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Overseas Filipinos in US, Middle East countries sent home $33.5 billion in 2023
Personal remittances from overseas Filipinos (OFs), which help drive consumption activities across the country, posted a new record high of USD3.6 billion in December 2023, up by 3.9 percent from the USD3.5 billion reported in December 2022.
BSP confirms forecast and maintains policy settings
The policy-making monetary board of the Bangko Sentral ng Pilipinas (BSP) on Thursday decided to keep its borrowing rate unchanged at 6.50 percent, confirming market forecasts. As at result, the interest rates on overnight deposits and lending facilities were kept at 6 percent and 7 percent, respectively.
Trending task-and-recharge con game a hit among desperate jobseekers
Some of the more gullible among Filipinos easily fall for the latest pseudo-investment schemes to hit the sham market, called the task-and-recharge scheme by the Securities and Exchange Commission, which has since warned the public to stay away from on pain of losing the money in their pockets.
Unless fully validated, Meralco rate adjustment may be premature – ERC
The Energy Regulatory Commission (ERC) on Tuesday renewed the call for the distribution utilities (DUs) to be diligent in validating costs imposed by the generation companies (GenCos) before passing them on to consumers.
FDI proved 13% lower over 11 months in 2023
Foreign direct investment (FDI), the kind welcomed by regulators because they stay invested for the long haul, flowed inward on net basis and rose 27.8 percent in November last year to USD1.0 billion. The inflows persisted from year-ago inflows of only USD820 million, the Bangko Sentral ng Pilipinas said on Monday.
