Saudi Arabia and allied oil producing countries on Sunday extended output cuts through next year, a move aimed at supporting slack prices that haven't risen even amid turmoil in the Middle East and the start of the summer travel season.

The OPEC+ alliance, made up of members of the producers cartel and allied countries including Russia, extended three different sets of cuts totaling 5.8 million barrels a day.

Japan said Friday that it spent about 62 billion dollars to bolster the yen over the past five weeks, when it intervened in forex markets for the first time since 2022 after the currency hit a 34-year low.

Finance ministry data showed that forex intervention operations totaled 9.79 trillion yen ($62 billion) between April 26 and May 29.

Equity markets diverged Friday as traders fixed attention on inflation numbers from the eurozone and the United States for clues on the outlook for interest-rate cuts.

Paris and Frankfurt indices were slightly lower in midday deals after official data showed eurozone inflation rose faster than expected in May.

India posted world-beating growth of 8.2 percent in the year to March on Friday, in a last-minute boost to Prime Minister Narendra Modi's economic credentials the day before national elections conclude.

The world's most populous country also remains its fastest growing major economy thanks to robust demand and huge government infrastructure spending.

Inflation ticked up to an annual 2.6% in Europe in May, according to official figures on Friday. That's more than expected as a painful spike in consumer prices takes its time to fade away.

It's unlikely to stop the European Central Bank from making a first interest rate cut next week — and moving ahead of the U.S. Federal Reserve in lowering borrowing costs for businesses and consumers.

Shares opened higher in Europe on Thursday after a retreat in Asia as rising bond yields weighed on stock prices.

Germany's DAX edged 0.1% higher to 18,486.92 and the CAC 40 in Paris rose 0.3% to 7,956.50. Britain's FTSE gained 0.3% to 8,204.61.

Lebanon's political class, fuel companies and private electricity providers blocked an offer by gas-rich Qatar to build three renewable energy power plants to ease the crisis-hit nation's decades-old electricity crisis, Lebanon's caretaker economy minister said Thursday.

Lebanon's electricity crisis worsened after the country's historic economic meltdown began in October 2019. Power cuts often last for much of the day, leaving many reliant on expensive private generators that work on diesel and raise pollution levels.

China's Commerce Ministry said Thursday it will restrict exports of aviation and aerospace-related equipment and technology beginning July 1.

A notice seen Thursday on the ministry's website said the move was to safeguard national security and interests and fulfill international obligations such as non-proliferation. Exports of items designated under the new rules will require export licenses.

Chinese President Xi Jinping reiterated calls for the establishment of an independent Palestinian state and promised more humanitarian aid for people in Gaza as he opened a summit with leaders of Arab states Thursday in Beijing.

"Since last October, the Palestinian-Israeli conflict has escalated drastically, throwing people into tremendous suffering," Xi said in a speech opening the China-Arab States Cooperation Forum. "War should not continue indefinitely."

Asian shares were mostly lower Wednesday after a mixed session on Wall Street following a three-day holiday weekend.

Shares fell in Tokyo, Seoul, Sydney and Hong Kong, but rose in Shanghai. Mainland Chinese markets were lifted by moves by city governments in China to support the property market.