Monday, November 18, 2019

Sep 05 18, 9:08 am

POEA warns Pinoys against violating Japan’s visa regs

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Labor Chief encourages OFWs to become entrepreneurs

Labor Secretary Silvestre Bello III has called on Overseas Filipino Workers (OFWs) to go back to the country and invest in businesses. Bello made the call at the National Reintegration Center for OFWs (NRCO) and the Integrated Seafarers of the Philippines (ISP) 2019...

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PH inflation rate in August hits new 9-year high of 6.4%

by | TOP STORIES

Sep. 05, 18 | 9:08 am

A government report released on Wednesday, September 5, revealed that the Philippines’ inflation rate in August 2018 hit 6.4 percent, a new high in nearly a decade.

The new record high Inflation rate is only 0.2 percent shy from the 6.6 percent inflation rate recorded in March 2009.

For the past six months, inflation rate also exceeded the Bangko Sentral ng Pilipinas’ estimates of two to four percent.

Despite this, Budget Secretary Benjamin E. Diokno said the inflation is expected to slow down in the last quarter of the year. This was echoed Bangko Sentral Governor Nestor Espenilla who said that inflation will return within the comfort range next year.

How will this affect OFWs?

Inflation rate is defined as the sustained increase in the prices of general and common goods and services in a country.

While the dirham-peso exchange remains high within the Php14.50 – Php14.60 range, as of press time, it means nothing for OFW families if the continuous inflation in the country and uptick in prices would be taken into consideration.

Several lawmakers are already seeking ways to help OFW families with the rising prices of goods in the Philippines.

Earlier, ACTS-OFW Representative Aniceto Bertiz III called for banks to lower remittance charges from the average 10.57 percent transfer charge to 5 percent.

Bertiz said the move can help OFWs save extra money since the rising prices of goods in the country only negates the lower value of peso.

“Reducing the cost of bank remittance services to 5% would mean some $1.5 billion or P80.1 billion in cost-savings and extra money in the pockets of our migrant workers and their families every year,” Bertiz said.

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POEA warns Pinoys against violating Japan’s visa regs

POEA warns Pinoys against violating Japan’s visa regs

The Philippine Overseas Employment Administration (POEA) has issued a warning to Filipinos on the severe penalties imposed by the Japanese government for violating its visa policies. Lawyer Bernard Olalia, POEA administrator said violators could face detention and...

Labor Chief encourages OFWs to become entrepreneurs

Labor Chief encourages OFWs to become entrepreneurs

Labor Secretary Silvestre Bello III has called on Overseas Filipino Workers (OFWs) to go back to the country and invest in businesses. Bello made the call at the National Reintegration Center for OFWs (NRCO) and the Integrated Seafarers of the Philippines (ISP) 2019...

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THE FILIPINO TIMES is the biggest and most trusted Filipino newspaper in the UAE.

It has a print run of 60,000 copies and 250,000 readership per week; bolstered by 1 million visitors to its website every month. It also has an e-newsletter sent to its 250,000 subscribers every day.

The Filipino Times is FREE and has the widest targeted circulation across the 7 emirates of the UAE.

With more than 2,500 strategic distribution spots, TFT is available where the Filipinos are - at Smart Bus Shelters, Metro Stations, restaurants, supermarkets, schools, airport lounges, Emirates and Etihad Philippine-bound flights, churches, Filipino community events and many more.

THE FILIPINO TIMES. We are where the Filipinos are.

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