MANUFACTURING

Moon was born in what is now North Korea.

Manufacturing downturns spared no one in August, surveys of purchasing executives showed, in the latest sign of weakness in the global economy. While the batch of gloomy data has boosted hopes for further central bank actions, some economists remain skeptical that there would be any significant effects.

A major blaze in a fireworks factory at Sivakasi in Tamil Nadu, India, has reportedly led to 10 people, including children, dead and more than 20 injured on Wednesday, local media reports said.

U.S. stock index futures pointed to a lower open Wednesday as investor confidence continued to be weighed down by high degree of uncertainty about policymakers announcing stimulus measures to revive economic growth momentum.

Asian stock market declined Wednesday as weak economic reports from U.S. and China weighed on the sentiment. Concerns over global economic downturn resurfaced after the Institute for Supply Management (ISM) said that U.S. factory activity contracted for the third straight month in August

India's service sector continued its growth for the tenth consecutive month in August, based on a quick and the fastest pace since February, based on steady growth in new orders, according to the latest HSBC PMI data released Wednesday.

Crude oil futures declined Wednesday as weak manufacturing reports from the U.S. and China raised concerns of a further global slowdown.

August saw the Indian private sector business growing at its swiftest in six months. The rapid progress was augmented by development in new business since February amid increasing optimism about the future, according to a survey on Wednesday.

China's services activity growth declined in August to the slowest pace in a year after the recovery in July, according to the HSBC Purchasing Managers' Index released Wednesday.

Asian markets fell Wednesday as investors' concerns about the weakening global economy was revived by the declining U.S. manufacturing activity and disappointing China's services activity.

Asian shares and the euro eased Wednesday, with investors waiting for a European Central Bank meeting on Thursday and U.S. payrolls on Friday for signs of more action to counter European debt woes and support growth.

Republican critics jumped on President Obama's remarks as more evidence that the he is not capable of reviving the economy.

Bellevue, Wash.-based Valve, the software developer behind the critically-acclaimed Half-Life series, the Steam network for distributing games and the Source engine, is reportedly interested in building hardware. Valve, which was founded by two former Microsoft employees in Gabe Newell and Mike Harrington, added a job posting to its site on Tuesday morning for an industrial designer.

During the holiday week, economy-watchers are likely to focus on Friday's August nonfarm payrolls report and the European Central Bank’s governing council meeting, on Sept. 6.

Asian stock markets ended lower Tuesday as investors remained watchful ahead of the European Central Bank (ECB) meeting and U.S. non-farm payrolls data later this week.

The U.S. stock index futures point to a higher open Tuesday as market sentiment was underpinned by expectations that policymakers around the world will announce stimulus measures to rejuvenate the economic growth momentum.

Gold edged higher on Tuesday to the highest level in more than five months as lacklustre manufacturing data from around the globe fanned speculation of imminent easing measures from central banks.

Asian stock markets mostly ended higher Monday on hopes that major central banks around the world would soon announce a new round of stimulus measures to tackle the deteriorating global economic conditions.

Morgan Stanley Monday cut India's economic growth forecast to 5.1 percent from the previously projected 5.8 percent, citing low private investment and poor government finances.

Crude oil prices declined in Asia Monday as sentiment was dampened after reports indicated a sharp slowdown in the Chinese manufacturing activity in August.

Most of the Asian markets rose Monday as investors remained hopeful that the world's central banks would announce stimulus measures soon to help boost the global economic growth.