The head of the Philippines central bank has announced the economy will not go into recession, unlike neighboring countries Singapore, Thailand, Taiwan and Hong Kong.

The world's number two and three economies Japan and China met Sunday in a rare show of bilateral cooperation to boost global economic lag. The two rivaling countries agreed to cooperate in 11 areas including agriculture, environment, technology, aid and energy saving policies.

China has drafted rules for tighter control of gas mileage to improve fuel economy 18 percent, or 42.2 miles per gallon, by 2015, demonstrating tougher rules than recently announced American gas mileage standards.

The suicide of former president Roh Moo-hyun last week has spurred growing unrest and criticism of the current Lee administration.

Days after North Korea detonated an underground nuclear device and launched a series of short-range missiles, US Secretary of Defense Robert Gates met with his counterparts from Japan, South Korea and China to discuss how to collectively deal with the increasingly belligerent Stalinist state.

Two government bodies have drafted a list of mandatory environmental measures for Chinese outbound investment, state media reported last week.

With inflation decreasing and a key interest rate cut expected next week, Asia's strongest economic performer next to China and India may be a new hot spot for foreign investment.

The 15-member Taiwan delegation arrived in Geneva for the World Health Assembly over the weekend, the first time the island has participated in 38 years. This comes just a week after 100,000 Taiwanese protested President Ma Ying-jeou's China friendly policies.

Former South Korean President and human rights lawyer Roh Moo Hyun jumped off a mountain to his death Saturday, amidst allegations of bribery.

The Chinese government issued a statement Thursday saying rich nations should cut emissions 40 percent from 1990 levels by 2020, and provide 0.5 to 1 percent of economic wealth to help other countries curb carbon emissions.