Overseas Filipinos’ cash remittances (July 2022)

Source BusinessWorld

More Filipinos felt better off in June this year than they were a year ago, a Social Weather Stations (SWS) survey showed...

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Filipino migrant workers sent around $2.9 billion in cash remittances in July this year, the highest monthly remittance to the country for 2022, data from the Bangko Sentral ng Pilipinas (BSP) showed...

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Moody's investors services on Thursday kept the Philippines’ “Baa2” credit rating with a “stable” outlook, as economic recovery is unlikely to be hampered by “challenging global credit conditions.”...

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A Cabinet-level committee on Thursday approved revisions to the implementing rules and regulations (IRR) of the amended Build-Operate-Transfer (BOT) law, paving the way for big-ticket infrastructure projects that could be pursued in partnership with the private sector...

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The Fiscal Incentives Review Board (FIRB) has decided to allow Business Process Outsourcing (BPOs) firms to transfer their registration to the Board of Investments (BOI) in order for them to continue enjoying their incentives...

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The Department of Education (DepEd) on Thursday said it will release guidelines on the wearing of face masks after consultation with the Department of Health (DOH) and other education stakeholders following the issuance of President Ferdinand Marcos Jr.’s Executive Order (EO) No.3...

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The House of Representatives has approved on second reading a bill requiring the registration of all postpaid and prepaid subscriber identity module (SIM) cards to prevent scammers and other criminals who “hide behind false identities.”...

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Government workers who have been under Job Orders (JO) or Contract of Service (CSO) arrangements for a long time will have a higher chance of passing the Civil Service Exam (CSE) under the proposed “point-based system” of the Civil Service Commission (CSC)...

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Senior Deputy Minority Leader Paul Daza voiced his opposition to the measure that seeks to impose Value Added Tax on digital transactions...

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President Ferdinand Marcos Jr. on Thursday called on the Bangsamoro Transition Authority (BTA) to pass key legislation and to pave the way for elections in 2025...

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The National Telecommunications Commission (NTC) on Thursday issued an order directing mobile phone manufacturers, distributors, and dealers to assist mobile phone users in activating the text-blocking feature on mobile devices amid rising SMS (short messaging service) scams...

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Welcome to the future of European high-speed rail travel. French railway company SNCF and train manufacturer Alstom have unveiled the first completed TGV M, a next-generation high-speed double-decker train that features a longer, more aerodynamic nose -- perfect for hurtling across the French countryside...

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After years of larger competitors copying TikTok, the short-form video app is now copying a newer rival. TikTok on Thursday announced a new, real-time sharing feature modeled after BeReal, a social media platform that has recently gained traction among college students and other young people...

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President Ferdinand “Bongbong” R. Marcos Jr. is set to tackle pressing international concerns such as climate change and the country’s economic policies during his speech before members of the United Nations (UN) when he flies to New York next week...

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The World Bank is willing to provide up to $30 billion to combat global food shortages aggravated by Russia’s invasion of Ukraine and has so far disbursed almost $10 billion in financial aid pledged to Kyiv, a senior bank official said on Thursday...

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The benchmark index slipped to the 6,500 level on Thursday on profit taking and cautious trading ahead of central bank meetings next week and the rebalancing of Financial Times Stock Exchange (FTSE) on Friday...

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The Philippines ranks high among countries in Southeast Asia in “social cohesion”—a factor deemed vital to “economic success” and a “functioning democracy,” according to a study...

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While acknowledging that the Philippine government has made some initiatives to advance accountability for human rights violations and abuses, the UN Office of the High Commissioner for Human Rights (OHCHR) noted in its latest report that “access to justice for victims … remained very limited.”...

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The Food and Drug Administration (FDA) has allowed a Chinese drugmaker to hold clinical trials in the country for a vaccine that supposedly provides immunity for more than 20 months...

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An economist said the United States consumer price index (US CPI) and inflation data and weaker peso exchange rate might lead to more aggressive local policy rate hikes...

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The world has never been in a better position to end the coronavirus disease 2019 (COVID-19) pandemic, the head of the World Health Organization (WHO) said on Wednesday, his most optimistic outlook yet on the years-long health crisis which has killed over six million people...

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Russian forces in eastern Ukraine are fortifying defenses and it will be hard for Kyiv’s troops to repeat the rapid success of their recent lightning counter offensive, a senior regional Ukrainian official warned on Thursday...

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The threat of a global recession is growing as central banks focus on bringing down soaring inflation rates, the World Bank warned Thursday, calling on governments to help boost supply to ease the constraints behind rising prices...

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'Downside risks continue to dominate the outlook with just a tremendous amount of uncertainty that needs to be taken into account,' says International Monetary Fund spokesman Gerry Rice...

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Pope Francis on Thursday said it was morally legitimate for nations to supply weapons to Ukraine to help the country defend itself from Russian aggression...

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A United States Senate committee on Wednesday (Thursday in Manila) took the first step toward Washington directly providing billions of dollars in military aid to Taiwan and making ties more official, ramping up support following soaring tensions with China...

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Chinese President Xi Jinping told his Russian counterpart Vladimir Putin on Thursday that Beijing was willing to work with Moscow as "great powers" during his first trip overseas since the early days of the pandemic...

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All EU countries apart from Hungary agreed Thursday to ask the UN to appoint an expert to monitor the rights situation in Russia, diplomatic sources said...

