India cuts interest rate

India's reserve bank has lowered its benchmark repo rate, the rate at which it lends to commercial banks, by 25 basis points in a bid to jumpstart the country's economy.

Fukushima plant hit by power failure

Japan's tsunami-hit Fukushima nuclear plant has been hit by a power failure, affecting its cooling systems for spent fuel ponds.

Euro ministers urge Cyprus rethink

Eurozone finance ministers have asked Cyprus to rethink plans for a one-off tax of 6.

Airbus wins record order from Indonesia's Air Lion

European plane maker Airbus has announced it has received a record order from Indonesia's Lion Air for 234 medium-haul A320 jets.

Lego to build factory in China

Danish toy maker Lego has announced plans to build its own factory in China to serve the rapidly growing Asian market.

Tokyo stocks dive on Cyprus bailout

Tokyo stocks fell 2.

Li Keqiang named China's new premier

Li Keqiang (pictured right) has been named China's new premier, replacing Wen Jiabao.

Kuroda named BOJ governor

Haruhiko Kuroda is the new governor of the Bank of Japan, after Japan's parliament approved his appointment.

Volkswagen to open seven China factories

Volkswagen is planning to open seven more factories in China, chief executive Martin Winterkorn says.

BOJ: Japan lower house endorses Kuroda

Japan's lower house of parliament has endorsed Haruhiko Kuroda to become the next central bank governor.

ENI sells Mozambique stake to CNPC

Italian oil giant ENI has signed an agreement to sell 28.

Famous Brands enters India with Debonairs Pizza

JSE-listed Famous Brands has announced its expansion into India, with a pilot Debonairs Pizza restaurant set to open in Mumbai in July 2013.

China names new president

Beijing has confirmed Xi Jinping as president, replacing Hu Jintao who is stepping down after 10 years at the top.

Golden Agri's Liberia project gets $500m loan from China

Singapore-listed Golden Agri-Resources Ltd, the world's second-largest palm oil producer, said Wednesday its Liberia business Golden Veroleum has received a $500 million loan from the China Development Bank to develop palm plantations in the African country.

Cathay Pacific profits fall 83%

Hong Kong-based Cathay Pacific has announced profits have fallen 83 percent amid higher fuel costs and a drop in demand for corporate travel.

Japan in energy breakthrough

Resource-starved Japan has extracted methane hydrate - better known as "fire ice" - from its seabed in what has been described as an energy breakthrough.

India's GVK in Australian coal deal

India's GVK has joined forces with Aurizon, Australia's largest rail freight company, to build the infrastructure needed for the development of the Galilee Basin in central Queensland.

India car sales fall 26%

Car sales in India's passenger market fell by nearly 26 percent last month on an annual basis, industry figures show.

Former Sony CEO to retire in June

Howard Stringer, Sony board chairman, who served as president and CEO from 2005 to 2012, is to retire, he announced.