Oil prices declined in Asia Friday as a midweek rally dissipated with no relief in sight to a global crude oversupply, analysts said.

Prices surged on Wednesday driven by bargain-hunting and a below-forecast rise in U.S. commercial crude inventories, but concerns over the supply glut soon resurfaced.

Japan Airlines said Friday its six-month net profit soared nearly 29 percent, after rival All Nippon Airways also posted upbeat results as the carriers benefit from  a surge in tourism and a steep slide in fuel costs.

Visitor arrivals in Japan have surged as a weak yen puts more purchasing power in the hands of foreign tourists.

Deutsche Bank, Germany's biggest lender, announced Thursday it would cut 9,000 jobs and pull out of 10 countries in a new 3.8-billion-euro cost-cutting drive after it ran up record losses in the third quarter.

Deutsche Bank's new co-chief executive John Cryan told a news conference that the group planned to close onshore operations in Argentina, Chile, Mexico, Peru, Uruguay, Denmark, Finland, Norway, Malta and New Zealand. And it would move trading activities in Brazil to global and regional hubs.

LG Electronics' mobile business dived into the red for the first time in 18 months during the third quarter, pulling down overall net profit despite a surge in home appliance sales, the company said Thursday.

The South Korean electronics maker said its handset unit, which includes smartphones, posted an operating loss of 77.6 billion won ($67.8 million)  in the July-September period.

German airline Lufthansa said Thursday it was raising its full-year forecasts after low oil prices and positive passenger numbers lifted profits in the third quarter. 

"The realignment of the Lufthansa group is now being reflected in good results. There is no question that the low oil price helped us to achieve these," said chief executive Carsten Spohr.

Norwegian oil giant Statoil on Wednesday again slashed its investment forecast for this year as dropping oil prices and writedowns led to weaker-than-expected third quarter earnings.

The group reported a net loss of 2.8 billion kroner (299 million euros, $329.1 million) during the quarter, which was an improvement on the 4.8-billion-kroner loss it registered in the same period a year ago owing to a vast cost savings program.

German auto giant Volkswagen said Wednesday that the global pollution-cheating scam it is currently embroiled in pushed it deeply into the red in the third quarter and would hurt earnings for the whole of 2015.

VW said in a statement that it booked a net loss of 1.673 billion euros ($1.85 billion) in the period from July to September, compared with a profit of 2.971 billion euros a year earlier. 

Weak U.S. economic data dented confidence on Asian trading floors Wednesday, sending investors running for safe investments ahead of policy announcements by the Federal Reserve and Japan's central bank.

Dealers are nervous heading into the corporate earnings season, with equities and currency markets having suffered their worst quarter for four years during July-September.

Troubled British bank Barclays on Wednesday announced the appointment of former JP Morgan investment banker James Staley as its new chief executive.

The 58-year-old American will take up his new role on December 1, the bank announced in a statement, indicating a renewed focus on its investment division.

U.S. Republican leaders Tuesday began selling the comprehensive budget deal they reached with the White House to fellow lawmakers, running into conservative opposition to lifting the debt ceiling without dramatic spending cuts.

The agreement, negotiated largely in secret between outgoing House Speaker John Boehner and the White House with input from other congressional leaders, would raise spending caps by modestly increasing federal spending by about $80 billion over the next two years.