Carlos Ghosn's momentous years at the helm of Renault are expected to come to an end this Thursday, with the French group set to announce tried-and-tested executives with experience in the car industry to replace him.

The European Union has fined global credit card giant Mastercard 570 million euros ($647 million) for hindering competition with banks offering cheaper payment fees.

Israeli Prime Minister Benjamin Netanyahu and Ukranian President Petro Poroshenko announced Monday the two countries had signed a free trade agreement. 

French carmaker Renault said Tuesday that it would hold a board meeting Thursday to name a replacement for its boss Carlos Ghosn, who remains in custody in Japan over alleged financial misconduct.

The pound recovered ground Monday after British Prime Minister Theresa May said she plans to return to Brussels to discuss changes to the Brexit deal she agreed with EU leaders last month despite an overwhelming rejection of the draft text by MPs last week.

The London stock market ended the day with the thinnest of gains, but still outperformed its European peers which all closed lower.

The International Monetary Fund on Monday lowered its 2019 economic growth forecast for Saudi Arabia and the region over low oil prices and crude output along with rising geopolitical tensions.

Carlos Ghosn, the ousted Nissan boss detained in Tokyo on charges of financial misconduct, on Monday vowed to remain in Japan if granted bail and again proclaimed his innocence.

China's economy grew at its slowest pace in almost three decades in 2018, losing more steam in the last quarter as it battles a massive debt pile and a US trade war, official data showed Monday.

The 6.6 percent growth comes in above the official target of around 6.5 percent and matches a forecast by analysts polled by AFP, but is down from the 6.8 percent chalked up in 2017, according to the National Bureau of Statistics (NBS).

During the years of ultra cheap money, companies loaded up on debt but now the concern is whether they will be able to handle the mountain of debt as interest rates rise.

Japanese media reported Sunday that France wants a merger between Renault and Nissan following the arrest of former Nissan chairman Carlos Ghosn, but according to France's economy minister changing the current set-up is "not on the table".