Philippines’ dollar reserves hit new record

The Philippines’ dollar reserves reached a new all-time high as of end-2020, the central bank said on Friday. GROSS international reserves (GIR) — which shield the country from liquidity shocks — stood at $109.8 billion as of end-December, up 4.8% from $104.8-billion level as of end-November and 25% higher than the $87.839 billion a year earlier. “This buffer is equivalent…

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Shares rebound as gov’t clears Pfizer vaccine use

By Revin Mikhael D. Ochave, Reporter PHILIPPINE shares ended higher on Thursday, ending its two-day skid, on the government’s approval of Pfizer, Inc.’s coronavirus disease 2019 (COVID-19) vaccine for emergency use. The Philippine Stock Exchange index (PSEi) rose 30.3 points or 0.41% to close at 7,273.15, while the all shares index climbed 16.01 points or 0.36% to end at 4,350.94.…

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PSEi ends three-day climb as mart turns cautious

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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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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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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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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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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PSEi up as Democrats gain control of US Senate

By Revin Mikhael D. Ochave, Reporter PHILIPPINE SHARES closed higher on Thursday as market sentiment was lifted after the Democratic Party gained control of the United States (US) Senate and on the better showing of US markets. Ending its two-day skid, the 30-member Philippine Stock Exchange index (PSEi) improved by 71.76 points or 1.01% to close at 7,119.61, while the…

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Peso climbs further as sentiment improves

THE PESO strengthened against the greenback on Wednesday backed by risk-on sentiment following the extension of key measures for the government’s pandemic response as well as a likely Democrat win in the Georgia senatorial runoff elections. The local unit closed at P48.033 versus the dollar yesterday, gaining 3.2 centavos from its P48.065 finish on Tuesday, data from the Bankers Association…

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PSEi drops on manufacturing data, profit taking

By Revin Mikhael D. Ochave, Reporter SHARES ended in negative territory on Tuesday as investors booked their gains and as market sentiment was dampened by recent manufacturing data. The benchmark Philippine Stock Exchange index (PSEi) fell 63.32 points or 0.88% to close at 7,134.18, while the broader all shares index declined 43.22 points or one percent to end at 4,273.94.…

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