By Riza Lozada The government is setting up a community-based economic zone in Marawi City to help speed up the recovery of the city which was devastated by five months of fierce battle between Islamic State (IS)-inspired militants and government forces.

In another vote of confidence on President Duterte’s economic program, the Asian Development Bank (ADB) scaled up its growth forecast on the Philippines to 6.7 percent this year and 6.8 next year from earlier estimates of 6.5 percent and 6.7 percent expansion previously, the ADB’s Asian Development Outlook Supplement (ADOS) showed.

Local Rizal Commercial Banking Corp. (RCBC) and top Bangladesh officials traded accusations over the almost two-year joust on the $81 million stolen from the Bangladesh Central Bank in a cyber heist of a Chinese group that operates from the Philippines.