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The seven leading industrialized nations (G7) aim to have a functioning dispute settlement system under the World Trade Organization (WTO) by 2024, said G7 trade ministers in a joint statement on Thursday...

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Since the beginning of the monkeypox outbreak, scientists and activists have pushed for the name of the virus and the disease to be changed to something "non-discriminatory" and "non-stigmatizing."...

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The country faces “reputational risks” if it continues to allow Philippines Offshore Gaming Operators (POGOs) to operate, according to Finance Secretary Benjamin Diokno...

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The House of Representatives on Thursday announced it has completed the constitution of all its 65 standing committees and 15 special committees, and is now ready to create and pass priority legislations of the 19th Congress and the Marcos administration...

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The Department of National Defense (DND) is seeking P240.7 billion for its modernization projects, pensions and expansions next year...

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To facilitate the peaceful self-governance of the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), President Ferdinand “Bongbong” R. Marcos, Jr. urged the Bangsamoro Transition Authority (BTA) to prioritize the passage of legislation on tax and the conduct of the election in the region...

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From 12 percent last week, the national positivity rate for COVID-19 increased to 12.5 percent with new COVID infections posting a daily average of 2,201, according to a report from the Department of Health (DOH)...

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The Civil Service Commission (CSC) is eyeing a “preferential rating system” for contractual and job order (JO) government workers who have been serving in their respective agencies for a long time, for them to be absorbed as full-time civil servants should they take the civil service examinations...

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In the absence of a law postponing the barangay and Sangguniang Kabataan (SK) elections for December this year, the Commission on Elections (Comelec) is calling on aspiring candidates to file their certificates of candidacy (COCs) next month...

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The Philippine Stock Exchange (PSE) is targeting 20 new company listings in 2023, its president said on Thursday...

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Facing another budget cut, the Commission on Human Rights (CHR) has found some allies in the House of Representatives as it seeks a bigger allocation in order to fulfill its mandate of keeping state abuses in check, this time under the Marcos administration...

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An official of the Department of Environment and Natural Resources (DENR) on Thursday said that the lifting of the mandatory use of masks will reduce the accumulation of waste by 50 percent...

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Rice farmers are asking the government to reinstate the National Food Authority’s “regulatory powers” to guarantee fair farmgate prices and lower end-user pricing for the staple...

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A week after creating a hotline, the Department of Education (DepEd) on Thursday, Sept. 15, said it has received “less than 20” reports of abuse against students...

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President Marcos paid tribute to the sacrifices of Moro revolutionaries that fueled their dream of self-governance during his late father’s regime, while calling on new and old Bangsamoro leaders to unite to bring lasting peace to Mindanao...

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Two teacher organizations called on the Department of Education (DepEd) to implement its six-hour workload rule for teachers who they said still have to finish tasks even after classes are over...

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Sen. Joseph Victor "JV" Ejercito on Thursday revealed that some foreigners have been using the identities of dead Filipinos to secure government-issued identification cards in the Philippines...

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Senators agreed Thursday that the country should discontinue the Philippine Offshore Gaming Operators (POGO) program because of its social cost, including alleged involvement in criminal activities...
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The Department of Interior and Local Government is set to launch a new campaign using what it described as a “whole-of-nation” approach against the trafficking of illegal substances to bring to justice the people behind the drug menace...

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The House of Representatives committee on appropriations on Thursday rallied behind the P4.78-billion budget for 2023 of the Office of the Ombudsman, the government body tasked to prosecute corrupt public officials and their cohorts...
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Idle assets of the Government Service Insurance System will be "put to use" to add more funds to the state-run pension system, the GSIS chief said Thursday...

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If underemployment as well as high commodity prices persist, these will likely worsen the country’s poverty situation, according to the National Economic and Development Authority (Neda)...

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The Bangko Sentral ng Pilipinas (BSP) reported on Thursday that the value of transactions via the two main automated clearing houses grew 43 percent in the first seven months of the year...

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The growth in the amount of money sent home by overseas Filipino workers (OFWs) to their families in the Philippines increased by a little over two percent in July, hitting its highest level in seven months...

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After many years of neglect, the country’s salt industry is finally getting much-needed attention through a P100-million revitalization program to be implemented by the Department of Agriculture (DA)...

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Trade Secretary Alfredo Pascual on Thursday recognized the importance of working closely with the private sector in sustaining economic growth...

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The depreciation of the Philippine peso is seen to result in higher costs for automotive firms as well as adjustments in the prices of vehicles, according to the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI)...

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GO Negosyo founder Jose Maria "Joey" Concepcion 3rd on Thursday brushed aside concerns that President Ferdinand "Bongbong" Marcos Jr.'s decision to relax the country's mask mandate will have marginal effects on the economy...

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PAG-IBIG Fund top executives urged employers with unremitted contributions for their employees to avail of the agency's penalty condonation program and settle their obligations, both prior and during the pandemic, which will be free from any monthly penalty charge on delayed remittances...

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The provincial government of Cavite awarded the $11-billion Sangley Point Airport Project to a consortium led by Cavitex Holdings Inc. and Yuchengo group after a series of failed biddingS and negotiations with China Communications Construction Co...

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PAG-IBIG Fund top executives urged employers with unremitted contributions for their employees to avail of the agency's penalty condonation program and settle their obligations, both prior and during the pandemic, which will be free from any monthly penalty charge on delayed remittances...

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