The reaction of financial markets to the terrorist attacks in Brussels on Tuesday was calm and mature, showing that they have learned the lessons of such tragedies, which have become all too common. Nonetheless, markets will find it increasingly difficult to price the longer- term effects, including unusual political developments that could affect the global economy. The markets’ relatively muted …

Here we go again. Speaking on NBC’s Today show shortly after deadly terrorist attacks in Brussels, Donald Trump said the U.S. should “close up our borders until we figure out what’s going on.” The Trumpian rhetoric is now familiar: His proposal is both shockingly aggressive — it was accompanied by another call to “expand” American law to permit the torture …

Shang-su Wu SPECIAL TO EMIRATES BUSINESS With his term set to end in June, it’s an appropriate time to review the Philippines’ military modernization efforts under the administration of President Benigno Aquino III. During his six years in office, military modernization has advanced at a scale unprecedented since the Marcos era – but it remains insufficient. After the Philippines gained …