DETROIT (Michigan) - A NEW General Motors emerged from bankruptcy on Friday under a government-backed plan to rescue the troubled US auto giant, the company announced.

The automaker transferred its main assets to a new government-supported car company, under a plan financed by the administration of President Barack Obama and the Canadian government.

LONDON - GLOBAL oil demand will bounce back by 1.7 per cent, or 1.4 million barrels per day (bpd), year-on-year in 2010, led by rising consumption in emerging economies, the International Energy Agency said on Friday.

Making its first 2010 forecast in a monthly report, the adviser to 28 industrialised countries predicted oil demand next year would reach 85.2 million bpd next year, from 83.8 million bpd this year.

HONG KONG - ASIAN stocks continued to sag on Friday, sending Tokyo's index to its eighth straight loss, as uncertainty about company earnings weighed on expectations of a faster turnaround in the world economy. European markets opened lower.

The back-and-forth trade in Asia wrapped up a lackluster week that saw the region's major benchmarks pull back amid concerns the recent rally had overestimated the speed and scale of any rebound in global growth. Oil prices fell below US$60 (S$87) a barrel.