busier schedule last year and players were doing a lot of travelling, so when we were together, you could sense an air of tiredness,” Younghusband added. Now, the Azkals are coming into their next pair of matches coming off a four-month break and with a lighter schedule. Already, Younghusband sees a change in the atmosphere. “During this camp, everyone seems to have more energy, everyone seems to be laughing more, everyone seems to be smiling more, everyone seems to be more confident,” “I think going into the next two games, against Fiji and against Tajikistan, the players’ morale is very high, it’s good to see.” Younghusband added.   Catch the Azkals as they take on Fiji in an International Friendly Match on Thursday, March 22nd, LIVE on LIGA channel 86 and LIGA HD channel 183. Kickoff is at 7:30 PM......»»

Category: sportsSource:  abscbnRelated NewsMar 21st, 2018

Infra spending expected to boost GDP growth to 6.8%

The Asean+3 Macroeconomic Research Office (Amro) raised to 6.8 percent its 2018 growth forecast for the Philippines with the massive "Build, Build, Build" program expected to boost economic expansion. "After expanding by 6.7 percent in 2017, the Philippine economy is expected to grow by 6.8 percent in 2018 and 6.9 percent in 2019 as exports remain buoyant while budget execution gradually improves," the regional macroeconomic surveillance organization said in a statement. In January, Amro slightly cut to 6.7 percent from 6.8 percent previously its gross domestic product growth forecast for the Philippines, citing "the softening of private sector demand from the third-quarter 2017 GD...Keep on reading: Infra spending expected to boost GDP growth to 6.8%.....»»

Category: newsSource:  inquirerRelated NewsMar 17th, 2018

Sanofi denies concealing Dengvaxia risks from Philippines

MANILA, Philippines – French pharmaceutical giant Sanofi Pasteur denied accusations it concealed risks of its Dengvaxia dengue vaccine from the Philippine government in 2015.  The company's defense: In a statement on Wednesday, February 28, Sanofi said it was only in November 2017 when it  discovered Dengvaxia could ........»»

Category: newsSource:  rapplerRelated NewsFeb 28th, 2018

FDI inflows exceed 2017 goal with December figure still untallied

Foreign direct investments into the country in the first 11 months of 2017 exceeded the full year target as local units for overseas firms benefited from the inflow of capital to fund their expansion plans, the Bangko Sentral ng Pilipinas said on Monday. As a result of these developments, FDI recorded net inflows of $8.7 billion during the period January-November 2017, exceeding the $8 billion projection for 2017. "The sustained FDI inflows reflected investor confidence given the Philippine economy's solid macroeconomic fundamentals and growth prospects," BSP Gov. Nestor Espenilla Jr. said in a statement. The BSP said that total FDI increased to $869 million at the end of Novemb...Keep on reading: FDI inflows exceed 2017 goal with December figure still untallied.....»»

Category: newsSource:  inquirerRelated NewsFeb 12th, 2018

Trade deficit widens by 8.6% in Dec

THE country’s trade deficit widened by 8.6 percent in December 2017 as imports continued to grow at a double-digit rate while exports declined, the Philippine Statistics Authority (PSA) said Friday. In a report, the PSA said imports in December increased by 17.6 percent, rising to $8.74 billion from the $7.43 billion registered in 2016. On the… link: Trade deficit widens by 8.6% in Dec.....»»

Category: newsSource:  manilainformerRelated NewsFeb 9th, 2018

VLL noteholders ok change in covenant

The offshore unit of Villar-led property developer Vista Land & Lifescapes has obtained consent from bulk of its noteholders to tweak the term sheet of $425 million worth of outstanding debt paper due 2022. VLL International sought consent from bond-holders to modify certain terms and conditions of the notes to align them with the term sheet of a new series of notes amounting to $350 million issued last November 2017. In a disclosure to the Philippine Stock Exchange on Friday, VLL said noteholders controlling 90.12 percent "voted in favor of the amendments." The $425 million senior guaranteed notes are "unconditionally" and "irrevocably" guaranteed by VLL and its subsidiarie...Keep on reading: VLL noteholders ok change in covenant.....»»

