Japan trade deficit hits record high

Japan has reported its biggest fiscal year trade deficit ever, a contrast from decades of surpluses on booming exports, as the nuclear crisis brought about by the March 2011 tsunami boosted oil and gas imports.

Japan PM Naoto Kan announces resignation amid criticism

Japan's beleaguered Prime Minister Naoto Kan has announced his resignation, clearing the way for the country's sixth leader in five years.

Mr Kan has been criticised for failing to show leadership after the devastating 11 March earthquake and tsunami, and ensuing nuclear crisis.

World Bank tells East Asia to tighten

Speaking at a forum in Singapore, the country's Finance Minister Tharman Shanmugaratnam said Japan's nuclear crisis could hurt consumer and business confidence.

"Confidence is affected in a different way from a one-off natural disaster," said Tharman, tipped to be the next head of the International Monetary Fund's International Monetary and Financial Committee.