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.
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.