Iraq's premier summoned the central bank governor Tuesday amid worries sparked by a currency drop against the dollar, with lawmakers calling for an extraordinary session of parliament.

World shares advanced Tuesday after China announced it would relax more of its pandemic restrictions despite widespread outbreaks of COVID-19 that are straining its medical systems and disrupting business.

China's National Health Commission said Monday that passengers arriving from abroad will no longer have to observe a quarantine, starting Jan. 8. They will still need a negative virus test within 48 hours of their departure and to wear masks on their flights.

Companies welcomed China's decision to end quarantines for travelers from abroad as an important step to revive slumping business activity while Japan on Tuesday announced restrictions on visitors from the country as infections surge.

The ruling Communist Party's abrupt decision to lift some of the world's strictest anti-virus controls comes as it tries reverse an economic downturn. It has ended curbs that confined millions of people to their homes and sparked protests, but hospitals have been flooded with feverish, wheezing patients as the virus spreads.

The black market dollar exchange rate witnessed a dramatic drop around noon Tuesday after Central Bank Governor Riad Salameh announced that banks will start selling dollars to the public at a Sayrafa platform rate of LBP 38,000.

“Throughout the three-day holidays period, the U.S. dollar exchange rate surged by LBP 2,000 on the parallel market due to speculation operations and the smuggling of dollars to abroad. This hike caused inflation on the markets, which harmed the Lebanese citizen seeing as prices in Lebanon are linked to the dollar exchange rate,” Salameh said in a statement.

Everything from the signboard outside down to the napkins bears the official emblem of the top international coffee chain. But in Baghdad, looks are deceiving: The "Starbucks" in the Iraqi capital is unlicensed.

Real Starbucks merchandise is imported from neighboring countries to stock the three cafes in the city, but all are operating illegally. Starbucks filed a lawsuit in an attempt to shut down the trademark violation, but the case was halted after the owner allegedly threatened lawyers hired by the coffee house.

Iraq's prime minister appealed to visiting Italian counterpart Giorgia Meloni on Friday for closer economic ties with his oil-rich country suffering from power cuts and decaying infrastructure.

Meloni, who leads the eurozone's third-largest economy, is on her first bilateral trip outside Europe. She is on a pre-Christmas visit to Italian troops posted in Iraq in support of an anti-jihadist mission.

Moscow could cut oil production by up to seven percent in early 2023 following an oil price cap agreed by Western countries, a Russian deputy prime minister said Friday.

"At the start of next year, we could make a reduction of 500,000-700,000 barrels per day. For us, that's around 5-7 percent," Alexander Novak, who is in charge of Moscow's energy policy, said according to Russian news agencies.

Youssef Safouri wandered through a noisy jam-packed Beirut Christmas market, where the hundreds of families who flocked to stands selling gifts by Lebanese designers belied a severe economic crisis that has sapped the savings of millions.

Safouri is among thousands of Lebanese who left the country when its economy started to tumble in late 2019. They have now become a lifeline for families back home who receive remittances from abroad and cash brought in suitcases during holiday visits. Three-quarters of the population is now plunged into poverty.

More than nine years after Croatia became the European Union's newest member, the country is on a roll to make the most of its status as the EU member in the Western Balkans.

Croatia is adopting the EU's common currency, the euro, and joining the Schengen Area, Europe's visa-free travel area, on Jan. 1. Officials in the small nation of 4 million people predict the developments will be remembered as one of the country's biggest achievements since it gained independence during the breakup of Yugoslavia 31 years ago.

World shares were mixed Thursday after a rally on Wall Street as investors welcomed a report showing U.S. consumer confidence is holding up despite the Federal Reserve's campaign to fight inflation by raising interest rates.

Germany's DAX edged 0.1% lower to 14,081.26. The CAC 40 in Paris also lost 0.1%, to 6,578.93. Britain's FTSE 100 rose 0.4%, to 7,525.54.