South Asia, home to a quarter of the world’s population, will probably get less monsoon rainfall than normal this year as odds increase for the emergence of the El Nino weather phenomenon that has previously caused droughts.
Pakistan raised $1.13 billion in an auction of licenses to run third- and fourth-generation mobile- phone networks that will help boost the country’s foreign reserves in an economy hit by energy shortages.
Janet Yellen could be excused for feeling whipsawed in Asia. In Tokyo 17 months ago, before taking over as head of the Federal Reserve, Yellen had to defend the U.S.'s monetary largess in front of a gathering of the testy central bankers. Now the region wants the Fed to go slow as it scales back on monetary stimulus.
Pakistan Prime Minister Nawaz Sharif’s government and Taliban militants failed to agree on extending a cease-fire in the first-ever direct negotiations between the two sides to end a decade-long insurgency.