Dubai, famed for its mega-projects before it was hit by the global financial crisis, on Saturday announced a new development to open the world's biggest mall and a park larger than London's Hyde Park.

The ruler of the Gulf desert city state, Sheikh Mohammed bin Rashid al-Maktoum, announced the plan for a "new city within Dubai," according to an official statement, naming it after himself.

India's economy logged around 5.5 percent growth in the last financial quarter, the finance minister estimated on Saturday -- a rate that could boost calls for lower interest rates to spur activity.

India's once-booming economy has been hit by high interest rates, Europe's debt crisis that has slowed exports, and sluggish investment caused by domestic and overseas concerns about policy and corruption.

Ex-president Nicolas Sarkozy has told judges he received no money from France's richest woman, Liliane Bettencourt, amid allegations that his 2007 election campaign was illegally financed, a newspaper said Saturday.

"I have known the Bettencourts for 28 years and I am 57... They have never given me a sou (cent) and I have never asked them," Sarkozy said during a 12-hour hearing in front of investigating magistrates in the southern city of Bordeaux on Thursday, the Sud Ouest daily reported.

Walmart workers hailed their wage protest Saturday, saying their walkout on 'Black Friday' had shown the world's largest retailer their determination to fight against all odds.

Hundreds of protesters targeted Walmart stores across the United States on Friday, the busiest shopping day of the year, accusing the bargain superstore of ripping off its own employees.

International lenders said on Friday good progress has been made on reaching a bailout deal for struggling eurozone member Cyprus, with the country's president saying "convergence" had been achieved.

The European Commission, European Central Bank and International Monetary Fund said in a statement there had been "productive discussions" with Cyprus on the "policy building blocks of a macroeconomic adjustment program."

Oil prices closed higher Friday as investors grew more optimistic about an improvement in Europe's economic situation and took advantage of a weaker dollar.

New York's main contract, West Texas Intermediate (WTI) for January delivery, added 90 cents from Wednesday to close at $88.28 a barrel.

Talks on the European Union's trillion euro budget ended in deadlock Friday when leaders of the 27-nation bloc failed to overcome seemingly irreconcilable differences on spending.

EU President Herman Van Rompuy insisted however that progress had been made in the two days of bitter bargaining. He forecast that a deal would be made when leaders meet again next year.

Clothing retailer Esprit announced Friday that it had raised around $666.9 million via a rights issue as it tries to rebuild its brand with a multimillion-dollar four-year transformation drive.

A total of around 646.1 million shares were sold at HK$8 ($1.03) each. When the share sale was announced in October Esprit said it wanted to raise $677 million.

EU leaders looked set to throw in the towel Friday as talks on a trillion-euro budget for the 27-member bloc faltered over tensions between rich and poor states and Britain's "virulent" demands for austerity.

British Prime Minister David Cameron kept up his defiant stance on the second day of bitter negotiations on the European Union budget for the seven years from 2014 to 2020.

Hundreds of Jordanians protested on Friday against rising fuel prices and called for political and economic reform, an AFP photographer said.

Around 300 people, including Islamists and leftists, demonstrated in front the Grand Mosque in the center of Amman, chanting slogans that included calls for the government to step down.