Greece's radical left government was at pains Saturday to put a positive face on an EU compromise deal that is sharply at odds with its anti-austerity ambitions.

At a last-ditch meeting on Friday, Europe gave Athens some breathing room to present alternative reforms in a bid to save its crucial financial lifeline.

U.S. West Coast dockworkers and port operators have reached a tentative deal on a new labor contract, officials said late Friday, averting a shutdown that would have hit about half the country's trade.

The tentative five-year agreement, details of which were not immediately available, should free up operations at the ports, with business "restored to full capacity" beginning Saturday evening, Labor Secretary Thomas Perez told a conference call.

Greece will prioritize EU-acceptable reforms, a government source said Friday after eurozone finance ministers granted Athens a four-month loan extension.

"The new Greek government will present its batch of reforms for the next intermediate phase, giving priority to those that constitute common ground such as combating tax evasion, corruption, restructuring public administration and dealing with the humanitarian crisis," the source said.

IDT Corporation, the largest U.S.-based provider of international long distance calling, has reached an agreement with Cuba's ETECSA telecom company to provide phone service between the two countries as they normalize relations.

The Cuban company, Empresa de Telecomunicaciones de Cuba S.A., said in a statement Friday that the deal enables "the reestablishment of direct communication between the United States and Cuba."

A new front for Ukraine: As conflict persists in the east, the massive financial lifeline pledged by the international community is rife with uncertainties, especially linked to the country's debt.

Strangled by 10 months of deadly fighting between government forces and pro-Russia separatists, Ukraine's backers have proposed a new $40 billion, four-year deal to support government finances and combat a severe recession.

Eurozone business activity hit a seven-month high in February, extending gains despite concerns over the Greek debt crisis as the economy recovers from a soft patch, a key survey showed Friday.

Analysts broadly welcomed the closely-watched Markit Economics report after the economy had looked in real difficulty late last year, but some remained cautious on the outlook.

Oil prices climbed Friday, recovering slightly from a sell-off caused by news that U.S. stockpiles had reached record highs, adding to worries about a global supply glut.

U.S. benchmark West Texas Intermediate for April, a new contract, gained 35 cents to $52.18 while Brent added 33 cents to $60.54.

Dozens of angry clients of Portugal's recently collapsed Banco Espirito Santo (BES) stormed a branch of its successor Novo Banco on Thursday demanding the pay-back of bonds representing their life-savings.

In the third such incident in recent weeks, around 100 people swarmed Novo Banco's Coimbra agency in central Portugal shouting "thieves", "crooks" and "we want our money back", Portugal's Lusa news agency said.

Germany and Greece face off again Friday in search of a last minute bailout compromise, with Berlin insisting Athens accept continued austerity in return for fresh aid.

After days of sharp exchanges, the 19 eurozone finance ministers gather for their third meeting in little over a week to consider a take-it or leave-it proposal by Athens that they extend an EU loan programme which expires this month.

Russia's Gazprom on Thursday started supplying gas directly to the rebel-controlled area in east Ukraine after pro-Moscow separatist leaders said Kiev had cut supplies, the company's chief said.

"From 1600 (1300 GMT) on February 19, Gazprom is supplying gas to Ukraine including through the Prokhorovka and Platovo gas metering stations to an amount of 12 million cubic meters per 24 hours," said Alexei Miller, quoted by RIA Novosti news agency.