Japan sets power-saving targets to avoid blackouts

Japan has set power-saving targets during the peak summer season to avoid a wider collapse of power grids.

Major power users have been asked to cut consumption by 25%, said the trade minister according to the Reuters news agency.

Two challenges for Asia’s economy in 2011

Asia’s recovery is firm and the region is expected to continue to grow by 7.8 percent in 2011 and 7.7 percent in 2012, despite the modest and still uncertain recovery in the major industrial economies and the recent hardship in Japan.

However, maintaining high growth could be more difficult than Asia seems prepared to admit. In order to sustain its growth, the region needs to address two important challenges.

Growing economic links with Asia to benefit growth prospects in Gulf

Dubai: The growing econ-omic ties with emerging economies of Asia will benefit economic stability and growth prospects of Gulf economies, said financial experts speaking at the annual Standard Chartered Forum in Dubai yesterday.

"Emerging economies of the world are going through a super cycle of sustained growth over the next two decades. The Gulf region's proximity to some of these markets like India will certainly benefit the region. With India gradually opening up its economy, the Gulf countries stand to benefit the way East Asia benefited from China's growth," said Dr Gerard Lyons, Chief Economist, Standard Chartered Group.

China raises interest rates again to tackle inflation

China's central bank has raised key interest rates by a quarter-point in a further effort to curb bank lending and rein in inflation.

The latest move takes the one-year deposit and lending rates to 3.25% and 6.31% respectively.

China's Minmetals in bid for copper rival Equinox

China's Minmetals Resources has made a $6.5bn (£4bn) bid for Equinox Minerals, an Australian-Canadian copper miner.

It is thought to be the largest unsolicited bid by a Chinese mining company, and reflects the sector's acquisition spree.

Christchurch job market lightens with new flights

As Christchurch moves on with the rebuilding of the city, concern is growing about the state of the region's economy.

Low fare airline Air Asia X's first flight has landed in the city, just in time to help boost the weakening economy.

Every day more jobs are being lost and when the rescue package runs out in seven weeks many are expected to go on the benefit.

India charges ex-minister, firms in telecom scandal

A former government minister in India is among a dozen defendants charged in a multi-billion-dollar corruption scandal that has rocked the country's coalition government and investor confidence in Asia's third-largest economy, federal police said Saturday.

Andimuthu Raja, a former telecommunication minister, is accused of being involved in a scheme involving the underselling of cell phone licenses at the height of India's lucrative telecom boom.