Oil prices on Wednesday recovered from two-month lows, as traders reacted to a drop in crude inventories in the United States.

The U.S. Department of Energy reported that crude stockpiles dropped by 2.3 million barrels last week, offsetting a surprise rise in gasoline inventories during the peak demand season for American motor fuel.

In a stunning blow to Malaysia's political establishment, the U.S. Justice Department said Wednesday it was moving to seize more than $1 billion in assets allegedly tied to corruption at a state-owned investment fund.

In court papers filed in California, federal prosecutors listed the Hollywood financial crime caper "The Wolf of Wall Street" and nearly twenty other assets to be seized, including lavish real estate from Beverly Hills to a penthouse in New York's Time Warner Center to London's high-end Belgravia neighborhood.

Ratings agency S&P on Wednesday downgraded Turkey's sovereign credit rating after Friday's failed coup bid.

Investor confidence in Germany fell to its lowest level in nearly four years in July on concerns about the fallout from the British vote to quit the European Union, a leading survey showed on Tuesday.

The United Arab Emirates has ordered employers to offer free accommodation to workers paid $540 or less per month, in the latest move in the Gulf to address alleged abuses of migrant labor.

Oil prices extended their decline in Asia Tuesday as the global glut returned to focus, while worries about the effects of Turkey's coup on shipments also eased.

Turkey is a strategic conduit for exports from Russia and Iraq to the Mediterranean and there had been fears that the bid to grab power by a military faction at the weekend would disrupt flows.

Nintendo on Tuesday shot past Sony in market value after shares in the video game giant more than doubled following the release of its wildly popular Pokemon Go game.

Bailed-out Cyprus, seen as a safe destination in a region dogged by terror attacks, set a record for the number of tourist arrivals during the month of June, officials said Monday.

Saudi Arabia's national shipping company and the Arab Petroleum Investments Corp. (APICORP) have launched a joint fund to purchase large oil tankers for the kingdom, an official statement said Monday.

Turkey's currency lira rallied on Monday after suffering one of its steepest ever drops to a historic low in the aftermath of a military coup attempt to topple President Recep Tayyip Erdogan's government.