Overseas Filipinos’ cash remittances (Oct. 2022)

Source: BusinessWorld

The House of Representatives on Thursday approved on third reading a proposed law creating the $2-billion Maharlika Investment Fund (MIF), which has been certified as urgent by President Ferdinand "Bongbong" Marcos Jr...
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The Monetary Board on Thursday delivered a 50-basis point (bps) policy rate hike, matching a US Federal Reserve (Fed) adjustment as expected, in a continued bid to contain inflation...
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Money sent home by overseas Filipino workers (OFWs) rose for a second straight month in October, the Bangko Sentral ng Pilipinas (BSP) reported on Thursday...

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President Ferdinand "Bongbong" Marcos Jr. will sign the P5.268-trillion 2023 national budget on Friday, Malacañang announced Thursday...
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The House of Representatives approved on third and final reading the bill creating the Maharlika Investment Fund (MIF), just over two weeks after it was filed by Speaker Ferdinand Martin G. Romualdez...

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The Social Security System (SSS) said on Thursday that it launched a new variant of its voluntary retirement savings scheme, known as the Worker’s Investment and Savings Program Plus (WISP Plus)...

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The Department of Tourism (DOT) has relaunched a program to attract overseas Filipinos and encourage them to bring home their foreign friends or extended family...

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Trade Secretary Alfredo E. Pascual is urging consumers to buy local products as he shared some money saving tips for Filipino consumers this Christmas season...

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The House of Representatives has given its final nod to House Bill 6687 or the proposed "National Citizens Service Training Program Act."...
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The House of Representatives has given its final nod to House Bill 1 or the Government Financial Institutions Unified Initiatives to Distressed Enterprises for Economic Recovery (Guide) bill...
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Sinkholes have been documented in the three villages comprising Boracay Island since 2018 but a government geologist said the latest geological survey showed that its number had increased, endangering the stability of structures in the world famous tourist destination in Aklan province...
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In a bid to institutionalize the vital role of the youth in nation building, the House of Representatives on Thursday approved the National Citizens Training Program (NCTP) on second and third reading...

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Sen. Sherwin Gatchalian, presiding chairman of the Senate Ways and Means, convened a hybrid public hearing Wednesday to review options aimed at easing the taxpayers’ burden of paying taxes to the government...

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The Department of Energy (DoE) said it is evaluating various marine renewable energy technologies...

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The Philippines and Estonia have agreed to collaborate in digitization and e-governance projects, the Office of the President said in a statement...

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President Ferdinand “Bongbong” Marcos Jr. asked the European Union to help “effectively apply” the United Nations Convention on the Law of the Sea (Unclos) and ease maritime disputes and geopolitical rivalry in the Indo-Pacific region...
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President Ferdinand “Bongbong” Marcos Jr. wants the proposed free trade agreement between the Philippines and the European Union (EU) to materialize soon to bolster mutual economic development...
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Micro, small and medium enterprises (MSMEs) from member countries of the Association of Southeast Asian Nations (Asean), which include the Philippines, reported performance growth after receiving financing through a financial technology platform, indicating a promising means of helping small businesses scale up their operations...

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A Ukrainian general said on Thursday that Moscow was digging in for a long war and still wanted to conquer the whole of Ukraine, as Russian forces pounded two strategic cities while Kyiv’s troops shelled Russian-controlled Donetsk in the east...
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Officials of the Embassy of Canada in the Philippines revealed Ottawa is pouring C$2.3 billion investments (around P93.6 billion) into the Indo-Pacific Region, which includes the Philippines, to advance its five “interconnected pillars.”...

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Returning from a trip to the province one Friday afternoon in September, 23-year-old Mary Jovelle Santiago took a bus from the airport to her home in Marikina City, her first time to do that...

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Anyone on social media can provide news and influence opinion. But for Supreme Court Chief Justice Alexander Gesmundo, only trained media professionals with high ethical standards and credibility can be called “true practitioners.”...
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The cost of borrowing money for both businesses and employers as well as consumers in the Philippines will rise further as the Monetary Board (MB) again raised the Bangko Sentral ng Pilipinas (BSP) key policy rate, although at a slower place this time by 0.5 percentage point to 5.5 percent...
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Money sent home by Filipinos living and working overseas grew by 3.1 percent in the first 10 months of 2022 to reach $29.72 billion from $28.82 billion in the same period last year as inflation was rising, the peso weakening to record levels and the peak remittance season was approaching...
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Cellular phone users are likely to prioritize having reliable and “good enough” mobile services over subscribing to the best, albeit expensive products at a time when consumer prices are soaring, according to independent analytics company OpenSignal...
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The Philippine central bank on Thursday said it was backing the creation of a sovereign wealth fund being pushed by President Ferdinand Marcos Jr, after having earlier raised concerns about transparency over its governance...
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The Philippines has secured over P6.2-billion worth of investment pledges from four European firms, whose executives met with President Ferdinand R. Marcos, Jr. in Brussels, according to the Presidential Palace...

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Manila Electric Co. (Meralco) has secured a 300-megawatt (MW) emergency power supply deal with Aboitiz Power Corp. (AboitizPower) to partly replace the capacity that a unit of San Miguel Corp. (SMC) stopped supplying, but only for a short period...

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The Civil Aeronautics Board (CAB) is lowering the applicable fuel surcharge for domestic and international flights to Level 7 from Level 8 currently...

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Micro, small, and medium-sized enterprises (MSMEs) posted improved net profit, revenue, employment and performance after tapping financial technology and online lending firms for financing, a study showed...

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As-expected policy rate hikes and latest economic data sent the stock market and the peso in different directions on Thursday...
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Increased foreign investment will allow the medical industry to incorporate more advanced technology and management practices, according to a hospital industry official...

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High rates are taking the shine off the residential market, with property investors expected to lean more towards office, industrial, and logistics projects, Colliers Philippines said...

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