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Fear or embrace AI?

Artificial intelligence (AI) is a hot topic today. Are you using AI? Do you find directions easier with Waze, listen to favorite music with Spotify, ask questions or do your research via Google or YouTube, or compose an essay, a poem, or a script with ChatGPT? 

“AI TO ROI: Powering up your Business with GPT Solutions” was the topic of the NextGen Organization of Women Corporate Directors (NOWCD) meeting on July 5. It was sponsored by the events committee: FEU SVP Gianna Montinola, MAP trustee Karen de Venecia and BPI executive Teresa Javier with liaison director Sherisa “Baby” Nuesa. The guest speaker was Stephanie “Stef” Sy, CEO of Thinking Machines (TM), a leading-edge data technology consultancy with the goal: to unlock business value using customized enterprise-grade AI solutions.

Stef said ChatGPT is the consumer-facing killer app of conversational AI developed by Open AI, a SF based R&D company founded in 2015. ChatGPT was released in November 2022 with 100 million global users as of July 2023. GPT or Generative Pretrained Transformer, is a type of Large Language Model (LLM) trained on human speech from a wide variety of sources such as the internet.

Stef says unlike software engineering, the output of LLMs feels more natural as it is not fixed, but less controllable. In ChatGPT, “temperature” setting changes the variety of response. LLMs are a fairly recent type of deep learning model that come on massive datasets. She said applications using Generative AI are rapidly maturing across multiple domains with exciting potential.  Text and codes are closer to maturity than images and video. In texts, final paper drafts may be better than human average or even professional writers. For images, final drafts may soon be better than professional artists designers and photographers.

The use of Gen AI tools is now easier. In the traditional setup, only the data analytics departments use AI. Today, in a redefined technology setup, sales, operations, product development, HR — all units use AI to simplify work. Is your company now using AI to facilitate work and analysis? Stef showed us the extent various industries are using AI: fraud detection with high accuracy rate for financial institutions, identification of novel drug candidate for treatment within days vs years with traditional methods, and in education, automotive industry, media, etc.

Stef and her team presented three amazing live demonstrations of ChatGPT’s capabilities:   

• The GPT-powered investment assistant was able to get instant access to shareholder information and analyst research at high speed.

• The B2B sales assistant answered questions to recommend products fitting for any customer.

• The HR internal mobility assistant helped explore internal openings and guide in new career opportunities. And depending on the applicant say a Millennial, ChatGPT can change its language type to match. Amazing!

I watched some interviews of Open AI CEO Sam Altman and Yuval Noah Harari, historian and renowned author, to learn more about AI. Mr. Altman sees AI growing exponentially with the positive impact of curing all diseases, addressing climate change, radically improving education, and making us 10-100 times more efficient. But he also emphasizes the need for AI regulation. He advocates a global body to regulate, aware of its advancements and limitations, to mitigate its potential adverse impact to society and employment   

Mr. Harari said AI is the first technology that can create new ideas. Previous inventions always needed humans. Even the atomic bomb need humans when to use. Now, even its own developers don’t know the full abilities of what they have created as AI is able to learn by itself. AI learns from all the data and in its interaction, will know so much about our likes, preferences, feelings, etc. This has probable effect of influencing, even manipulating our choices and decisions, unconsciously. This information is powerful.

Will AI take over jobs? Mr. Altman acknowledged jobs will go away but replaced by new and better jobs, although it is difficult to imagine as we don’t know what the future will look like. How to prepare the next generation? Mr. Harari said: “build strong emotional intelligence and mental stability, be adaptable and flexible.” The ability to reinvent is important.  As an analogy, he said, while stone houses were built with strong foundations before, tents, easy to fold and move quickly may be best.

Let’s embrace and enjoy the incredible benefits of AI while being mindful of its potential negative effect to society if uncontrolled or if it falls into the wrong hands.

Uncertain future? Let’s trust that God is in control!

 

Flor G. Tarriela was former chairman of Philippine National Bank, former undersecretary of Finance, and the first Filipina vice-president of Citibank N.A. She is PNB board advisor, Nickel Asia’s lead independent director, and a director of LT Group Inc., FINEX.  A gardener and an environmentalist, she founded Flor’s Garden in Antipolo.

