China’s anti-corruption agency is investigating the chairman of China Resources Holdings Co. after domestic media repeated accusations a unit of the state-owned company deliberately overpaid for coal assets.
The Philippine peso’s failure to strengthen in the face of data showing a widening current- account surplus and an upgraded credit rating has stoked concern that imports are being underreported due to smuggling.
China set a 7.5 percent target for economic growth in 2014, a pace that may make it more difficult to achieve the leadership’s goals of curbing credit risks and stemming the pollution choking the nation’s biggest cities.
U.S. Secretary of State John Kerry pledged $25 million in additional aid to the Philippines as the mounting cost of reconstruction in typhoon-damaged areas threatens the Southeast Asian nation’s budget-deficit goal.
The top-performing Philippine stock fund in the past five years has doubled holdings of consumer companies as record remittances boost the spending power of shoppers in Southeast Asia’s fastest-growing economy.