Asian imports of Iranian oil fell to the lowest level in two years in October, as Iran's biggest crude buyers held off from increasing purchases following a landmark agreement on Tehran's disputed nuclear programme in July.

FACED with heavy losses from low oil prices, Gulf states have embarked on belt-tightening measures to cut spending and boost non-crude revenues, but analysts warn much more needs to be done.

The World Bank announced Tuesday a plan to help Africa weather climate shocks that requires $16.1 billion in financing through 2020.

Singapore's economic growth will dip to "close to 2.0 percent" this year after the city-state avoided a technical recession, the government said Wednesday, with a potential further slowdown seen in 2016.

India would reject a deal to combat climate change that includes a pledge for the world to wean itself off fossil fuels this century, a senior official said, underlying the difficulties countries face in agreeing how to slow global warming.

Rating agency Standard and Poor's said on Wednesday it had cut its credit rating outlook for Internet giant Yahoo, saying revenue growth was likely to be low.

Americans remained wary consumers in October as spending rose at the slowest pace this year for the second straight month, Commerce Department data showed Wednesday.

Asian stock markets retreated Wednesday, with airlines taking a hit as dealers fret over increased geopolitical tensions following the downing of a Russian jet by Turkey.

Britain took the axe to spending Wednesday, fleshing out plans to slash welfare and eliminate the deficit, but dropped a controversial plan to cut tax credits for the poorest.

An Australia-led consortium of investment funds from Canada and the Middle East won the bid for electricity transmission network TransGrid Wednesday, beating a Chinese challenger in a deal worth Aus$10 billion (US$7.3 billion).

European Commission President Jean-Claude Juncker said on Wednesday Europe's single currency will be jeopardised if its Schengen passport-free travel zone unravels due to member states reimposing border controls to keep out refugees.

EUROPEAN financial markets are increasingly vulnerable to turmoil in large emerging economies, the European Central Bank warned in a report Wednesday

LAFARGEHOLCIM said Wednesday its profits collapsed as the cost of building the world's biggest cement company took its toll.

THE number of regional Federal Reserve banks pushing for a hike in what commercial banks are charged for emergency loans rose to

CHINA'S biggest brokerage, Citic Securities, overstated its derivative business by $166 billion (£110 billion) from April to September, according to the country's securities association.

OPEC is determined to keep pumping oil vigorously despite the resulting financial strain even on the policy's chief architect, Saudi Arabia, alarming weaker members who fear prices may slump further towards $20.

French private-sector business growth slowed in November, according to a survey published Monday, with some business leaders blaming the Paris attacks.

China will accelerate reforms to remove internal barriers to both foreign and domestic trade, the country's cabinet said on Monday, a move designed to bolster domestic consumption in its slowing economy.

Japan's government plans to raise the minimum wage and introduce other steps to revitalise the economy, but the draft of stimulus measures seen by Reuters on Monday appeared to break no new ground on reforms that analysts say are needed to end decades of stagnation.

EUROZONE business activity hit a four-and-a-half year high in November, helping create much-needed jobs in a broad-based upturn despite the impact on France of the Paris attacks, a key survey showed Monday.