CHINA

Stronger economic growth in the United States will eventually lead to rising inflation this year as increased consumer and business spending drive the recovery, according to a Reuters poll of economists released on Wednesday.

China Vanke, the country largest developer by sales, said on Wednesday property sales jumped 221 percent in January from a year ago to 20.1 billion yuan ($3.07 billion).

Dozens of Chinese climbing enthusiasts scaled huge, frozen waterfalls in rural Beijing, taking part in a competition showcasing the rapid rise in popularity of outdoor sports.

China on Wednesday increased the cost for people borrowing from a fund designed to support first-time home buyers, in line with the country's latest rise in benchmark interest rates.

U.S. stocks opened modestly lower on Wednesday as investors await comments from Federal Reserve Chairman Ben Bernanke on the economic outlook and monetary policy.

Gold rose back towards yesterday's 3-week peaks in London on Wednesday, pushing higher against all major currencies as world stock markets slipped.

Though the official version, and most of the media, paints a rosy picture, the reality on the ground is vastly different, with people finding it ever harder to find jobs, according to many observers. Some even say the BLS unemployment figures are an eyewash.

Gold held close to the previous session's near three-week high in Europe on Wednesday, supported by an increased focus on inflation after China's second interest rate hike in six weeks.

Nissan Motor Co's <7201.T> quarterly profit fell 15 percent on a stronger yen and sliding Japanese demand, but the decline was the slimmest among local automakers and it lifted its outlook on growing overseas sales.

China's central bank is poised to raise benchmark interest rates twice more in the first half of 2011 for a total tightening of 50 basis points, before keeping them steady for the remainder of the year, a Reuters poll on Wednesday showed.

Nissan Motor Co's <7201.T> quarterly profit fell 15 percent on a stronger yen and sliding Japanese sales, but the decline was the slimmest among local automakers as a slew of new models helped Nissan beat the sector's growth in key markets.

World stocks fell from this week's 29-month high on Wednesday as China's interest rate rise prompted investors to book profits, while general optimism over global growth sent 10-year U.S. bond yields to nine-month highs.

Social networking site Facebook on Tuesday opened shop in Hong Kong to expand its presence in Asia notwithstanding its ban in mainland China.

Asian shares fell on Wednesday after China's latest interest rate rise, but government bond yields rose and the dollar and Swiss franc eased as investors bet Beijing's policy tightening would not derail hopes of a sustained economic recovery.

US top military officials on Tuesday unveiled the National Military Strategy, the first revision since 2004 and calls for redefining leadership in a changing world.

Facebook, the world's largest social-networking site, will open a sales office in Hong Kong, in a move to tap the region's booming Internet scene, local media reported on Wednesday.

Shares in Asian developed markets rose and the dollar and Swiss franc eased on Wednesday as investors bet that China's latest interest rate rise would not derail hopes of a sustained economic recovery.

Doctors hope to treat this year's severe flu epidemic in Hong Kong by harvesting antibodies from patients who have recovered, medical experts said on Tuesday.

Macau gaming magnate Stanley Ho is set to take fresh legal action against family members, his lawyer said on Tuesday, in the latest U-turn in a dynastic tussle for control over one of Asia's largest fortunes.

China used its regulatory powers to scour the books of Citibank Shanghai in a hostile and extraordinarily intrusive 2007 audit that appeared primarily aimed at controlling Citi's growth and uncovering its secrets to success, the bank's top China executive at the time told U.S. officials.

A “severe winter drought” in China threatens to put wheat production at risk, stated a special alert from the Food and Agriculture Organization of the United Nations.