Philippine stocks rose to a record after it beat Indonesia to win an investment grade from Standard & Poor’s, as President Benigno Aquino outshines Susilo Bambang Yudhoyono in improving government finances and spurring growth.
The Philippine central bank is considering adjustments to its so-called special deposit accounts, signaling it may limit access to the facility to cut costs and enhance its scope to cool currency gains.
Farmer Rene Ravalo loads coconuts onto a truck in the Philippines for the 30-minute trip to market on a road built last year. It previously took half a day for a water buffalo to inch the goods down a mountain track.
The chairman of the Philippines’ election body, Sixto Brillantes, said he’s thinking of quitting after the Supreme Court ruled against the agency for a fourth time under his watch and a month before polls.
The Philippines achieved investment grade for the first time as Fitch Ratings raised its assessment, rewarding President Benigno Aquino for leading a growth resurgence after lagging its regional peers for decades.
When Philippine President Benigno Aquino signed a peace deal with Muslim rebels in October, the 74-year-old sultan of Sulu sat in a wheelchair at the ceremony waiting for someone to speak with him. Nobody did.