Category: newsSource:  inquirerRelated NewsFeb 2nd, 2018

‘Grand Deception’ by Jun Ledesma

Letters From Davao: WHEN RAPPLER through its President, Maria Ressa, was caught trifling with an important tenet in the Philippine constitution that mandates that Philippine media should be 100% owned by Filipinos the Securities and Exchange Commission ordered it closed. Rappler was parading like it is wholly owned by Filipinos but turned out it accepted investment from Omidyar Network (ON) which is known for its notoriety in destabilizing heads of state that are not docile to America. It tried deception by claiming that the Philippine Deposit Receipts it issued to ON money was for philanthropic contribution. The attempt dragged them deeper in shit as PDRs are actually commercial instruments. When this trick did not work, Ressa again tried another act this time claiming that Omidyar signed a waiver on its veto power. Again this did not pass scrutiny of the SEC because the said waiver was discovered to be just a scrap of paper as the document was not notarized.  Running out of deceptive tricks Ma. Ressa went berserk when she was served the closure order and went about town crying her freedom is being curtailed by Pres. Rodrigo Duterte no less. Her partner Pia Ranada did the same screaming she will be jailed by Duterte’s military. The grandstanding, it was obvious, was to stonewall the criminal violation they committed and to paint Rappler and its staff headed by Ressa as victims of oppression and dictatorial regime of Duterte. Contrary to its claim that they have lost their freedom of expression, more than ever Rappler had increased the crescendo of its unfettered attack on no less than the President Duterte himself. Ressa spearheaded a Black Friday movement supported by a handful of students from where else by the University of the Philippines campus and the usual garrulous but moribund Liberal Party stalwarts headed by VP Leni Robredo. They were joined in by UN Rapporteur Agnes Callamard and her local counterpart Chito Gascon in denouncing the Duterte government for curtailing the freedom of the press. Other foreign-funded media outfits joined the fray for obvious reason.  Theirs is a cacophony of ridiculous chants. Robredo warned that the closure of Rappler is a symptom of a dark future of the country. The juvenile delinquents in the UP campus joined pipsqueak assemblies with screaming placards denouncing Pres. Duterte and his “malignant forces that continue to peddle lies to justify their tyranny and dictatorship”.  They cut classes to face the TV cameras and klieg lights unmindful of yet another spectacular grade the survey firms Social Weather Station and Pulse Asia showing an “excellent” grade on the sustained trust and popularity of the nation on Duterte which they had been flagellating no end.  No one seems to mind their issue about tyranny and dictatorship as the World Bank grudgingly declared that “DDS killed democracy in the Philippines but they haven’t killed the country’s vibrant economy”.  Forbes, an international business magazine, likewise quoted WB on its Global Economic Prospects, which asserts that “Duterte Philippines is the 10th fastest growing economy in the world”.  The statistics is a slap on the face of VP Robredo who remains to be an incurable pessimist despite the figures that cannot lie. She continues to see the future of the Philippines in dark glasses forgetting that she is a Vice President and therefore should have celebrated with the rest for the gains that the country achieved. For her part, Maria Ressa simply ignored what Forbes and WB declared.  Maybe out of outrage that the Robredo seemed to be out of sync and blinded by sheer politicking and negativism, UP Political Science professor and political analyst, Clarita Carlos,  made a five-worded message to The Vice President thus: “President Duterte moves the Philippines forward”. To those who denigrate Duterte from cutting the country’s umbilical cord to America, Professor Carlos had this to say. “Duterte has moved the Philippines away from the usual foreign policy and in turn ‘defined national interest’ by tracking his own way of foreign policy”. She admired Duterte for his political guts and courage.  It is indeed pathetic that while the Philippines rise several notches higher in political and economic arena the opposition and the foreign-aided media outfits shamelessly continue to belittle these achievements. It is no small feat that Philippines came out stronger in economic growth than China in the 3rd quarter of 2017. On the 4th quarter moreover China rallied (6.9%) and landed on top of Asian countries followed by Vietnam (6.8) and Philippines 6.7%. The Philippines however has been growing more than 6% for nine consecutive quarters and that sustained growth is best among Asean nations. Any which way you look at it, that spells economic stability and investment grade for investors service firms like Moody’s and other international credit rating institutions. Cause and effect is a simple gauge to measure the impact of the tyranny and dictatorial regime that Rappler and its sympathizers have been accusing the Duterte regime. But as I always say, no one can quarrel with success especially when institutions of unquestionable stature put the positive figures across. Expect the economy to grow even faster in 2018 when infrastructure spending commences under the Duterte’s Build, Build, Build program. As we all know, the government had earmarked P8.4-trillion to achieve the mega infrastructure projects comprising of railways, highways and bridges, irrigation’s, airports and seaports to name a few. The job opportunities that these programs will generate are equally mind-boggling. […].....»»

