Prime Minister David Cameron is seeking a British exemption from European Union employment laws as part of his push to gain more autonomy from Brussels, newspapers said Saturday.

The Conservative leader wants to restore opt-outs on EU legislation that were given up by Labor prime minister Tony Blair, who led the country from 1997-2007, both The Times and The Daily Telegraph reported, citing unnamed sources.

Fresh Greek bailout reform proposals were cheered by France and Italy on Friday, raising hopes that a last-ditch compromise could be reached with the country's creditors to prevent a dreaded "Grexit."

The plan delivered by Prime Minister Alexis Tsipras' administration for study by the EU, IMF and European Central Bank was to be put to a vote late Friday by Greek lawmakers.

The International Energy Agency forecast Friday that global oil demand growth would slow in 2016 and that oil production in nations outside the Organisation of the Petroleum Exporting Countries (OPEC) would stall.

In its first estimates for 2016, the IEA forecast that oil demand would slow next year to 1.2 million barrels per day, compared with an average of 1.4 million barrels per day this year.

Greek Prime Minister Alexis Tsipras will on Friday ask lawmakers to endorse his new plans to save the country from financial collapse, as eurozone officials pore over the latest bailout package ahead of crunch weekend talks. 

The last-ditch package, submitted two hours before a midnight Thursday deadline, offers a pensions overhaul and tax hikes in return for debt relief and a rescue loan from the eurozone similar to a proposal put forward by Greece's international paymasters before talks broke down last month.

Oil prices rose further in Asia Friday following recent sharp losses, lifted by a recovery in Chinese stocks as the government beefed up measures to support the market.

The rebound, which followed a 30 percent plunge in Chinese share prices, eased concerns of a wider fallout across the world's second biggest economy and top energy consumer, but analysts said it remained to be seen whether the rally will be sustained.

Kuwait's financial reserves defied a slump in oil prices to hit a record 179.2 billion dinars ($592 billion) at the end of the 2014-15 financial year, a report said Thursday.

They grew by $53 billion in the year to March 31, Al-Qabas newspaper reported, citing figures released by Finance Minister Anas al-Saleh to a closed session of parliament last week.

China's stock market rout has wiped more than $3 trillion from share valuations, generating terrifying headlines and fears over consumer confidence, but analysts say the impact on growth in the world's second-largest economy could be limited.

The decline in overall market capitalization represents a huge sum by any standard, and is equivalent to more than a third of the country's gross domestic product (GDP) last year.

International Monetary Fund Managing Director Christine Lagarde said Wednesday that a new program to prop up Greece's finances would require creditors to restructure debt.

In addition to the reforms Athens needs to undertake, she said, "the other leg is debt restructuring, which we believe is needed in the case of Greece for it to have debt sustainability."

Australian Trade Minister Andrew Robb Thursday said a massive Pacific trade pact could be concluded in the "next three to four weeks" when the 12 nations involved are due to meet.

Expectations that the Trans-Pacific Partnership (TPP), an accord that would encompass 40 percent of global trade, would be sealed this year increased after U.S. President Barack Obama was last month given fast-track authority by Congress to negotiate such deals.

Greek Prime Minister Alexis Tsipras vowed to present "credible" reform plans before a Thursday deadline set by exasperated European leaders, as Athens formally asked for a new bailout to avoid crashing out of the euro.

Despite mounting fears of a looming "Grexit" from the single currency, the French and Spanish premiers on Wednesday welcomed the latest "positive" developments, just days before a deal needs to be reached for Athens to avoid bankruptcy.