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Remittance growth slowest in 3 months

By Melissa Luz T. Lopez Senior Reporter OVERSEAS FILIPINO workers (OFWs) sent more money home in February than a year ago even as it was the smallest increase in three months, the central bank reported on Monday. Such remittances totalled $2.267 billion for the month, up 4.5% from the $2.169-billion inflows tallied in February 2017, […] The post Remittance growth slowest in 3 months appeared first on BusinessWorld......»»

Category: financeSource: bworldonline bworldonlineApr 16th, 2018

HSBC: Remittance growth likely steady at 4.5% in March

Money sent home via banks by migrant Filipinos likely posted steady growth in March, banking giant HSBC said. “We expect March remittances to rise 20.5 percent month-on-month, after two straight months of sequential contraction. This would lead to a rise of 4.5 percent year-on-year . . . ,” HSBC said. February also saw a 4.5-percent [...] The post HSBC: Remittance growth likely steady at 4.5% in March appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimesRelated NewsMay 14th, 2018

Feb. growth of PHL factory activity slowest in 5 months

BUSINESS for factories in the Philippines bared “marginal” improvement in February, according to the latest monthly monitoring by IHS Markit for Nikkei, Inc. that showed manufacturing growth easing for the third straight month by the second-slowest pace since the country survey began in January 2016. The seasonally adjusted Nikkei Philippines Manufacturing Purchasing Managers’ Index (PMI) […] The post Feb. growth of PHL factory activity slowest in 5 months appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsMar 1st, 2018

Infra spending growth slowest in 16 months in July

Infra spending growth slowest in 16 months in July.....»»

Category: financeSource:  philstarRelated NewsSep 21st, 2016

Twitter suspended 58 million accounts in 4Q 2017

  NEW YORK --- Twitter suspended at least 58 million user accounts in the final three months of 2017, a data obtained by The Associated Press revealed.   The figure highlights the company's newly aggressive stance against malicious or suspicious accounts in the wake of Russian disinformation efforts during the 2016 United States presidential campaign.   Last week, Twitter confirmed a Washington Post report that it had suspended 70 million accounts in May and June. The cavalcade of suspensions has raised questions as to whether the crackdown could affect Twitter's user growth and whether the company should have warned investors earlier. The company has be...Keep on reading: Twitter suspended 58 million accounts in 4Q 2017.....»»

Category: newsSource:  inquirerRelated NewsJul 18th, 2018

Remittance growth eases to 6.1% in May 2018

Remittances from Filipinos abroad grew above six percent in May, helping boost the country’s thinning foreign exchange buffer against external shocks, the Bangko Sentral ng Pilipinas reported yesterday......»»

Category: financeSource:  philstarRelated NewsJul 16th, 2018

May remittances signal GDP boost

MONEY SENT HOME by Filipinos working abroad surged in May to the highest level in five months, the Bangko Sentral ng Pilipinas (BSP) reported Monday, signalling continued growth of household spending that contributes close to 60% to gross domestic product (GDP)......»»

Category: newsSource:  bworldonlineRelated NewsJul 16th, 2018

Overseas Filipinos’ cash remittances

MONEY SENT HOME by Filipinos working abroad surged in May to the highest level in five months, the Bangko Sentral ng Pilipinas (BSP) reported Monday, signalling continued growth of household spending that contributes close to 60% to gross domestic product (GDP). Read the full story......»»

Category: newsSource:  bworldonlineRelated NewsJul 16th, 2018

PH 7-Eleven operator reports 6-month profit growth of 19.4%

The country's leading convenience store operator, Philippine Seven Corp. (PSC), grew its net profit in the first six months by 19.4 percent year-on-year to P533.2 million, citing the favorable impact of recent individual income tax cuts on consumer spending.   For the second quarter alone, PSC's net profit rose by 18.9 percent year-on-year to P342.7 million, buoyed by the 19.2-percent expansion in sales to P11.55 billion.   The licensee of 7-Eleven stores reported to the Philippine Stock Exchange yesterday that system-wide sales had gone up by 22.7 percent year-on-year in the first semester to P22.2 billion, driven by the increase in the number of operating stores a...Keep on reading: PH 7-Eleven operator reports 6-month profit growth of 19.4%.....»»

Category: newsSource:  inquirerRelated NewsJul 13th, 2018

FDI inflows rise 24% in 4 months

Foreign direct investments continued to flow into the country, growing 24 percent in the first four months of the year amid favorable investor sentiment on the back of sound macroeconomic fundamentals and growth prospects......»»

Category: financeSource:  philstarRelated NewsJul 11th, 2018

Trade gap in May widest in 5 months

The Philippines’ trade deficit in May rose to a five-month high driven by double-digit growth in imports and contraction in exports, the country’s statistics agency reported Tuesday......»»

Category: newsSource:  philstarRelated NewsJul 10th, 2018

Finance dep’t sees GDP targets within reach due to revenue, spending growth

GOVERNMENT revenue and disbursements as a share of the economy rose in the five months to May, the Department of Finance (DoF) said, improving the prospects for achieving economic growth targets this year......»»

Category: newsSource:  bworldonlineRelated NewsJun 28th, 2018

Remittances surged 13% in April; 4-mo total at $10.4B

Dollars sent home by expatriate Filipinos rose during the first four months of the year, driven by the growth in remittances from both land- and sea-based workers, the central bank reported on Mond.....»»

Category: newsSource:  philippinetimesRelated NewsJun 20th, 2018

Remittances rebound to 17-month high in April 2018

Remittances from overseas Filipinos rebounded strongly in April, booking its fastest growth in 17 months after registering its steepest decline in almost 15 years last March, the Bangko Sentral ng Pilipinas reported yesterday......»»

