MANILA, Philippines — Security Bank Corp. expects remittances from overseas Filipino workers (OFWs) growing by four percent to a record high $31 billion this year due to the ongoing global rollout of COVID-19 vaccines. Data from the Bangko Sentral ng Pilipinas (BSP) showed personal remittances slipped by eight percent to $33.19 billion last year from […]
Read MoreMANILA, Philippines — The government is maintaining its economic growth target at 6.5 percent for 2021 despite renewed mobility restrictions amid surging COVID-19 cases. During a meeting with President Duterte Wednesday night, acting Socioeconomic Planning Secretary Karl Chua expressed optimism that the economy would slowly recover this year following a slump in 2020. “Our projection […]
Read MoreMANILA, Philippines — The Philippines has expressed its intention to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). “(Trade) Secretary (Ramon) Lopez has already written New Zealand as the depository country of the CPTPP, that the Philippines intends to accede to the CPTPP,” Trade Undersecretary Ceferino Rodolfo said during a webinar. Lopez said […]
Read MoreMANILA, Philippines — Inflation in Asia Pacific, including the Philippines, will begin to taper off by the second half of the year as supply side disruptions are slowly addressed. In its latest research brief, London-based Oxford Economics said inflationary pressures would turn modest beyond the second quarter amid government efforts to manage prices and an […]
Read MoreMANILA, Philippines — Monetary authorities are likely to maintain interest rates at record lows as the economy has yet to recover from the impact of the COVID-19 pandemic, according to Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno. In his weekly online press briefing, Diokno said the withdrawal of liquidity-enhancing policy measures is unlikely this […]
Read MoreMANILA, Philippines — The coronavirus pandemic has been prompting more Filipinos to abandon their desire to work abroad and instead look for jobs onshore that allow their employees to work from the comforts of their homes. A global report released Wednesday by JobStreet, an online job portal, showed a majority of 54% of Filipino respondents […]
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