Beijing / AFP China’s economic recovery stabilised in April, an official factory activity gauge showed on Sunday, as the property market recovered and credit grew. The Purchasing Manager’s Index (PMI), tracking activity in factories and workshops, rose for the second successive month, the National Bureau of Statistics said. The figure was 50.1 compared to 50.2 in March. But any …

  TOKYO / AFP Japan’s finance minister said the recent sharp rise in the yen is “extremely worrying”, adding Tokyo will take action when necessary. The remarks, which suggest Tokyo’s possible market intervention, came after the Japanese unit surged to an 18-month high against the dollar in New York Friday. It extended the previous day’s rally, which was boosted by …

  Mumbai / Bloomberg Vodafone Group Plc has chosen banks to arrange a listing of its India business, which could raise as much as $3 billion and become the nation’s largest initial public offering, reports said. The Newbury, England-based company picked Bank of America Corp., Kotak Mahindra Bank Ltd. and UBS Group AG to lead the offering, which could take …