Remittances up by 5.4% in February 2018

 

 

By Rose de la Cruz

 

Remittances of overseas Filipinos hit $2.5 billion in February, up by 5.4 percent from those sent during the same period last year, said Bangko Sentral Governor Nestor Espenilla Jr.

 

This brings the cumulative remittances for the first two months to $5.2 billion, or higher by 8.1 percent on a year on year growth.

 

Land-based workers with work contracts of one year or more recorded a 6.5 percent growth to $4 billion while those from sea-based and land-based workers with work contracts of less than one year…

Read more: Remittances up by 5.4% in February 2018

 Local court convicts officers of closed rural bank in Camarines Sur

 

By Rose de la Cruz

 

The municipal trial court of CamaliganGainza-Milaor in Camarines Sur convicted the former directors and officers of a closed rural bank for falsification of commercial documents as defined and penalized under Article 172 of the Revised Penal Code and Section 35 of RA 7653 or the New Central Bank Act.

 

On March 8, 2018 in a Joint Judgment dated Jan. 31, 2018 promulgated by Presiding Judge Laurencio A. Puto of the MCTC-Camaligan-Gainza-Milaor, Camarines Sur, in Criminal Case No. 2638, Evelyn Cueto Ramirez was found guilty beyond reasonable doubt of the crime of Falsification…

Read more: Local court convicts officers of closed rural bank in Camarines Sur

Phl. To undergo 3rd peer review on anti-money laundering

 

 

By Rose de la Cruz

 

The Philippines, along with 12 of its co-founders of the Asia Pacific Group on Money Laundering, is undergoing the third peer review this year to gauge its levels of compliance with international standards on anti-money laundering and combating the financing of terrorism (AML/CFT).

 

The Philippines is one of the founding members of the APG on Money Laundering, created in 1997 in Bangkok, Thailand, which now has 41 members who all commit to a mutual peer review system.

 

In a February 22 memorandum Executive Secretary Salvador Medealdea designated the Anti-Money Laundering…

Read more: Phl. To undergo 3rd peer review on anti-money laundering

GEARING FOR FUTURE JOBS

 

THE Philippines is developing inclusive innovation hubs to prepare our workers and allow them to adapt to technological advancements and prepare the Filipino workforce for future jobs that include artificial intelligence (AI). 

Trade Secretary Ramon M. Lopez unveiled the plan as the country prepares for the so-called “future of work” which was conceived during the recent CEO Forum held at the sidelines of ASEAN-Australia Special Summit.

The CEO Forum gathered ASEAN and Australian business leaders to discuss six main topics vital to deepening economic integration. 

 

Six topics

Six topics were discussed in separate CEO Forum Roundtables…

Read more: GEARING FOR FUTURE JOBS

FDIs grew 56.7% in January

 

 

By Rose de la Cruz

 

Foreign direct investments grew by 56.7 percent or from $587 million in January 2017 to $919 million for the same period this year.

 

Investor outlook on the country’s economic performance remained positive on the back of strong macroeconomic fundamentals.

 

Net equity capital inflows, which accounted for the bulk of FDI during the period, rose more than eight times to $473 million from $58 million in the previous year. This was driven by the sevenfold increase in equity capital placements to $531 million, while withdrawals amounted to only $58 million…

Read more: FDIs grew 56.7% in January

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