Manila - Philippine shar

Manila  - The construction of a 150-hectare Philippine gaming city was scheduled to start early next year, a senior official of a state-owned gaming firm said Wednesday.

Rafael Francisco, president of the government-owned Philippine Amusement and Gaming Corp, said the project has hurdled regulatory and moral issues and has been endorsed by the local government of Pasay City in metropolitan Manila, the last in the long list of pre-construction requirements.

"We expect to begin construction by first quarter of next year," he said. "It will take about five years to complete."

Manila - The Philippines ratified on Tuesday the charter of the Association of South-East Asian Nations (ASEAN) which will give the 10-country grouping a legal framework, as well as set out the principles and rules for its members.

Sixteen senators voted for the ratification of the charter, while one objected.

Pro-administration Senator Miriam Defensor Santiago was the ardent proponent in the ratification of the charter in the opposition-led senate.

Santiago said that the ASEAN charter will hasten the economic integration of the organization as well as balance the growing influence of China and India in the region.

The charter also commits its member-countries to promote human rights and democracy.

Manila - Philippine shares dropped 3.01 per cent on Tuesday as panic engulfed stock markets around the world over the deepening global financial crisis.

The Philippine Stock Exchange's 30-share composite index shed 75.34 points to close at 2,424.19 from Monday's finish of 2,499.53 points.

A total of 1.38 billion shares valued at 2.30 billion pesos (48.26 million dollars) were traded.

Losers swamped gainers, 108 to 10, with 28 issues unchanged.

Manila - Philippine shares dr

Manila - Two communist rebels were killed in a clash with government troops in an eastern Philippine province, a military spokesman said Sunday.

Lieutenant Colonel Ernesto Torres said the fighting erupted before dawn on Saturday in a remote village in Casiguran town in Aurora province, 155 kilometres north-east of Manila.

Torres said government troops recovered two assault rifles left behind by the fleeing rebels.

He said the army suffered no casualties.

The military hopes to destroy the communist insurgency before the end of the term of President Gloria Macapagal Arroyo in 2010.