U.S. President Barack Obama said Friday he hopes to have an agreement on framing a vast pan-Pacific trading block by the time he makes his next visit to Asia in November.

The Trans-Pacific Partnership (TPP) would encompass 40 percent of the global economy and include 12 nations. Talks on setting up the pact have been delayed by intricate market access negotiations between Japan and the United States.

Russia will contest U.S. sanctions over the crisis in Ukraine at the World Trade Organization, Prime Minister Dmitry Medvedev said Friday.

"The United States has introduced sanctions against Russia which will have negative consequences for external trade. We have decided to challenge them at the WTO," Medvedev said in televised comments.

Australia's trade minister Friday dismissed reports the country was in negotiations to deregulate its banking sector as a "massive beat-up", saying he would not enter any agreement undermining the industry.

WikiLeaks documents, reported in Fairfax Media, showed that Australia, the United States, the European Union, Japan and 19 other countries were in talks about opening up access to their banking industries to foreign players as part of a Trade in Services Agreement.

The eurozone's current account surplus grew to 21.5 billion euros ($29.3 billion) in April, European Central Bank data showed Friday.

The monthly figure is higher than a surplus of 19.6 billion euros in March, according to revised data.

Oil prices were mixed in Asia Friday but retained support near a nine-month peak as dealers track the unfolding sectarian conflict in Iraq fearing it could cause a major supply disruption. 

Brent crude for August fell four cents to $115.02 in afternoon trade, after rallying to $115.06 in London, its highest since early September. 

Oil prices soared Thursday to a new nine-month high point on escalating violence in Iraq, as militants attacked the major crude producer's biggest refinery and seized more territory.

Brent crude for August delivery rallied as high as $114.80 per barrel, reaching a level last seen in September 2013. It later stood at $114.50, up 24 cents from Wednesday's close.

Building work in quake-damaged Christchurch helped drive New Zealand's economy to its fastest rate of growth in more than six years, according to figures released Thursday.

Government agency Statistics New Zealand said the economy grew 3.8 percent in the first quarter from the same quarter a year ago.

Argentina's government has finally agreed to try to negotiate a payment plan for the $1.5 billion in bad debts and interest it owes to the U.S. hedge funds it demonizes as "vultures."

But before both sides sit down for talks in New York next week, President Cristina Fernandez wants everyone to know she still has some cards to play.

The Federal Reserve slashed its 2014 growth forecast for the U.S. economy Wednesday to 2.1-2.3 percent after a deeper-than-expected contraction in the first quarter of the year.

But the Federal Open Markets Committee left its forecast for interest rates largely intact, predicting as earlier that an initial increase of the benchmark federal funds rate from the current zero level would take place only next year, and the rate would not rise rapidly after that.

The European Union is expected to announce a ban on imports from Crimea next week in response to Russia's annexation of the Ukrainian territory, two sources told Agence France Presse on Wednesday.

EU foreign ministers meeting in Luxembourg on Monday are likely to agree a move to ban imports from Crimea as from next week, notably its wine, said an EU diplomat speaking on condition of anonymity.