A closely watched index of German business optimism rose more than expected in August, underlining improving growth prospects for the struggling euro area. The Ifo index released on Tuesday rose to 107.5 from 106.2 in July. Market analysts had expected 107.0. The increase in the index ? the fourth monthly rise in a row ? is a further sign of Germany?s improving economy, which expanded a robust 0.7% in the second quarter from the previous quarter and helped pull the 17-country currency union out of 18 months of recession. The euro zone expanded 0.3% from the quarter before. However, economists say stronger growth is needed across the euro zone to reduce the region?s record unemployment rate of 12.1% and cut the heavy debt burdens afflicting governments such as Greece, Spain and Italy.

China to hold key reform meeting in Nov: Xinhua

China?s Communist Party leaders will hold a key meeting in November to discuss deepening reforms, the official Xinhua news agency said on Tuesday. ?The decision to hold the third Plenary Session of the 18th CPC Central Committee in November was made at Tuesday?s meeting of the CPC Central Committee?s political bureau,? Xinhua said. The third plenum will likely set the country?s economic agenda for the next decade, though political reform is not expected to be a major talking point. Historically, third plenums have been a springboard for key changes in China. One such session, in the 1990s, spawned sweeping economic reforms introduced by then-Premier Zhu Rongji.

Honda Motor recalls over 400,000 vehicles in China

The Chinese venture of Japanese automaker Honda Motor will recall more than 400,000 vehicles in China due to piston rod defects, China?s quality watchdog said on Friday. Over the past month, foreign carmakers, including BMW, Suzuki Motor and Tata Motors?s Jaguar Land Rover, have all made announcements to recall products in China. Dongfeng Honda Automobile will recall a total of 408,069 CR-V sport utility vehicles (SUVs) produced between March 2, 2010, and August 30, 2012, due to a possible fracture in piston rods for shock absorbers, China?s General Administration of Quality Supervision, Inspection and Quarantine said in a statement on its website.

Japan?s ANA to buy 49% in Myanmar carrier AWA

The parent company of Japan?s All Nippon Airways says it plans to buy a 49% stake in Myanmar?s Asian Wings Airways, the first foreign investment in the country?s airline industry. ANA Holdings said on Tuesday it will invest $25 million in AWA as part of its strategy for international expansion. Japanese companies are eager to tap opportunities in Myanmar as the long-isolated country opens to foreign investment. AWA operates domestic routes in Myanmar and is profitable. ANA said the airline, founded in 2011, plans to begin operating on international routes from October. ANA says it plans further expansion in fast-growing Asian markets. Beginning September 30, the airline will begin operating daily flights between Tokyo and the Myanmar capital, Yangon.

Australian press body chides Murdoch media

Australia?s newspaper regulator on Tuesday weighed in on a row over bias by Rupert Murdoch?s newspapers in the country?s election campaign, telling editors to provide an accurate account of public issues. The Australian arm of Murdoch?s News Corp is the country?s dominant newspaper publisher and is responsible for around 70% of big city newspaper sales. Prime Minister Kevin Rudd has accused Murdoch?s Australian newspapers of bias and of campaigning for a change of government at the September 7 elections, while Murdoch has also used social media to press the demand.