GENEVA, Switzerland — Wages in industrialized countries will fall 0.5 percent next year due to the economic crisis, although on a global level, salaries will still grow by up to 1.1 percent, the International Labor Office… Read the rest

An economist of the Union Bank of Switzerland (UBS) warned the government that the slowdown in the global market next year might result in a $800-million decline in remittances from overseas Filipinos workers between 2008… Read the rest

WASHINGTON – Filipinos living in the Washington DC metropolitan area are sending less remittances and balikbayan boxes to relatives back home because of the economic and financial crisis in the United States,… Read the rest

While families of overseas Filipino workers still spend their remittances primarily on food and education, monetary authorities have noted that more money is now being set aside for savings and investments.

The Bangko Sentral ng… Read the rest

Given the steady demand for labor especially in the Middle East, Bangko Sentral ng Pilipinas (BSP) Governor Amando M. Tetangco Jr. said he expected remittances from overseas Filipino workers (OFWs) to grow more than originally… Read the rest

Overseas Filipino workers (OFWs) sent $1.5 billion home in June, the highest ever recorded since 1989, bringing the total remittance level to $8.2 billion for the first six months of the year.

Data from the… Read the rest

MANILA, Philippines—Money sent home by overseas Filipino workers (OFWs) through banks hit an all-time high of $1.5 billion in June, up 30 percent from a year earlier, reflecting a strong season for remittances for… Read the rest

KUALA LUMPUR, Malaysia: For 12 years, Rita’s family in the Philippines was fed through two shoe-box sized containers at her feet.

The rectangular matte-black boxes, scuffed with use, contain Rita’s tools of… Read the rest

REMITTANCES from Filipinos rose 13.2 percent to $3.95 billion in the first quarter as more of them left for jobs abroad, the central bank said yesterday.

They sent home $1.43 billion in March alone, a 9.42-percent increase from… Read the rest

Remittances from overseas Filipinos rose 9.4 percent to hit $1.4 billion in March, an all-time record for a single month.

This brought the inflows for the first three months of the year to $4 billion,… Read the rest