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PNCC flagged for plan to rent out Pasay property at below-market prices

THE Privatization and Management Office (PMO) has sought a review of the plan of state-run Philippine National Construction Corp. (PNCC) to develop and lease out the government’s 9.9-hectare property in Pasay City at below fair market value.

The PMO said PNCC’s proposal was to rent out the real estate in the Financial Center Area (FCA) along Macapagal Avenue, Pasay City for P300 per square meter under a 25-year contract, that can be renewed for another 25 years, the Department of Finance (DoF) said in a press release on Thursday.

“[The rental fee of P300 per square meter] does not reflect fair market values and may be disadvantageous to the government,” said PMO Chief Privatization Officer Gerard L. Chan in his July 26 letter.

He added the firm’s P500-per square meter rental fee for construction company Pacific Concrete Products, Inc., which currently occupies three hectares of the FCA property, also seems to be outdated compared with current market rates.

The PMO also said the plan also did not consider how PNCC will pay off the P66-billion debt it owes the national government and other state-run firms Development Bank of the Philippines, Philippine Guarantee Corp., and National Development Corp. on top of the P8.35 billion it owes to the Toll Regulatory Board, based on a 2018 audit report.

The Commission on Audit also noted that PNCC left the property idle for three years, which resulted in foregone revenues of P1.5 billion.

“The PMO is unable to give its concurrence (to the PNCC proposal) because, number one, that asset is a government asset and they (PNCC) haven’t taken any steps regarding the settlement of their obligations to the national government; and, number two, their proposed rent is below market value,” Mr. Chan said in his report to the DoF.

BusinessWorld sought PNCC for comment but did not get a response by the paper’s deadline.

The state-run firm aims to develop, construct and manage toll roads, as well as engage in other infrastructure projects of the government. — Beatrice M. Laforga

Jolie wants kids to ‘fight back’ with new child rights book

HOLLYWOOD actress Angelina Jolie says she hopes to empower children around the world with tools to “fight back” for their rights with a book she has written with Amnesty International.

Know Your Rights and Claim Them — written with human rights lawyer Geraldine Van Bueren, one of the original drafters of the 1989 UN Convention on the Rights of the Child — aims to equip kids with the knowledge to safely challenge injustices.

“So many children are in harm’s way across the world and we’re simply not doing enough,” Ms. Jolie told Reuters in an interview. “These are their rights, decided years ago based on what would make them healthy, balanced, safe and stable adults.”

Ms. Jolie, special envoy for UN refugee agency UNHCR, said she hoped the book would also remind governments of their commitment to the global treaty enshrining children’s civil, social, political and economic rights.

“We spent a lot of time blocking those rights, so this book is to help the kids have a tool book to say ‘these are your rights, these are things you need to question to see how far you, depending on your country and circumstance, are from accessing those rights, what are your obstacles, others that came before you and fought, ways you can fight’. So, it’s a handbook to fight back.”

The mother-of-six said she put up the U.N convention in her home for her children, but was surprised to learn her own country, the United States, has not ratified it.

The book addresses identity, justice, education, and protection from harm, among other issues. It provides guidance on becoming an activist, being safe and a glossary of terms and organizations.

“Through the book, you have to find your own path forward, because we are very concerned about the safety of children. We don’t want children just running around screaming for their rights and putting themselves in danger,” Ms. Jolie said.

The book is peppered with examples of powerful young voices from around the world, including Nobel Peace Prize winner Malala Yousafzai, climate activist Greta Thunberg, and 15-year-old Palestinian journalist Janna Jihad.

The book is out in Britain on Thursday and for pre-order in other countries, with the aim of worldwide publication. — Reuters

E-commerce spending to boost RCBC’s card business

RIZAL COMMERCIAL Banking Corp. (RCBC) expects increased e-commerce spending amid the coronavirus pandemic to boost its credit card business.

RCBC Bankard Services Corp. President and Chief Executive Officer Arniel Vincent B. Ong said e-commerce spending rose in the first half of the year and is expected to continue as consumers become more at ease with making online payments.

Mr. Ong acknowledged that the prolonged lockdown has affected incomes, which could make it difficult for borrowers to pay their dues.

“Despite the challenges, we see opportunities in key areas of spend where customer demand is shifting to — essentials, e-commerce or online transactions, installments and cash loans,” he was quoted as saying in a statement.