Category: newsSource:  mindanaoexaminerRelated NewsFeb 1st, 2018

Philippine GDP grows by 6.7% in 2017

MANILA, Philippines (2nd UPDATE) – A recovered agriculture sector, strong government consumption, as well as better exports and imports made it possible for the Philippine economy to grow above 6% for the 6th straight year in 2017, despite a drop in private construction spending, post-election impact, and plateuing business process ........»»

Category: newsSource:  rapplerRelated NewsJan 23rd, 2018

Personal Remittances for the First 11 Months of 2017 Reach US$28.2 Billion

Personal remittances from Overseas Filipinos (OFs) reached US$2.5 billion in November 2017, 3.2 percent higher than the level posted in the same month in 2016. This brought the cumulative remittances for the first 11 months of 2017 to US$28.2 billion, representing a year-on-year growth of 5.1 percent, BSP Governor Nestor A. Espenilla, Jr. The growth […].....»»

Category: newsSource:  metrocebuRelated NewsJan 20th, 2018

PPA: Cargo volume from January to November 2017 almost flat

By Patrizia Paola C. Marcelo, Reporter TOTAL cargo volume from January to November 2017 posted flat growth, registering a 0.81% increase. In a statement, the Philippine Ports Authority (PPA) said that total cargo volume in the country from January to November 2017 registered an almost flat growth of 0.81%, to 227.312 million metric tons (mmt)… link: PPA: Cargo volume from January to November 2017 almost flat.....»»

Category: newsSource:  manilainformerRelated NewsJan 20th, 2018

PPA: Cargo volume from January to November 2017 almost flat

By Patrizia Paola C. Marcelo, Reporter TOTAL cargo volume from January to November 2017 posted flat growth, registering a 0.81% increase. In a statement, the Philippine Ports Authority (PPA) said that total cargo volume in the country from January to November 2017 registered an almost flat growth of 0.81%, to 227.312 million metric tons (mmt) […] The post PPA: Cargo volume from January to November 2017 almost flat appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsJan 19th, 2018

DPWH-BDEO PIOs participate in the 4th quarter meeting of CDIO

The Philippine Information Agency (PIA) held its 4th Quarter Meeting of Community Development Information Officer (CDIO) / Information Officers (IOs) of National Government Agencies (NGAs) on November 22, 2017......»»

Category: newsSource:  samarnewsRelated NewsJan 16th, 2018

Remittances grow in November

MANILA, Philippines — Remittances from overseas Filipino workers continued to grow in November last year, bringing the 11-month tally 5.1 percent higher at $.....»»

Category: financeSource:  philstarRelated NewsJan 15th, 2018

OFW remittance growth may have slowed in Nov.

By Melissa Luz T. Lopez, Senior Reporter REMITTANCES from overseas Filipino workers (OFWs) likely grew at a slower pace in November ahead of an expected surge the following month, HSBC Global Research said, adding that the indicator is on track to post another record for 2017. HSBC economists expect remittances to pick up by 4.7% […] The post OFW remittance growth may have slowed in Nov. appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsJan 15th, 2018