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Sofitel readies transfers, benefits for Philippine Plaza Hotel workers

SOFITELMANILA.COM

SOFITEL Philippine Plaza Hotel said workers who will be affected by the hotel’s renovation in July will be offered interviews in other hotels or else be granted separation benefits.

“There are already more than 200 vacancies waiting for the employees to be interviewed,” Philippine Plaza Holdings, Inc. (PPHI) President Esteban Peña Sy told BusinessWorld by phone on Wednesday. The hotel has nearly 500 workers.

Workers will be offered opportunities in Accor-managed properties as well as other hotels. These range from junior positions to supervisors and managers.

Last week, Accor announced that the 50-year-old Sofitel hotel will cease operations starting July 1 to undergo rehabilitation.

Sofitel also announced a Malasakit Program and appointed a consulting firm to assist with the job transitions.

Mr. Peña Sy said the separation package is around P239 million or $4 million for the employees, adding that the package exceeds the amounts negotiated in collective bargaining by the hotel’s labor union.

PPHI has also sought the assistance of the Department of Labor and Employment (DoLE), the Philippine Hotel Owners Association, and others to help with the placement of its workers.

On May 13, Tourism Secretary Christina G. Frasco met with Sofitel officials and expressed “dismay over the impending closure of Sofitel,” which she described as “an icon of Philippine hospitality for nearly 50 years.”

“We heard the news with much concern, especially that we view our hotel and accommodation sector as a critical component of the industry, especially now that we are making efforts to elevate the status of Philippine tourism vis-a-vis our ASEAN counterparts,” the DoT said in a statement on Tuesday.

The DoT will organize job fairs for affected employees.

Mr. Peña Sy called the rehabilitation a matter of safety at a time when the hotel was doing solid business with an average occupancy rate of 86% in the first quarter.

In the year to date, about 31 fire alarms were triggered and responded to by the fire department. A gas leak was also detected last year.

In September, a water pipe problem forced the hotel to evacuate almost 2,000 guests, who had to be booked in other hotels.

“The hotel engaged independent safety consultants — Bureau Veritas and Meinhardt Philippines — to look into its facilities” he said.

According to the audits conducted by the consultant, DoLE, and the Occupational Safety and Health Center, the building poses a danger to workers and guests.

Mr. Peña Sy said the shutdown was approved by the board and shareholders in April.

“The estimated cost to renovate the hotel, plus adding certain facilities to make it competitive with the newly constructed hotels and hotels under construction, may reach $150 million,” he said.

Sofitel said it will honor engagements and reservations until the end of June before closing its doors. — Aubrey Rose A. Inosante

Century Properties Group Q1 income hits P409.53 million

CENTURY Properties Group, Inc. (CPG) reported a P409.53-million attributable net income for the first quarter (Q1), more than double the P174.02 million a year ago, on strong growth from its development platforms.

“The affordable residential market’s sentiment for quality homes defied the odds of elevated interest and stubborn inflation rates as shown by our strong first-quarter performance. Sales take-up of our PHirst home products remains strong, and we see this further improving for the rest of the year,” CPG Chief Finance Officer Ponciano S. Carreon, Jr. said in a stock exchange disclosure on Thursday.

Revenues for the first quarter rose to P3.58 billion, 7.2% higher than the P3.34 billion in the same period last year; while its combined expenses grew to P2.85 billion from P2.77 billion, the company’s financial report showed.

CPG said its higher revenues for the period were driven by the contribution of its first-home residential development platform or PHirst, which accounted for the majority of its revenues or 58% at P2.1 billion.

The company’s In-City Vertical Developments accounted for 34% of its revenues at P1.1 billion; while its commercial leasing segments contributed 9% or P314 million, and the remainder were from the property management segment.

“Our firm commitment to timely deliver on our ongoing projects and the launching of several residential projects for the year puts us well on track to exceed the group’s prior year’s performance,” said CPG President and Chief Executive Officer Marco R. Antonio.

