U.N.-Arab League envoy Kofi Annan on Wednesday pressed President Bashar al-Assad to quickly answer proposals to end Syria's strife ahead of a new diplomatic surge aimed at passing a Security Council resolution on the crisis.

Annan, who on Friday will brief the U.N. Security Council on his mission, announced that he has received one response from Assad's government.

Mauritius and the Seychelles on Tuesday signed a pact to jointly manage a continental shelf in the Indian Ocean spanning 396,000 square kilometers in what was described as a path breaking accord.

The pact came after the two island nations obtained conjoint rights on the Mascarene Islands continental shelf in March last year. The treaty was signed during a visit by Seychelles President James Michel.

Saudi Arabia's oil minister said Wednesday that his country and other oil exporters are ready to offset any shortfalls in supply because of market volatility — an apparent reference to showdowns with Iran over its nuclear program.

"There is ample production and refining capacity ... Saudi Arabia and others remain poised to make good any shortfalls — perceived or real — in crude oil supply," said Ali Al-Naimi at a major oil conference in Kuwait where he addressed envoys alongside Iranian oil minister Rostam Ghasemi. A transcript of Al-Naimi's remarks was given to reporters.

The Walt Disney Company will give jobs or career opportunities to at least 1,000 returning U.S. military veterans over the next three years, the entertainment and theme park giant said Tuesday.

As part of a "Heroes Work Here" initiative, announced at its annual shareholder meeting, the company will also invest in non-profit organizations that provide training and other support services to veterans.

French oil giant Total is in talks to tap opportunities to invest in autonomous Iraqi Kurdistan, its chief said Tuesday as Baghdad insists contracts should go through the central government.

"Kurdistan is part of Iraq. A lot of companies are investing in Kurdistan-Iraq and we don't see why Total couldn't do it," Total chief executive officer Christophe de Margerie told reporters in Kuwait.

International credit ratings agency Moody's downgraded euro member Cyprus to junk status Tuesday on heightened concerns over its banking sector's exposure to Greece.

The agency cut its rating on Cyprus by one notch to Ba1 and assigned a negative outlook, meaning that further downgrades are possible.

Germany's top central banker has urged the European Central Bank to come up with a plan to eventually withdraw its massive emergency loans to banks, warning that they carry significant risks and have only bought Europe time to deal with the deeper causes of its debt crisis.

Bundesbank head Jens Weidmann said Tuesday that the ECB and national central banks had run up risks by loosening collateral requirements for the loans and from the sheer size of the loans — and therefore needed to be aware of the pitfalls.

Mexican tycoon of Lebanese origin Carlos Slim is teaming up with former CNN talk show host Larry King to launch an online television venture called Ora.TV.

Slim and King, the co-founders of the network, said that Ora will produce high-quality video programming for smartphones, computers and Web-connected television sets.

Asian markets rose on Tuesday with traders expecting the final go-ahead for Greece's second bailout soon, although they were unfazed by fresh easing measures from Japan's central bank.

Sydney rose 1.21 percent, or 50.9 points, to 4,347.6, Tokyo was flat, adding 9.22 points to 9,899.08 and Seoul jumped 1.13 percent, or 22.54 points, to 2,025.04.

Japan said on Tuesday it had won approval from Beijing to buy Chinese government bonds for the first time, in a move aimed at binding Asia's two biggest economies and traditional rivals closer together.

China does not allow investors to freely purchase its debt, requiring official approval instead. But analysts said it appeared to be the first time a major economy had bought government bonds directly from Beijing.