India has barred its airlines from complying with the European Union's carbon taxation scheme, with the government saying no Indian carrier would share emissions data with the EU.

"Though the European Union has directed Indian carriers to submit emission details of their aircraft by March 31, 2012, no Indian carrier is submitting them in view of the position of the government," Civil Aviation Minister Ajit Singh said Thursday in parliament.

European stock markets retreated on Friday, extending the week's heavy losses, but the euro rose against the dollar in the absence of major U.S. economic indicators, traders said.

London's FTSE 100 benchmark index of leading shares dipped 0.12 percent to 5,838.82 points approaching midday in the British capital.

Executives at Swiss banking giant Credit Suisse saw their pay packet shrink by about half in 2011, according to the bank's annual compensation report which was published Friday.

In 2010, each top manager at the bank took home an average of 10 million francs ($10.9 million; 8.3 million Euros) in basic wages and bonuses, but in 2011, each earned an average of 5.4 million francs.

The United States on Friday named the president of a prestigious Ivy League college, Jim Yong Kim, to lead the World Bank, in a race challenged by developing country candidates.

"It's time for a development professional to lead the world's largest development agency," Obama said flanked by Kim, a Korean-American and the head of Dartmouth College.

World oil prices rebounded gently on Friday, one day after slumping in the face of weak Chinese data and international concern that elevated crude costs could hurt the global recovery, traders said.

Brent North Sea crude for delivery in May gained 77 cents to $123.91 a barrel in London midday deals.

A run of poor economic figures weighed on markets Thursday in what is turning out to be one of the worst weeks for stocks this year.

Disappointing figures out of China and the 17-country eurozone have prompted investors to cash out of stocks, following a strong run in previous weeks. Many traders are wary of further pushing up indexes, many of which recently hit multi-month highs.

Australia's central bank on Thursday signed a currency swap deal with its Chinese counterpart, allowing for up to Aus$30 billion (US$31.2 billion) to be exchanged between the two institutions.

The purpose of the deal, another example of the growing internationalization of China's currency, is to support trade and investment between the two countries, the Reserve Bank of Australia said.

The worst is over in the Eurozone debt crisis, but risks remain and it is up to governments to resolve them, European Central Bank chief Mario Draghi said in a newspaper interview Thursday.

"The worst is over, but risks remain," Draghi told the daily Bild, Germany's most widely-read newspaper.

Hewlett-Packard on Tuesday said that it is combining its computer and printer units to free up more cash for innovation in the rapidly evolving technology market.

HP will combine its Imaging and Printing Group and its Personal Systems Group (PSG) into an entity headed by Tom Bradley, who has been PSG executive vice president since 2005.

China Wednesday sought to defuse a trade row with the United States after the latter imposed duties on Chinese solar products, saying it would not hurt ties, even as state media cried protectionism.

The United States said Tuesday it would collect duties of between 2.9 and 4.7 percent on Chinese solar cells and panels, in a preliminary ruling after an investigation over whether companies received unfair financial support.