I don't think that PHP has "application" variables in that sense.
Most sites implement that functionality by putting an "include('site.inc')" or something to that affect at the top of the scripts. The site.inc file contains script that retrieves required values from a file or database or defines site specific variables/constants. You can put a function in there that allows you to modify values from other locations in the main script body if necessary.
It's a little extra work, but it achieves the same results.
-- Rich Rijnders
-- Irvine, CA US