CHINA

Chinese social networking site Renren Inc said it would acquire online video sharing site 56.com for $80 million.

A fire at a plant belonging to Apple Inc supplier Foxconn Group in Shandong, eastern China, has been extinguished without casualties and there will be no impact on operations, said a spokesman for group's listed entity Hon Hai Precision Industry Co Ltd .

Kobe Steel Ltd , Japan's No.4 steelmaker, said on Tuesday it was in talks with China's Anshan Iron and Steel Group to jointly build a plant for high-strength automotive steel sheets in China, in a bid to tap growing demand for lighter vehicles there.

Fletcher Building Limited today announced that it will establish a new laminates plant to be built in China by its Formica business.

China is moving to choke off funding avenues to developers across the country, tightening or eliminating credit options in a bid to slow the rampant property market and bring down prices without sending the broader economy into a crash.

Crumbling flood dykes in China decried as tofu dregs built by parasites. Erring bankers lashed as half-wits and crime accomplices. Special hotels for Communist Party elite dismissed as wasteful piles of golden splendour.

Pakistan, facing a crisis in relations with the United States, appears to be seeking more support from powerful ally China.

A recent Citigroup survey asked 1,800 consumers from the U.S., UK, and China what purposes their tablets served. Probably expected, most tablet wielders are browsing the web, checking email, or instant messaging.

India's commodity exchanges are poised for steady growth over the next few years after annual turnover more than quintupled to $2.5 trillion since futures trading started in 2003, but political hurdles hinder more dramatic development.

China's property developers are facing increasing liquidity pressure over the next six to 12 months and tightening credit conditions may see some cut prices, Standard and Poor's said on Tuesday.

Two subway trains collided in Shanghai on Tuesday, the Shanghai Metro said on its Twitter-like Weibo online account, without giving details as to whether there were any casualties.

China has put in place tighter controls over unauthorized exploration, mining, processing and sales of rare earth materials, calling them the country's 21st century treasure trove of new materials.

China is moving to choke off funding avenues to developers across the country, tightening or eliminating credit options in a bid to slow the rampant property market and bring down prices without sending the broader economy into a crash.

An extremely violent typhoon hit the Philippines Tuesday, killing at least seven people and causing heavy flooding that isolated parts of Manila.

Lenovo Group Ltd, the world's No.3 PC brand, has entered into a $300 million venture with contract laptop PC maker Compal Electronics Inc in eastern China, the companies said, pushing their shares up sharply.

Typhoon Nesat pounded the Philippines' main island on Tuesday, lashing crop-growing provinces and bringing the capital to a near standstill as it disrupted power supplies and closed financial markets, government offices, transport and schools.

President Barack Obama said on Monday that Europe's debt crisis was scaring the world and eurozone leaders were not acting fast enough, underscoring concerns about the fallout for the U.S. economy and his own re-election chances.

Two top Federal Reserve officials on Monday defended the central bank's most recent effort to boost growth, and one suggested further steps may be justified.

Forty-two countries are close to agreeing an upgrade of their Global Procurement Agreement , a reform that could unlock tens of billions of dollars of commercial opportunities, and many times more if China gets on board, trade sources said on Monday.

Canada's energy minister shot back on Friday at Hollywood celebrities protesting a plan to build a $7 billion oil pipeline to Texas from Alberta in the first public indication that the protests are getting under Ottawa's skin.

Two top Federal Reserve officials on Monday defended the central bank's most recent effort to boost growth, with one suggesting further steps may be justified.