A tussle among conglomerates for control of the main gateways north and south of the Philippine capital is boosting the real estate market in the provinces, helping economic activity spread beyond Metro Manila.

SINGAPORE - Defaults by Asian companies are likely to rise this year as the economic environment deteriorates and as credit becomes tighter with European lenders reducing their exposure to the region, ratings agency Moody's Investors Service said on Thursday. Asian economic growth has slowed in recent months, hurt by problems in Europe. On Wednesday, South Korea posted a shock 6.6 ...

* Credit becoming tighter as European banks retreat * Chinese developers, refining and tech firms vulnerable * India, Korea may suffer from weak or volatile FX * Sanguine on Asian bank ratings - Defaults by Asiancompanies are likely to rise this year as the economicenvironment deteriorates and as credit becomes tighter ...