The Japanese government has announced its intentions to follow the US lead and become a member of the new intergovernmental renewable energy agency IRENA.

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.

Asian currencies strengthened this week following an announcement that American banks could stand without government buyout, and optimism about new Chinese and Japanese stimulus packages.

Association of South-east Asian Nations (Asean) to give unified statement against trade protectionism at a summit next week, and will discuss details of a regional foreign reserve fund pool. Finance ministers in the Asia region are holding bilateral talks in the lead up, showing strategic cooperation to prevent trade protectionism.