Philippines signs new deal with water utility after Duterte criticism

MANILA, May 22 (Reuters): Philippine utility Maynilad Water Services Inc has signed a revised water deal with the government to allow it to continue operating, more than a year after President Rodrigo Duterte threatened to take over its business.

Maynilad has agreed not to raise water rates before the end of 2022 and forgo some revenue, among a series of new conditions approved by the regulator, according to disclosures issued by its shareholders.