WORLD FINANCE UPDATE:
The Australian dollar is higher despite better-than-expected economic growth figures out of the US.
At 0630 AEDT on Monday, the local currency was trading at 78.16 US cents, up from 78.03 cents on Friday.
And the Australian share market looks set to open flat after Wall Street fell modestly following a new estimate of fourth-quarter US economic growth that came in better than expected.
At 0645 AEDT on Monday, the share price index futures contract was up four points at 5,918.
ELSEWHERE:
BEIJING - China's manufacturing activity contracted for the second straight month in February.
BEIJING - China's central bank has announced that it will cut the benchmark deposit and loan interest rates by 25 basis points.
NEW DELHI - India's finance minister pledged major investment in infrastructure on Saturday, saying it was time for the economy to "fly", as he unveiled the new right-wing government's first full budget.
WASHINGTON - The New York state financial regulator has subpoenaed three major European banks and a US peer in a probe of foreign-exchange rigging.
BAGHDAD - Iraqi Oil Minister Adel Abdel Mahdi says he expects the price of crude oil, which dropped to a six-year low in January, to continue recovering to reach $US64 ($A82.12) or $US65 per barrel.
KUALA LUMPUR - Malaysian state-owned energy firm Petronas has suffered a 7.27 billion ringgit ($2.57 billion) loss in the final quarter of 2014 due to lower oil prices, the company says.
ATHENS - Greece's prime minister says the country won't seek a third bailout deal, having succeeded in separating the loan agreement from the "disastrous" austerity conditions imposed with the willing cooperation of previous governments.
BERLIN - German Finance Minister Wolfgang Schaeuble says Greece's new hard-left government needs "a bit of time" but is committed to implementing necessary reforms to resolve its debt crisis.
COLOMBO - Sri Lanka's new president has cancelled mining licences issued by the previous government to 16 foreign companies to search for blue sapphires and other gems.
MUNICH - German carmaker BMW has announced it will take on a record 8,000 new workers worldwide in light of its continuing commercial success in 2015.
FRANKFURT - Volkswagen, Europe's biggest car maker, says it notched up record sales and earnings in 2014 but remains cautious for 2015 in face of the emerging market weakness and currency fluctuations.
STOCKHOLM - Global furniture giant Ikea has announced the launch of desks, tables and lamps that will wirelessly charge phones and other devices.
LOS ANGELES - Australia needs you Miranda Kerr, Elle Macpherson, Jessica Gomes and Robyn Lawley.
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