Latest News and Information from Philippines

  • ‘Derisking’ seen behind drop in OFW remittances

    22 September 2016

    MANILA: The apex bank of the Philippines has blamed the derisking strategy of foreign banks behind a decline in remittances by overseas Filipinos. “We are seeing the continuing narrative of derisking, upsetting the otherwise normal flow of remittances,” Manila Times quoted Bangko Sentral ng Pil... Read more ›

  • Philippines’ largest bank sets up first GCC branch

    01 October 2015

    Philippines’ largest bank sets up first GCC branch Manila-headquartered BDO Unibank, the largest bank in the Philippines, has become the first Filipino bank to set up an office in the Gulf Cooperation Council (GCC) where it will operate within the premises of the UAE’s Dubai International Finan... Read more ›

  • myREMIT pays tribute to day-to-day heroes

    15 September 2015

    myREMIT, the remittance arm of ABS-CBN Global Ltd. subsidiary EMoney Plus Inc., continues to pay tribute to day-to-day heroes who sacrifice abroad for their families' future. A video tribute "My Dad Left Me and I'm Thankful For It," produced for myREMIT's 15th anniversary, tells the story of a man ... Read more ›

  • Costly cash

    08 September 2015

    Regulation is raising the cost of sending money to the world’s poor. Reform it SUPPOSE there were a way of getting money to some of the world’s poorest people precisely when they need it. Suppose, too, that the flow hardly ever diminished, even during a global financial crisis. Finally, suppose... Read more ›

  • Inflows sustain rise in June OFW remittances climb to $12.1 B in H1

    18 August 2015

    Remittances from Filipinos living and working abroad grew 5.6 percent in the first half of the year as the June inflow zoomed to its highest level so far this year on the back of sustained demand for skilled Filipino manpower overseas. Bangko Sentral ng Pilipinas (BSP)Governor Amando Tetangco Jr. r... Read more ›

  • teams up with I-Remit to offer direct grocery remittances

    30 July 2015

    BeamAndGo Pte Ltd, an alternative remittance service that guards against misspent funds through digital gift certificates, has forged a partnership with I-Remit to offer over-the-counter payment services for OFWs to provide for their families’ grocery shopping in the Philippines. BeamAndGo CEO Jo... Read more ›

  • OFW remittances in peril

    21 July 2015

    Alarmed over the move by developed countries to shut down remittance firms due to suspicions that these are being used to funnel funds to terrorists, the Philippine remittance industry is appealing to the Aquino administration and multilateral agencies to intervene. Since last year, at least four c... Read more ›

  • BSP bags UN award for financial learning program

    21 July 2015

    The International Fund for Agricultural Development (IFAD) of the United Nations has named the Bangko Sentral ng Pilipinas (BSP) the winner of the 2015 Global Forum on Remittances and Development (GFRD) Public Sector Award. The UN unit recognized the BSP for its Economic and Financial Learning Prog... Read more ›

  • Philippine's remittances stable

    17 July 2015

    Remittances fell for a second month straight in May on a m/m sa basis, further unwinding the March rebound. Philippine's remittances growth remains broadly stable at +5.7% y/y, the same rate of growth was observed last year. With remittances reported in USD, flows continue to be weighed by the near... Read more ›