MANILA, Philippines — Remittances from overseas Filipino workers (OFWs) continued to grow in November 2019, although at their slowest pace in five months, according to the Bangko Sentral ng Pilipinas (BSP). According to the latest data from the BSP, personal remittances rose by only two percent to $2.64 billion in November last year from $2.59 […]
Read MoreMANILA, Philippines — Economic growth momentum is expected to be sustained this year, accelerating to a range of 6.2 to 6.6 percent, fuelled by “magnified” consumer spending and the continuation of the government’s catch-up spending plan for infrastructure, First Metro Investment Corp. (FMIC) said. Officials of the investment banking arm of the Metrobank Group said […]
Read MoreMANILA, Philippines — Mortgage broker Nook yesterday launched its online platform, which seeks to provide a seamless loan application process for Filipinos looking to purchase housing units. “After more than a year of preparation and development, Nook is officially launching today and we’re bringing mortgage brokering services to the Philippines’ housing loan market,” Nook chief […]
Read MoreMANILA, Philippines — President Duterte’s latest pronouncement to limit rice imports during harvest season is actually more disastrous to local farmers, according to a think tank. Research and advocacy group Action for Economic Reforms (AER) said the policy pronouncement of curbing rice imports would erode the gains from the Rice Tariffication Law. Duterte earlier said […]
Read MoreMANILA, Philippines — The Philippines is one of the worst countries to live for minimum wage earners, a new report by e-commerce firm Picodi released Tuesday found. In January 2020, monthly net pay received by minimum wage earners in the Philippines stood at P5,922, 10.2% higher than P5,376 they got in the same month last year. That […]
Read MoreThe Philippine peso-US dollar spot trading and the operations of banks in the areas heavily affected by Taal Volcano activity were suspended on Monday. In a statement, the Bankers Association of the Philippines (BAP) explained that the closure of the spot trading was pursuant to Bangko Sentral ng Pilipinas Circular 1043 Section 3(b) of Annex […]
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