Philippines improves in 2023 Transparency Index

The Philippines’ ranking jumped to 55th out of 143 countries in 2023 from placing 69th out of 129 in 2021 by the European Research Center for Anticorruption and State-Building’s (ERCAS) latest edition of the Transparency Index (T-Index). The T-Index measures computer-mediated transparency, representing the availability of public data in each country by showing what information governments have committed to sharing (de jure) and how much they actually share (de facto). The country scored 14 (out of 20) in 2023, improving from 11.5 (out of 19) in 2021. This was almost two times higher than the world average of 7.5 and the regional average of 7.9.

How PSEi member stocks performed — August 3, 2023

Here’s a quick glance at how PSEi stocks fared on Thursday, August 3, 2023.


Peso weakens further on strong US labor data

MARI GIMENEZ-UNSPLASH

THE PESO depreciated further on Thursday as stronger-than-expected US labor data pushed the dollar to a four-week high.

The local currency closed at a fresh three-week low of P55.52 versus the dollar on Thursday, weakening by 33 centavos from Wednesday’s P55.19 finish, data from the Bankers Association of the Philippines’ website showed.

This was the peso’s weakest close since its P55.69-a-dollar close on July 11.

The local unit opened Thursday’s session at P55.30 per dollar. Its intraday best was at P55.27, while its weakest showing of the day was at P55.565 against the greenback.

Dollars traded rose to $1.28 billion on Thursday from the $1.1 billion seen on Wednesday.

The peso dropped as the dollar rose following the release of strong US labor data, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

The dollar scaled a four-week peak against major peers on Thursday after upbeat labor market data a day earlier, while sterling edged lower ahead of an expected rate hike from the Bank of England, Reuters reported.

The dollar index, which measures the currency against six major peers, rose as high as 102.84, the highest level in four weeks. It was last up 0.1% at 102.73, extending Wednesday’s 0.5% gain.

US private payrolls rose more than expected in July as small businesses boosted hiring, pointing to continued labor market resilience that could shield the economy from a recession.

Private payrolls increased by 324,000 jobs last month after surging by 455,000 in June, according to ADP. Economists polled by Reuters had forecast private employment would increase by 189,000.

“The peso depreciated further amid lingering concerns on the global economy after Fitch’s downgrade to the US sovereign credit rating,” a trader added in an e-mail.

Fitch Ratings’ downgrade of the US credit rating is likely to exacerbate unease about the country’s debt position, political polarization and the global standing of the US dollar, investors and analysts said.

The credit rater on Tuesday downgraded the US government’s top credit rating to “AA+” from “AAA,” citing fiscal deterioration over the next three years and repeated down-the-wire debt ceiling negotiations that threaten the government’s ability to pay its bills.

For Friday, the trader said the peso could recover on potentially slower July Philippine inflation.

The trader sees the peso moving between P55.30 and P55.55 per dollar on Friday, while Mr. Ricafort sees it trading from P55.40 to P55.60. — AMCS with Reuters

Shares rise on bargain-hunting ahead of CPI data

BW FILE PHOTO

STOCKS rebounded on Thursday on bargain-hunting following their decline the day prior and amid expectations of slower July inflation.

The Philippine Stock Exchange index (PSEi) increased by 93.48 points or 1.44% to close at 6,576.76 on Thursday while the broader all shares index went up by 35.63 points or 1.02% to 3,499.49.

“The local market bounced back this Thursday by 93.48 points to 6,576.76 as investors saw bargain-hunting opportunities after Wednesday’s decline. The anticipation of cooler inflation at home, which is set to be released this Friday, also boosted sentiment,” Philstocks Financial, Inc. Research and Engagement Officer Mikhail Philippe Q. Plopenio said in a Viber message.

“The market brushed aside worries about the US credit downgrade and rallied on the back of strong corporate earnings from key names and expectations that the Philippine July CPI (consumer price index) print will show sustained inflation deceleration. Investors took advantage of the recent selloff to pick up index names that have reported or are poised to report healthy first half results,” China Bank Capital Corp. Managing Director Juan Paolo E. Colet said in a Viber message.

The Philippine Statistics Authority will release July CPI data on Friday, Aug. 4.

In a BusinessWorld poll conducted last week, 17 analysts yielded a median estimate of 4.9%. If realized, this would be slower than the 5.4% seen in June and would match the 4.9% in April 2022.

The July print would also exceed the Bangko Sentral ng Pilipinas’ 2-4% target for the year for the 16th straight month.

Mr. Plopenio added that among index members, Ayala-led ACEN Corp. saw a 5.79% increase to P5.30 apiece on Thursday as the company reported higher earnings.

