Irish low-cost airline Ryanair on Tuesday announced that it has ordered 175 Boeing 737-800 airplanes worth $15.6 billion (12.1 billion euros) at catalogue prices.

"Ryanair ... today signed an agreement with the Boeing Company to purchase 175 new Next Generation 737-800 airplanes," the Dublin-based carrier said in a statement.

The Cyprus Stock Exchange said it had suspended trading for Tuesday and Wednesday due to the closure for the same period of banks amid fears of a run on accounts following a harsh EU bailout deal.

"We decided to suspend the trading of securities listed on the stock exchange for the purpose of ensuring the proper functioning of the stock market and to protect investors," the exchange said in a statement.

Investors who placed their money in Cyprus in order to pay less tax should shoulder the risks when it comes to a bailout, German Finance Minister Wolfgang Schaeuble said on Tuesday.

"Whoever invests their money in a country where they pay less tax, and perhaps where there is less supervision, shoulders the risk when that country's banks are no longer solvent. That's a fact," Schaeuble said in an interview on German public radio Deutschlandfunk.

The OECD trimmed its growth forecast for France on Tuesday but recommended the government avoid more spending cuts to meet it EU deficit reduction pledges.

The Organization for Economic Cooperation and Development said it now expects the French economy to grow by 0.1 percent this year, instead of the 0.3 percent it forecast earlier.

U.N. leader Ban Ki-moon led international appeals Monday for the major powers to reach a compromise on a landmark conventional arms trade treaty as final negotiations started.

The 193 U.N. members have until March 28 to conclude an accord on the $80 billion a year trade in small arms, tanks, warships, combat aircraft, ammunition and missile launchers.

Germany, Europe's biggest economy, has gotten off to a somewhat shaky start to 2013, but that will not jeopardize its expected recovery later this year, the Bundesbank said on Monday.

"The hesitant start to 2013 has not placed a question-mark over the anticipated rebound in economic activity," the German central bank wrote in its March monthly report.

Cypriot President Nicos Anastasiades will on Monday attempt to persuade lawmakers to back an EU bailout deal that slaps a levy on bank savings, amid fears of a run on accounts if he fails.

Anastasiades, in an address to the shell-shocked nation on Sunday night, said that rejecting the EU demands would have seen Cyprus exit the eurozone and face bankruptcy.

Australia's second-largest city Melbourne could possibly have the tallest building in the southern hemisphere after approval Monday for a new 388-meter (1,280 foot) apartment and hotel complex.

The Victorian state government said Australia 108 would become the world's 19th tallest building on completion and would be "an outstanding addition to Melbourne's skyline".

The United States is taking aim at "excessive" business class air travel by U.N. staff as it presses a campaign to restrain the global body's multi-billion dollar budget.

Complaints by the United States and other cash-strapped western nations have been bolstered by revelations that nearly three quarters of the money spent on air fares at U.N. headquarters goes on business class.

Qatar is considering an £8 billion ($12.1 billion, 9.2 billion euro) bid for British retailer Marks & Spencer, Britain's Sunday Times newspaper reported.

The Gulf state's sovereign wealth fund, the Qatar Investment Authority, has approached leading banks and private equity houses ahead of a potential move on the high street chain, senior sources in London's financial industry told the broadsheet.