It was as close to a Stanley-meets- Livingstone moment as a 21st-century traveler is likely to get. After a weeklong odyssey involving planes, ferries, buses and motorcycles, I peered through sheeting monsoonal rain at a mist- shrouded island.
The Philippines and Muslim rebels expect to sign a final accord next month, bringing President Benigno Aquino closer to his pledge of ending four decades of insurgency on resource-rich Mindanao island.
Philippine five-year bonds fell this week after inflation accelerated to a nine-month high and the central bank said consumer prices will keep rising in the aftermath of the recent devastating typhoon.
Just after midnight one sultry Friday in August 1987, Manila became a battleground as rebel troops attempted a coup against Philippine President Corazon Aquino. Two blocks from the besieged presidential palace, insurgents opened fire on a car carrying Aquino’s only son, a bespectacled and soft-spoken 27-year-old junior insurance executive nicknamed Noynoy.
Emerging-market stocks fell to the lowest level in two weeks as Hyundai Motor Co. and Kia Motors Corp. tumbled amid concern earnings will falter. Brazil’s real slumped to a three-month low amid disappointing economic data.
The Philippines rejected all bids at a sovereign bond sale today for the first time since June 2012, underlining the strength of the government's finances even as the country recovers from Super Typhoon Haiyan.
Government bonds fell around the world after manufacturing grew more than forecast in the U.S., euro area and China. Gold sank and U.S. stocks retreated while the dollar strengthened against most major peers.
Emerging-market stocks dropped for the first time in four days as Petroleo Brasileiro SA led energy producers lower. Ukraine’s bond yields jumped to a record after police cracked down on the biggest protests since 2004.
Melco Crown Entertainment Ltd., the Macau casino venture of entrepreneur Lawrence Ho and billionaire James Packer, rose for a fourth day in Hong Kong on prospects its version of the Las Vegas Strip in Cotai will boost profit.