PHILIPPINE SHARES closed in the green as investors remained optimistic after the country’s coronavirus disease 2019 (COVID-19) vaccinations started. The benchmark Philippine Stock Exchange index (PSEi) went up by 46.57 points or 0.67% to close at 6,919.54 on Tuesday, while the broader all shares index climbed 14.52 points or 0.34% to 4,179.92. “The local bourse managed to close the day…
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Apple stock has biggest day since Oct. 12 after Buffett endorsement, stores reopen
The rise comes after Berkshire Hathaway chairman and CEO Warren Buffett said in his letter to investors published this weekend that his firm owns 5.4% of Apple. Source link
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Peso steady on PMI data, vaccination
THE PESO closed unchanged versus the greenback on Monday as the market priced in steady manufacturing activity in February and the start of the government’s vaccination drive. The local unit closed at P48.59 per dollar on Monday, unchanged from its Friday finish, data from the Bankers Association of the Philippines showed. The peso opened Monday’s session at P48.60 per dollar.…
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CDC panel recommends use of J&J's single-shot Covid vaccine
CDC Director Dr. Rochelle Walensky said Friday that she would "stand by to review" the ACIP's recommendation and be "ready to sign." Source link
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Peso expected to weaken vs dollar as focus turns to vaccines
THE PESO will likely weaken against the greenback this week on risk-off sentiment due to the recurring delay in vaccine delivery, which is seen dimming prospects for the country’s recovery, as well as expectations of quicker inflation. The peso closed at P48.59 versus the dollar on Friday, appreciating by 1.5 centavos from its P48.605 finish on Wednesday, based on data…
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Op-ed: A digital dollar would help the U.S. and its allies keep China in check
U.S. officials this week offered their most full-throated endorsement yet of a digital dollar. Meanwhile, China has accelerated efforts for a digital currency. Source link
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Duterte signs bill creating coco levy trust fund
President Rodrigo R. Duterte on Friday night signed a measure creating a levy trust fund for coconut farmers, according to the presidential palace. Republic Act 115421 or the Coconut Farmers and Industry Trust Fund Act seeks to declare coconut levy assets as a trust fund to rehabilitate and modernize the country’s coconut industry. The measure lets poor coconut farmers benefit…
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Rising interest rates may continue to test the stock market in the week ahead
The rapid rise in bond yields has made stocks skittish and that could be a factor in the week ahead. Source link
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Philippines to use Sinovac vaccine on health workers
An inter-agency task force has approved a plan to inoculate FIlipino health workers against the coronavirus using vaccines from Chinese drugmaker Sinovac BIotech Ltd., according to health authorities. This was upon the recommendation of an advisory group from the Department of Health (DoH), Undersecretary Maria Rosario S. Vergeire told an online news briefing on Friday. Experts agreed the vaccine would…
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Data firm that monitors Reddit says it saw GameStop mentions spiking days ago
Thinknum co-founder Justin Zhen told CNBC that his data firm started to see GameStop mentions spike before shares took off Wednesday. Source link
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