At the local bourse on Thursday, shares in the company closed 1.72% higher at 30 centavos each. — Ashley Erika O. Jose

Unity though heritage

USAID BIODIVERSITY & FORESTRY/FLICKR

“It has been an amazing 20-year journey for the Filipino Heritage Festival, Inc. (FHFI), in partnership with the National Commission for Culture and the Arts (NCCA). Under Presidential Proclamation No. 439, FHFI promotes the preservation and conservation of our country’s heritage,” Mita B. Rufino, FHFI president, remarked at the opening of the festival. “We keep our heritage, culture and traditions alive and instill in the future generation its im-portance, values and significance…”

It is challenging to produce multiple events throughout the Philippines. Another challenge was during the COVID-19 lockdown when the live activities were cancelled, still, colorful cultural virtual productions were shown online.

“The FHFI has been fortunate through two decades that there are corporations and organizations from the private, government and public sectors who have continuously extended support. They keep the vigor and spirit of FHFI through visual art exhibitions, performing arts, music, dance and theater, culinary and literary events, local tours. Everyone who has been with us since the beginning has seen the enormous challenges,” said Ms. Rufino.

In particular, she thanked Senator Sonny Angara “who believes so much in what we do. His vision in culture and traditions, and continuing support drive FHFI to further heights in our advocacy.”

INDIGENOUS FABRICS
Ms. Rufino pointed out that this year, on its 20th anniversary, the highlight of the Heritage Month celebration “is the collaboration of two organizations, with the same ideals of keeping heritage alive — Artefino and FHF.”

Artefino co-founder Maritess M. Pineda explained the collaboration of the group with FHFI. “It has always been the goal of Artefino to promote the craft of the community to preserve our heritage.

“We have managed to give them a platform and a market for their products. When the younger generation of artisans see that these products have a market, they will be encouraged to dedicate themselves to the trade and not move to other industries. The designers should make the clothes more wearable and adaptable to our daily needs,” she said.

“FHFI brings out the ingenuity, creativity and imagination into an alliance that results in an exquisite fashion-dance production entitled PAMANA: Woven Legacies in Fashion and Dance (with the participation of Danspace Bal-let School),” said Ms. Rufino. PAMANA will be held on May 29 at the Manila Polo Club Main Lounge.

ENGAGING THE YOUTH
There are other interesting activities this Heritage Month, including The Youth Heritage Essay Writing Contest, now on its 5th year. Contest adviser Chichi Salas shared her thoughts: “I have always been interested in heritage stories. Somehow, when I read the entries, I feel we have helped open hearts and minds to things that really matter or should matter. So sad that we can only give a few awards, especially now that entrants are from all parts of the country.”

Cultural worker and creative curator of the “The Youth Forum on Heritage” Delan Robillos said: “The aim is to engage young people in heritage conservation, education and advocacy.”

Heritage Month’s varied activities depend on the community organization or cultural agencies hosting them. These include a Traditional Santa Cruz de Mayo Procession at Intramuros on May 19; a Heritage and Cultural Tour called “Immersion of Intramuros” (with Chinatown and Binondo) on May 21; and a performance by the Philippine Ballet Theater of excerpts from “Vinta” and Sarimanok” in Negros Occidental on May 24 to 26.

The events extend into June, including a month-long exhibit focusing on National Artist Larry Alcala called Slices of Life, Wit and Humor at the Gateway Gallery, Gateway Mall, Araneta City in Cubao, Quezon City.

FHFI Board member Gil G. Chua said: “I feel so proud of all the good and impactful work FHFI has done in the last two decades. The yearly National Heritage Month celebration featuring performances, exhibits, culinary event and other activities emphasizing traditions and customs has indeed enabled us to reach a wider audience of Filipinos to promote rich heritage.

“We shall continue to pursue efforts to instill, especially among the Filipino youth, the appreciation and pride in our culture as a nation and as a race,” he said.

