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• Australia Surprises With September Election Call

  

  Australian Prime Minister Julia Gillard stunned voters on Wednesday by calling an election for September 14, eight months away, in her first major political speech for 2013.

• India's Rate Cut Has Got Consumers Excited

  

  The long-awaited rate cut comes as a relief for the nation's consumers, who have been hoping for cheaper financing in their next property or car purchase.

• Australian Iron Ore Port to Reopen as Storm Passes

  

  Australia's Port Hedland, which handles about a fifth of the world's seaborne-traded iron ore, will reopen on Wednesday after being spared the brunt of a cyclone that has also shut other major ports in Western Australia.

• China Averts Local Government Defaults

  

  Chinese banks have rolled over at least three-quarters of all loans to local governments that were due to mature by the end of 2012, an indication of the immense challenge facing China in working down its debt load. The Financial Times reports.

• Australia Inflation Surprisingly Tame in Q4

  

  Australian consumer price inflation was unexpectedly benign last quarter thanks to falls in food, electronics and drugs, suggesting there was still plenty of scope for further rate cuts even if there was no urgency for a move as early as next month.

• Jaguar to Assemble XF Luxury Sedans in India's Pune Facility

  

  Jaguar Land Rover, a subsidiary of India's Tata Motors, announced Tuesday it will manufacture Jaguar brand cars in India. The Global Post reports.

• BHP Digs Deeper for More Ore to Feed China Steel Mills

  

  BHP Billiton, the world's biggest mining company, boosted its iron ore output by 3 percent in the December quarter, as it races to supply more of the raw material to Chinese steelmakers despite signs of a softening market.

• China's Spin Doctors Have a New Tool — Combat Video Games

  

  'Glorious Mission' is an online combat game designed to impart 'the core values' of the military to Chinese players. The Global Post reports.

• North Korea Says Will Boost Nuclear Deterrent After UN Rebuke

  

  The U.N. Security Council on Tuesday unanimously condemned North Korea's December rocket launch and expanded existing U.N. sanctions, eliciting a vow from Pyongyang to boost the North's military and nuclear capabilities.

• Major Chinese Banks Slash Profit Targets for 2013

  

  Four of the five state-owned banks have reduced their expectation for this year's profit growth, as banking reform continues and regulators keep a firm grip on credit supplies. CaiXin Online reports.

• Former Thai Prime Minister Refutes Murder Charge

  

  Former Thai Prime Minister Abhisit Vejjajiva, who is facing charges over civilian causalities during a military crackdown on anti-government protesters in 2010, said the allegations are "politically motivated," adding he will fight to defend his innocence.

• Asia's Junk Bond Rally Near Exhaustion

  

  Yield-chasing investors, whose hunger for income powered a long rally in Asian junk-rated bonds, are finally feeling the first symptoms of indigestion after a year-long binge.

• World's Most Expensive City to Rent Is...

  

  Asia's financial capital Hong Kong retained its top spot as the world's most expensive city to rent a high-end apartment as robust demand on the island, a popular destination for employees looking to relocate overseas, and constrained supply, kept prices elevated.

• Hong Kong Property Curbs Have Some 'Unintended' Victims

  

  Hong Kong residents Chris Lane and his wife, Karen are planning to have a second child – but find themselves hampered by the city's housing policy.

• Xi Jinping: No Reformer After All

  

  In China, the possibility of political reform and nationalization of the military under the new generation of leaders seems remote. Over the weekend, Beijing-based journalist Gao Yu published an analysis of a leaked speech given by President Xi Jinping during his southern tour last month that appears to throw cold water on hopes for reform. The Global Post reports.

• G20 Unlikely to Pressure Japan Over Weakening Yen

  

  The world's top economic policymakers are likely to discuss how Japan's new monetary and fiscal policy drive is weakening the yen when they meet next month, but will stop well short of calling it a competitive devaluation, G20 officials said.

• Singapore Traders May Have Manipulated Forex Rates

  

  Bank probes find manipulation in Singapore's offshore FX market - source Internal reviews by banks in Singapore have found evidence that traders colluded to manipulate rates in the offshore foreign exchange market, according to a source with knowledge of the inquiries.

• Miners Will Prolong Australia Economy's 21-Year Party

  

  For all the doomsayers predicting an end to its mining boom, Australia is pumping out more metal, coal and gas thanks to a investment bonanza that will peak this year, boosting exports needed to extend a jaw-dropping 21-year run of economic growth.

• Japan Leader Urges Swift Action From Central Bank

  

  Japanese Prime Minister Shinzo Abe, vowing to overcome what he called an economic crisis facing the nation, urged the Bank of Japan (BOJ) on Monday to hit its inflation target as soon as possible, keeping up pressure on the central bank to make good its promise of bolder action to overcome deflation.

• iPhone Fatigue Sets In for Asia's Trend-Setting Cities

  

  Apple iconic iPhone is losing some of its luster among Asia's well-heeled consumers in Singapore and Hong Kong, a victim of changing mobile habits and its own runaway success.