Starwood Hotels on Tuesday took over management of a luxury hotel in central Havana, becoming the first big American hospitality chain with a presence on the island since the Cuban Revolution a half-century ago.

Oil prices extended gains in Asia on Wednesday, tracking a recovery in equity markets as leaders look to temper fears over the effects of Britain's shock EU exit, while traders bet on measures to negate any turmoil.

Asian stocks and currencies have recovered this week after Friday's global sell-off, as speculation swirls that authorities will inject fresh stimulus into financial markets.

European stocks rose for the first time on Tuesday since Britain's shock vote to quit the EU and the pound rebounded as investors cautiously returned to the markets which remained jittery.

Oil prices rebounded in Asia Tuesday on bargain hunting but tremors from Britain's shock vote last week to leave the European Union continue to dampen buying sentiment.

The pick-up in the black gold came in line with a recovery in Asian stock markets as speculation swirls that authorities could unveil stimulus measures to offset the impact of the so-called Brexit.

South Korea on Tuesday announced an economic stimulus package of 20 trillion won ($17 billion) as it cut its 2016 growth forecast due to slowing global demand and the fallout from Britain's shock decision to leave the EU.

The finance ministry revised its growth target for the year to 2.8 percent from 3.1 percent, and said it would provide a supplementary budget of 10 trillion won to create jobs and cushion the impact of ongoing state-run corporate restructuring on ailing industries.

Harrods, the Savoy, the Shard -- London property has long been a magnet for Gulf investors and Britain's vote to leave the European Union is unlikely to dampen their interest, analysts say.

Britain battled to stop worldwide Brexit alarm Monday but failed to prevent the pound crumbling to a three-decade low against the dollar as European shares took a fresh plunge.

One fifth of British business leaders are considering moving operations abroad after the country's shock decision to leave the EU, according to a survey from a leading business lobby group.

The Institute of Directors (IoD), which polled more than a thousand of its members between Friday and Sunday, added one in four planned to freeze recruitment following the surprise referendum result.

Shares in banks, airlines and property companies plunged on the London stock exchange Monday as investors singled out the three sectors as being the most vulnerable to Britain's decision to leave the EU.

EasyJet stock fell over 16 percent after the company issued a profit warning, while British Airways parent IAG's shares were down 9.4 percent at around 0900 GMT.

Growth of loans to the private sector in the euro area edged up slightly in May, European Central Bank data showed on Monday.

For the ECB, the statistics are a key indicator of the economic health of the single currency area, as borrowing is a main financing source for corporate investment which in turn should boost the eurozone's currently weak economy.