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......»»
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 […].....»»
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......»»
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......»»
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 […].....»»
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......»»
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......»»
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......»»
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.....»»
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......»»
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 […].....»»
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......»»
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......»»
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......»»
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......»»
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......»»
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 […].....»»
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......»»
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......»»
September remittances surprise with fastest growth in 29 months
The expansion was the fastest since the 12.7% annual uptick in April 2018......»»
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......»»