Nothing makes you appreciate air-conditioning like high summer in India. In Delhi, temperatures are running over 100 degrees for much of the day, with two full months still to go before the cooling monsoon rains arrive. Unfortunately, just as everyone decided to crank up their ACs or at least their ceiling fans, electricity supply collapsed under the strain in large ...

  The Philippines is having the kind of recovery that would make any emerging-market star envious. After a tough pandemic and deep recession, the economy will outpace many of its neighbors this year and leave China — once the gold standard for rapid expansion — in the dust. Whoever wins the presidential election in a few days will inherit a ...

  Much as expected, the Federal Reserve has raised its policy interest rate by half a percentage point and announced an accelerated schedule for reducing its holdings of financial assets. This is a faster pace of tightening than the central bank intended after its previous meeting in March. With inflation at 5.2% on the Fed’s preferred measure and little sign ...