The company’s attributable net income for the second quarter rose by 24.2% to P2.21 billion from 1.78 billion, on the back of its expansion into renewable energy.

In the first half, its bottom line surged by 94% to P5.07 billion from P2.95 billion the same period last year.

Sectoral indices rose on Thursday except for mining and oil, which fell by 62.01 points or 0.6% to 10,210.37.

Meanwhile, property jumped 63.57 points or 2.38% to 2,734.52; industrials increased by 151.15 points or 1.66% to 9,221.45; financials went up by 23.24 points or 1.21% to 1,934.11; holding firms climbed by 60.91 points or 0.97% to 6,312.30; and services by 10.12 points or 0.65% to end at 1,563.96.

Value turnover dropped to P3.95 billion on Thursday with 1.2 million shares changing hands from the P4.23 billion with 787.44 million issues seen on Wednesday.

Advancers outnumbered decliners, 99 versus 81, while 50 names closed unchanged.

Net foreign selling went up to P752.52 million on Thursday from P553.02 million on Wednesday. — A.H. Halili

China trying to boost public image with offer of joint drills — analysts

PHILIPPINE COAST GUARD PHOTO

By Kyle Aristophere T. Atienza and Beatriz Marie D. Cruz, Reporters

CHINA’S PROPOSAL to hold joint military exercises with the Philippines appears to be an attempt to boost its public image after its increasing assertiveness in the South China Sea drew international backlash, geopolitical analysts said on Thursday.

Its failure to heed international law casts doubt on its intentions, Don Mclain Gill, who teaches foreign relations at De La Salle University in Manila, said in a Facebook Messenger chat.

“Conducting such exercises with China will neither result in an improvement of trust nor the deepening of strategic ties due to Beijing’s uncompromisable regional ambitions,” he added.

The Chinese Embassy in Manila did not immediately reply to a Viber message seeking comment.

The United States and the European Union have asked China to follow a rule-based international order and honor a 2016 arbitral ruling for the Philippines that voided its claim to more than 80% of the disputed waterway.

China’s proposal is merely “centered on improving public opinion” amid its continuing assertiveness within the Philippines’ exclusive economic zone in the South China Sea, Mr. Gill said. “It’s similar to the good visit conducted a few months back.”

In late April, Chinese Foreign Minister Qin Gang met with President Ferdinand R. Marcos, Jr. in Manila, where they agreed to establish more “lines of communications.”

But a near-collision incident between a Chinese Coast Guard ship and a Philippine patrol vessel carrying journalists happened a day after the meeting.

“The defense establishment continues to be wary of the increasing challenges China creates for Philippine sovereignty and sovereign rights,” Mr. Gill said. “In fact, even during the time of ex-President Rodrigo R. Duterte, who was largely accommodating of Beijing, such an idea was also floated but never materialized.”

Party-list Rep. Arlene A. Brosas said pursuing military exercises with China could compromise the Philippine sovereignty and “perpetuate the unequal power dynamics in the region.”

“Given the ongoing territorial disputes and the history of tensions in the region, we cannot allow these proposed military exercises to prosper,” she said in a statement.

The continued presence of Chinese vessels within the Philippines’ exclusive economic zone in the South China Sea has complicated their relations, “creating a hostile environment,” she added.

Chinese Ambassador to the Philippines Huang Xilian made the informal proposal to the Armed Forces of the Philippines Chief of Staff General Romeo Brawner, Jr. at the 96th People’s Liberation Army anniversary celebration near the Philippine capital on July 26.

A day after the event, the military chief said he was not ruling out military exercises with China. “Our prospect according to our President is that we are friends to all, enemies to none,” he told DZBB radio.

‘MILITARY DIPLOMACY’
Mr. Brawner Jr. said the government was also not closing its doors to the possibility of having joint drills with Vietnam, which also claims parts of the South China Sea.

Lucio B. Pitlo III, a research fellow at the Asia-Pacific Pathways to Progress Foundation, cited China’s growing military diplomacy in the Asia-Pacific region. He cited China’s bilateral exercises with Cambodia and with Singapore in April and with Laos in May.

China is also preparing for an unprecedented six-nation multilateral exercise with Malaysia, Thailand, Vietnam, Laos and Cambodia in October, he added.

“This shows that despite disputes over the Mekong River or the South China Sea, Southeast Asian countries remain open to engage China in the security sphere,” he said via Messenger chat.

Mr. Pitlo said China’s joint drills with South China Sea littorals might “focus more on humanitarian assistance and disaster relief and search and rescue operations.”

