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Dollar remittances of OFWs seen to increase in 2017

by UNTV News and Rescue   |   Posted on Monday, 20 March 2017 12:52 PM

MANILA — Cash remittances of overseas Filipino workers is expected to increase in 2017.

Bangko Sentral ng Pilipinas (BSP) believes so after cash remittances have increased by 8.6 percent at the start of 2017.

Based on preliminary data from the BSP, the amount of remittances recorded in January 2017 has reached 2.169 billion U.S. dollars which is greater than the 1.997 billion U.S. dollars in the same period last year.

Remittances from Filipinos based in oil-producing countries like Qatar, one of the biggest oil producers in the world, contributed a lot.

“We should also expect steady or stable demand for our overseas Filipino workers particularly in the Middle East, the oil-producing, oil-exporting countries. Especially the skills diversification of our overseas workers, and new markets that have been developed in the last few years,” said BSP Deputy Governor Diwa Guinigundo.

According to BSP, the growth of the business process outsourcing (BPO) industry in the Philippines can also contribute to the dollar remittances.

“The expansion is the question. The uncertainty is whether they will expand or not, but I don’t think they will pull out and they will remain,” said  Guinigundo.

Bangko Sentral ng Pilipinas believes that the government’s campaign against illegal drugs and criminality contributes to the increase of foreign investors in the country since peace and order is a big issue for them. —  Mon Jocson | UNTV News & Rescue

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BSP shares tips to determine genuine banknotes from counterfeits

by UNTV News and Rescue   |   Posted on Tuesday, 25 December 2018 05:43 PM

MANILA, Philippines – This time of the year is commonly associated with gift-giving, shopping, and merry-making.

While the public is busy with various festivities, lawless elements are cunningly taking advantage of the holiday rush to execute their crimes.

‘Alan’, a trader of used goods, shared his experience after a couple successfully deceived him of their crafty plan.

The suspects offered to buy his printer but they asked for a meetup in an awkward time in the evening.

“Kasi gabi na iyon. Madilim. Pagod na rin so kwento-kwentuhan. Noong nagbabayad na sila sa akin, habang binibilang ko ang pera, ang style nila, kwento kwentuhan ako, tatanungin ako ng iba ibang bagay. Habang nagbibilang ako, na-distract ako. Noong nakita kong tama iyong P5,000 ibinulsa ko na,” (It was evening and it was dark. I was tired. They kept on talking things. When they handed me the money… their style was they would keep taking to you. They would ask you a number of things while you count. I was distracted. When I saw five the complete P5,000, I put the money inside my pocket,”) he recalled.

“Pero noong una nagtataka ako parang may mali doon sa pera. Ang ganda noong pera. Hindi mo mapapansin na may mali. Hindi mo mapapansin na peke kasi ang ganda ng pagkakaprint. Puro P1,000 na lima. Iyong itsura niya parang kumikinang iyong selyo. Ang ganda ng pagkakagawa hindi mo mapapansin sa umpisa.(“At first, I sensed something wrong with the money. They look so nice. You would never notice that it was fake because they were nicely printed, five P1,000 bill. The seal was bright and shining, you would not suspect that it was fake,”) he said.

But immediately after the transaction, the suspects rushed to the car and speeded fast without even slowing down at the road humps.

“Tiningnan ko sa ilaw ng motor ko. Tinitignan kong mabuti, paulit ulit binabaligtad ko. Tapos napansin ko, pareha parehas ang serial number ng pera. Tapos noong tinalikod ko ang ibang numero ng pera putol,” (“I checked the bills with my motorbikes’ headlight. Very carefully I checked, I flipped the bill front and back. I noticed that the serial numbers on all the bills were the same. When I checked the back side, I noticed some of the numbers were cut,”) he shared in disappointment.

That’s when Alan realized that he was swindled.

The Bangko Sentral ng Pilipinas advises the public to be vigilant in accepting banknotes this holiday season.

The agency said, look for features that will determine genuine banknotes from the fake ones.

