Hike yuan flexibility

SHANGHAI: China should increase the flexibility of its currency, a state think tank said, arguing a stronger yuan would be in the nation’s interest. “China should further increase the flexibility of yuan’s exchange rate and appropriately widen the yuan trading band in 2008,” the State Information Centre said. — AFP

SKorea growth slower

SEOUL: South Korea’s economy grew at a slower pace in the third quarter than expected after expanding at its fastest clip in three and a half years in the second quarter. GDP grew by 1.3 per cent in the third quarter from the previous quarter compared to the initial estimate of 1.4 per cent. — AFP