India's Modi names Rajan ally as chief economic adviser

(Reuters) - A high-powered academic who tells his students to read Joseph Conrad and Gabriel Garcia Marquez to better understand economic development was confirmed on Thursday as chief economic adviser to Indian Prime Minister Narendra Modi's government.

Recovery on track, chinese factories abuzz

China's manufacturing expanded at a faster pace last month, indicating a recovery in the world's second-largest economy is sustaining momentum.

China 'losing edge' as low-cost manufacturer, says KPMG

China is losing its edge as the world's cheapest place to manufacture goods, a new report suggests.

Indonesia and Bangladesh are benefiting most as rising costs in China force firms to switch production, it says.

The report by consultants KPMG says that minimum wage levels in China are now four times greater than other places in South and South East Asia.

China manufacturing slows down in April

China's manufacturing growth slowed in April, according to official figures.

The country's purchasing managers' index (PMI), which is designed to provide a snapshot of conditions in the manufacturing sector, fell to 52.9 in April, from 53.4 in March