15 Jul '11, 10am

Philippines says Japan, Arab jobs fallout minimal #economy #Asean

MANILA - PHILIPPINE job losses from unrest in the Arab world and the Japan quake have had little overall impact on the amount of money the huge Filipino overseas workforce sends home, the central bank said on Friday. Cash transfers rose 6.2 per cent from a year earlier to US$7.9 billion (S$9.6 billion) in the five months to May, slightly down from its 6.6 per cent growth in the same period last year, it said in a statement. May transfers rose 6.9 per cent year-on-year to $1.7 billion. 'Data... showed that Filipino workers continued to be deployed abroad, offsetting the job losses resulting from social unrest in the Middle East and North African region and the disasters that occurred in Japan,' it said. About 26,000 Filipino workers fled Libya's civil war this year. The Philippine government also ordered its 1,400 citizens last month to leave Yemen. Remittances by sailors s...

Full article: http://www.straitstimes.com/BreakingNews/SEAsia/Story/STI...

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Philippines Digest – 15 Jul

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