“Mabuhay ang lahing Pilipino.”

Happy 20th anniversary and congratulations to the Board, officers, sponsors, artists, participants of Filipino Heritage Festival, Inc.!

 

Maria Victoria Rufino is an artist, writer and businesswoman. She is president and executive producer of Maverick Productions.

mavrufino@gmail.com

IC places CHSI subsidiary Caritas Financial Plans under receivership

INSURANCE.GOV.PH

THE INSURANCE COMMISSION (IC) has placed pre-need firm Caritas Financial Plans, Inc. (CFPI) under receivership and issued a stay order due to the company’s inability to pay its obligations.

The IC, in a directive dated April 25 and posted on its website on Thursday, placed CFPI under receivership and suspended all payments of claims via the stay order.

The order was issued “in order to consolidate, preserve, and protect the assets of the company for the benefit of the planholders and creditors while undergoing receivership proceedings,” the IC said in a notice to the public.

“CFPI is suffering from liquidity problems, which resulted in continuous delay and difficulty in paying all its obligations,” it added.

The directive comes almost nine months after the pre-need firm was placed by the IC under conservatorship in August 2023, which stopped it from doing business as it was unable to comply with regulatory requirements due to its parent firm health maintenance organization Caritas Health Shield, Inc.’s (CHSI) ongoing financial woes.

“During the period of conservatorship, CFPI was allowed to accept subsequent payments from existing plans alongside with the processing of all claims and benefits of its planholders,” the IC said in the directive.

“However, immediately after placing the company under [conservatorship], it was discovered that CFPI is already suffering delays in the payment of plan termination and other planholders’ claims. Given this, the designated conservator ordered the company to reconcile its disbursement account to properly account all its outstanding obligations with its planholders,” it added.

The regulator said the company also remains non-compliant with its capital and trust fund requirements.

CFPI had a capital deficiency of P118.685 million and a trust fund deficiency of P36.196 million as of Dec. 31, 2023, based on its unaudited financial statements, the IC said.

It had assets worth P1.146 billion and liabilities amounting to P1.206 billion as of end-2023, it added.

CFPI’s parent firm CHSI has been under receivership and a similar stay order since Aug. 1, 2023 due to its inability to comply with the IC’s solvency requirements, as the company had a net worth deficiency of P6.48 billion as of 2018.

CHSI’s other subsidiary, life insurer Caritas Life Insurance Corp., has been under conservatorship since the same date and was likewise told to cease and desist from conducting business.

Healthcare-focused contact center to add 1,000 more seats next year

HEALTHCARE contact center and nurse services provider Carelon Solutions Global Philippines is seeking to add a thousand more seats to its Philippine operation by next year, breaching its 10,000-worker staffing target.

In a briefing on Thursday, Carelon Philippines Chief Country Executive Nicolai S. Agcaoili said the company will continue expanding in the Philippines.

“As we speak, we have more than a thousand jobs in the pipeline. So, with that, my fervent hope is to get us to breach the 10,000 mark,” Mr. Agcaoili said.

The company has more than 9,000 full-time employees across its four sites in the Philippines: GLAS Building in Ortigas, Alliance Global Tower in Taguig, and One Fintech and SM Strata in Iloilo City.

Mr. Agcaoili added: “We are looking at establishing another recruitment hub … and we are also looking at different locations outside of Manila and Iloilo, which I think is testament to our intent to continue to grow.”

He said that the company is looking at tier one and two cities in the various regions and is assessing the talent availability and infrastructure in those areas.

“We’d love to put (the fifth site) up this year, but the thing is, of course, you have to go through proper due diligence. We really are making sure that we’re making the right decision on the next location,” he added.

To house the 1,000 new employees, the company may have to build a new site as its current offices are nearly at capacity. However, office space will not need to correspond to staffing numbers because of work-from-home arrangements.

