Venezuela's oil revenues plummeted 40.7 percent in 2015 due to sinking global oil prices, the country's state-owned PDVSA said in its annual report released Sunday.

PDVSA -- the world's fifth-largest oil company -- earned $72.2 billion in revenues last year, a sharp drop from 2014's $121.9 billion.

British finance minister George Osborne plans to slash corporation tax to under 15 percent to tempt businesses to stay following the country's shock vote to leave the European Union, the Financial Times reported Sunday.

Two Abu Dhabi-based banks have agreed to merge to create the single largest lender in the Middle East and North Africa, a statement said on Sunday.

A consortium led by US firm Noble Energy has approved a $265-million project to sink a new well in a major natural gas field off Israel, officials said Sunday.

The entire management of Iran's development fund was forced to resign on Saturday as part of a mounting scandal over lavish executive salaries, the ISNA news agency reported.

Sri Lanka's president on Saturday bowed to pressure from activists and replaced the country's controversial central bank chief, appointing a respected economist to the top job.

Britain's Brexit vote has put Wales's EU funding in doubt, dealing a potentially heavy financial blow to one of Britain's poorest regions which relies on money from Brussels for farmers' subsidies and urban regeneration.

"Wales are in a bit of trouble, we get a lot of money from the EU," said Anna Preece, shocked by the referendum vote to quit the European Union.

Eurozone unemployment fell to a near five-year low in May, official data said on Friday, in a rare positive sign for a sluggish European economy struggling to return to solid growth.

Oil prices were on their way back down in European markets on Friday morning as a stronger dollar and uncertainty over Britain's vote to leave the EU troubled traders.

North Sea Brent crude for delivery in September was down to $49.33 per barrel at around 1030 GMT, down 13 cents on Thursday's close.

The pound edged up on Friday after tumbling in US trade following hints from the head of the Bank of England that it was ready to cut interest rates to stem fallout from Britain's decision to quit the European Union.

A week after the unexpected Brexit vote, Mark Carney sought to reassure anxious investors that Threadneedle Street would step into financial markets.