Finance Minister Bill English has confirmed the government will need to spend $1.5bn upgrading state houses as they are sold to social housing providers. (Radio New Zealand News)

 

 

A spike in government payments has shattered Tony Abbott’s hope of slashing outlays within a year as he prepares to reveal new spending on families to lift his political fortunes. (The Australian)

 

 

South Korea faces key self-imposed deadlines in the coming weeks in untangling the labour market, government workers' pension plan as well as laws waiting to be passed at the parliament, and policymakers stress that the outcome will determine the future course of the national economy. (Yonhap News Agency)

 

 

India raised a record $17.6bn from the sale of mobile phone airwaves in its latest telecom spectrum auction after 19 days of fierce bidding, telecoms minister Ravi Shankar Prasad said on Wednesday. (Reuters)

 

 

Vietnam’s growth held above 6% in the first quarter as manufacturing supported an economy that’s still grappling with an overhang of bad debt. (Bloomberg)

 

 

The Asian Development Bank stands ready to help Malaysia address remaining challenges to ensure sustainable growth including taking advantage of ASEAN’s ongoing integration, says its president Takehiko Nakao. (bernama.com)