The long-planned initial public offering of a sliver of Saudi Arabia's state-run oil giant Saudi Aramco will see shares traded on Riyadh's stock exchange in December, a Saudi-owned satellite news channel reported Tuesday as the kingdom's marquee investment forum got underway.

The report by Dubai-based Al-Arabiya offered a crackle of life to the Future Investment Initiative in the kingdom's capital of Riyadh, an event created by Saudi Crown Prince Mohammed bin Salman. Initial panels at the forum offered a pessimistic look at a world as participants described the global economy as a teetering on a 1930s-level crisis.

HSBC's interim chief executive on Monday said the banking giant was underperforming in parts of Europe and the United States, as third-quarter profits slipped and the lender warned of further headwinds.

Sterling extended losses Friday owing to renewed Brexit uncertainty after Boris Johnson proposed a general election to resolve the long-running saga, while Asian markets were mixed after a broadly positive week.

The pound firmed against the dollar and euro on Wednesday as the European Union prepared to grant a further delay to Brexit, averting the prospect of Britain departing the bloc next week without a deal.

Asian markets rose Tuesday on growing optimism that China and the US will sign a partial trade deal next month, while the pound held firm around five-month highs as dealers bet Britain will leave the EU with a Brexit agreement.

US consulting firm McKinsey said Monday that a third of big global banks may not survive a major financial shock, with those in western Europe and Asia most at risk.

Sterling steadied around $1.29 Friday as dealers paused for breath at the end of a dizzying week and on the eve of a vital vote on Prime Minister Boris Johnson's Brexit deal.

Banks aiding a stock market float for Saudi oil giant Aramco will be "devoid of all sincerity" regarding environmental and social concerns, green and rights groups jointly said Thursday.

Germany on Thursday slashed its growth outlook for next year, saying it expects trade conflicts, Brexit and other sources of uncertainty abroad to continue weighing on an economy that remains buttressed by domestic strength.

China said Thursday that its negotiators have "accelerated efforts" to hammer out the details of a partial deal with the United States, as the two sides edge towards an agreement in a lingering trade war.