Credit cards issued by RCBC Bankard in the first semester climbed 44% to 82,000. Meanwhile, credit card transactions rose 19% year on year to P26.4 billion in the same period.

The volume of bills payments made through the RCBC Online Banking app also increased by 2.5 times in the first semester from a year ago, Mr. Ong said.

He added that many cardholders opted for installment schemes to spread out payments for their big-ticket purchases.

The Yuchengco-led lender’s net profit surged 117.8% to P1.747 billion in the second quarter from P802 million a year earlier, backed by an increase in its net interest income and lower provisions for loan losses.

RCBC’s shares closed at P19.88 apiece on Thursday, up by 22 centavos or by 1.12% from its previous finish.

Service companies likeliest to report COVID cases

COMPANIES in the service industry were the likeliest to report coronavirus disease 2019 (COVID-19) cases among their staff, according to the Department of Labor and Employment (DoLE). 

Of the 48,413 establishments the Labor department inspected in the year to date, 4,700 companies reported having COVID-19 cases, mostly in the service sector, Labor Assistant Secretary Ma. Teresita S. Cucueco said in a briefing Thursday. 

The sectors with the most COVID-19 cases after the service sector were manufacturing, retail trade, finance and insurance, and construction sectors, in that order.

“These top five sectors, based on the COVID work accident illness reports submitted by companies to DoLE, have the most COVID-19 cases,” Ms. Cucueco said.

She added that the Labor department continues to inspect establishments nationwide for compliance with COVID-19 health standards and other safety and health rules.

The department’s target is to inspect at least 75,000 establishments over the year.

According to Ms. Cucueco, the most common deficiencies seen during inspections are failure to follow safety and health protocols and the absence of safety officers and safety and health committees to enforce the protocols.

Ms. Cucueco said some companies, “especially startups,” are not aware of the protocols. As such the Labor department follows a “developmental approach,” educating the companies on the required standards and giving them a period of compliance.

“Many companies follow after we help them comply,” Ms. Cucueco said.

As of Thursday, 292 companies out of the 897 applicants have received a Safety Seal Certification from the DoLE.

Ms. Cucueco said some companies, such as groceries, that applied were rejected because they are not under the department’s jurisdiction.

“Those under DoLE’s jurisdiction are manufacturing, construction, utilities, warehouse, and information and communications companies.” — Bianca Angelica D. Añago

2GO cancels 86 passenger voyages for Sept. due to MECQ

2GO Group, Inc. (2GO) has canceled 86 passenger voyages to and from Manila from Sept. 1 to 30 due to the travel restriction imposed by the government to contain the coronavirus pandemic.

2GO, which is engaged in the movement of people under the brand name 2GO Travel, announced on Aug. 31 the cancelation of 17 voyages from Sept. 1 to 6 between Manila and several destinations in the Visayas and Mindanao, including Cebu, Dumaguete, Bacolod, Iloilo, Cagayan de Oro, Zamboanga, and Butuan.

The listed company said the cancelations were made “due to the travel restrictions in and out of Manila brought about by the modified enhanced community quarantine (MECQ) which limits [operations] to essential travels only.”

It made another announcement on Sept. 1 on the cancelation of 20 voyages from Sept. 7 to 12, 17 from Sept. 13 to 18, 16 from Sept. 19 to 23, and another 16 from Sept. 24 to 30.

Affected voyages are those between Manila and main destinations in the Visayas and Mindanao, including Cebu, Iloilo, Bacolod, Dumaguete, Ozamis, Cagayan de Oro, and Zamboanga.

2GO said it offers unlimited rebooking without additional charges on rebooking fees, which is valid for voyages until Dec. 31 this year.

Passengers can also reroute their trips or request a refund.

“We are also waiving surcharges or extra cost for refund and rerouting,” the company said.

The company recently reported that it trimmed its attributable net loss for the first six months of the year to P599.8 million from a loss of P730.5 million in the same period a year earlier.

2GO’s first-half revenues fell 14.3% to P7.8 billion from P9.1 billion in the previous year.  The group attributed its net loss for the first half to the continued slowdown in the economy brought about by the pandemic. — Arjay L. Balinbin

 

Note: The story has been updated to clarify that the word ‘voyages’ pertains only to the group’s passenger services.

