Pakistan and China signed an agreement on Friday to develop a new satellite, PAKSAT-1R, in about three years period, Pakistan's Economic Affairs Division (EAD) said in a press release. According to the framework agreement signed by EAD Secretary Farrakh Qayyum and Chinese Ambassador to Pakistan Luo Zhaohui, China will fund the satellite project with a soft loan of 1.35 billion RMB (about 200 million U.S. dollars) carrying maturity period of 20 years. (Pakistan-China-Satellite) YANGON -- The Myanmar government Friday started releasing prisoners in batches from jails across the country under Thursday' s amnesty order to free 7,114 prisoners. Among the first batch of prisoners released from the Insein Jail in Yangon are two former journalists and some activists, eyewitnesses said. (Myanmar-Amnesty) SINGAPORE -- Singapore and Australia navies kicked off on Friday a joint maritime exercise. According to Singapore's Ministry of Defense, the Exercise Singaroo is held from Sept. 18 to 25 in the South China Sea, where both navies will conduct a range of maritime operations, such as maritime surveillance, air defense and anti- submarine warfare. ( Singapore-Australia-Maritime Exercise) TOKYO -- Japan's new government made a decision Friday to evaluate all expenditure in the current fiscal year's supplementary budget -- a budget compiled by the Democratic Party of Japan's (DPJ) predecessors. Prime Minister Yukio Hatoyama ordered his cabinet to search for government- sponsored projects that could be considered 'wasteful' and has called on his ministers to report their findings by Oct. 2. (Japan-Supplementary Budget- Review) ISLAMABAD -- Pakistan has once again asked the Indian government to share any credible information that they may have on alleged plans of terrorist attacks against India, according to a statement by the Foreign Ministry of Pakistan. The request has been reiterated in view of the recent reports carried by Indian media, said the statement. (Pakistan-India- Terrorism) 