“Based on the current vacant seats we have, it will not be enough because there’s still going to be growth next year,” Mr. Agcaoili said.

“By October, we’ll already be discussing the pipeline for 2025 and 2026. So it really is just preparing for growth in the coming years,” he added.

Though talent serves as the country’s competitive edge, he said that the healthcare information and management services industry faces challenges in finding qualified candidates.

“Talent will always be at the top of the list of challenges. There’s demand, so part of how we are solving it is that we need to go outside of our own silos,” he said.

“We partner with different universities and extend needed training that is customized and tailor-fit not just for healthcare but overall for business process outsourcing … because that is the only surefire way for us to be able to help solve this,” he added. — Justine Irish D. Tabile

Back to Black brings Amy Winehouse story to big screen

IMDB
IMDB

LOS ANGELES — Director Sam Taylor-Johnson didn’t want her 2024 biographical drama film about the late British singer-songwriter Amy Winehouse to be too similar to the 2015 Oscar-winning documentary by Asif Kapadia.

“I felt like I had to make something very different to the documentary,” Taylor-Johnson told Reuters about her movie Back to Black.

“It had to feel like a different perspective, and I felt like the best perspective to give her was to actually allow her to tell her story through her music,” the British filmmaker added.

The movie, distributed by Focus Features, chronicles Ms. Winehouse’s upbringing in a Jewish family, her career, romances — and the addiction that would lead to her death.

The six-time Grammy-winning artist was known for blending elements of jazz, soul, and rhythm and blues.

While reviews of the film have been overwhelmingly negative from critics in the United Kingdom (UK) and Ireland so far, many believe that lead actor Marisa Abela, who portrays Ms. Winehouse, delivered a successful performance.

“There are moments when Abela disappears and Winehouse bursts on to the screen, like a magic eye picture blinked fleetingly into focus,” critic Wendy Ide of The Guardian wrote in her review.

“But the film is wildly uneven and prone to catastrophic misjudgments,” she added.

Her review is one of the many to criticize the movie on the review aggregator website Rotten Tomatoes, which has the film at a rotten rating of 38% so far.

However, the film’s UK and Ireland box office numbers did not reflect the negative reviews, as the film topped both box offices on its opening week.

More reviews will be added following the movie’s arrival in US movie theaters on Friday.

Back to Black is now showing in Philippine theaters with an MTRCB rating of R-16.

Ms. Abela spent 12 months attempting to capture every aspect of Ms. Winehouse, but she knew she could never capture the “Rehab” singer completely.

“There are so many different versions of Amy, and it’s almost like, the more you know, the less you know, because she’s so huge and all-encompassing,” Ms. Abela said.

When Ms. Abela spoke to the people who were in Ms. Winehouse’s life, including her father, her friends, her co-workers and others, each person had a different opinion on the most important thing to portray about her.

Despite an array of input, Ms. Abela found a definitive connection to Ms. Winehouse by wearing her clothes.

“We actually managed to pull in some of Amy’s original clothes so Marisa would be wearing Amy’s clothes, so that level of detail was so important,” Ms. Taylor-Johnson said. — Reuters

Angkas rolls out expanded emergency response services in NCR, CdO, and Cebu City

DBDOYC, Inc., the company behind the Angkas motorcycle taxi app, said it has expanded its emergency response program to include a 24/7 team with trained professionals and collaboration with hospital and ambulance networks.

“We’ve broadened our training, acquired new equipment, and refined our skills to better handle potential emergencies,” Angkas Emergency Response Team (ERT) Lead Marlon Abilong said in a statement on Thursday.

The company said the enhancements to its ERT include 24/7 coverage by EMT (emergency medical technician) responders, “achieving an emergency response time of 15 to 30 minutes.”

“The program collaborates with numerous accessible hospitals and ambulance networks, and includes certified EMTs skilled in performing on-site responses that include real-time triaging and interventions,” it added.

Mr. Abilong said the ERT also facilitates insurance procurement for stakeholders when needed.