R. Kelly accuser says she saw a nearby gun while forced to have oral sex

R Kelly — NSTAGRAM.COM/RKELLY/

NEW YORK — A woman who accuses R. Kelly of sexually abusing her told jurors at his racketeering trial on Wednesday that she was unnerved when she saw a gun near where the R&B singer forced her to perform oral sex on him.

In her second day of testimony, the woman, who identified herself as Faith, said the Los Angeles encounter took place in Jan. 2018, near the end of an 11-month relationship during which Mr. Kelly flew her several times to concerts or recording studios and trained her to please him sexually.

Faith, who said she was 19 when she met the then-50-year-old Mr. Kelly at a San Antonio concert in March 2017, testified that the gun left her “intimidated” and fearful of what would happen if she tried to leave. “I wasn’t even going to step out of line,” she told the jury of seven men and five women in Brooklyn federal court.

On cross-examination, Mr. Kelly’s lawyer Deveraux Cannick tried to poke holes in Faith’s testimony, trying to show jurors it was her choice to keep seeing the singer despite her claims she did not always welcome his sexual advances. “You participated on your own will,” Cannick said to Faith.

Mr. Kelly, whose full name is Robert Sylvester Kelly, has been on trial since Aug. 18 for running what prosecutors called a decades-long scheme targeting women and girls for sex, with the help of employees and assistants in his entourage.

Known for the 1996 Grammy-winning song “I Believe I Can Fly,” the 54-year-old Mr. Kelly has pleaded not guilty to one racketeering count and eight counts of violating an interstate sex trafficking law. — Reuters

Practicing deep work

“What are the reasons why it’s difficult to maintain attention during virtual meetings?” This is a poll question I always ask when running virtual workshops with our clients. The answers range from the usual to the funny, such as “noise from kids playing outside,” “browsing FB/IG while on zoom meetings,” “Shopee/Lazada delivery,” “dogs barking,” and “poor internet connection.” These distractions are always present for many of us working from home, whether it be during virtual meetings or when replying to e-mails, which may impact our productivity.

I have argued in previous articles that workers in the Philippines may have experienced a net productivity decline due to the work-from-home (WFH) arrangements. I noted that the productivity gains from forgoing the daily commute in favor of WFH are cancelled out by environmental factors at home, such as a noisy environment, distractions from family members, and a spotty internet connection.

But the future of work beyond the pandemic is going to be hybrid, i.e., employees working from home part of the time and in an office part of the time. In fact, according to the recent Accenture Future of Work Study 2021, 83% of workers surveyed said a “hybrid model would be optimal.” This is further supported by a survey I conducted with a retail company which revealed that 67% of the workers prefer a hybrid setup.

So how can we minimize, if not, completely remove all distractions from our WFH setup and regain our productivity? Enter “deep work.”

The concept was coined by Cal Newport, the renowned best-selling author of “Deep Work: Rules for Focused Success in a Distracted World” which I read in 2016. Deep work refers to “professional activity performed in a state of distraction-free concentration that push your cognitive capabilities to their limit. These efforts create new value, improve your skill, and are hard to replicate.”

This is a chockful description of the idealized state of working during pre-pandemic time, when our office work environment was replete with distractions from endless meetings and social media. But I’ve come to realize the value of deep work when the pandemic struck — your work hours at home can easily slip away towards activities that Newport refer to as “shallow work,” which he defined as “non-cognitively demanding, logistical-style tasks, often performed while distracted. These efforts tend to not create new value in the world and are easy to replicate.”

“Shallow work” can come in the forms of small work spurts such as replying to e-mails and messaging platforms. While these are necessary, you can easily gravitate to checking personal e-mails and messages until you get buried in the social media rut.

How we can practice “deep work” is by building a deep work routine until it turns into a habit. There are four areas to consider in practicing deep work in a WFH setting:

First is location. You should choose a space at home that’s distraction-free and conducive to long periods of focus. This can be an extra room with the door closed or any area where noise will be minimal. This should also be near your Wi-Fi router so you can connect directly via a LAN cable.  In the absence of such a location, use noise cancelling headphones that will shut the world out while you work and trigger your brain that it’s time to focus. You must be consistent with this environment to breed familiarity which will let you to start a deep work session more rapidly.

