IBT Staff Reporter

China's central government will run a smaller fiscal deficit in 2012, according to a report by local media.

Hollywood leading man Matthew McConaughey has proposed to his longtime girlfriend and the mother of their two children, model Camila Alves, the actor said in a posting on celebrity website Whosay.com

Japan and India are in the final stages of deciding on a dollar swap agreement and expect to reach agreement during Japanese Prime Minister Yoshihiko Noda's visit to India this week, Japan's finance minister said on Tuesday.

China's listed banks are expected to raise over 100 billion yuan ($15.78 billion) through equity financing next year as they face pressure to replenish capital due to rapid loan growth and tighter regulation, the China Securities Journal reported on Tuesday.

A panel reviewing auditing at Olympus Corp <7733.T> said it had so far found no violations of accounting guidelines in the handoff to the Japanese arm of Ernst & Young from another auditor, which drew questions from a previous panel looking into a $1.7 billion accounting scandal.

Toronto Maple Leafs Ron Wilson received the Christmas present he had been hoping for when the National Hockey League club confirmed they had signed the head coach to a contract extension.

A panel reviewing auditing processes at scandal-hit Olympus Corp <7733.T> said on Tuesday it found no violation of accounting guidelines in the handoff to the Japanese arm of Ernst & Young from the previous auditor in 2009.

Bollywood struck gold in 2011, revving up lacklustre box offices in India with help from its leading men who wooed audiences back to cinemas after a dismal 2010.

Above the ballooning dress of Marilyn Monroe is the face of the late North Korean despot Kim Jong-il. A pigeon flies overhead and a feather lies nearby on the ground.

Asian shares were steady on Tuesday in thin volume as investors took to the sidelines before U.S. markets reopen later in the day from a long weekend and data which could offer clues over growth prospects in the world's largest economy.

Mission: Impossible - Ghost Protocol easily beat its rivals in the race to No. 1 at box offices over the Christmas holiday weekend, returning action star Tom Cruise to winning form after several recent flops.

Unions representing the flight attendants of Southwest Airlines and AirTran Airways on Monday reached an agreement to work under one common contract once members ratify the terms, according to a joint statement by the attendants' respective unions.

Veteran rockers Van Halen unveiled plans on Monday for a tour with original lead singer David Lee Roth returning to the stage.

Shoppers found a mixed bag of bargains and so-so deals on Monday, as a day off for many Americans lured some out for what was likely to be the third-busiest shopping day of the holiday season.

Japanese and Indian stocks outperformed the rest of Asia in thin trade on Monday, with sentiment partly lifted by signs of U.S. economic recovery, although trading was subdued with many markets closed for Christmas holidays.

Agricultural bankers and other players in the world's grain markets say fallout from the collapse of giant broker MF Global is changing cash grain trading and fueling calls for alternatives and reforms.

Retailers were bracing for a busy day on Monday, as a day off for many Americans and warm, dry weather were expected to entice shoppers looking for deep discounts.

Interested in sharing more personal moments of life to a small group of friends rather than a large network? An app called Path could help.

Japan's Fujifilm Holdings is watching developments at scandal-ridden Olympus Corp but it is too early to say if it will invest in the rival endoscope maker, a senior executive told Reuters in an interview on Monday.

The sign in a boutique selling glass hand-crafted on the Venetian island of Murano betrays an uncertain grasp of English. But the owner is very sure who is to blame for the tough times confronting the 700-year-old local glassmaking industry.

Europe should boost the total firepower of its rescue fund and frontload its funding to send a positive signal to investors and international partners that it is determined to solve its debt crisis, Japanese officials said on Monday.

China's industrial output is expected to grow 11 percent for 2012, easing from an estimated 13.9 percent in 2011, China's industry minister said on Monday.

The yuan closed up against the dollar on Monday after hitting an all-time high in intraday trading, guided by a stronger mid-point by the People's Bank of China, and looks set for an over-4-percent appreciation for 2011, traders said.

China has arrested former executives at two brokerages on charges of insider trading, the securities watchdog said, as part of a crackdown on market malpractice that the new head of the agency has said will be one of his top priorities.

The Obama administration cleared the way for U.S. states to legalize Internet poker and certain other online betting in a switch that may help them reap billions in tax revenue and spur web-based gambling.

Sony Corp has agreed to sell its nearly 50 percent stake in an LCD joint venture with Samsung Electronics to the South Korean company for $940 million, as it struggles to reduce huge losses at its TV business.

China launched a super-rapid test train over the weekend which is capable of travelling 500 kilometers per hour, state media said on Monday, as the country moves ahead with its railway ambitions despite serious problems on its high-speed network.

Sony Corp has agreed to end its LCD joint venture with Samsung Electronics and will sell its stake to the South Korean company, a source familiar with the matter said on Monday.

Sony Corp has agreed to sell its nearly 50 percent stake in an LCD joint venture with Samsung Electronics to Samsung for $940 million, the Korean firm said on Monday, as Sony struggles to staunch red ink at its TV business.