Can a long-delayed natural gas plant transform a nation's economy? Ghana's President John Dramani Mahama certainly hopes so, labelling a new facility even more important than the discovery of oil.

A high-level international panel called Tuesday for the decriminalization of drug use and the creation of legally regulated markets to wrest control of the narcotics trade from organized crime.

Tehran said Tuesday it would enhance energy cooperation with Russia but there would be no imminent oil-for-goods deal of the kind that has raised concerns in Washington.

"Iran and Russia have agreed to cooperate in the energy field," Ali Majedi, Iran's deputy oil minister, told the ISNA news agency.

Japanese e-commerce giant Rakuten said Tuesday it would buy U.S. online shopping operator Ebates for about $1.0 billion as it looks to tap overseas markets to counter a limited home market.

Rakuten said the all-cash deal would give it access to 2.5 million new customers in various markets including the United States, Canada, South Korea and China.

European businesses in China on Tuesday warned the Communist Party urgently to implement promised reforms or risk seeing growth in the world's second-largest economy plummet and incomes stagnate.

"The 'golden age' for business in China is drawing to a close," the European Union Chamber of Commerce in China said.

European businesses in China on Tuesday warned the Communist Party urgently to implement promised reforms or risk seeing growth in the world's second-largest economy plummet and incomes stagnate.

The world is facing a global jobs crisis that is hurting the chances of reigniting economic growth and there is no magic bullet to solve the problem, the World Bank warned on Tuesday.

The European Union must crack down on banks sidestepping a cap on pay bonuses that were set by Brussels earlier this year, a top EU official said.

Internal Market Commissioner Michel Barnier said in a letter to the European Banking Authority, the EU watchdog, that major Britain-based banks were using so-called "cash allowances" to reward senior bankers, adding that they were bonuses in all but name.

Dubai has relaunched an ambitious project to develop its second airport, touted originally as the world's largest, to handle 120 million passengers a year.

The plan aims to expand Al-Maktoum International airport within eight years to shift the growing operations of Emirates Airlines from Dubai International, Dubai Airports chief Paul Griffiths told Agence France Presse on Monday.

Ratings agency Moody's said Monday prolonged political discord in Hong Kong over China's refusal to grant the key financial hub full democracy could negatively impact the city's economy.

But the agency added that the southern Chinese city would likely weather any storm caused by the current political crisis.