China’s Chief Climate Negotiator Su Wei reaffirmed his nation’s commitment to lower emissions relative to economic output while dismissing reports that it will adopt an absolute cap on greenhouse gases.
Philippine growth unexpectedly accelerated to the fastest pace in almost three years, defying a regional slowdown as President Benigno Aquino boosted investment and state spending. The peso reversed its decline.
The Philippine peso was headed for its biggest weekly loss in nine months on speculation an improving U.S. economy will prompt the Federal Reserve to rein in monetary stimulus. Bonds and stocks declined.
Malayan Banking Bhd., Malaysia’s biggest lender, said profit increased 12 percent to a record in the first quarter as domestic spending and investment spurred demand for credit in the Southeast Asian nation. Net income climbed to 1.51 billion ringgit ($495 million), or 17.87 sen per share, in the three months ended March 31 from 1.35 billion ringgit, or 17.63 sen, a year earlier, according to a stock exchange filing today.
China’s Communist Party fired a vice chairman of the economic planning agency who is suspected of “severe disciplinary violations,” after a Chinese journalist posted allegations that he had improper business dealings.