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 …

Last week legislation to change the voting procedures for the Senate passed both houses of the Australian Parliament. With the current conservative Liberal/National coalition government not having a majority in the Senate, the legislation was passed with the assistance of the Greens, and the powerful South Australian Independent Senator, Nick Xenophon. Whenever a voting system becomes a topic of debate …

BLOOMBERG The dollar is on its longest winning streak in a month as speculation builds that the Federal Reserve is moving closer to raising interest rates — and that’s weighing on oil, gold and emerging markets. The U.S. currency strengthened for a fourth day after Chicago Fed President Charles Evans joined officials who’ve said this week they expect to raise …