The economic slowdown is a 'benign correction', the official Shanghai Securities News quoted central bank adviser Fan Gang as saying. ... more

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Indonesia inflation hits 11.68%
Analysts polled by Reuters had forecast annual inflation of 11.60 per cent in November. -Reuters

Markets look to central banks
Central banks are poised to step up their efforts this week to tackle the deepening economic crisis. -AFP

Inject 2% of GDP to save world
Countries need the additional funding for rescue plans to prevent the world economy from shrinking even more next year. -AFP

GM board reviews new turnaround plan for bailout
GM Corp review a restructuring plan to cut costs and win support in emergency funding from government. -Reuters

Chastened Big Three US automakers to present recovery plan
Big 3 US carmakers return to Washington to convince lawmakers that their companies are worth $25 billion. -AFP

Japan 2008 car sales seen hitting 34-yr low-Nikkei
Japan skid to a 34-year low as the economic slump takes its toll on consumer spending. -Reuters

Auto industry faces 'massive' job losses without aid: Ghosn
Countries face massive job losses unless they quickly provide financial assistance to their carmakers. -AFP

BoJ to announce new steps
Bank of Japan will introduce new emergency measures to help struggling firms. -AFP

Thai Nov inflation falls to 2.2%
Inflation at 14-month low thanks to a drop in oil prices and petrol subsidies. -Reuters

Oil prices down in Asia
Opec oil cartel maintains existing production quotas amid downturn. -AFP

Temasek to sell S'pore Food
Temasek plans to sell Singapore Food Industries of which it owns 69.7%. -ST