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News East West

NEW YORK: China’s Su Bingtian (right in picture) became the first Asian man to run the 100-metre race in less than 10 seconds.

Su clocked 9.99 seconds at the Diamond

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News East West

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Published in China

Chinese security forces have moved quickly to silence newly crowned Miss World Canada Anastasia Lin, threatening her father who lives in China that if she...

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Epoch Times

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Published in National

Prime Minister Modi’s trip to China, Mongolia, and South Korea has succeeded in giving the message that the rise of Asia in this century is inevitable and that the 21st century is going to be remembered as Asia’s century. Even though the trends of western decline and the rise of the East are very clear, yet the West is not ready to accept the new realities and wants to desperately hold on to the present unipolar world order, which is based upon western domination and American hegemony. 

The Link

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Published in International
Thursday, 21 May 2015 00:00

Celebrating in the Face of Persecution

TORONTO—Today is a time to rejoice for these few hundred meditators who have gathered on Nathan Phillips Square, people who believe they’ve found the law...

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Epoch Times

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Published in Arts & Culture

Shanghai (IANS): Prime Minister Narendra Modi on Saturday stressed the shared legacy of Buddhism between India and China and their commonalities, including their large population, and said the two countries together could not only solve their problems but also be a force of good for the entire world. Modi, who wound up his three-day visit […]

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Indo-Canadian Voice

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Published in International

By Dr. Sawraj Singh The 70th anniversary of Russia’s victory over Germany in the Second World War was celebrated in Moscow on May 9, 2015. This was the largest such parade in Russia’s history. Besides 16,000 Russian troops, soldiers from countries such as China and India also participated. There was a massive display of Russian weaponry. This sends a strong message to the world that not only Russia is the leading nuclear power of the world, it is also a very big conventional military power. By winning the war with Georgia in 2008 and by winning the Ukraine war in 2015, Russia has re-established its credentials as one of the most important players in world politics.

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The Link

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Published in Eastern Europe

News East West

After signing as many as 24 agreements with China in Beijing on Friday, Prime Minister Narendra Modi did something that is unheard of with stiff Chinese leaders. Modi posed for a

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News East West

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Published in India

Xi’an/Beijing (IANS): With China’s rich cultural heritage and the ancient links of Buddhism forming a grand backdrop, Prime Minister Narendra Modi on Thursday held “extremely productive” summit-level talks with Chinese President Xi Jinping during which the border issue, the widening trade imbalance and “strengthening trust” were high on the agenda. Modi, who arrived in Beijing […]

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Indo-Canadian Voice

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Published in International

OTTAWA—Ottawa Falun Gong practitioners as part of a nationwide and worldwide demonstration took to the grassy area across the street from the Chinese embassy on...

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Epoch Times

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Published in China
Sunday, 26 April 2015 09:50

Remittance 'Mega-Flows' to Asia

Remittances to the Philippines reached $28 billion US in 2014, making the country the third largest remittance recipient in the world, a report from the World Bank (WB) showed.

The country is preceded only by India, which received remittances of $70 billion, and China, $64 billion. Mexico and Nigeria followed the Philippines, having received $25 billion and $21 billion, respectively.

Total remittances in 2014 reached $583 billion, representing a 4.7 per cent growth from 2013.

With new thinking, these mega-flows can be leveraged to finance development and infrastructure projects.” - Kaushik Basu, World Bank

“This (total remittances) is more than double the ODA (official development assistance) in the world… With new thinking, these mega-flows can be leveraged to finance development and infrastructure projects,” said the bank’s chief economist and senior vice president Kaushik Basu.

For this year, global remittances are projected to grow by 0.4 per cent, the slowest growth rate since the global financial crisis in 2008.

In 2015, total remittances are expected to reach $586 billion.

The United States, Saudi Arabia, the United Arab Emirates, United Kingdom, Singapore, Japan, Hong Kong and Canada are the top countries where Filipinos work or migrate.

“The slowdown in the growth of remittances this year will affect most developing countries…The positive impact of an economic recovery in the U.S. will be partially offset by continued weakness in the Euro area, the impact of lower oil prices on the Russian economy, the strengthening of the US dollar, and tighter immigration controls in many remittance source countries,” the report said.

Slowdown Seen in 2015

For East Asia and the Pacific, the World Bank said the growth will also be slower. From an estimated 7.6 per cent growth in 2014, growth this year is seen to hit 2.8 per cent.

Citing data from the Philippine Overseas Employment Administration, the BSP said 1.6 million Filipinos were deployed last year, while job orders increased by 10.7 per cent to 878,609.

The United States, Saudi Arabia, the United Arab Emirates, United Kingdom, Singapore, Japan, Hong Kong and Canada are the top countries where Filipinos work or migrate.


Published in partnership with Asian Pacific Post.

 

Published in The Philippines

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