Pakistan, IMF agree to $5.3 billion bailout

ISLAMABAD (AP) -- Pakistan took a major step toward averting an economic crisis Thursday, reaching an initial deal with the International Monetary Fund on a bailout of at least $5.3 billion to help shore up the country's rapidly diminishing foreign reserves.

Thai economy holding strong in spite of global headwinds

The Thai economy ( THD , quote ) remains in a strong position to continue outperforming this year, even as other emerging markets struggle with global macroeconomic headwinds.

7-point strategy to boost export; Govt said

Amid global economic problems, the government on Tuesday unveiled 7-point strategy to boost exports which include extension of interest subsidy scheme by one year till March 31, 2013.

Trial begins for Vietnam ship scandal executives

Former top officials accused of bringing one of Vietnam's largest state-owned companies to the brink of bankruptcy have gone on trial for violating regulations.