Tokyo shares rallied Wednesday due to a weaker yen and a record close on Wall Street, after days of losses linked to fears over U.S. President Donald Trump's economic policies.

Germany's largest lender Deutsche Bank may sell off part of its asset management arm as it confronts a mammoth fine in the US over the subprime mortgage crisis, Handelsblatt newspaper reported Wednesday.

Bank insiders value the unit at around 6.0 billion euros ($6.4 billion), of which it might offer a quarter on the stock market, Handelsblatt continued, citing internal sources at Deutsche Bank.

Toyota said it will invest $600 million and create 400 jobs at one of its US plants - just weeks after Donald Trump criticised the Japanese auto giant for planning to open a factory in Mexico.

The US president has pressured automakers, both American and foreign, into boosting production and hiring in the United States, threatening them with punitive tariffs if they move factories and jobs overseas.

Dubai International cemented its title as the world's busiest airport for international passengers in 2016, with a 7.2 percent increase in traveller numbers to 83.6 million, its operator said Tuesday.

Australia said Tuesday it was working to recast the Trans-Pacific Partnership without the United States and opened the door for China to sign up after President Donald Trump ditched the huge trade pact.

The deal included a dozen Asia-Pacific nations which together account for 40 percent of the global economy, but Trump declared Monday he had "terminated" it in line with election pledges to scrap the "job killer" pact.

Abu Dhabi-based Etihad Airways said Tuesday its president James Hogan will step down in the second half of 2017 after leading the fast-growing Gulf carrier for more than 10 years.

The government-owned carrier said the move is part of a "transition process" initiated by the board of Etihad Aviation Group and Hogan last year. 

President Donald Trump's first moves on trade have cast a pall over U.S. trade relations and could hurt U.S. businesses, trade experts say.

Trump has begun his term by pulling out of one major agreement, vowing to renegotiate or exit another, and threatening to impose border taxes on imports -- a clear shift away from decades of policy putting the United States at the forefront of the global push for free trade.

President Donald Trump moved Monday to pull the United States out of the Trans-Pacific Partnership, making good on a pledge to scrap a deal he denounced as a "job killer" and a "rape" of U.S. interests.

Embarking on his first full week in office, the 45th U.S. president began rolling out his policy agenda after a tumultuous first weekend for his administration by signing a series of executive orders.

Venezuelan President Nicolas Maduro on Sunday named a lawmaker as the country's new central bank chief, after reportedly pushing out the former head as the country struggles through a deep economic crisis.

Speaking on his weekly television program, Maduro announced he was nominating Ricardo Sanguino to take over from Nelson Merentes, who had handed in his resignation. 

Kuwait's national oil company has declared a state of emergency over an oil leak in one of its southwestern oil fields.

Monday's statement by the Kuwait Oil Co. did not identify the onshore oil field affected by the leak, which began Sunday.