Lower remittance fees for OFWs
A new remittance system that will allow for a safer, faster and cheaper remittances by OFWs (overseas Filipino workers) will be implemented by the Bangko Sentral ng Pilipinas (BSP) starting on the third quarter of the year. This is the new Philippine Payments and Settlements System or Philpass Remit System. Under this new system, the [...]
May 25, 2010
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Tags: Business, finance, money, OFWs, Philpass, remittances · Posted in: Announcement, banking, Consumers, economy, finance, Government, money, OFWs, Philippine business news, Philippines
PNB, Bank of China tie up in handling remittances
Philippine National Bank (PNB), the country’s seventh largest bank in terms of assets, has signed an agreement with the Bank of China (BOC) in handling remittances of Chinese nationals who are based in Italy. PNB’s tie-up with BOC expands the market coverage PNB Italy SpA, which was established primarily to facilitate remittances of Filipinos who [...]
April 8, 2010
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Tags: agreement, Bangko Sentral, bank, Bank of China, banking, Boc, contract, Foreign exchange, money, network, OFW, Philippine National Bank, Philippines, PNB, remittances · Posted in: banking, Corporations, economy, finance, Foreign exchange, money, OFWs, Philippine banks, Philippines
Peso to reach P44 to $1
Prakriti Sofat, an economist from leading global investment house Barclays Capital said the peso could reach 44 to the dollar level by the end of the year because of recovery in exports and the steady inflows of remittances. In the report from Philippine Star, Sofat said the outlook for Philippine exports remains positive given the [...]
March 14, 2010
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Tags: dollar, economy, export, Foreign exchange, forex, Peso, Philippines, remittances · Posted in: banking, Consumers, entrepreneur, finance, Foreign exchange, Government, investments, money, Philippine business news
