The Spanish government will ease its austerity reforms over the coming two years as the economy appears to be emerging from recession, Prime Minister Mariano Rajoy said on Thursday.

"I think we are now in a position to say that there will not be any cutbacks as big as the ones we have adopted over the past two years," Rajoy said in an interview on national radio to mark the midpoint of his mandate.

Business activity in the 17-nation eurozone slowed again in November, adding to concerns that overall growth is softening as the bloc struggles out of recession, a key survey showed on Thursday.

Markit Economics said its Eurozone Composite Purchasing Managers Index (PMI) for November fell to 51.5 points from 51.9 points in October, hitting a three-month low,

Japan's central bank has opted to keep its ultra-loose monetary policy in place, saying the economy is on track for a "moderate recovery" despite slowing growth in the past quarter.

The Bank of Japan ended a two-day policy meeting without any moves to step up bond purchases aimed at pumping some 60 trillion yen to 70 trillion yen ($600 billion to $700 billion) a year into the world's third-largest economy.

Arab and African leaders ended a two-day summit in Kuwait Wednesday by calling for closer cooperation on the political and economic levels, as well as in the fight against terrorism.

The leaders issued the Kuwait Declaration which called for accelerating economic integration in the Arab world, which includes oil-rich Gulf states and investment-thirsty African states.

Russia's central bank withdrew on Wednesday the licence of a popular Moscow bank where a cousin of President Vladimir Putin sits on the board.

Investigators said they suspected managers at Master Bank -- Russia's 75th biggest by total assets -- of money laundering and other illegal cash transactions.

Away from the glare of the media where airlines sign multi-billion-dollar contracts, makers of private helicopters and jets for VIPs are busy doing deals at the Dubai airshow and targeting a vibrant Middle East market.

The aerospace companies making and selling these aircraft for the rich, the powerful and for special services, say that customers' requirements are generally the same: Security, robust construction, and performance.

Virgin Australia chief John Borghetti on Wednesday lashed out at "offensive" allegations made by Qantas in an escalating row over foreign ownership, with reports that lawyers had been called in.

It follows Qantas chief Alan Joyce this week blasting what he called a "virtual takeover" of Virgin Australia by foreign airlines, claiming they were working to destabilize the national carrier.

Kuwait's Emir Sheikh Sabah al-Ahmad Al-Sabah opened the third Africa-Arab summit Tuesday by pledging $1 billion (740 million euros) in low-interest loans and the same amount in investments to African states.

Arab and African leaders gathered for the two-day summit in Kuwait City to review steps to promote economic ties between the Arab world, which includes wealthy Gulf states, and investment-thirsty Africa.

Foreign investment into China rose 5.77 percent on year in the first 10 months of 2013, the government said Tuesday.

Foreign direct investment (FDI), which excludes financial sectors, totaled $97.0 billion for January-October, the Ministry of Commerce announced.

Oil prices fell in Asia Tuesday as data showed global supplies were rising, while traders are also keeping an eye on talks between major powers and Iran over Tehran's nuclear program, analysts said.

New York's main contract, West Texas Intermediate (WTI) for December delivery, was down 13 cents at $92.90 in late morning trade while Brent North Sea crude for January slipped 47 cents to $108.00.