According to Angkas Biker Representative and certified EMT Bernabe “Jhun” Romerosa, the process starts with a call to the 24/7 emergency hot-line (Globe: 0917 3264 527 or Smart: 0918 9264 527) or support team, identifying the location and assessing the situation, and then dispatching an EMT to provide immediate care.

“If necessary, we have a backup or call an ambulance to transport the individual to the nearest hospital,” he added.

He also said that basic life support training and EMT certification are essential qualifications for the company’s ERT team.

“It took me about three months of study to get certified. However, certification alone is not enough; a genuine passion for responding to emergencies is crucial,” Mr. Romerosa said.

Angkas said it has clinics in Cainta and Makati, where checkups are available for bikers and families. This also includes basic life support and first aid training.

The company’s ERT is currently active in the National Capital Region (NCR), Cagayan de Oro (CdO), and Cebu City.

Additionally, there are plans in place to extend the operational reach to other locations, according to the company.

“Our Angkas Buhay patrols Metro Manila, and should we encounter anyone requiring medical attention due to an emergency, we are ready to assist,” Mr. Abilong said.

Mr. Romerosa also urged riders and passengers to stay vigilant and adhere to traffic regulations as a precautionary measure. “For bikers, simply follow traffic laws; and for passengers, avoid using cellphones while riding,” he said.

He noted that Angkas currently maintains a safety record of “99.997%.” — Aubrey Rose A. Inosante

China and persona non grata

FREEPIK

No one is above the law. Specially if you are from a foreign country that has the unseemly habit of committing malice against the Philippines, particularly by trying to grab its territories with obvious, overt, and complete disregard of international law.

Hence, if officials from China assert the existence of audio recordings to bolster its claim of a “gentleman’s agreement” or “new model” but admittedly without the knowledge or assent of the participants to such recordings, then a violation of Philippine law is clear.

RA 4200 (or the Wiretapping Law) declares that it’s “unlawful for any person, not being authorized by all the parties to any private communication or spoken word, to tap any wire or cable, or by using any other device or arrangement, to secretly overhear, intercept, or record such communication or spoken word by using a device commonly known as a dictaphone or dictagraph or dictaphone or walkie-talkie or tape recorder, or however otherwise described.”

If it turns out that no such recording exists but rather audio material has been manipulated to create a fake audio recording, then RA 10175 (Cybercrime Prevention Act of 2012) applies instead. Hence, the likely culpable acts are a.) computer-related forgery — which is the input, alteration, or deletion of any computer data without right resulting in inauthentic data with the intent that it be considered or acted upon for legal purposes as if it were authentic, regardless whether or not the data is directly readable and intelligible; or the act of knowingly using computer data which is the product of computer-related forgery as defined herein, for the purpose of perpetuating a fraudulent or dishonest design; or b.) computer-related fraud — which is the unauthorized input, alteration, or deletion of computer data or program or interference in the functioning of a computer system, causing damage thereby with fraudulent intent.

Either way, a crime has been committed. If the Chinese individuals concerned (or some of them) are private citizens or government officials but without diplomatic personality, then criminal prosecution is the necessary con-sequence.

If, however, the Chinese official is imbued with diplomatic functions and immunity, then the provisions of the Vienna Convention on Diplomatic Relations (VCDR) come in: “The receiving State may at any time and without having to explain its decision, notify the sending State that the head of the mission or any member of the diplomatic staff of the mission is persona non grata or that any other member of the staff of the mission is not acceptable. In any such case, the sending State shall, as appropriate, either recall the person concerned or terminate his functions with the mission. A person may be declared non grata or not acceptable before arriving in the territory of the receiving State” (Article 9).

Note that if China refuses to accept the Philippine “persona non grata” declaration, then the Philippines “may refuse to recognize the person concerned as a member of the mission.” In which case, he can be criminally prosecuted like any ordinary person.

