PH gaming firm sinks as Duterte attacks bossMANILA: Shares at Philippine online gaming firm Philweb Corp. plunged Thursday, a day after President Rodrigo Duterte threatened to “destroy” its chief executive for being an alleged oligarch. Philweb shares closed 36.88 percent down at 8.95 pesos (19 US cents) after plunging to a year-low of 7.12 pesos earlier in the trading day. Philweb won a government license to launch internet cafes exclusively dedicated to hosting casino games in 2003. “My order to the (assembly): Destroy the oligarchs that are embedded in government now. Duterte, who has launched a controversial crackdown on crime that has left hundreds dead, called on the country’s legislature to amend the constitution, in part to curb individual influence from wealthy residents over the government.

Source: Manila Times August 04, 2016 09:45 UTC