The Greek recession will be even worse than expected next year, according to a draft budget tabled in parliament on Wednesday.

The country -- which risks running out of money in two weeks -- will run a bigger public deficit than forecast a month ago in a previous draft and the economy is expected to shrink by 4.5 percent in 2013, compared with the previous forecast of 3.8 percent.

Spain's number two bank, BBVA, said Wednesday it had taken a battering from the slumping value of property-related assets, leading to a third-quarter net profit plunge.

Net profit dived 81.8 percent from a year earlier to 146 million euros ($190 million) in the third quarter, the bank said. Net banking income surged 18 percent, however, to 3.88 billion euros.

British bank Barclays, which was rocked by a rate-rigging scandal earlier this year, said on Wednesday it fell into a nine-month net loss as it took a vast charge on the value of its own debt.

Barclays, which also took a large provision for insurance mis-selling, said in a results statement that losses after taxation stood at £200 million ($321 million, 248 million euros) in the nine months to September.

The United Arab Emirates cabinet on Tuesday approved the 2013 federal budget, which projects a rise in both spending and revenue and without any shortfall.

Spending is projected at 44.6 billion dirhams ($12.1 billion) up 6.7 percent on the 2012 expenditure of 41.8 billion dirhams ($11.4 billion), according to the official WAM news agency.

Swiss banking giant UBS announced nearly 10,000 job cuts worldwide on Tuesday, saying that the costs of restructuring its hard-hit investment bank had pushed it deep into loss in the third quarter.

The costs switched the Swiss bank's third-quarter results into a 2.2-billion Swiss franc net loss compared to the 1.0 billion net profit it had reported during the July-September period last year.

The European Commission rejected on Tuesday a suggested 50-billion-euro cut in its fiercely contested 2014-20 EU budget as member states jostle for advantage ahead of a difficult summit next month.

Cyprus, the current rotating president of the EU, put up a revised version of the budget containing savings of "at least 50 billion euros," which it described as "a starting point" for member states.

Deutsche Bank, Germany's biggest bank, said Tuesday improved market conditions boosted underlying profits in the third quarter, even if net profit was down due to a much bigger tax bill.

Deutsche Bank said in a statement its net profit amounted to 755 million euros ($980 million) in the period from July to September, compared with 777 million euros a year earlier.

Bayer, the German maker of Aspirin, said Tuesday bottom-line earnings were hit by litigation costs connected with its Yasmin oral contraceptive in the third quarter, but it remained confident for the full year.

Bayer said in a statement its net profit fell by 17.8 percent to 528 million euros ($688 million) in the period from July to September.

A Greek investigative journalist was sent for trial on Monday charged with breach of privacy after publishing names from an alleged list of Swiss bank accounts that the Athens government has been accused of trying to cover up.

Costas Vaxevanis, a veteran television journalist who is editor of the "Hot Doc" magazine, appeared in court in Athens after the list was published in its Saturday issue.

French President Francois Hollande was under new pressure on Monday to ramp up the competitive position of lagging French industry after top business leaders demanded a 30-billion-euro cut in welfare charges paid by employers and big cuts in state spending.

Hollande, who is grappling with pre-election pledges to create jobs and spur growth while being forced to embrace austerity to plug a 37-billion-euro ($47 billion) hole in public finances, was set to discuss the issue with the heads of the World Bank, IMF and other top financial institutions in Paris.