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New Zealand cuts rates to 8%
With an economy on the brink of recesssion, New Zealand’s central bank cut interest rates, betting an economy on the brink of recession would cool the fastest inflation in two years
Japan’s exports fall for first time in five years
China and other emerging markets have largely escaped the effect of the global credit crisis, but with the world’s main export markets in Europe and North America reeling, a global slump looks increasingly likely.
OECD urges Indonesia to lift growth
The OECD has urged Indonesia to overhaul its labour laws, remove foreign investment restrictions and cut its fuel subsidies if it is to maintain current growth rates
China’s banks told to tighten mortgages
Chinese officials have warned domestic banks to tighten their mortgage lending after the US government’s action to prop up Fannie Mae and Freddie Mac, the giant mortgage agencies
Rice hails talks with North Korea
The US secretary of state met Pak Ui-chun, her North Korean counterpart, on Wednesday together with the foreign ministers of China, Japan, Russia and South Korea
India vows to revive economic reforms
Palaniappan Chidambaram, finance minister, says the Congress party – freed from the constraints of its former leftist allies – will build consensus for a range of economic bills
Rewards and risks of Chinese legal career
China Beyond the Games Part 3: One lawyer works in the plush Beijing office of a US law firm. The other is a defender of the disenfranchised. Together they represent the yin and yang of China’s justice system
Australian core inflation hits 17-year high
Inflation in Australia accelerated to its fastest annual pace in 17 years last quarter as the cost of fuel, financing and rents all climbed, suggesting interest rates would have to stay high for some time to come
Indian coalition survives trust vote
India’s ruling coalition has survived a crucial parliamentary vote of confidence, giving it a full mandate to push forward with a groundbreaking agreement to co-operate with the US on civilian nuclear energy development
ADB tells Asian banks to act on inflation
Asian central banks have been warned that they will need to raise interest rates more quickly if they are to contain inflation
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