Asia

Financial News

Asian Stocks Rise, Erasing Earlier Decline, Led by Banks; Fortescue Jumps Asian stocks and U.S. futures advanced on speculation governments will step up efforts to revive economies and after the Wall Street Journal reported Citigroup Inc. may be sold.

Bank of Japan Keeps Rate at 0.3%, Considers Adding Funds to Banking System The Bank of Japan held its benchmark interest rate at 0.3 percent and said it will consider pumping more money into the financial system to prop up an economy that fell into a recession last quarter.

Toyota to Cut 3,000 Jobs, 50% of Japanese Temporary Workers, as Sales Fall Toyota Motor Corp., Japan's biggest carmaker, will cut its domestic temporary workforce by 50 percent as vehicle demand slumps globally.

Toshiba, Hitachi Seek Nuclear Cooperation with India as Supply Ban Ends Japanese nuclear-reactor makers will visit India for the first time since a three-decade ban on atomic trade with the country ended and seek to catch up with the U.S. and France in the race to build power plants.

DLF's Singh Says Realistic Rates Vital to Drive India's Property Recovery DLF Ltd., India's biggest real estate developer, said a recovery in the property market in the next six months hinges on lower home-loan rates to lure first-time buyers.

New Zealand Facing Longest Recession in 18 Years as Exports, Tourism Slow New Zealand faces the most prolonged recession in 18 years as a slowing world economy curbs exports, farm incomes and tourist arrivals, forcing companies to fire more workers, economists say.

Australia, New Zealand Dollars Drop as Stocks Slide; RBA Buys Own Currency The Australian and New Zealand dollars headed for a second weekly decline after U.S. stocks slumped to an 11-year low, prompting investors to sell higher- yielding assets.

Fortescue Rises Most in Five Weeks After Reporting Profit, Increased Order Fortescue Metals Group Ltd., Australia's third-largest iron ore exporter, rose the most in five weeks in Sydney trading after reporting a new sales agreement and a quarterly ``trading profit'' of A$360 million ($219 million).

General News

Sri Lankan Forces Break Through Rebels' Northern Defense Line in Jaffna Sri Lankan forces broke through the Tamil Tigers' northern defense line after a three-day battle, as the military attempts to close in on the rebels' headquarters in a pincer movement.

Salarymen Told to Save Japan by Raising More Children, Working Fewer Hours Keidanren, Japan's biggest business organization, is worried the nation's workers aren't having enough sex.

Australian Police Seize $20 Million of Crystal Meth in Gloves From China Crystal methylamphetamine valued at A$32 million ($20 million) smuggled in household items from China were intercepted by police in South Australia in the state's largest seizure of the addictive recreational drug.

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