Bank of Korea: To Prioritize Economic Recovery at 2013 Rate Reviews

SEOUL--The Bank of Korea said Thursday it will prioritize economic recovery when it reviews its official interest rate each month next year, and be vigilant toward consumer price inflation, which has shown signs of easing recently.

Japan December manufacturing PMI at lowest level in over 3 years

TOKYO: Japanese manufacturing activity contracted in December at the fastest pace in more than three years, a survey showed on Friday, as companies focused on drawing down inventories due to a mild recession at home and weak demand for exports.

Philippines Joins Korea in Restraining Currency Gains: Economy

The Philippines intensified efforts to contain a surging peso, joining South Korea in clamping down on currency forward positions as monetary stimulus in the world’s biggest developed economies spurs capital flows to Asia.

South Korea president-elect urges chaebol think twice before layoffs

SEOUL (Reuters) - South Korea's president-elect asked the leaders of the country's big businesses, or chaebol, on Wednesday to think twice before cutting jobs, saying it was time for the conglomerates her father helped build four decades ago to look beyond profits.

India, China key to growth in 2013 as global economy stares at fiscal cliff

NEW DELHI: India and China will be key for the global economy to grow by even a modest three per cent in 2013, after bouts of debt turmoils across continents pushed it to fiscal precipice and an anaemic growth rate in 2012 left policymakers and politicians at crossroads.

Japan Abe aide: No need to revise Bank of Japan law if it meets expectations

(Reuters) - An aide to Japan's next Prime Minister Shinzo Abe said on Friday that there would be no need to revise the Bank of Japan law as long as the central bank met the party's expectations for a 2 percent inflation target and more aggressive monetary easing.

China Economy Better Than Expected

The world’s No. 2 economy is better than early forecasts have suggested. On Wednesday, the World Bank upped the ante for China GDP, saying it would grow at 8.4 percent instead of their previous forecast of 8.1 percent.