PHILIPPINE SHARES closed in negative territory on Tuesday, ending its three-day rally, as investors opted to pocket gains following a global debt watcher’s comments on the country’s growth prospects. The benchmark Philippine Stock Exchange index (PSEi) dropped 46.68 points or 0.63% to close at 7,258.11, while the broader all shares index fell 35.57 points or 0.81% to end at 4,337.76.…
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Fed's Bostic sees possible interest rate hike as soon as the second half of next year
Rates could rise sooner than forecast as the economy recovers more quickly than expected from Covid-19, Bostic said Monday Source link
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Stocks rise on proposed changes to Constitution
By Revin Mikhael D. Ochave, Reporter STOCKS ended in positive territory on Monday as the market welcomed a proposal to amend economic provisions of the 1987 Philippine Constitution to attract more foreign investments into the country. The bellwether Philippine Stock Exchange index (PSEi) improved 14.91 points or 0.2% to close at 7,304.79 yesterday, while the broader all shares index rose…
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Israel's massive vaccine drive isn't keeping up with new cases — especially among younger victims
A record amount of young people in Israel are contracting the virus accounting for a record one quarter of the most serious Covid cases Source link
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Peso to climb versus dollar on stimulus hopes
THE PESO is expected to bounce back versus the dollar this week as the market anticipates the leadership change in the United States and on developments regarding coronavirus vaccines. The local unit finished trading at P48.088 versus the dollar on Friday, shedding 1.8 centavos from its P48.07 close on Thursday, data from the Bankers Association of the Philippines showed. It…
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Covid killing nearly 3,000 in U.S. every day as CDC warns of 'surge event' from Capitol riots
"We're going to continue to see mortality in the 2,500-5,000 a day range," CDC Director Dr. Robert Redfield told the McClatchy news agency in an interview. Source link
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November trade deficit narrowest since June
By Arjay L. Balinbin, Senior Reporter The Philippine trade deficit dropped to its lowest level in five months in November, suggesting that trade could contribute to economic growth in the fourth quarter, though declining imports hinted at slowing domestic demand. The trade deficit was $1.73 billion, lower than $1.79 billion in October and $3.65 billion in November last year. The…
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Global semiconductor shortage causes Ford and Nissan to cut vehicle production
The production disruptions highlight a growing concern for the global automotive industry in 2021. Source link
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October FDI net inflows lowest since April
By Beatrice M. Laforga, Reporter Foreign direct investments (FDI) to the Philippines in October fell to the lowest level in six months, amid a fresh surge in coronavirus infections overseas, according to the central bank. FDI net inflows shrank by a quarter to $423 million from $561 million a year earlier, the second straight month of yearly decline, according to…
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'It's extremely frustrating:' IRS unresponsive as Americans seek answers on stimulus payments
Taxpayers are increasingly frustrated that they have not received their stimulus checks and the IRS will not answer their questions. Source link
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