Energy firms led a rally in Asia equities markets on Wednesday after oil prices soared on hopes for a deal by producers to cut output, while the dollar settled back after its latest gains.

The advance on trading floors is the latest in a volatile week for global markets after Donald Trump's shock election victory, which has fanned uncertainty for the US and the world economy.

Russian Economy Minister Alexei Ulyukayev was sacked Tuesday and put under house arrest on suspicion of pocketing a two-million-dollar bribe in a deal involving state-controlled oil giant Rosneft.

Ulyukayev is the highest ranking official detained over suspected corruption since Putin took power in 2000, and his arrest unleashed speculation as to whether the probe was linked to an internal power struggle.

U.S. President Barack Obama on Tuesday said he would press upon European allies his view that austerity alone "cannot deliver prosperity."

Israel formally invited bids for 24 new oil-and-gas exploration licences off its Mediterranean coast on Tuesday, the first in four years.

"We are offering for exploration half of our economic waters in 24 blocks," Energy Minister Yuval Steinitz said, announcing the offer which closes on April 21.

President-elect Donald Trump has pledged to boost the oil and gas sector and bring back coal, reversing President Barack Obama's efforts to encourage renewable energy and cut dependence on fossil fuels.

But analysts say Trump's policies could serve to worsen the global energy glut, which would reduce prices while doing little to revive the fortunes of "Big Coal."

Veteran Kazakh President Nursultan Nazarbayev is set to feature on new banknotes in the Central Asian country, the national bank said Tuesday, in another testimony to his personality cult. 

New 10,000-tenge ($30) banknotes that feature the portrait of the 76-year-old leader will be put into circulation on December 1, in time for a holiday celebrating his leadership. 

Bank of Cyprus, the east Mediterranean island's largest lender, said on Tuesday it would apply for a listing on the London Stock Exchange as part of its restructuring drive.

Germany's economy grew slower than expected in the third quarter due to falling exports, official data said Tuesday.

Gross domestic product grew by 0.2 percent compared with the second quarter, adjusting for price, seasonal and calendar effects, the federal statistics office Destatis said in provisional figures.

Tourist arrivals to Thailand have not been hit by a strict mourning period for late King Bhumibol Adulyadej, authorities said Monday, as curbs on entertainment and celebration imposed since his death one month ago were eased.

Saudi Arabia has a "very comfortable" level of foreign reserves, the central bank chairman said Monday, despite a drawdown in assets to help cover a fall in oil revenues.