Philippines' marcos signs $9 bn wealth fund into law.

Philippine President Ferdinand Marcos yesterday signed into law a bill creating a $9 billion sovereign wealth fund aimed at boosting economic growth and infrastructure spending, but critics warned it will be prone to misuse.

Marcos had pushed Congress for swift approval of the bill, which was filed by his son and cousin late last year.

During a signing ceremony at the presidential palace, Marcos said the fund would "leverage a small fraction" of the government's money without adding to the country's debt burden.

But a small group of protesters rallied near the palace in opposition to the law, claiming the fund was a "deception" and would put public money "in danger."

The 500-billion-peso "Maharlika...