Hyundai Mipo Dockyard said Wednesday it had received an order worth $250 million to build four chemical tankers for Kuwait even as the world's shipbuilding industry suffers from a downturn.

Under the contract signed Tuesday in Kuwait, Hyundai Mipo -- a subsidiary of Hyundai Heavy Industries -- will deliver the four tankers to the state-run Kuwait Oil Tanker Company by August 2014.

Construction of the Tokyo Sky Tree, the world's tallest self-supporting communications tower, is set to finish Wednesday, two months late because of the quake and tsunami that struck Japan last March.

Tourist bosses in the country hope the tower will be a big draw for foreign visitors, whose numbers have plummeted in the aftermath of the disaster and the nuclear crisis it sparked.

Oil prices rebounded in Asian trade Wednesday as concerns over crude producer Iran's nuclear program crept back into the market, analysts said.

New York's main contract, light sweet crude for delivery in April, gained 28 cents to $106.83, while Brent North Sea crude for April delivery was up 60 cents to $122.15 in morning trade.

Saudi Arabia said on Wednesday that it would honor a pledge of $3.75 billion in aid to Egypt, after complaints by the Egyptian premier that donor countries were failing to respect their commitments.

"The kingdom pledged to support Egypt in meeting the challenges facing its economy through a series of financial commitments totaling $3.75 billion," Prince Saud al-Faisal was quoted as saying by the official SPA news agency.

A top Iraqi government official said Tuesday his country needed $500-700 billion dollars in investment to rebuild its infrastructure, comparing the war-shattered nation to post-war Germany.

Nine years since the U.S.-led invasion to oust former president Saddam Hussein, Iraq's reconstruction needs are still huge, Sami Araji, chairman of Iraq's National Investment Commission, told a business audience in New Delhi.

Greek lawmakers are to vote on a package of tough salary and pension cuts Tuesday as part of measures needed to secure the payout of the debt-ridden country's second international package of bailout loans.

The parliamentary vote comes a day after the Standard & Poor's ratings agency downgraded Greece's credit rating to "selective default" over a debt write-down deal with private creditors that is an integral part of the second bailout.

TransCanada Corp announced Monday it would go ahead with building part of the controversial Keystone XL oil pipeline between Oklahoma and the Texas coast that does not require U.S. presidential approval.

The company also said it will resubmit its proposal for the entire $7 billion pipeline project from Canada's oil sands of Alberta to Gulf Coast refineries that U.S. President Barack Obama rejected last month.

Venezuela's oil minister confirmed that it sent two shipments of diesel to Syria last year and said it would send further supplies "when required" despite Western-led sanctions.

The United States and the European Union have tightened sanctions in an effort to isolate Syrian President Bashar Assad's regime over its deadly months-long crackdown on pro-democracy protests.

U.S. auto giant General Motors is in talks to buy out five percent of France's biggest car builder PSA Peugeot Citroën, business daily Les Echos reported on Tuesday citing several sources.

Sources close to the negotiation said the deal was a so-called standstill agreement in which GM could not increase its stake in Peugeot without prior permission from the car group.

Oil prices fell below $109 a barrel Monday in Asia after a 14 percent gain this month that was driven by signs of an improving U.S. economy and fears of an Iran supply cut.

Benchmark crude for April delivery was down 86 cents to $108.91 per barrel late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract rose $1.94 to settle at $109.73 in New York on Friday.