Moody's downgraded its credit rating for Japan on Monday, citing "rising uncertainty" over the country's debt situation and Prime Minister Shinzo Abe's faltering efforts to kickstart growth.

The ratings agency said it cut Japan's rating by one notch to A1 from Aa3, just two weeks before an election and after the economy sank into recession during the July-September quarter.

Oil tumbled to new multi-year lows in Asia on Monday, extending a sharp sell-off last week in response to OPEC's decision to maintain output despite a supply glut and plunging prices.

U.S. benchmark West Texas Intermediate (WTI) for January delivery dipped $1.65 in afternoon Asian trading to $64.50, its lowest intraday level since July 2009.

Gulf Arab stocks plunged Sunday on their first trading day since OPEC decided to maintain oil output in a move that sent crude prices crashing to five-year lows, analysts said.

Barack Obama showed some presidential support for small businesses on Saturday, when he stopped at a local Washington bookstore for a spot of holiday shopping.

His visit to the Politics and Prose independent bookstore came on "Small Business Saturday" -- a growing movement that encourages shoppers to support local merchants.

Leading gold buyer India has announced it has eased controls on imports of the yellow metal after its current account deficit narrowed sharply.

India, the world's second-biggest gold buyer after China, imposed the import restrictions last year to avert a trade deficit crisis that pushed the rupee to record lows.

Striken Malaysia Airlines apologized Saturday for a year-end promotion tweet that sparked anger on Twitter after it inadvertently drew parallels with the still-missing MH370 flight.

"Want to go somewhere but don't know where?" read the post on Twitter that was meant to promote special deals by the national carrier, prompting scorn from online users.

Venezuelan President Nicolas Maduro ordered his government on Friday to slash the budget of his oil-dependent and economically-weak nation, as crude prices plunge after OPEC held output steady.

The leftist leader called for a "substantial reduction" of the salaries of senior government officials, from state firms to ministries and his own wages.

Oil extended losses in Asian trade Friday after the OPEC cartel refused to cut production despite a global glut that has sent prices slumping to four-year lows, with analysts warning of further falls to come.

US benchmark West Texas Intermediate (WTI) for January delivery was at $68.63 a barrel in late afternoon trade, down 42 cents from its settle price in electronic trading in New York on Thursday. US floor trading was closed due to the Thanksgiving holiday.

Argentina's tax agency has charged British bank HSBC with helping more than 4,000 Argentines to commit tax evasion by stashing money in secret Swiss accounts, officials said Thursday.

The Argentine tax authority (AFIP) said it had searched HSBC offices in Buenos Aires before moving ahead with the charges.

The European Commission was set to unveil a hard-eyed assessment of eurozone economies on Friday, with special attention on overspending France and Italy that risk sanctions by Brussels.

The Commission, the EU's executive branch, delivers official opinions on euro government budget plans under new powers given to Brussels during the eurozone debt crisis.