Workers operating equipment for oil and gas production. PetroVietnam Gas shares inched higher on Monday, contributing to the gain of the VN-Index. Photo courtesy of PetroVietnam Gas HÀ NỘI — Việt Nam's stock market edged higher on Monday as investors flocked into oil and gas, construction and banking stocks. The market benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) finished the first trading day of the new month at 1,186.17 points, up 1.51 per cent. The gain ended last week's downward trend. The index decreased by 0.43 per cent last week. Trần Xuân Bách, a senior analyst from Bảo Việt Securities Co., wrote in a daily report to customers that the market's trend is expected to continue sideways with alternating up and down sessions. And the index might test the resistance territory of 1,175 - 1,185 points during first sessions of this week. At the end of the session, 358 stocks climbed, of which 35 stocks hit the maximum daily gain, while only 85 stocks declined. And 60 stocks stayed steady. High liquidity in the market was the main force for the gain Monday. Nearly 643.4 million shares were traded on the southern bourse, worth over VNĐ16 trillion. In the morning session alone, over VNĐ10.2 trillion was poured into the market. However, the strong cash inflows once again created an overload on HoSE in Monday's afternoon session. Big stocks across all sectors posted good performance on Monday with the VN30-Index rising by 1.55 per cent to 1,191.83 points. Of the VN30 basket, 27 stocks climbed, while only three stocks declined. Top five stocks influencing the market's trend were in gas and oil, construction and banking sectors including PetroVietnam Gas JSC (GAS), up 2.91 per cent, Vinhomes JSC (VHM), up 1.38 per cent, Vietcombank (VCB), up 1.02 per cent, Techcombank (TCB), up 2.42 per cent and Việt Nam International Commercial Joint Stock Bank (VIB), up 6.93 per cent. On the Hà Nội Stock Exchange (HNX), the HNX-Index rose 1.26 per cent to …
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Oxfam: Health spending in poor countries must double to prevent millions of deaths
Oxfam distributing hygiene kits to people in Yemen amid the coronavirus crisis. Photo: Wael Algadi Oxfam today called for a package of nearly $160 billion in immediate debt cancellation and aid to fund a Global Public Health Plan and Emergency Response and help prevent millions of deaths as a result of the coronavirus.The five-point plan of this Global Public Health Plan and Emergency Response would enable poor countries to take action to prevent the spread of the disease and build up the capacity of health systems to care for those affected. The pandemic has caused widespread suffering in rich countries, overwhelming some of the best healthcare systems in the world. However, with the disease now spreading to many poor countries where high levels of poverty and inequality threaten to accelerate the disease, the public health challenges are even greater. Nearly three billion people across the developing world do not have access to clean water, while millions more do not have access to adequate healthcare and live in crowded slums or refugee camps where social isolation is impossible. As women make up 70 per cent of health workers and carry out most unpaid care work, it will hit them the hardest. Jose Maria Vera, Oxfam International Interim executive director, said that in Mali there are three ventilators per million people. In Zambia, there is one doctor for 10,000 people. “We know from Oxfam’s experience of fighting Ebola that with rapid action, this disease can be stalled and its catastrophic impact stopped. But we must act now and, on a scale never seen before,” he said. “Without urgent, ambitious, and historic action, we could easily see the biggest humanitarian crisis since World War II.” The Imperial College London estimates that in the absence of intervention, the coronavirus could have led to 40 million deaths in the coming year. Oxfam calculates that doubling the health spending of the 85 poorest countries, home to nearly half of the world’s …
How a 10-second video clip sold for $6.6 million
LONDON -- In October 2020, Miami-based art collector Pablo Rodriguez-Fraile spent almost $67,000 on a 10-second video artwork that he could have watched for free online. Last week, he sold it for $6.6 million. The video by digital artist Beeple, whose real name is Mike Winkelmann, was authenticated by blockchain, which serves as a digital signature to certify who owns it and that it is the original work. It’s a new type of digital asset - known as a non-fungible token (NFT) - that has exploded in popularity during the pandemic as enthusiasts and investors scramble to spend enormous sums of money on items that only exist online. Blockchain technology allows the items to be publicly authenticated as one-of-a-kind, unlike traditional online objects which can be endlessly reproduced. “You can go in the Louvre and take a picture of the Mona Lisa and you can have it there, but it doesn’t have any value because it doesn’t have the provenance or the history of the work,” said Rodriguez-Fraile, who said he first bought Beeple’s piece because of his knowledge of the U.S.-based artist’s work. “The reality here is that this is very, very valuable because of who is behind it.” Examples of NFTs range from digital artworks and sports cards to pieces of land in virtual environments or exclusive use of a cryptocurrency wallet name, akin to the scramble for domain names in the early days of the internet.“Non-fungible” refers to items that cannot be exchanged on a like-for-like basis, as each one is unique - in contrast to “fungible” assets like dollars, stocks or bars of gold. The computer-generated video sold by Rodriguez-Fraile shows what appears to be a giant Donald Trump collapsed on the ground, his body covered in slogans, in an otherwise idyllic setting. OpenSea, a marketplace for NFTs, said it has seen monthly sales volume grow to $86.3 million so far in February, as of Friday, from $8 million in January, citing blockchain data. Monthly sales were at $1.5 …
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