Eurozone finance ministers met Monday to defuse a bitter rift between top EU and IMF officials over how strictly to hold Greece to the ambitious reform commitments made as part of its bailout.

Emirati Oil Minister Suhail Mazrouei said Monday that current market prices are forcing most producers to freeze oil output levels, insisting it made "no sense" to pump more crude.

"Current prices are forcing everyone to freeze. So I think it is happening as we speak," Mazrouei told reporters in Abu Dhabi.

German industrial orders, a key measure of demand for goods in Europe's top economy, declined in January, weighed down by falling demand at home and in non-eurozone countries, the economy ministry said on Monday. 

Provisional official data showed a decrease in orders of 0.1 percent month-on-month in January, following a drop of 0.2 percent in December. 

A fragile calm in global financial markets has given way to all-out turbulence, the Bank of International Settlements said Sunday, warning of a "gathering storm" which has long been brewing.

German luxury carmaker BMW will throw a lavish 100th birthday party on Monday, looking back at its often troubled history and forward as it seeks to adapt to the age of "personal mobility."

Greek Prime Minister Alexis Tsipras on Sunday said the IMF was employing "stalling tactics" and "arbitrary" estimates to hold up a reforms review crucial to the country's economic recovery.

In 2009 the Nissan factory in Barcelona in northeastern Spain seemed condemned to close.

But it was saved thanks to labor rights sacrifices, becoming a symbol of "flexisecurity" -- a cooperative approach to labor relations in which employees accept a degree of flexibility in working arrangements -- which is being held up as an example to follow in France even as it remains the focus of debate in Spain.

Despite a raft of different measures by the European Central Bank to kickstart sluggish consumer prices in the eurozone, inflation in the single currency bloc turned negative in February for the first time in five months.

The ECB estimates that consumer prices need to rise at an annual rate of close to but just below 2.0 percent to foster healthy economic growth. But area-wide inflation stood at minus 0.2 percent in February, due to the combination of a number of different factors, experts say.

Iran and Turkey aim to triple their annual trade to $30 billion within two years, officials said in Tehran on Saturday, despite the two countries being at odds over fighting in Syria.

Following last year's nuclear deal with world powers Iran is being targeted by Europe as a new market but Turkey is also seeking to cash in after the end of most international sanctions on Iran.

China on Saturday cut its growth target for this year to a range of 6.5 to seven percent, as the world's second-largest economy faces a litany of challenges from overcapacity to weak trade.

The country is a key driver of global growth but expansion fell last year to 6.9 percent, its slowest in a quarter of a century, and worries over its health have sent tremors through stock markets around the world.