The Philippines is perceived by foreign businessmen as Asia’s most corrupt economy, according to a survey Tuesday that also found countries were failing properly to tackle corruption.

Temasek offers $1.6 billion for STATS ChipPAC 
Temasek Holdings, the investment arm of the Singapore government, is offering up to $1.6 billion for local packaging house STATS ChipPAC a bid that analysts said may undervalue the once-troubled firm.

China to create agency for its foreign reserves / Country’s huge total now more than $1 trillion 
China will create a new agency to invest the country’s immense reserves of foreign currency, now totaling more than $1 trillion, the country’s finance minister said Friday. The minister, Jin Renqing, offered no specifics about how much of China’s…

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