Developing Asia set to grow 6.9%, slowing from 7.2% in 2011 on weak global demandHONG KONG (AP) ― Developing Asia’s economic growth will slow to 6.9 percent in 2012 because of weak global demand, the Asian Development Bank said Wednesday, as it warned widening inequality could undermine political stability. Despite cutting its forecast from the September projection of 7.5 percent, the ADB said growth rates remain robust in most countries, where momentum is supported by rising domestic demand. T

MANILA (AP) ― Former Philippine President Gloria Macapagal Arroyo and her husband pleaded not guilty Wednesday to corruption charges related to an overpriced deal with a Chinese telecommunications company in a second criminal case against her.Arroyo was arrested last year on a separate charge of electoral fraud and has been since indicted in connection with a $330 million government contract with Chinese telecommunications giant ZTE Corp.A congressional probe found the 2007 contract overpriced a

MANILA (AP) -- The Philippine government said Wednesday it agreed with China to diplomatically resolve a tense standoff involving a Philippine warship and two Chinese surveillance vessels in the disputed South China Sea, the most dangerous confrontation between the sides in recent years.Philippine Foreign Secretary Albert Del Rosario said he met with Chinese Ambassador Ma Keqing and both reaffirmed their governments‘ positions that the Scarborough Shoal where the ships are facing off was part of

WASHINGTON (AFP) ― Mitt Romney on Tuesday effectively won the Republican Party crown to challenge President Barack Obama in November elections, as chief rival Rick Santorum dropped his long-shot White House bid.“This presidential race is over for me,” Santorum told reporters in Gettysburg, in his home state of Pennsylvania.Despite an upset victory in the first Republican nominating contest in Iowa in January that led to a surprising showing with victories in 10 more states, Santorum failed to bu

WASHINGTON (AFP) ― President Barack Obama holds a commanding lead over Mitt Romney on campaign issues like world affairs and health care, a poll showed Tuesday, but trails the Republican frontrunner on one key front: handling the U.S. economy.Obama enjoys double-digit advantages on women’s issues, protecting the middle class, likability, and better understanding the economic challenges of the average American, according to a Washington Post/ABC poll, which had Obama winning 51 percent to 44 perc

A tsunami watch was issued for countries across the Indian Ocean after a massive earthquake hit waters off Indonesia on Wednesday, triggering widespread panic as residents along coastlines fled to high ground in cars and on the backs of motorcycles. Some were screamed ``God is great'' as they poured from their homes. Others, separated from relatives, cried as they ran frantically through the streets.The U.S. Geological Survey said the 8.6-magnitude quake was centered 33 kilometers beneath the oc

Mitt Romney on Tuesday effectively won the Republican Party crown to challenge President Barack Obama in November elections, as chief rival Rick Santorum dropped his long-shot White House bid. Surrounded by members of his family Republican presidential candidate, former Pennsylvania Sen. Rick Santorum announces he is suspending his candidacy effective today in Gettysburg, Pennsylvania, Tuesday. (A

(MCT)Two public school teachers and a school administrator who call themselves ``The Three Amigos'' are sharing the spoils of last month's record Mega Millions jackpot, planning trips to Europe, new homes and children's college educations, Maryland state lottery officials said Tuesday.The Maryland winners claimed their proceeds Monday and chose to remain anonymous, but the lottery agency shared so

NEW YORK (AP) ― Faltering Internet icon AOL was able to squeeze out more than $1 billion from Microsoft for a trove of some 800 patents in an auction, the latest sign of just how valuable such portfolios can be for the world’s biggest technology companies.“There is a fight for market share occurring on multiple fronts ― technology, patents, advertising,” said Colin Gillis, an analyst with BGC Financial who covers Microsoft. “Microsoft, more so than others out there, has been (using) its patent p