OFW Philippine Economy Army- Remittances rose 7.6% to $1.8 Billion USD in August 2012

Cash remittances from overseas-based Filipinos sent through banks reached $1.8 billion US Dollars in August 2012, increasing at a 10-month high of 7.6 percent from $1.67 billion in the same month last year.

Remittances in August eased from $1.81 billion in July, but still higher than the $1.7 billion average for the first seven months of the year.

This brought the inflows for January to August to $13.7 billion, 5.5 percent higher than the $15.3 billion sent in the same period of 2011.

 

The Bangko Sentral ng Pilipinas said in a statement that eight-month fund transfers rose following a steady stream from both sea- and land-based workers, who accounted for $3.2 billion and $10.5 billion, respectively.

According to BSP officer-in-charge Juan D. de Zuñiga, growth in remittances was sustained by higher transfers—including non-cash items—from land-based OFWs with work contracts of at least one year as well as all OFWs with contracts of less than a year.

The BSP also measures "personal remittances," which cover cash and goods carried into the country as well as travel expenses in countries where the senders work.

In terms of territories from where the funds were sent through banks, the top source was the United States with 43 percent of the total for the eight months. Other key sources were Canada, Saudi Arabia, United Kingdom, Japan, United Arab Emirates and Singapore.

Citing preliminary data from the Philippine Overseas Employment Administration, the BSP said there was continued demand for skilled Filipino workers, with 231,316 job orders for the nine months to September. These workers are needed in Saudi Arabia, UAE, Qatar, Kuwait and Taiwan.

"With expectations of sustained demand for skilled Filipino workers overseas, remittances are projected to continue to boost economic activity and provide a steady supply of foreign exchange," Zuñiga said.

"Moreover, the increasing use of financial channels for transfers and the continued introduction of innovations in remittance products are expected to contribute to the steady flow of remittances into the country," he added.

OFW Philippine Economy Army of the Philippines are non armed forces comprise of more than 10 Million or 10% of the total Philippine Population working outside the Philippines and sending their monthly Dollar remittances that makes the Philippine economy afloat.

These economy armies are non-badge, not officially recognized and no General ranks that save the country from global economic crisis.

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US approved $24 Million Philippine Armament upgrade plus 3rd Hamilton Warship

Philippines gets guns for US-supplied ships

 

The Philippine Navy will get newer and more powerful guns that could augment weapons for two patrol ships acquired recently from the United States.

 

The Pentagon recently awarded a $24 million contract to Kentucky-based BAE Systems Land and Armaments for 21 Mk 38 Mod 2 chain guns for the US and Philippines navies.

 

The Philippines is procuring the guns under the Foreign Military Sales (FMS) program, a US Navy statement revealed.

 

The Philippine Navy acquired the 1st of two Hamilton-class all-weather patrol ships from the US Coast Guard last year. She was re-christened the BRP Gregorio del Pilar and is the spearhead of the country's presence in the disputed Spratly Islands and Scarborough Shoal.

 

The US had stripped the ship of her more sophisticated weapons before turning her over. The Mk 38 Mod 2 gun is an improved version of the 25mm Bushmaster that was taken off the BRP Del Pilar.

 

A 2nd Hamilton-class cutter was turned over to the Philippine Navy last May (re-christened as the BRP Ramon Alcaraz). She is being refurbished and her scheduled arrival in Manila has been delayed to sometime early next year.

 

Another Hamilton-class cutter was retired in San Diego, California this month. A reliable source said the Philippines was seeing if it could get her as well.

 

The Mk 38 Mod 2 fires 180 rounds of 25mm projectiles per minute. Its 4-axis stabilized electro-optical sensor provides round-the-clock surveillance capability.

 

BAE Systems developed the gun with Rafael Armaments of Israel which manufactures the "Typhoon" stabilized marine gun system. The US Navy intensified procurement after the attack on the destroyer USS Cole. They plan to have the remote-controlled guns installed on most of its warships by 2015.

 

Navy officials say the guns provide improved protection against small threats close aboard and even help crews with more mundane tasks, such as finding channel buoys.

 

The brochure boasts that "Line-of-fire stabilization enables the crew to effectively engage target in great precision from safe stand-off distance and rough sea conditions." Operators can follow and fire at a target automatically using electro-optical and infrared sensors and a computer-integrated laser range finder.

 

If the sensors are disabled, gunner's mates can manually aim and fire the gun. It has built-in batteries that allow it to operate for 2 hours even after the whole ship loses power.

 

As reported by the ATMONLINE.CZ a Czech Republic Website in Europe,  the  2 class frigates Gregorio Del Pilar (former Hamilton class cutter acquired in 2011 or 2012 of the United States) - BRP Gregorio Del Pilar (ex USCGC Hamilton [WHEC-715]) and BRP Ramon Alcaraz (ex USCGC Dallas [WHEC-716]) - will be armed with antiballistic missiles RGM-84 Harpoon.

 

In addition, the 2 frigates would be installed modernized unspecified powerful radar, which replaces the original AN/SPS-73 with an integrated fire control system Mk.92 Mod1

 

ABS-CBN News, ATMONLIE.CZ

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