Arab leaders began a two-day economic summit in Riyadh on Monday, calling for the strengthening of mutual trade and cooperation in order to face challenges brought on by the Arab Spring uprisings.

"We should achieve an Arab common market," said Egyptian President Mohamed Morsi at the opening of the third Arab Economic and Social Development summit, urging Arab nations to "catch up" in the realm of free trade.

French President Francois Hollande is to join German Chancellor Angela Merkel later on Monday to kick off events marking 50 years since the two countries inked a treaty sealing their post-war reconciliation.

Throughout a packed pomp-filled agenda of symbolic and business get-togethers which continue through Tuesday, Europe's power couple will seek to mask tensions that have strained Franco-German efforts to battle the euro crisis.

The European Bank for Reconstruction and Development expressed optimism on Monday that the worst of the eurozone debt crisis was over, but trimmed its 2013 growth forecast for the ex-Soviet bloc.

The EBRD cut the growth forecast for the countries where it operates to 3.1 percent this year, the London-based institution announced in its latest economic outlook.

No additional measures would be necessary for Greece if it carries out the reforms under its bailout program, IMF chief Christine Lagarde said in an interview with the Sunday edition of Kathimerini.

"But if the structural reforms are not carried out... then more cuts would be necessary," the head of the International Monetary Fund told the Greek newspaper.

Japan's All Nippon Airways (ANA) said Monday the worldwide grounding of Boeing's Dreamliner forced it to cancel 335 flights up to next Sunday, affecting nearly 48,000 passengers.

ANA said cancellations on domestic routes from January 16, the day that one of its Dreamliners made an emergency landing, sparking a global alert, to January 27 amount to 292 flights for 44,074 passengers.

The Cyprus Central Bank said on Saturday that a study into how much the country's Greek-exposed banking system needs as part of an EU bailout package has yet to be finalized.

The bank said in a statement that the due diligence review of the banking system -- expected to be completed on January 18 -- was not yet finalized.

Turkmenistan on Saturday indicated for the first time an intention to join the World Trade Organization, in a surprising move by a country with an economy still dominated by Soviet-style five year plans.

President Gurbanguly Berdymukhamedov ordered Deputy Prime Minister Annamukhammet Gochiyev to "examine the issue of Turkmenistan's joining the WTO," the state newspaper Neutral Turkmenistan said.

A two-day economic summit that opens Monday in Saudi Arabia must break with tradition and tackle people's aspirations in the wake of the Arab Spring uprisings, the Saudi foreign minister said.

"Our meeting should not be mired in routine," Prince Saud al-Faisal said at a meeting Saturday to prepare for the third Arab Economic and Social Development Summit.

It's likely that burning lithium ion batteries on two Boeing 787 Dreamliners were caused by overcharging, aviation safety and battery experts said, pointing to developments in the investigation of the Boeing incidents as well as a battery fire in a business jet more than a year ago.

An investigator in Japan, where a 787 made an emergency landing earlier this week, said Friday the charred insides of the plane's lithium ion battery show the battery received voltage in excess of its design limits.

U.S. markets turned in their third straight week of gains Friday with the S&P 500 and the Dow clawing up to their best closing levels in five years.

Activity was hedged by a mixed batch of earnings, but the heavyweight banks -- with the exception of Citigroup -- underpinned the week's gains with their steady-or-better earnings.