Incidentally, the mere fact that China has been dealing directly with our Department of Defense already constitutes an international law violation. The VCDR requires China to conduct its business through the Philippine Department for Foreign Affairs. Furthermore, the premises of the mission must not be used in any manner incompatible with the functions of the mission as laid down in the present Convention, other rules of general international law, or by any special agreements in force between the sending and the receiving State.

Which leads us to the fact that it is illegal for anyone to knowingly possess, replay, or make transcriptions of any record or similar type of any communication or spoken word created in violation of the Wiretapping Law, or willfully or knowingly aid or permit such acts.

The crime of “inciting to sedition” is also committed if a person, without taking any direct part in the crime of sedition, should incite others to the accomplishment of any of the acts which constitute sedition, by means of speeches, proclamations, writings, etc. This includes passing on the misinformation that the Chinese officials concerned are not accountable for the violation of Philippine or international law. Hence too, any person that acts to disturb or obstruct any lawful officer in executing the functions of his office, or which tend to instigate others to cabal and meet together for unlawful purposes, or which suggest or incite rebellious conspiracies or riots, or which lead or tend to stir up the people against the lawful authorities, commits the crime of inciting to sedition.

It must be emphasized that foreign diplomatic officials need to respect the laws of the Philippines and ensure that they do not interfere in the internal affairs of our country. Whatever impression people may have from watching movies, international espionage is not accepted under international law and the Philippines is fully correct in enforcing its constitutional provisions or international law rights.

The views expressed here are his own and not necessarily those of the institutions to which he belongs.

 

Jemy Gatdula is the dean of the Institute of Law of the University of Asia and the Pacific and is a Philippine Judicial Academy lecturer for constitutional philosophy and jurisprudence. He read international law at the University of Cambridge.

Philippines’ 2023 suspected digital fraud rate higher than global level, study shows

UNSPLASH

SOME 8.3% of all digital transactions by consumers in the Philippines last year were suspected to be fraudulent, 66% higher than the global digital fraud rate of 5%, based on a study by TransUnion.

TransUnion’s 2024 State of Omnichannel Fraud report showed that for transactions where the consumer or fraudster was located in the Philippines, retail saw the highest suspected digital fraud rate at 11.8%, it said in a statement.

This was followed by financial services (10%), communities such as online dating and forums (5.2%), logistics (4.4%), public sector (3.9%), travel & leisure (3.2%), and telecommunications (2.4%).

Still, the retail sector saw an 18% decrease in the digital fraud rate from 2022.

Suspected digital fraud attempts in logistics, telecommunications, and travel and leisure also went down by 54%, 44%, and 2%, respectively.

“Financial services tallied the greatest increase in the suspected digital fraud rate, up 41% in 2023 from 7.1% in 2022. While the total number of financial services digital transactions when the consumer was in the Philippines was 51% higher in 2023 compared to the previous year, the volume of suspected digital fraud in this industry significantly outpaced this growth, with a surge of 113% from 2022 to 2023,” TransUnion added.

The digital fraud rates for communities and the public sector also went up by 9% and 4% year on year, respectively.

“While the global retail industry has consistently been among those with the highest suspected digital fraud attempt rates in recent years, we saw it placed at the top of the list both locally and globally in 2023. More concerning is the situation in the Philippines, where the suspected digital fraud rate across various industries exceeds global averages, except for telecommunications,” TransUnion Philippines Chief Commercial Officer Yogesh Daware said in a statement.

“As a result of credentials stolen in data breaches, it has become increasingly easy for fraudsters to perpetuate attacks that leave consumers vulnerable to account takeover at an earlier stage in the customer journey. In response to this, it is crucial for organizations across industries to take proactive measures to enhance their protection throughout the entire customer lifecycle. This entails strengthening capabilities at every touchpoint to ensure comprehensive protection for both businesses and consumers,” he added.

