A drop of 2.4 percent year on year was experienced by Malaysia in its price index in August, which became its third straight month of commodity price deflation.

In June 2009, consumer price inflation turned negative for the very first time since August 1986. It was when Malaysia recorded one month of deflation. 

A 30 percent climb in taxi and bus fare that took effect from Aug 1 helped CPI to rise month-on-month by 0.2 percent, on an unadjusted basis. 

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The recession hit Hong Kong's dominant carrier- Cathay Pacific Airways has announced to sell 12.45% stake in Hong Kong Aircraft Engineering Co. to its parent Swire Pacific Ltd in a bid to raise 245 million. Cathay, having 27.45 per cent shares in the air maintenance company, would left with just 15 per cent stakes in the firm post transaction.

Chief Executive Tony Tyler said, "Cash preservation has remained Cathay Pacific's top priority during this downturn, and over the past year we have already taken many measures to help us achieve this goal."

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The world's biggest developer by market value, Sun Hung Kai Properties Ltd did record sale of apartments helping it to raise its profit by 32 per cent. Hong Kong based builder's net income rose to HK$7.88 by June 30 as compared to HK$5.99 billion in the corresponding period last year.

Victor Lui, Executive Director of Sun Hung Kai Real Estate Agency, said, 'The property market has been performing well so far this year, and I think as long as projects are priced reasonably and if the quality of the project itself is good, that can still attract buyers.'

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China successfully managed to woo investors to invest in the world's fastest developing economy with investment in August increased 7 per cent as per data provided by the Ministry of Commerce. 

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The Hong Kong government said, on Tuesday that a typhoon swept through the country, leading to closing of schools, and shutting down of most businesses. The typhoon injured around 28 people in Hong Kong, before it proceeded towards China. 

The Hong Kong Observatory explained that as Typhoon Koppu continues to go away from Hong Kong, by around 10 am (3:00 a.m. BST), the city will replace the No. 8 storm signal with a No. 3 strong wind signal.

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On Wednesday, the local media reported that on Thursday, Malaysia's Foreign Affairs Minister Anifah Aman will meet his Indonesian counterpart in Jakarta, with the aim to talk about the mounting tensions between the two countries. 

According to a report in a well-known newspaper, the aim of Anifah Aman's one-day trip to Jakarta is to lessen the negative opinion some Indonesians have of Malaysia, even though he called it as "a normal sort of meeting".

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The world's largest diversified miner and No. 3 iron ore miner, BHP Billiton Ltd, is still working on plans to sign a long-term iron ore price contracts with Chinese steel mills. Tom Schutte, president, marketing for BHP, said that the firm is set to start next year's negotiations for the deal to materialize soon.

Mr Schutte said: "China is well advanced with most indicators increasing to strength, continuing a stronger-than-expected recovery and positive momentum."

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It has appeared that cable television operator Kbro Co. would be acquired by Taiwan Mobile Co. from Carlyle Group LP, a deal which will provide the U. S. private equity firm a 15.5% stake in the mobile phone company.

A source familiar with the deal specified that the official announcement will be made later Wednesday, and that the deal puts an estimate of $1 billion equity value on Kbro. Furthermore, it includes Taiwan Mobile assuming a further $800 million in debt.

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Tom Harkin, the newly appointed Iowa senator, empowered to investigate health matters as chairman of the Senate Health, Education, Labor and Pensions Committee, promised to investigate deep into any connection between cellphone use and cancer.

Cellphones, being used by an estimated 275 million people in the U. S. and 4 billion worldwide, use radio waves. No clear link has yet been established between the use of cell phones and several kinds of cancers.

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Japan's biggest telecom giant NTT DoCoMo has announced its decision to sell its 16.5 percent stake in U-Mobile for US$100 million saying 'good bye' to the Malaysian market. DoCoMo had purchased these stocks for the same amount from the Malaysian 3G mobile operator earlier this year.

South Korea's KT Freetel (KTF) had also sold its stakes in the firm to UTV for the same amount earlier this year. KTF and DoCoMo had acquired 33 per cent stakes in the telecom firm in December 2007 for US$200 million, which was later on distributed between both companies.

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Singapore government, concerned over speculations in the property market, has announced various measures to avoid any housing bubble in the real estate segment. The Ministry of National Development has announced its decision to allot more land for developers, besides tightening norms governing home loans in the country.

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Air India and Singapore Airlines have extended their partnership through a fresh deal, allowing customers of both airlines to enjoy great choice and value for their money. Passengers can earn and redeem miles on flights under current bilateral deal, effective from Tuesday. The Singapore Airlines, having six air destinations in India, is set to cover 93 destinations in 38 countries, with the inclusion of subsidiary carrier SilkAir.

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Concerned over frequent fluctuations of property due to speculations, Singapore authorities have planned extra efforts for making it difficult for home buyers to defer payments.

All banks and developers are directed not to sanctions loans for under-construction homes and borrowers are required to repay principal only after the completion of the building.

The Singapore government has announced to provide more land to developers besides reinstating list of confirmed land sales for the first half of financial year 2010.

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A spokesman for China's Commerce Ministry said recently that WTO-sanctioned consultations have been requested by China, with the United States over Washington's new duties on Chinese-made tires.

Yao Jian, the spokesman, described the tire duties, announced by Washington on Friday, as being in violation of WTO rules.

Yao said in a statement on the Ministry's website (Mofcom. gov. cn): "China has requested consultations with the United States, which is a legitimate use of its rights as a member of the WTO."

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China has accused United States of violating international trade laws because of President Barack Obama's recent decision to impose punitive tariffs of 35 per cent on tires imported from China.

China's Ministry of Commerce said Saturday that it might refer the case to the World trade Organisation as new tariffs not only violated the rules of WTO but also runs against the commitment made by the US at the G20 summit.

On the other hand, White House has defended Obama administration's concerned decision, saying it was not an act of trade-protectionism.

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As per the managing director of Vavasi Telegence Pvt, a majority stake in Kuwait's biggest telephone company would be bought by a Vavasi-Malaysian group, in negotiation with Zain shareholders.

Farid Arifuddin informed, "We have signed a transaction agreement yesterday. The modalities on the transaction structure have been finalized."

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As per the media reports, Volkswagen, which agreed to a 4bn euros ($5.84bn; £3.5bn) investment recently, is now mulling to increase its presence.

The company's basic aim underlying the investment is to introduce new products and enlarge production by an extra 100,000 units in China.

Nearly 1.3bn euros of the investment will be utilized in order to enhance the output capacity in both Nanjing and Chengdu by 50,000 units to 350,000 each over two years.

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It has appeared that in order to get rid of a non-core division and invest nearly $500 million, Singapore's United Overseas Bank Ltd is selling its life insurance unit.

The move is a clear indication of increased optimism among executives, who are looking at terminating the business. The deal also emphasizes on the ongoing interest of Western firms, which are seeking to tap Asia's growing personal wealth.

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In the month of August, a rise by 9.3% was witnessed in China's power generation from a year earlier - marking not only a record high, but also its fastest growth in 15 months. This growth clearly reflects that the nation has started moving on the recovery path.

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With the aim of improving the traffic conditions in Kathmandu Valley, an inspection station near Tibet border will be set up by Nepal and China, which will also conduct a survey of the proposed ring-road project.

A statement made public by Foreign Ministry informed that the MoUs, concerning the inspection station, were signed yesterday by Nepal's Foreign Minister Sujata Koirala, who is currently on a five-day official visit to China, and her Chinese counterpart Yang Jiechi in Beijing.

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