These security features include embossed prints, watermark, security fiber, asymmetric serial number, and see-through mark which can be verified through the ‘feel-look-and-tilt’ method.

First, feel if the paper bill is rough to the touch.

Next, look at the banknote very closely and make sure that every detail is clear especially the watermark, security fiber and the asymmetric serial numbers.

Then, tilt the paper bill at about 45 degrees to see the security thread. Check for the concealed value and the optically variable ink and variable patch.

For inquiries and verification, the public may coordinate with the BSP through 988 48 22 or send an e-mail to pisomatters@bsp.gov.ph.- Marje Pelayo (with reports from Nel Maribojoc)

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Acquitted Pinay in UAE arrives home

by UNTV News and Rescue   |   Posted on Friday, 2 November 2018 09:59 AM

Overseas Filipino worker Jennifer Dalquez with her parents

MANILA, Philippines – Jennifer Dalquez, the overseas Filipino worker (OFW) who was sentenced to death in 2015 in the United Arab Emirates but later acquitted of the murder of her employer, finally arrived home in the Philippines on Friday (November 2).

Dalquez was acquitted after the Philippine Embassy appealed her case.

On Thursday (November 1), the Department of Foreign Affairs (DFA) in a statement commended the efforts of the Philippine Embassy for saving her from death row.

Dalquez is a native of General Santos City. – Marje Pelayo (with reports from Aiko Miguel)

 

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Revised SSS charter promises expanded benefits for members

by UNTV News   |   Posted on Friday, 12 October 2018 09:33 AM

 

MANILA, Philippines — The bicameral conference committee has recently approved the revised charter of the Social Security System (SSS) which promises expanded benefits for its members.

The new SSS charter will provide compulsory coverage to overseas Filipino workers (OFW), and increase its loan allotment such as salary loan and retirement benefits.

The measure will also have a lower penalty for overdue contributions from three to two percent. It also promises financial assistance for two months, amounting to half of the monthly salary, for its members who lost their jobs.

“Yung mga nawawalan ng trabaho dahil for example, kumpanya na lumilipat sa ibang bansa or nagsara ang kumpanya dahil nagkaroon ng kalamidad, dapat matulungan natin yung mga empleyado doon na mamuhay o magkaroon man lamang ng supplemental income habang sila ay naghahanap pa ng mapapasukang panibago,” said SSS Media Affairs AVP Luisa Sebastian.

Among those who are looking forward to avail of the SSS unemployment insurance are contractual workers, Mirasol Salvante and Raffy Malacad. They said this would help them sustain their needs while they look for another job when their six-month contract expires.

“Kung walang budget pa mag-aantay. Pahinga muna ganun…mag depend ka ulit sa pamilya mo,” said Salvante.

“’Pag nawalan ng trabaho wala ka agad maasahan na makukuha kasi hindi regular,” said Malacad.

The SSS, however, clarified that not all active members will benefit from the proposed policy.

“Yun ang magiging problema natin, actually kung hindi ka regular na nagbabayad sa SSS, naaapektuhan yung iba mong benepisyo sa SSS,” said Sebastian.

In order to strengthen their fund, the SSS would have to hike the monthly contribution of its members. Under the proposed law, the 11% monthly contribution will increase by 1% starting next year, and gradually hike up to 15% by year 2025.

The Trade Union Congress of the Philippines, meanwhile, welcomes the new SSS charter. However, they are proposing some amendments in its provisions.

“Ang aming panukala ay dapat 6 months na bigyan ng unemployment insurance at yung 6 months na yun ay sapat na panahon para makahanap ulit ng trabaho yung ating mga miembro ng SSS,” said TUCP Spokesperson Alan Tanjunsay.

The group added the agency should also strictly monitor factors that might affect its operations such as the status of its investments, fight against delinquent employers and giving of large bonuses to its employees.

The Social Security Act of 2018 awaits President Rodrigo Duterte’s signature before officially becoming a law. — Mon Jocson | UNTV News & Rescue

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