Chester B. Cabalza, founder of the Manila-based International Development and Security Cooperation, said China should be allowed to have defense partnerships with the Philippines “as long as Filipino leaders and the military will remain vigilant and will not compromise our sovereignty rights.”

“The military drills with foreign powers should extend to nontraditional partners and not just defense treaty allies,” he said in a Messenger chat, citing the President’s push for the Philippines to become a “friend to all and an enemy to none.”

As a middle power in the region, the Philippines should be able to “bridge differences” if it is aligned with its interests, Mr. Cabalza said.  “If it happens, perhaps the Philippines will play its role as a broker of regional peace and order courtesy of our geographic importance.”

He said China and the Philippines as well as other South China Sea claimants should learn to co-exist in the waterway “to further de-escalate tensions in the Indo-Pacific region.”

The Philippines should “strike a balance” in relations with the US and China, Rommel C. Banlaoi, chairman of the Philippine Institute for Peace, Violence and Terrorism Research, told a separate briefing, noting that the country’s military relationship “is weakest with China, but strongest with the US.”

Robin Michael R. Garcia, who teaches political economy at the University of Asia and the Pacific, said the US and China should reassure each other about the absence of threats.

“As China tries to strengthen its economy and security, the US and other countries find it threatening, and as the US also strengthens its position [in the South China Sea], China finds that threatening,” he said.

Duterte told Xi to ‘look kindly’on Philippines — Senate chief

PRESIDENTIAL COMMUNICATIONS OFFICE

FORMER Philippine President Rodrigo R. Duterte asked Chinese President Xi Jinping to look kindly on the Philippines during their meeting in Beijing last month, according to the Senate president.

The sea dispute between the two nations was never brought up during the meeting, Senate President Juan Miguel “Migz” F. Zubiri told CNN Philippines on Thursday, citing President Ferdinand R. Marcos, Jr.

Mr. Marcos Jr. met with Senate leaders on Wednesday night after meeting with Mr. Duterte at the presidential palace, the senator said.

“What he mentioned to us was during the duration of President Duterte’s meeting with Xi Jinping, the topic of the West Philippine Sea was never brought up,” Mr. Zubiri said, referring to areas of the waterway within the country’s exclusive economic zone.

Senator Christopher Lawrence “Bong” T. Go, a close friend of Mr. Duterte, told reporters the tough-talking leader visited China for the inauguration of a college building named after his late mother, and was consequently invited by Mr. Xi to a meeting since they are friends.

“President Duterte went to President Marcos to report on what they talked about there,” the senator, who accompanied Mr. Duterte during the meeting with Mr. Marcos, said in Filipino.

There are now proposals from his Senate allies including Mr. Go to make him a special envoy to China, citing his “good standing” with Beijing.

Mr. Duterte’s meeting with Mr. Marcos “could be seen as a game-changer in recalibrating Philippine foreign policy amid the massive support it is getting from global powers and its engagements on rules-based norms,” said Chester B. Cabalza, founder of the Manila-based International Development and Security Cooperation.

“This is the first time former President Duterte returned to Malacañang since the election of President Marcos whom he once called a spoiled brat during the campaign season,” he said in a Facebook Messenger chat.

After news about the Duterte-Xi meeting in China, Mr. Marcos said he was hoping that the two had also talked about a June encounter in which a civilian patrol vessel of the Bureau of Fisheries and Aquatic Resources was tailed and radioed by the Chinese Coast Guard. 

“All of these things that we are seeing now, I hope they discussed it so we can have progress.”

Last month, the International Criminal Court (ICC) rejected a Philippine government plea to stop the investigation of Mr. Duterte’s deadly drug war.

Mr. Cabalza said the ICC probe and the government’s anti-drug campaign, which Mr. Marcos vowed to implement with a focus on health rehabilitation, might have also been discussed during the Wednesday meeting.

Solicitor General Menardo I. Guevarra, Mr. Duterte’s Justice chief, was also at the palace meeting. He has said the Philippines is not legally bound to cooperate with the ICC investigation.

The ICC probe covers crimes committed in Davao City from November 2011 to June 2016 when Mr. Duterte was its mayor as well as cases during his presidency up until March 16, 2019, the day before the Philippines withdrew from it.

Also at the Marcos-Duterte meeting were Defense Secretary Gilbert C. Teodoro, Jr., Executive Secretary Lucas P. Bersamin, former Executive Secretary Salvador Medialdea and Special Assistant to the President Antonio Lagdameo, Jr.