The study found that fraudsters were shifting tactics and engaging with potential victims at an earlier stage in their consumer journey, with 13.3% of Philippine-based transactions associated with account logins suspected to be digital fraud last year.

The second-highest percentage of suspected digital fraud in the customer journey was in account creation at 3.2%.

TransUnion said local occurrences of digital fraud attempts in the earlier stages of account logins and creation were significantly higher compared to the final transaction stage, which was at 1.2%. The latter stages usually involve activities such as purchases, withdrawals, and deposits.

“This rise in suspected digital fraud in the account login and creation stages of the consumer journey may represent a paradigm shift of sorts among fraudsters,” Mr. Daware said.

“Alongside traditional tactics to gain access to and ultimately compromise existing accounts, fraudsters are also increasingly choosing to create new accounts that they can control themselves. As data breaches continue to pose a threat to sensitive or confidential information across various industries in the Philippines, fraudsters could possibly leverage synthetic identities assembled in large part using credentials gathered from such incidents,” he added.

The study also found phishing was the most reported fraud scheme in the Philippines, with 57% of respondents saying they were targeted but did not fall victim to these, while 11% said they were victimized and 33% said they were not targeted.

TransUnion conducted an online survey of 13,923 adults aged 18 years or older from Dec. 5-23, 2023 in 18 countries. — A.M.C. Sy

Austria looking to take in more Filipino workers

REUTERS

THE Department of Migrant Workers (DMW) said Austria is looking to admit more skilled labor across all industries, at a rate of about 500 a year.

Migrant Workers Secretary Hans Leo J. Cacdac said the two countries kicked off Philippine-Austria Friendship Week on Wednesday with talks on promoting safe and fair labor migration.

Austria is home to about 5,000 overseas Filipino workers (OFWs) employed mostly in the hospitality, food service, and healthcare industries.

“We are here not just to celebrate the mutual friendship between the two nations but also to collaborate on other areas of cooperation continuously, particularly on the deployment of Filipino professionals and skilled workers,” Mr. Cacdac said during the event’s opening session in Mandaluyong City.

Mr. Cacdac said the Migrant Workers Office (MWO) in Vienna will open in the third quarter to support the increasing number of Filipino workers in Austria and provide guidance to Austrian employers.

The MWO in Milan currently oversees migrant worker affairs in Austria. In 2022, the number of OFWs deployed to Austria rose 127%.

Austrian Federal Ministry of Labor and Economy Director-General Georg Konetzky, speaking at the same event, reaffirmed his country’s “highest protection standards” for migrant workers and is “committed to safe and ethical labor migration.”

“Austria has many decades of excellent experience with qualified workers from the Philippines, especially in the healthcare sector. We are grateful for the reliable support of well-educated and skilled Filipino workers helping us address our labor demands,” he said.

Last year, the two countries signed a labor agreement in Vienna.

Austria expressed interest in hiring about 500 OFWs yearly to help fill around 75,000 to 200,000 job openings in healthcare, construction and engineering, information technology, and tourism and hospitality.

In an April briefing, the DMW projected sustained growth for remittances from OFWs in Europe.

“From 2022, we can see that there was a 3-5% increase in remittances. We can see that with the number of engagements we’re having (in Europe), it will definitely increase in 2024,” Undersecretary Patricia Yvonne M. Caunan said at the briefing.

The Central Bank reported that $3.8 billion worth of remittances came from Europe in 2023.

Hungary, Portugal, Spain, and the Czech Republic are among the new countries the Philippines established labor agreements with. — Chloe Mari A. Hufana

How PSEi member stocks performed — May 16, 2024

Here’s a quick glance at how PSEi stocks fared on Thursday, May 16, 2024.


Total Approved Foreign Investment Pledges

FOREIGN INVESTMENT pledges slumped by 63.6% in the first quarter as global economic challenges prompted investors to be more wary of investing in emerging markets like the Philippines, analysts said. Read the full story.

Total Approved Foreign Investment Pledges