Chinese banks lent more money in January alone than the annual GDP of South Africa, as borrowers rushed to take advantage of government policies intended to stimulate the economy with easy credit.

But the free-for-all has had unintended consequences, creating a tottering tower of unsustainable debt, with Beijing now trying to tighten monetary policy and reduce access to credit without bringing the entire edifice crashing down.

Eurozone finance ministers will on Monday seek the outline of a deal to unblock bailout cash for Greece before fraught elections across Europe endanger a quick fix.

Greece's eurozone and IMF creditors remain locked in a tense stalemate over debt relief and budget targets, spooking financial markets with fears of a return of the "Grexit" crisis.

A contractor was killed and three other workers were injured in a pipeline leak in Saudi Arabia, state-owned oil giant Aramco said Sunday.

Iraq's proven oil reserves have increased by 10 billion barrels to 153 billion, Oil Minister Jabbar al-Luaibi announced Sunday in a statement.

The China National Petroleum Corporation on Sunday secured an eight-percent share in an onshore oil concession in Abu Dhabi in a deal worth $1.77 billion, the Emirati company said. 

Tourists are slowly returning to Egypt, easing pressure on a key sector battered by years of turmoil and the 2015 bombing of a plane carrying Russian holidaymakers.

Every few miles another Trump billboard flashes by on the highways of Dubai, the glitzy Gulf city hosting the first foreign launch of a venue bearing his name since US President Donald Trump took office.

Handcuffed and bound with ropes, the heir of electronics giant Samsung appeared for questioning Saturday over his alleged involvement in the corruption scandal currently engulfing South Korean President Park Geun-Hye. 

Among other allegations, Lee is accused of paying nearly $40 million in bribes to a confidante of the impeached president to secure policy favours.

World stock markets fell further Friday following a downbeat session in Asia, and after Wall Street's Trump-fuelled surge finally came to an end.

European equities staggered lower with London sentiment also dented by news of a fresh drop in retail sales.

German insurance giant Allianz reported a rise in profits for 2016 and increased its dividend, but warned that political and market uncertainty could make for an unpredictable 2017. 

Allianz increased net profit by 4.0 percent to 6.9 billion euros ($7.4 billion) in 2016, it said in a statement late Thursday, slightly overshooting analysts' forecasts.