Second is duration. Before you get into a deep work mode, decide on how much time you’ll devote to each task. You can work in chunks of 30 or 45 minutes with five-minute breaks in between. If you have successive videoconference meetings, always take a five-minute break in between to rest your eyes. I take this break by stepping out to my garden and looking at the plants and trees. My doctor told me that looking at the greenery for a few minutes prevents eyestrain.

Third is structure. Define what deep work will look like. These are your explicit rules that you follow during the deep work session. For example, will you mute your phone, or will you let yourself check the internet? How will you measure the success of a deep work session, e.g., lines coded, clients called, documents read?

Fourth is requirements. These are the required mechanisms to support your commitment to deep work. This may be a specific type of music, snacks in the afternoon, beverage like coffee or tea, or access to specific software. Be ready to have these before you start to dive in.

There are more concepts on deep work, and you can check out the book and apply in your WFH setting. But the key is harnessing precious resources during this time of distraction — your focus and attention. With this you will truly be productive.

 

Reynaldo C. Lugtu, Jr.  is the founder and CEO of Hungry Workhorse, a digital and culture transformation consulting firm. He is the chairman of the Information and Communication Technology Committee of the Financial Executives Institute of the Philippines (FINEX). He is a fellow at the US-based Institute for Digital Transformation. He teaches strategic management in the MBA Program of De La Salle University.

rey.lugtu@hungryworkhorse.com

Strategic competition between HR managers

The chief executive officer (CEO) of a newly established $10-million enterprise hired two junior human resource (HR) managers at the same time. They were told to handle specialized functions. Manager A is in charge of recruitment, compensation, benefits, and organizational development, while B handles training, employee engagement, discipline, and employee relations. The two managers were given up to 15 months each to perform their best. After that, they were to switch responsibilities in order to experience handling all HR functions. They were expected to perform their best without the CEO’s close supervision. After 30 months, their performance was to be assessed by the CEO, with one to be promoted to senior manager. The “losing” manager had the option to continue working reporting directly to the “winning” manager. What is your opinion about this arrangement? — Yellow Bell.

Anyone can win… unless there are two or more entries. In your case there are two HR managers knowingly competing for a senior managerial position. Is this the right approach? That question is best answered by the CEO, who has created a strategic competition, instead of a close partnership between the two HR managers.

To my mind, however, this is a dangerous and unhealthy situation. Take a cold, honest look by answering this question: How much more important is internal competition than cooperation?

In any work situation, we need cooperation more than competition. If you believe in this, the CEO should reward cooperation and teamwork, not animosity and competition. This means requiring cooperation as an important factor to succeed in one’s job. Reward people who help others do their job in the best way possible. This must be emphasized to the two HR managers.

Let’s borrow an idea from basketball, where assists are a key factor in whether teams win or not.

GUIDELINES
It’s easy to see how competition could erode cooperation. Under such conditions, it would be difficult for both managers to perform individually to the best of their ability. But that’s not all; to understand the role of motivation in a competitive environment, it’s important to explore the time-tested theories of “intrinsic” and “extrinsic” motivation put forward by psychologist Frederick Herzberg.

“Intrinsic” motivation is when one is heavily influenced by a personal goal regardless of “extrinsic” factors like higher pay and benefits that cannot be found elsewhere. That’s why the CEO must consider both types of motivation in challenging the HR managers to cooperate. I recommend the following guidelines to encourage cooperation:

One, establish a clear job description, standards, and goals. This is a statement of what, why, and how the tasks are to be done by each manager. For example, manager A, who is in charge of recruitment, could be given a deadline of 45 days in which to hire new employees. Manager B, who handles employee engagement, may be set a target of maintaining the turnover rate at or below 7%.

Two, provide them with the freedom to do their jobs. This works with the CEO’s preference not to micromanage the two junior managers. Define all things that can be decided at their level without seeking prior approval from the CEO. To make this effective, managers must have the proper authority and responsibility for discharging their functions to a certain extent.

Last, challenge the managers to perform difficult assignments. Allow them to choose special projects that will help the organization improve its efficiency and eliminate operational waste, among other things. HR is typically seen as a cost center. This is good reason to make the two managers address issues that could have a dramatic impact on the business.

DIALOGUE
Even if the CEO keeps a safe distance from the two managers, it doesn’t mean ignoring regular face-to-face interaction or even brief online communication. It’s imperative that an engagement dialogue be performed on a regular, even informal basis to determine the state of their morale at any given time, as most CEOs do not like surprises.

