Japanese inflation hit a five-year high last month, although Friday's data showed the rise was driven by soaring energy costs, indicating the government's plan to boost consumer demand was still to gain traction.

The consumer price index, which measures a basket of everyday goods but excludes the volatile cost of fresh food, was up 0.8 percent from a year earlier, according to the internal affairs ministry.

Oil prices eased in Asian trade Friday after the United States and Russia agreed a draft U.N. Security Council resolution on destroying Syria's chemical arms, analysts said.

New York's main contract, West Texas Intermediate for delivery in November, dipped 32 cents to $102.71 in afternoon trade, while Brent North Sea crude for November was down 13 cents at $109.08.

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Pressure is building on fractious Republicans in Congress over legislation to prevent a partial U.S. government shutdown, as the Democratic-led Senate is expected to strip a tea party-backed plan to defund President Barack Obama's health care reforms from the bill.

As the Senate telegraphed its moves, House Republicans deliberated an array of imperfect options on both a temporary spending bill required to avert a shutdown and a separate measure to permit the government to borrow almost $1 trillion to keep paying its bills.

U.S. banking giant Citigroup Wednesday announced an agreement to pay Freddie Mac $395 million to settle claims of potential flaws in millions of mortgages it sold Freddie.

Wednesday's settlement covers potential future claims on 3.7 million loans sold to the quasi-public Freddie between 2000 and 2012, a period that includes the housing boom. Freddie has contended that Citi and other banks sold it loans that did not meet key standards.

Spain will stick to its path of austerity in 2014 with the government due to approve its draft budget for the year on Friday, subjecting pensioners and public workers to more cutbacks despite a slowly improving economy.

A new pay freeze for civil servants and a pension reform which will stop indexing payouts to inflation are among the measures which Prime Minister Mariano Rajoy's conservative government is expected to adopt.

Oil prices edged lower in Asian trade Thursday after an unexpected surge in U.S. crude stockpiles and fresh signs of warming relations between the West and crude producer Iran, analysts said.

New York's main contract, West Texas Intermediate for delivery in November, was down 36 cents at $102.30 in mid-morning trade, while Brent North Sea crude for November eased 24 cents to $108.08.

The European economic recovery is breathing life into what has long been a moribund market for initial public offerings, according to consultancy firm Ernst & Young.

In its quarterly update, published Wednesday, Ernst & Young said it expects Europe to see more mid-sized and large companies deciding to list their shares on stock exchanges, particularly in the more mature economies of the U.K. and Germany.

Italy's parliament on Wednesday ratified the U.N.'s Arms Trade Treaty, which is intended to stop arms supplies to countries at war or that abuse human rights.

The treaty was adopted by the United Nations in April to regulate the $80 billion (59 billion euros) annual trade in conventional arms and stop supplies to states where they could be used for human rights abuses.

Oil-rich United Arab Emirates on Wednesday announced giving $100 million to Morocco in "financial support" to build solar and wind power farms, WAM state news agency said.

The aid is aimed at supporting economic and social development, and supporting the drive to use clean and renewable energy, it said.