CHINA

China's largest e-commerce company Alibaba.com Ltd <1688.HK> said on Friday it would pay a HK$1.1 billion ($140 million) special cash dividend to shareholders, sending its shares sharply higher.

US trade deficit declined sharply in October to reach a nine-month low as exports rose, the US commerce department said on Friday.

U.S. consumer sentiment rose more than expected in early December while an index of current conditions jumped to its highest level since January 2008, a survey released on Friday showed.

A rise in U.S. consumer confidence to its highest level in six months and a much bigger-than-expected contraction in the country's trade deficit pointed to a firmer economic recovery on Friday.

U.S. economic data painted a picture of a firming recovery on Friday as consumer confidence rose to its highest level in six months and the country's trade deficit narrowed much more than expected.

(Corrects 8th paragraph to say 9.8 percent unemployment rate was for November, not October)

Stock index futures rose on Friday following encouraging data out of China and as a two-year high in the S&P 500 had investors betting on a year-end rally.

Futures on major U.S. indices point to higher opening on Friday ahead of economic data including trade balance and monthly import price index.

General Motors Co Chief Executive Dan Akerson said on Friday that the automaker is seeking some relaxation in the restrictions on executive pay imposed by the U.S. government.

South Korean President, Lee Myung-bak, stated that reunification with North Korea would 'definitely' take place. His statement also comes close to Wikileaks revelations that suggested that North's biggest ally China is reportedly backing a plan for reunification. A leaked diplomatic cable sent out to Washington by US diplomats maintained that South Korean officials would press for reunification but precisely, under their control.

Changes reserve ratio level in third paragraph to 18.5 percent, not 19 percent

China's central bank on Friday increased the amount of money that lenders must keep on reserve for the third time in one month, a move to mop up excess cash in the economy and rein in inflation.

China's central bank raised its reserve ratio for the third time in five weeks as it attempts to 'normalize' its monetary policies.

China’s trade surplus rose in November raising fresh fears about renewed criticism from the US and Europe over Beijing’s currency policy.

The U.S. trade deficit narrowed much more than expected in October, as exports rose a robust 3.2 percent and imports declined slightly in the face of slackening demand for industrial and petroleum products, a Commerce Department report showed on Friday.

China's central bank on Friday raised the amount of money the country's lenders must keep on reserve for the third time in a month, following a spate of robust data that strengthened the case for policy tightening.

Wall Street was set for a slightly higher open on Friday following encouraging data out of China and as a two-year high in the S&P 500 had investors betting on a year-end rally.

China's central bank on Friday said it was raising lenders' required reserves by 50 basis points, effective Dec 20, its sixth increase this year.

One of China's largest social networking companies, Oak Pacific Interactive, has hired investment banks for an initial public offering in the United States next year, the first in a rush of Chinese Facebook clones looking to list.

One of China's largest social networking companies, Oak Pacific Interactive, has hired investment banks for an initial public offering in the United States in the first half of next year, sources close to the matter told Reuters on Friday.

World stocks edged higher on Friday as investors grew more confident about the prospect for economic recovery following robust U.S. and Chinese data while Treasuries stabilized after a sell-off earlier this week.