Turkey said Wednesday it will keep supplying energy to Syria despite previously threatening to halt exports to its conflict-wracked neighbor.

"The Syrian people need electricity now more than ever. We will continue to provide it," Energy Minister Taner Yildiz said, the Anatolia news agency reported.

Beleaguered Spain was to seek French support in the face of its soaring borrowing costs Wednesday as Europe's economic crisis deepened with a slump in German confidence and worsening British recession.

After talks in Berlin Tuesday, Spanish Finance Minister Luis de Guindos was to meet French counterpart Pierre Moscovici in Paris as the Eurozone tries to contain fears Spain may be headed for a full bailout.

France will boost support for environmentally friendly cars as part of a recovery plan to be unveiled Wednesday amid growing concern for the country's crisis-hit auto industry and top carmaker Peugeot.

Highlighting the difficulties facing the French auto sector, PSA Peugeot Citroen announced Wednesday it had suffered a first half net loss of 819 million euros ($989 million), more than reversing a year-earlier net profit of 806 million euros.

The Eurozone crisis is the main risk facing Singapore's economy and financial system, the central bank said Wednesday, warning the city-state to brace for "a more adverse turn of events".

Ravi Menon, managing director of the Monetary Authority of Singapore, said any sharp deterioration in the Eurozone, the city-state's biggest export market, could hurt economic growth and lead to a drying up of bank credit.

Ratings agency Moody's on Tuesday lowered the outlook on the EU's bailout fund from stable to negative, after threatening the triple-A credit ratings of three of the Eurozone’s major guarantors.

Moody's said its decision to lower the outlook on the European Financial Stability Facility (EFSF) reflected the changes in outlooks on Germany, the Netherlands and Luxembourg. But it maintained the EFSF's triple-A rating.

Swiss engineering group ABB said on Tuesday that it has won a contract worth more than $100 million (82.7 million euros) to build a gas condensate plant in Oman.

The order was placed in the second quarter by Petroleum Development Oman (PDO), said ABB, which releases its half-year results on Thursday.

French Foreign Minister Laurent Fabius said on Tuesday that he hoped that Spain would not need a full bailout, but if so, it could require a boost to Europe's rescue fund or European Central Bank action.

"I hope it will not be necessary to intervene again," Fabius told France 2 television. "If we have to intervene, it could be (via) an increase of firewalls... or interventions by the (European) central bank."

As a Philippine property boom gathers pace, even Paris Hilton, Donald Trump and high-fashion house Versace are getting a piece of the action.

The good times are into their fourth year, fuelled by steady economic growth, Western firms offshoring jobs to the Philippines, the buying power of millions of Filipinos working abroad and low interest rates.

Moody's took the first step toward stripping Germany of its coveted AAA credit rating on Monday, cutting the outlook for Europe's largest and most pivotal economy to "negative."

Delivering a stark warning that no one is immune from the Eurozone’s rolling crisis, the ratings agency lowered Germany's credit outlook from "stable" to "negative."

Russia and a top Italian construction firm on Monday signed a deal worth 1.0 billion euros to build infrastructure for developing tourism in the violence-plagued Northern Caucasus region.

The deal, signed on the sidelines of a visit to Russia by Italian Prime Minister Mario Monti, foresees the Italian firm Rizzani de Eccher investing 1.0 billion euros ($1.2 billion) to develop hotels and commercial infrastructure.