16 July 2014

Typhoon kills 12 in Philippines, spares Manila

A father and his son evacuate to safer grounds as Typhoon Rammasun battered Manila, Philippines, Wednesday, July 16, 2014. Rammasun left at least seven people dead and knocked out power in many areas but it spared the Philippine capital and densely populated northern provinces from being directly battered Wednesday when its fierce wind shifted slightly away, officials said.
A typhoon left at least 12 people dead, knocked out power in many areas, damaged a parked plane but spared the Philippine capital on Wednesday when its fierce wind shifted, officials said.
Still, Typhoon Rammasun's winds of 150 kilometers (93 miles) per hour and blinding 185-kph (115-mph) gusts brought down trees, electric posts and ripped off roofs across the capital of 12 million people, shutting government offices and schools. More than 370,000 people moved from high-risk villages to emergency shelters in six provinces.

BRICS nations agree to create own development bank

Leaders of the BRICS nations, from left, Russia's President Vladimir Putin, India's Prime Minister Narendra Modi, Brazil's President Dilma Rousseff, China's President Xi Jinping and South Africa's President Jacob Zuma, pose for a group photo during the BRICS summit in Fortaleza, Brazil, Tuesday, July 15, 2014. The leaders of the BRICS nations are expected to officially create a bailout and development fund worth $100 billion. It's meant to be an alternative to the World Bank and the International Monetary Fund, which are seen as being dominated by the U.S. and Europe.
The leaders of five emerging market powers said at a summit Tuesday that they gave final agreement to creating their own development bank worth $100 billion that will have its headquarters in China.
The first president of the New Development Bank will be from India and the position will rotate every five years among Brazil, Russia, India, China and South Africa — the so-called BRICS nations, a joint statement from the leaders said.