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OFW remittances

It is no secret that OFW remittances have been a bedrock of the Philippine economy since the Marcos era. It have been a reliable backstop to the economy in many tough situations over the last five decades......»»

Category: financeSource: philstar philstarFeb 24th, 2021

WorldRemit, Palawan Pawnshop Partner Up to Expand Location For Pick Up Remittance

The leading digital cross-border payments business, WorldRemit recently inked partnership with Palawan Pawnshop. Through this partnership, WorldRemit recipients can now directly quote WorldRemit when claiming their cash remittances at Palawan Pawnshop’s more than 3,300 branches nationwide, and at their 2,000 partner locations as well. “At WorldRemit, we want to ensure remittances are sent back home […].....»»

Category: newsSource:  metrocebuRelated NewsFeb 21st, 2021

Peso climbs to 47.93:$1 as remittances rebound

The peso  climbed to a 52-month high against the US dollar Monday, rising above the 48 level after the release of data  showing that remittances reached nearly $30 billion in 2020 despite the economic impact of the pandemic......»»

Category: financeSource:  thestandardRelated NewsFeb 15th, 2021

Remittances resilient, shrink just below 1%

Remittances shrank by just less than one percent last year despite the displacement of close to half a million overseas Filipino workers due to the global health crisis, the Bangko Sentral ng Pilipinas said......»»

Category: financeSource:  philstarRelated NewsFeb 15th, 2021

2021 Forecast on PH’s Residential and Commercial Real Estate

2020 was a challenging time for the property industry, but signs of recovery in the latter part of the year gave a glimpse to a brighter, more hopeful new year. Philippine stocks rose to almost 7,300 level in mid-December due to higher remittances from overseas Filipino workers, according to a Manila Bulletin report published in […].....»»

Category: newsSource:  metrocebuRelated NewsFeb 10th, 2021

More OFWs invest in Golden Haven lots

More overseas Filipino workers are now choosing to invest in memorial lots as a safety net for these uncertain times, as recent surveys reveal they are utilizing their remittances for investments in preparation for retirement......»»

Category: financeSource:  philstarRelated NewsJan 29th, 2021

Remittances in November up 0.3% to $2.38b

Remittances from overseas Filipino workers grew in the third straight month, providing the economy foreign funds amid the economic slump brought about by the coronavirus pandemic......»»

Category: lifestyleSource:  abscbnRelated NewsJan 15th, 2021

FMIC/UA& P study shows Philippines to expand up to 6.5% in 2021

The economy can be expected to return to a growth path of 5.5 up to 6.5 percent this year, supported largely by increased remittances from overseas and government spending, according to the investment banking arm of the Metrobank Group......»»

Category: financeSource:  philstarRelated NewsJan 14th, 2021

Remittance arrivals increased by 16% in 2020; $ 8,219.3 million US dollars

The central bank reported that remittances have reached their highest growth rates in the past ten years, recording an amount of 8,219.3 million US dollars.....»»

Category: newsSource:  thedailyguardianRelated NewsJan 10th, 2021

Remittances to fuel private consumption in 2021

Remittances from overseas Filipino workers are expected to accelerate next year, fueling a private consumption-led economic rebound, according to Barcelona-based think tank Focus Economics......»»

Category: financeSource:  philstarRelated NewsDec 27th, 2020

Bill protecting OFWs’ remittances gets final House nod

File photo MANILA – The House of Representatives on Tuesday overwhelmingly approved on third reading a bill seeking to limit charges and provide discounts on remittance fees shouldered by overseas Filipino workers (OFWs). With a total of 224 affirmative votes, the chamber passed on final reading House Bill 7951, or the proposed “Overseas Filipino Workers […].....»»

Category: newsSource:  balitaRelated NewsDec 16th, 2020

Remittances rose 2.9% in October; GIR reached $104b

Money sent home by Filipinos working overseas rose 2.9 percent in October to $2.747 billion from $2.671 billion a year ago, the Bangko Sentral ng Pilipinas said Tuesday......»»

Category: financeSource:  thestandardRelated NewsDec 15th, 2020

Remittances inch closer to full-year growth in October

Cash remittances managed to grow for the second straight month in October despite the economic fallout from the coronavirus pandemic......»»

Category: financeSource:  philstarRelated NewsDec 15th, 2020

Get up to P500 cashback when you claim your Western Union remittance via PayMaya for 1st time

Digital financial services leader PayMaya is making it convenient and rewarding for Filipinos to claim their Western Union remittances via the PayMaya app as it offers recipients a cashback of up to P500 plus a chance to win P100,000 in the raffle draw......»»

Category: techSource:  thestandardRelated NewsDec 2nd, 2020

The worst is over

The worst is over for the Philippine economy, says Bangko Sentral Governor Benjamin S. Diokno. Last Friday, he highlighted the recent balance of payments, dollar remittances, and foreign direct investment numbers to back his claim of an impending rebound in growth, from an 8-to-10 percent drop in economic output (GDP) this year in 2021, the worst in the last 30 years......»»

Category: newsSource:  thestandardRelated NewsNov 25th, 2020

Market ends 3-day slump; Megaworld, Jollibee climb

Stocks rose Tuesday to snap a three-day slump, boosted by a government report that remittances climbed 9.3 percent in September from a year ago......»»

Category: financeSource:  thestandardRelated NewsNov 18th, 2020

OFW remittances up in September

Money sent home by overseas Filipino workers (OFWs) in September jumped 9.1 percent to $2.888 billion versus the $2.648 billion recorded a year earlier, data from the Bangko Sentral ng Pilipinas (BSP) showed on Monday. In a statement, the central bank said personal remittances—personal transfers in cash or kind and capital transfers between households—from land-based […].....»»

Category: newsSource:  manilatimes_netRelated NewsNov 17th, 2020

September remittances rose by 9.3% to $2.601b

Remittances rose 9.3 percent in September from a year ago, the fastest growth in 29 months, as the economies hosting overseas Filipino workers gradually recovered from the impact of the coronavirus pandemic, data from the Bangko Sentral ng Pilipinas show on Monday......»»

Category: financeSource:  thestandardRelated NewsNov 17th, 2020

BSP data: Strong dollar remittances in Sept keep PH economy from sinking

MANILA, Philippines — The Philippines’ estimated 10 million citizens abroad once more stepped in to buoy the local economy in the middle of a crisis, driving a late third quarter surge in dollar remittance that helped ward off a worst case scenario earlier feared by the central bank. In a statement, the Bangko Sentral ng […] The post BSP data: Strong dollar remittances in Sept keep PH economy from sinking appeared first on Cebu Daily News......»»

Category: newsSource:  inquirerRelated NewsNov 16th, 2020

September remittances surprise with fastest growth in 29 months

The expansion was the fastest since the 12.7% annual uptick in April 2018......»»

Category: newsSource:  philstarRelated NewsNov 16th, 2020

World Bank sees slower fall for remittances this year

Inflows from Filipinos abroad would decline 5% year-on-year in 2020, the multilateral agency said in a global migration report with KNOMAD, a think tank......»»

Category: financeSource:  philstarRelated NewsOct 30th, 2020