OIL prices plummeted to $29 a barrel on Friday on the likely resumption soon of Iranian oil exports into an already flooded market as international sanctions against Iran are lifted, dragging equity indices around the world sharply lower.

China's gross domestic product (GDP) totalled more than $10 trillion in 2015 and the economy grew by around 7 percent, with the services sector accounting for half of GDP, Premier Li Keqiang said on Saturday.

Spanish telecommunications company Telefonica SA has expressed interest in buying AT&T Inc's pay TV assets in Latin America, which could be valued at around $10 billion, according to people familiar with the matter.

Earnings from US banking giants Citigroup and Wells Fargo showed an increased drag from the oil rout that investors fear will worsen.

FOREIGN investment in Thailand plummeted last year, official data showed, the latest sign that the kingdom's once-vibrant economy continues to falter under prolonged military rule.

SLUMPING prices saved China more than $160 billion on its imports of commodities such as oil, iron ore, coal and copper last year, official figures showed on Wednesday.

A year on from "Frankenschock", when Switzerland's central bank sent global foreign exchange markets into a frenzy by abruptly ending its cap on the Swiss franc, the currency is one of the most stable in the world.

MetLife Inc, the largest US life insurer, plans to separate a substantial portion of its US retail business from the core company, saying on Tuesday that the "regulatory environment" helped drive its decision.

Stock markets in Europe and Asia rose and oil prices jumped on Wednesday after Chinese trade data cooled concerns over the world's second biggest economy, steadying money and currency markets in Shanghai and Hong Kong.

Farmers in India's top sugar growing state of Maharashtra are being forced to replace cane with less water intensive crops, as a scorching drought drives authorities to hold back water from dams.

Russia will cut its spending by 10 percent this year, the finance minister said Wednesday, as prices for Moscow's key export commodity slumped to new lows.

Beneath the hoods of the cars showing in Detroit this week lie engines that are as powerful as ever, but are smaller and, helped by direct injection, guzzle less gas.

The "alarming" outlook for emerging countries hit by collapsing oil prices is more worrying than China's economic slowdown, ratings agency Standard & Poor's said Wednesday.

Workers at an Italian factory were delighted by an unexpected Christmas bonus, receiving cheques for thousands of euros bequeathed to them by their late boss who died in June, reports said Saturday.

General Motors will be placing a big bet the American public is willing to drive a car built in China when it unveils the Buick Envision on Sunday night.

Supermarket chain Asda has predicted another year of "intense pressure" for the struggling sector as the global economy remains "turbulent".

The European Union will take the first step on Wednesday towards refashioning its trade ties with Beijing, torn over how to lower its defences to avert Chinese retaliation while protecting key industries against a damaging flood of cheap imports.

Japan pressed Singapore to ease its ban on Fukushima food imports, following the European Union's move to relax restrictions on imports from the area, according to media reports on Sunday.

German carmaker Volkswagen has posted its first drop in VW brand sales in 11 years as the company continues to cope with its emissions scandal.

Saudi Arabia is expected to save $7 billion a year after it introduced unprecedented energy price rises in a bid to offset the low cost of oil, a report said on Wednesday.