My point is this — what if one of them resigns? People do what they have to do given the right opportunity, particularly if they see the need to leave a toxic, uncooperative work environment or an unreasonable rat race. Without regular interaction, it’s hard to make assumptions about the future. Imagine how much harder that would be for a CEO who waits 30 months to assess the managers’ individual performance.

Even if the CEO gives the two managers the freedom to do their jobs, interaction is key. Each manager must be coached, guided, and nurtured by the CEO without favoritism.

 

Have a free 15-minute consulting chat with Rey Elbo via Facebook, LinkedIn or Twitter or send anonymous questions to elbonomics@gmail.com or via https://reyelbo.consulting

Customer data is key to business growth – Ogilvy executives

By Arjay L. Balinbin, Senior Reporter

DEEPER understanding of customer behavior, purposive use of customer data, and creative technology solutions are the keys to growing businesses today, experts said.

“Everyone’s starting to go into digital now with apps, sites, tech, chat bots, e-commerce, but the bigger challenge is how to stand out, be noticed, and really matter to customers. The starting point should not be the technology itself, but customers,” Ogilvy Philippines Head of Consulting Manny P. Gonzales told BusinessWorld in a recent online interview. 

Ogilvy is an integrated creative agency with capabilities in brand strategy, advertising, customer engagement and commerce, public relations and influence, digital transformation, and partnerships.

He said growth-seeking companies should start with knowing their customers in the new normal, then look into technology and digital implications later on.

Mr. Gonzales outlined three transformational imperatives for growth: transforming how companies get to know their customers, which means having a deeper understanding of their journeys; transforming how they use data, which means it should be purposive; and transforming how they implement technology, which requires creativity and innovation.

Ogilvy Philippines Head of Technology Solutions Francis M. Dy said that what the businesses are seeing “is a shift where customer experience takes over the price and product improvements as a key differentiator.”

“What that means is it’s no longer about price and product improvements. It’s now also about customer experience,” he said. “Your growth is actually going to be tied up to understanding customer sentiment feedback and using that data to actually improve customer experience.”

Having a “deep” understanding of customers, Mr. Dy said, entails recognizing how “customer behavior has evolved” in terms of choosing or purchasing brands, the new pain points and delight points that have emerged, and their business implications.

“Collect data not just for the sake of collecting, but to understand actions, behaviors, and the real human stories behind numbers. After which, go beyond reporting. Use data to power growth and better experiences for the brand,” he said.

Mr. Dy pointed out that the shift to a cookie-less future is a challenge for digital marketing today. “Less cookies means less precise targeting of your audience, and your campaigns now will be more expensive.”

“Personal and transactional data alone are insufficient. The brands need to expand their data foundations to collect more contextual and behavioral data to drive an increase in customer share of moments,” he said.

Companies can “collect and make use of consumer data in all the activation programs that they have in a manner that will help them,” Mr. Dy added.

On technology as a growth driver, he said: “What affects your growth is actually the customer experience, and this is where the creative tech comes in, by adding value through exceptional experiences.”

“Creative tech is basically the intersection of creativity, technology and innovation. We try to get a whole omnichannel experience for our clients. The things that we actually have right now within our network are artificial intelligence or AI, virtual and augmented reality, cognitive AI, Zero UI (zero user interface), voice user interfaces, wearables, and robotics,” he added.

How PSEi member stocks performed — September 2, 2021

Here’s a quick glance at how PSEi stocks fared on Thursday, September 2, 2021.


Entertainment News (09/03/21)

Cinema Under the Stars canceled

DUE to the current pandemic situation and the heightened IATF quarantine protocols on public gathering, the Cultural Center of the Philippines (CCP) and the Cinemalaya Foundation, Inc. (CFI)’s Organizing Committee have had to cancel the outdoor cinema until further notice. Originally scheduled to be held on Sept. 2 to 4, the hybrid outdoor cinema called The CUTS was part of the new programming for the 17th edition of the Cinemalaya Philippine Independent Film Festival, which is still ongoing until Sept. 5 via ktx.ph. The CUTS is considered a “movable feast” because the dates are highly flexible and changeable in response to the government safety protocols, as well as inclement weather conditions. It evolves and adjusts to the nuances of the times. The team behind CUTS is ready to roll out this event when the situation turns around. For more information on this and other Cinemalaya news, follow the official CCP and Cinemalaya social media accounts on Facebook, Instagram and Twitter. Meanwhile, Cinemalaya 17 Main Competition films are now on Vimeo until Sept. 5. All Main Competition Shorts are available to view on Vimeo for P300 with 48 hours unlimited access at https://bit.ly/Cinemalaya17onVimeo. Cinemalaya’s competition and exhibition films are still available for streaming at ktx.ph. Visit https://bit.ly/Cinemalaya2021.