Category: financeSource:  philstarRelated NewsJun 19th, 2018

Football: Azkals fighting for redemption, recognition in upcoming tournaments

As important as the first quarter of 2018 was for the Philippine Azkals, the coming months are definitely even more crucial. With the introduction of former England skipper Terry Butcher as the national team’s new head coach, the road to redemption and recognition begins. "The next 12 months is huge for Philippine football. If we can have success in the Suzuki Cup and the Asian Cup, that will be huge strides in the development of football here in the Philippines." said Azkals skipper Phil Younghusband. Redemption is the goal for the upcoming 2018 AFF Suzuki Cup, which kicks off in November. The last time that the Azkals participated in the biennial Southeast Asian tournament, it was definitely one to forget. For the first time since 2008, the Philippines failed to qualify for the Suzuki Cup semifinals, snapping a streak of three straight Final Four appearances. This year, the Azkals once again find themselves grouped with Thailand, Indonesia, and Singapore, just like in 2016. “We have the same group as in the 2016 Suzuki Cup, so it’s a chance for us to redeem ourselves and do better.” said Azkals team manager Dan Palami.      “[It's] the same draw we had two years ago when we didn’t qualify,” said Younghusband. “We know it will be tough and it’s a challenge for us.” The Fil-British striker added that in order to establish themselves as a force to reckon with in Southeast Asian football, teams like Thailand and Indonesia, and Singapore are ones that they need to take care of. “If we want to continue to help the growth of Philippine football, these are teams we will have to play and win against.” A successful AFF Suzuki Cup campaign will also definitely give the Azkals the much-needed momentum as they begin their AFC Asian Cup campaign, their first in team history. On the biggest stage that they’ve been on, their goal is to be recognized as a legitimate contender in Asian football. “The Asian Cup draw is a difficult group, but there are other groups that are more tough. It will be great to get the experience of playing a World Cup side to see what level we are at.” Younghusband said. In the Asian Cup, which kicks off in January of 2019, the Azkals find themselves grouped with South Korea, China, and Kyrgyzstan. All three teams are ranked higher than the Philippines. And while it’s bound to be an uphill battle for the Azkals, Younghusband is hopeful that they can come up with some surprises. “China will be very difficult, but we played them last year so we know what to expect. I would rather play a team we have played before. Kyrgyzstan, we played twice recently and had good victories so it should be interesting. Hopefully, we can claim a best third spot or even surprise a few people and claim second spot.”  Much like the captain, Palami acknowledges that the Asian Cup will indeed be a tough go, but going through tough opponents is the only way for the Azkals to prove themselves among Asia’s elite, and that’s what Palami wants to see from the Pinoy side. “For the Asian Cup, it will be a tough group, but I think if we do it right, we can pull off one of the biggest surprises in the tournament, and that’s what we aim to do.” “We don’t want to be mere participants, but we want to be true competitors in the Asian Cup.” Palami added......»»

Category: sportsSource:  abscbnRelated NewsJun 14th, 2018

BIR exceeds goal for first 5 months of 2018 by P24.91B

FOR the first five months of the year, the Bureau of Internal Revenue (BIR) collected P827.91 billion. This is P24.91 billion more or 3.10 percent higher than the goal of P803 billion set for the period. Likewise, the BIR posted a growth rate of 14.76 percent or an increase of P106.51 billion compared to the [...] The post BIR exceeds goal for first 5 months of 2018 by P24.91B appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsJun 13th, 2018

Exports fell by 8.5% in April

Merchandise exports in April declined at its fastest pace in four months but imports continued to post robust growth, said to be supportive of domestic manufacturing and the country's ambitiou.....»»

Category: newsSource:  philippinetimesRelated NewsJun 9th, 2018

Investment pledges down by 38% in Q1

Foreign investment approvals posted a sharp decline in the first quarter of 2018, the government reported on Thursday, with only one investment promotion agency (IPA) posting growth during the period. Seven monitored IPAs approved just P14.2 billion in foreign pledges in the first three months of 2018, down 37.9 percent from P22.9 billion a year [...] The post Investment pledges down by 38% in Q1 appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsJun 7th, 2018

Q2 GDP growth likely on target — Budget chief

ECONOMIC growth likely picked up this quarter to fall within the 7-8% official full-year 2018 target, the Budget chief said on Tuesday, as the Philippine Statistics Authority (PSA) reported that factory output began those three months with its biggest improvement in eight years. The post Q2 GDP growth likely on target — Budget chief appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsJun 6th, 2018

Faster spending growth widens 4-month deficit

THE GOVERNMENT’S deficit grew nearly fourfold in the four months to April from a year ago as a hike in state spending outstripped that of revenue collections, the Finance chief said on Wednesday, even as the fiscal gap still fell short of program. April alone, however, saw a P46.3-billion surplus, about 12.31% smaller than April […] The post Faster spending growth widens 4-month deficit appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsMay 23rd, 2018

P5.3 B worth of fake goods – mostly cigarettes – seized in Q1

Most fake or counterfeit goods confiscated by the government in the first quarter of the year worth at least P5.3 billion were cigarettes and cigarette production equipment, the Intellectual Property Office of the Philippines (IPOPHL) said. In a statementon Wednesday, IPOPHL said the value of the seized goods in the first three months of the year has already reached more than half of the total value of fake goods confiscated for the entire year in 2017, which reached P8.2 billion. The spike this quarter -- a triple-digit growth from the same period last year -- was primarily attributed to the P5 billion worth ofcigarettes and cigarette production paraphernalia seized by the governm...Keep on reading: P5.3 B worth of fake goods – mostly cigarettes – seized in Q1.....»»

Category: newsSource:  inquirerRelated NewsMay 23rd, 2018