As an emerging center of world power, Asia must take the lead in finding solutions to crises such as the surge in fuel and food prices because global institutions such as World Trade Organization are proving to be impotent, business leaders said Sunday.

The economy ground to a halt between April and June ending 16 solid years of growth, according to the latest official figures. Growth in the second quarter was unchanged compared to the start of 2008.

(AP:TOKYO) Japanese stocks sank Monday on growing worries about a global economic slump despite the passage of a U.S. financial bailout package. The benchmark Nikkei 225 index lost 393.81 points, or 3.60 percent, to end the morning session at 10,544.33.

A few weeks ago, CNBC recognized Texas as “America’s Top State for Business,” citing our abundance of natural resources, diverse population and geography to create a “dynamic economy.”

Qualcomm Incorporated , a leading provider of business-to-business wireless enterprise applications and services, today announced that on July 29, 2008, Dr. Paul E. Jacobs, CEO of Qualcomm, will kick off the fourth annual Smart Services Leadership Summit,