Budget airline Ryanair wants to take on Lufthansa in Germany, its chief executive said in a newspaper interview Wednesday and predicted the German airline would fail in its bid to build a low cost business.

"We currently have market share of around 4.0 percent in Germany. In the next three to four years, we're aiming to increase it to 15-20 percent," Michael O'Leary told the business daily Handelsblatt.

The euro edged up from a nine-year low against the dollar on Wednesday in Asia, but it remained under pressure owing to fears of a possible Greek exit from the eurozone.

The single currency fell to $1.1839 in early Tokyo trade -- its lowest level since February 2006 -- before recovering to $1.1875. It ended at $1.1892 in New York on Tuesday.

Oil prices slid Tuesday to the lowest points for more than five and a half years, plagued once again by a global supply glut, demand fears and the soaring dollar.

U.S. benchmark West Texas Intermediate for February tanked to $48.49 a barrel, touching a low last witnessed in late April 2009.

Stock markets in the energy-rich Gulf states nosedived on Tuesday as oil prices slumped and global markets were dragged down by a gloomy outlook for crude. 

U.S. benchmark West Texas Intermediate for February delivery dropped below the $50 a barrel mark for the first time in more than five and a half years while Brent crude was hovering around $52 a barrel. 

French and German borrowing rates reached new all-time lows on Tuesday amid fears over the prospect of Greece leaving the eurozone.

As of 0830 GMT, France's 10-year debt hit 0.772 percent on the secondary market, while the German 10-year Bund fell to 0.484 percent.

South Korea's Hyundai announced Tuesday it plans to invest 80.7 trillion won ($73 billion) by 2018 in bolstering overseas production and developing next-generation cars.

The auto giant said it would over the next four years invest 49.1 trillion won on expanding corporate infrastructure and an additional 31.6 trillion won on research and development.

French President Francois Hollande shifted position Monday on implementing a long-sought financial transactions tax in Europe and said the money should go towards projects aimed at mitigating climate change.

In an interview on France Inter radio Hollande said such a tax should be put in place next year in willing European countries on "all financial products at a low rate".

Sharjah-based budget carrier Air Arabia said Monday it acquired 49 percent of Jordan's Petra Airline and plans to turn Amman into a new hub. 

The first and largest low-cost carrier in the Middle East and North Africa will rebrand Petra as Air Arabia Jordan, which should begin operations in the first quarter of this year, Air Arabia said in a statement to the Dubai bourse, where it is listed.

U.S. oil prices Monday dropped below $50 a barrel for the first time since 2009 on a rocky day in global financial markets. 

Near 1630 GMT, U.S. benchmark West Texas Intermediate for delivery in February briefly dipped to $49.95 a barrel, before rallying somewhat to $50.20 a barrel.

New car registrations in Germany, a key measure of demand in one of the most important sectors of Europe's top economy, rose in 2014, partly reversing two previous years of declines, the VDA industry federation said Monday. 

A total of 3.037 million new cars were registered year, an increase of 3.0 percent over the figure for 2013, VDA said in a statement.