New Lego Harry Potter sets out

THE LEGO Group and Warner Bros. Consumer Products have revealed new Lego sets to help young witches and wizards explore the adventures of Harry Potter’s second year at Hogwarts. The sets are packed full of popular characters, creatures, and imaginative features to help young builders reenact their favorite adventures from the films, as well as crafting magical storylines of their own. Many of the sets also interconnect to extend the play into different areas of Hogwarts. A number of the new sets come with an exclusive golden minifigure to mark the 20th Anniversary of Lego Harry Potter. There is also a specially designed the new Lego Harry Potter Hogwarts Icons — Collectors’ Edition for adult enthusiasts. The set includes memorabilia from the series such as Harry’s wand and glasses, Ron’s chocolate frog, Hermione’s potion tray, Tom Riddle’s diary, the Golden Snitch, and a customizable school scarf. To top it all off, the set features Hedwig with an invitation to Hogwarts. The Collectors’ Edition set is available only on bankeebricks.ph and in all branches of the Lego Certified Stores (LCS) in Trinoma, The 30th Mall, BGC, Greenbelt, and Alabang Town Center. The other new sets are available on bankeebricks.ph, all LCS branches, and selected retailers such as Lazada, Shopee, Dotcom, and Zalora.

PBB opens auditions for 10th season

ABS-CBN’s Pinoy Big Brother (PBB) Kumunity Season 10 begins its search for new housemates as it gears up new season. Auditions for the Adult Edition are running until Sept. 30 via the Pinoy community platform Kumu. The upcoming 10th regular season of PBB will also feature Celebrity and Teen Editions. To audition for PBB Kumunity Season 10, aspiring housemates need to download the Kumu app, create an account, and upload a one-minute Kumu clip where they introduce themselves and say why they deserve to become a housemate, and use the hashtag “PBBKumuAdults.” Auditions for Adult Edition are open to 20 to 40 year olds. Auditions for the Teen Edition, which are open to aspirants ages 15 to 19 years old, will run from Dec. 1 to 31.

BINI and BGYO concerts, fan meet in November

LESS than a year after their official launches, P-pop groups BINI and BGYO have enjoyed several milestones with their fans. BINI’s music video for their debut single, “Born to Win,” was featured in MTV Asia last month and has already crossed one million views, while BGYO has landed on the number one spot on Billboard’s global Next Big Sound chart. BINI and BGYO are collaborating on a concert titled One Dream: The BINI x BGYO Concert, which will be streamed worldwide on Nov. 6 and 7 on ktx.ph, iWantTFC, and TFC IPTV. The show on Nov. 6 will be filled with performances by each group, collaborations on fan favorite songs, and performances by surprise guest artists. On Nov. 7, BINI and BGYO will present more live collaborations, and a fan meet on ktx.ph. SVIP tickets are priced at P1,950 or $39.99 and are inclusive of two shows and the fan meet on ktx.ph. VIP tickets are priced at P1,490 or $29.99 on ktx.ph, iWantTFC, and TFC IPTV and will provide access to the two shows.

GMA drama to star Xian Lim, Jennylyn Mercado

GMA Network star Xian Lim stars opposite Jennylyn Mercado in the upcoming primetime series Love. Die. Repeat. Ms. Mercado plays Angela Zafra, a woman who relives the day of her husband’s death many times over. Mr. Lim plays Bernard Yuzon, Angela’s husband. “First page pa lang ng script, gustong-gusto ko na (from the first page of the script, I really liked it). I’m a huge fan of the genre ng time loop.,” Mr. Lim said in a statement.  The project will be directed by Ulan and Meet Me in St. Gallen director Irene Villamor

Philippines continues to be top destination for remittances in 2020

Philippines continues to be top destination for remittances in 2020