CHINA

Trade relations between China and Philippines are likely to go downhill unless territorial dispute between the two governments over the South China Sea is resolved, believe experts. The standoff has apparently extended to economic crisis, with fruit trade and tourism sectors already taken a hit, the China Daily reported. Unless bilateral tensions ease over disputed ownership of Huangyan Island, the problem may likely worsen with economic sanctions imposed.

U.S. stock index futures fell sharply on Monday, tracking global equity markets lower as a political impasse in Greece heightened concerns about the Europe's debt crisis as the region struggles to avoid a deepening recession.

Asian stock markets advanced on Monday after People's Bank of China announced a second cut this year in the reserve ratio to boost economic growth.

Tibetan spiritual leader Dalai Lama has alleged that Chinese agents are plotting to kill him with the help of Tibetan women.

This will be the first game in the ?Call of Duty? franchise to have a completely futuristic setting and will feature future technology relating to war.

Chinese Premier Wen Jiabao called on northeast Asia's powers to cooperate more in the face of global economic headwinds, as China, Japan and South Korea agreed at a summit on Sunday to soon launch negotiations on a three-way free trade pact.

China's economic growth has been comparatively anemic lately, so the People's Bank of China will give it a transfusion by cutting the banks' reserve requirement ratio by 0.5 percentage point (50 basis points) on May 18, according to the country's official Xinhua News Agency.

You may have watched the movie Snakes On A Plane and this classic action flick has served as an inspiration to many criminals and drug dealers around the world to smuggle illegal substances, valuable properties, living beings and rare species. Here is a slideshow which will take you on a ride to several ridiculous methods adopted by smugglers.

Asian markets fell at week's end as Greece's inability to form a government, uninspiring Chinese industrial output growth and JPMorgan's trading losses affected investor sentiment.

Hong Kong's economy slowed down in the first quarter compared to the last quarter of the previous year as exports dipped with soft global demand.

China's announcement that construction was down and manufacturers bought less factory equipment in April drove oil prices down and caused concerns that the global economy was slowing down. These concerns were reflected in market activity.

An auction of Chinese dissident artist Ai Weiwei's porcelain sunflower seeds at Sotheby's in New York on Wednesday has fetched almost $800,000 - but it's unclear how much of the money will find its way to the hundreds of Chinese workers who made them.

Afghanistan will be the focus of a crucial NATO summit in Chicago this month, said NATO Secretary General Ander Fogh Rasmussen during a press conference on Friday. But Pakistan, once a crucial partner in NATO's efforts there, may not be represented at the event.

Just about everything in China's economy seems to have gone backwards in April and the raft of weaker data raised fears that the world's second largest economy has yet to bottom out.

The naval standoff between China and the Philippines in the South China Sea has the two countries on the brink of conflict, but a demonstration in Manila against China has been sparsely attended, offering hope that an escalation can be avoided.

The earnings calendar for the week ahead will be comparatively light, but a number of bellwether companies will be reporting results.

Gold prices fell to a four-month low on Friday as worries over the financial health of Greeceand Spain and huge trading losses for JPMorgan hurt stock markets and the euro, prompting investors to seek refuge in the dollar.

Hundreds of Philippine protestors took to the streets outside the Chinese embassy in Manila demanding China to withdraw its ships from the region.

China Thursday ordered four international auditing firms in the country to hire Chinese nationals in a bid to suppress foreign control of their operations in the country.

Asian markets fell on Friday as concerns surrounding Greece, weak industrial output growth in China and JP Morgan's trading loss dampened sentiments.

China's inflation rate slowed in April from the previous month, showing signs that the price pressure is gradually diminishing to make room for monetary easing.