“Mr. Duterte remains a strong political figure in the country given the political dynasty that he founded with his daughter, Vice-President Sara Duterte-Carpio, who is a potential contender for the presidency in 2028,” Mr. Cabalza said. — Norman P. Aquino and Kyle Aristophere T. Atienza

Minority congressmen hit budget increase for intel funds

MINORITY congressmen on Thursday criticized billions of pesos worth of confidential and intelligence funds in the proposed 2024 national budget, noting that these funds had been allotted to agencies that are not supposed to do intelligence work.

“Civilian offices and agencies with no business in intelligence-gathering or law enforcement are given so much presidential pork in the form of confidential and intelligence funds,” Deputy Minority Leader and Party-list Rep. France L. Castro said in a statement.

The budget for confidential and intelligence funds in the P5.77-trillion budget for next year increased by P120 million to P10.14 billion — P5.28 billion in intelligence and P4,86 billion in confidential funds.

Under the 2024 National Expenditure Plan, the Office of the President was given P4.5 billion, while the Office of the Vice President got P500 million in intelligence funds.

The Education department under Vice-President Sara Duterte-Carpio was also given P150 million in confidential and intelligence funds (CIF), while the Defense department got P1.7 billion.

In the 2023 national budget, the President received P4.5 billion in confidential and intelligence funds.

In a 2015 circular, the Commission on Audit (CoA) and several government agencies specified the guidelines on the use of confidential and intelligence funds. Congress does not audit these budgets.

Assistant Minority Leader and Party-list Rep. Arlene D. Brosas called out the President for failing to mention the intelligence funds in his budget message.

“It is best to rechannel these to relief and social services,” she said.

The Development Budget Coordination Committee will brief the House of Representatives committee on appropriations on Aug. 10.

Marikina Rep. Stella Luz A. Quimbo, vice-chairman of the committee, said the House targets to begin plenary debates on the budget on Sept. 18, and approve it on final reading by the end of that month.

If approved, a huge chunk of the proposed P10.14-billion CIF for next fiscal year would go to the offices of President Ferdinand R. Marcos, Jr. and Vice President Sara Duterte-Carpio.

Budget Secretary Amenah F. Pangandaman attributed the increase to additional confidential funds requested by the Department of Information and Communications Technology (DICT), Anti-Money Laundering Council and Presidential Security Group (PSG).

She said the DICT needs the funds for its cyber-security programs, citing the government’s digitalization push.

“Cybersecurity investment is parallel to our digitalization efforts,” she told a news briefing. “Why does it need to be confidential? It’s because of the procurement process. You cannot disclose the technical specifications of your cyber-security projects in the terms of reference because hackers might see it.”

“If they have access to the specs, our cybersecurity projects and programs won’t be effective,” she added.

The PSG’s additional intelligence funds would cover intelligence activities during Mr. Marcos’ foreign trips, Ms. Pangandaman said.

The Department of Agriculture, which is also headed by Mr. Marcos, is asking for P50 million in confidential from zero this year.

In a separate statement, the Budget department said there was also an increase in the confidential and intelligence funds of the Armed Forces of the Philippines, National Security Council, Office of the Presidential Adviser on Peace, Reconciliation and Unity, and the Office of the Ombudsman.

On the other hand, the intel funds of the Philippine Competition Commission, National Intelligence Coordinating Agency and the Department of Justice decreased.

Meanwhile, Budget Undersecretary Joselito Basilio said borrowings that would be used for the 2024 national budget “would be 11% of the pie,” which is in line with the “medium term fiscal framework.”

The borrowing program for next year will hit P2.46 trillion — consisting of P606.85 billion in gross external borrowings and P1.853 trillion in gross domestic borrowings — higher than the P2.207-trillion borrowing program this year, according to DBM data.

The Philippine government expects its borrowings to decline as the country recovers from the impact of the COVID-19 pandemic, Mr. Basilio told reporters after the briefing.

The borrowing will peak until 2025 or 2026, and will go down by 2027 and 2028, Mr. Basilio said.

The Philippine government’s outstanding debt hit P14.15 trillion at the end of June.

The Budget department, meanwhile, said the P2.93-billion budget cut for the University of the Philippines (UP) under the proposed 2024 expenditure plan would not affect student admissions.

The reduction was a result of the removal of budgetary requirements for several infrastructure projects that are set to be completed this year, Ms. Pangandaman told the briefing.

