Japan manufacturing and employment showed slight improvements in March, buttressing hopes that the economy may be headed for a moderate recovery.

Factory output rose 0.2 percent, the Ministry of Economy, Trade and Industry said Tuesday, in the fourth straight monthly increase. It pointed to strength in chemicals, electrical components, telecommunications equipment and steam turbines.

The Cypriot parliament begins a debate Tuesday on a 10-billion-euro EU-IMF bailout which Finance Minister Haris Georgiades has described as a tough but necessary measure that has to be ratified without delay.

Speaking on the eve of the parliament meeting, Georgiades warned that without a positive vote on the bailout deal, the eastern Mediterranean island would be driven to full economic collapse and could be forced to exit the eurozone.

German consumer confidence remains robust, apparently shrugging off -- at least for now -- fears of a possible resurgence of the euro crisis, a poll found on Tuesday.

Political gridlock in Italy and the Cyprus crisis have not substantially soured sentiment in Europe's biggest economy so far, market research company GfK said in a statement.

China committed more than $75 billion to Africa in the past decade, coming close to the level of U.S. money although the nature of Beijing's support was far different, a study said Monday.

The database released by the Center for Global Development aims to be the most comprehensive account yet of foreign assistance by China, which has faced criticism in Western countries suspicious of Beijing's motives.

Italy's new Prime Minister Enrico Letta said Monday his coalition government would act fast to reverse an austerity policy he argued was killing Italy and called on Europe to become a motor for growth.

"Italy is dying from austerity alone. Growth policies cannot wait," Letta said during his inaugural speech to parliament, under the watchful gaze of European partners.

Eurozone divisions over the austerity policies championed by Germany deepened on Monday as Italy prepared to unveil a change of direction and France's ruling Socialist Party struggled to quell a revolt over the issue by its own lawmakers.

Critics of the tough belt-tightening that Germany and its allies have advocated as the answer to the single currency zone's debt crisis sense that the tide may be turning in their favor.

Business confidence dropped sharply in Italy this month, the national statistics agency said on Monday, with its closely-watched index falling to 74.6 points from 78.5 points in March.

The index showed that businesses in the manufacturing, construction, services and trade sectors were downbeat about the outlook in April, after a two-month political stalemate which thwarted attempts to revive growth in the recession-hit country.

The Greek parliament voted late Sunday to adopt a law providing for the dismissal of 15,000 civil servants as part of austerity measures imposed by the country's international creditors.

After heated debate during an emergency session, 168 deputies voted for the bill, with 123 voting against and one abstaining as the opposition proved powerless to stop cuts the government insisted were needed to keep the country afloat.

Australian Prime Minister Julia Gillard on Monday warned voters to brace for an austere election-year budget, unveiling a Aus$12 billion (US$12.4 billion) slump in revenues due to the strong dollar.

Gillard, who is tipped to lose her bid for a third Labor government term in September, said the "unusually low revenue, which wasn't forecast even a few months ago" would require serious belt-tightening.

Austria hopes to reach a deal with the European Union next month that would preserve banking secrecy for Austrians but open accounts held by foreigners to scrutiny, Chancellor Werner Faymann said Saturday.

Faymann told public Radio Oe1 that the May 22 EU summit "should signal a fresh start... We want to reach a result on the issue of data sharing in the interest of the fight against fraud in Europe."