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

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

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

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

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

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

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

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.

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

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 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.

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

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

Tokyo stocks closed 2.

Arsenal will become the first Premier League club to play in Vietnam during their pre-season tour to Asia this summer.

North Korea is scrapping all non-aggression pacts with South Korea, closing its hotline with Seoul and shutting the shared border point after the United Nations Security Council unanimously backed toughened sanctions against the regime following nuclear tests in the country last month.

The excitement is building as this year's F1 season draws near.

India on Wednesday approved a proposal by Malaysia's AirAsia to invest 800 million rupees ($14.