She said the agency had taken into consideration the budget utilization rate of the state university. “In our review and evaluation of UP’s budget proposals, we considered its absorptive capacity, which was 69.48% as of end-2022.” — B.M.D. Cruz and Kyle Aristophere T. Atienza

ILO, EU help Pinoy seamen 

THE INTERNATIONAL Labour Organization (ILO) has partnered with the European Union (EU) and charity organization Stella Maris Philippines to educate migrant Filipino fishermen and seafarers on their basic rights including on ways to avoid human trafficking. 

In a statement late Wednesday, ILO said it had developed a pre-departure information program with its partners for fishermen and seamen that they taught through workshops last month. 

The project was developed through stakeholder discussions with the EU-funded Ship to Shore Rights Southeast Asia program, which aims to come up with measures to help migrant fishermen in the Asia-Pacific region, and Stella Maris, which provides accommodation to Filipino seamen. 

“While the number of migrant fishers may only be small compared with half-a-million Filipino seafarers deployed, they are particularly prone to abuses,” said Khalid Hassan, country director of ILO Philippines. 

About 4,335 Filipinos leave the country each year to commercially fish on foreign vessels, ILO said, citing government data. 

The Department of Migrant Workers (DMW) has said it is investigating claims of forced labor and human trafficking of migrant fishers. 

Sea-based Filipino workers sent home $506 million in May, 2.4% higher than a year earlier, according to the Bangko Sentral ng Pilipinas. — John Victor D. Ordoñez

Court to rule on hazing case 

BAGUIO CITY — A municipal trial court here is set to rule on homicide charges against the suspects in the killing of hazing victim Darwin D. Dormitorio, who died in the hands of cadets of the Philippine Military Academy (PMA) in September 2019. 

“We are hoping and praying that the decision will be favorable to the cause of the Dormitorios,” lawyer Jose Adrian Bonifacio said on Thursday. 

Judge Roberto Mabalot is set to hand down his decision on the case against Captain Flor Apple Apostol, Major Ofelia Beloy and Colonel Caesar Candelaria of the PMA hospital, as well as former cadets Julius Carlo Tadena and Christian Zacarias.  

The three PMA officials were charged with reckless imprudence resulting in homicide in 2020, while Mr. Tadena was charged with serious physical injuries. Mr. Zacarias is facing charges of sight physical injuries. — Artemio A. Dumlao 

Tampakan gold to generate taxes 

KORONADAL CITY — The Tampakan copper-gold project in South Cotabato that is expected to go full swing next year is expected to generate at least P76.6 billion in national taxes, while giving employment to residents, Cotabato Governor Emmylou Taliño-Mendoza told reporters on Thursday. 

The project is also expected to generate at least P4.8 billion in local taxes and at least P2.7 billion more for community development initiatives, she said. 

Ms. Mendoza, chairwoman of the Regional Development Council of the National Economic and Development Authority for the Soccsksargen region, last month signed a resolution recognizing the potential contributions of the Tampakan project to the region’s economy. 

“For us, the Blaan people, the council resolution is a blessing,” Domingo N. Collado, Indigenous People’s Mandatory Representative to the municipal council of Tampakan, told reporters. “These mineral-rich areas are all in our ancestral lands in Tampakan and in tribal territories in three other towns around.” 

Edmund Sodog Ugal, a T’boli tribal leader, said they were optimistic that the council would also recognize the importance to the economy of prospective mineral and coal mining projects in tribal domains in other upland towns in South Cotabato. 

Tampakan operator Sagittarius Mines, Inc. earlier said it had started preconstruction activities such as land acquisition and building access roads. 

The company has secured its 2023 business permit from the Tampakan municipality after paying P24,579 in regulatory and other fees. The Court of Tax Appeals had halted the collection of almost P400 million in taxes from the company by the local government. — John Felix M. Unson

Escudero bucks Senate resolution 

SENATOR Francis Joseph “Chiz” G. Escudero on Thursday said he disagrees with a Senate resolution urging the government of President Ferdinand R. Marcos, Jr. to take China’s harassment of Filipino fisherman and coast guard vessels in the South China Sea to the United Nations General Assembly.  

In a statement, he said the effect of the Philippine victory in the Hague might weaken if the country fails to get enough votes. 

He also said the Philippines should assert its claims in the South China Sea even as the government seeks a peaceful resolution to the dispute with China. 

The Philippines should continue filing diplomatic protests every time China harasses the coast guard or Filipino fishermen, he added. — John Jiminel Cacdac 

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