MANILA - Online stockbroker COL Financial Group expects the Philippine Stock Exchange index (PSEi) to recover to 7,500 to 8,250 level this year after reconfiguring into a corrective consolidation. In a press briefing Tuesday, COL chief technical analyst Juanis Barredo said the PSEi has seen a viable bottom and now moving on its first major rally off such a base. "Given its stretchiness from its October-January rebound, we may need to prepare for some corrective but temporary maneuvering soon. There is still a chance though that the rally could extend perhaps until mid-February -which may be a good reason to stay fairly positioned, not to mention that the worst seems to be over," he said. Barredo said the PSEi was recently overbought when it reached price channel highs of 7,100 to 7,200. "This could drive some interim need to pull back to range lows or support. We see this first at 6,850-6,650 then 6,400-6,200. Accumulate into pullbacks as we look to eventually target ind
(File photo) MANILA - Deputy Minority Leader and Basilan Rep. Mujiv Hataman on Tuesday filed a resolution, seeking a review of the operations of the National Power Corporation Small Power Utility Group (NPC-SPUG) in view of power outages in covered areas. Hataman wanted a total review of the NPC-SPUG operations following its announcement of a reduction in electricity service in covered areas starting Feb. 1 due to fuel supply shortage and a delay in the subsidy payment of Universal Cost for Missionary Electrification (UCME). He said this is a lingering problem among island-provinces like Basilan, saying residents have long been trying to endure the unreliable power service of the National Power Corp. (Napocor). "Naniniwala ako na dapat na itong ireview para masolusyunan (I believe it should really be reviewed for solution)," Hataman said. "Hindi naman tama na tanggapin na lang namin ang aming kalagayan. Baka dapat tingnan na natin ang batas at pag-usapan ang mga solusyon
Photo courtesy ofofficial Facebook page of University of the East MANILA - The Department of Education (DepEd) has expressed its sympathies for the bereaved family of the 19-year-old senior high school learner who died inside the University of the East (UE)- Caloocan campus. In a Viber message on Monday night, DepEd spokesperson Michael Poa requested privacy for the family following the learner's death. "We extend our sincere condolences to the family of the learner, and join the request that their privacy be respected during this difficult time," he said. Poa said the DepEd is coordinating with the UE for its needed aid. "We have instructed the Schools Division Office concerned to coordinate with the University of the East for any assistance that the parties may need," he added. The UE earlier confirmed the death of the learner despite rushing him to the Manila Central University Hospital. "The entire UE community is in mourning in the wake of this tragic
Private Sector Advisory Council (PSAC) jobs group lead and Go Negosyo founder Joey Concepcion (File photo) MANILA -Go Negosyo founder Joey Concepcion, also Private Sector Advisory Council (PSAC) jobs group lead, said commodity prices are seen to ease by middle of this year and inflation rate will slow down towards the end of 2023. During the Laging Handa public briefing Monday, Concepcion said supply chain disruptions in the global market remains a factor that affect commodity prices not only in the country but also other markets. "I expect by middle of this year, we see lower prices, hopefully, lower-we're seeing oil prices go down, We're seeing wheat prices go down. Hopefully, sugar and the rest will all go down," he said. He added that the interest rate hikes of the Bangko Sentral ng Pilipinas (BSP) has helped in taming the further acceleration of inflation rate. Concepcion said slowing down the inflation rate will also support economic growth this year. Inflation
BEWARE OF FIXERS.Davao City 1st District Rep. Paolo Z. Duterte warns the public on Saturday (Jan. 21, 2023) against fixers using the name of the First Congressional District Office in their nefarious activities. Duterte said he received information that a woman claiming to be an employee of his office had been "recruiting" people who need medical assistance from the government thru the congressional office.(PNA file photo) DAVAO CITY - Davao City 1st District Rep. Paolo Z. Duterte issued his latest warning Saturday against fixers reportedly using the name of his office in their nefarious activities. Duterte, son of former president Rodrigo Duterte, issued a statement after receiving information that a woman claiming to be an employee of his office had been recruiting people who need medical assistance from the government through his congressional office. He said the fixer would tell her would-be victims that his office is granting PHP30,000 in medical assistance. Once the ass