Bailed-out Spanish banking giant Bankia suffered a loss of 19 billion euros ($25 billion) in 2012, it said in an earnings statement Thursday.

It said the losses were as expected after the Spanish government nationalized Bankia in May, turning it into a symbol of Spain's banking collapse.

The German labor market continues to defy the eurozone debt crisis, with the jobless total falling to its lowest level in five months in February, official data showed on Thursday.

On the face of it, headline unemployment rose this month, but that was primarily due to seasonal factors, monthly data compiled by the Federal Labor Office showed.

Asia has more billionaires than any other continent, followed by North America and Europe, according to a survey by a China-based wealth magazine released on Thursday.

There were 1,453 people around the world with a personal wealth of $1 billion or more as of January, said the Hurun Report, a luxury magazine publisher that compiled the list.

The European Union has reached a deal to cap bankers' bonuses, which critics say played a major role in driving the financial crisis, officials said on Thursday.

The deal was struck early on Thursday, with the European Parliament and the EU's current Irish presidency agreeing on how to implement new rules for the banking sector.

Oil-rich UAE will channel $500 million this year into development projects in neighboring Oman as part of a $2.5 billion pledge within a Gulf aid program, a top Emirati official said on Wednesday.

"The UAE government will pump $0.5 billion this year through the Abu Dhabi Fund for Development," said the fund's chief Mohammed al-Swaidi in Oman.

Italy's political gridlock deepened on Wednesday with bickering between the main leftist party and a new anti-establishment party putting off the prospect of a new government any time soon, following shock elections that have spooked Europe.

Comedian turned populist firebrand Beppe Grillo said his Five Star Movement (M5S) would not endorse the Democratic Party (PD), which won the most votes in the elections on Sunday and Monday but not enough to form a majority in parliament.

EU president Herman Van Rompuy described 2012 as the "turning point" for the crisis-hit eurozone on Wednesday, but also urged bloc members to continue progress towards a banking union.

"2012 marked the turning point in the eurozone crisis," Van Rompuy told journalists during an official visit to Budapest.

U.S. banking giant JPMorgan Chase plans to eliminate 19,000 jobs by the end of 2014 as it seeks to rein in costs, the company said Tuesday in an investor presentation.

JPMorgan Chase intends the majority of the cuts, 15,000 to come from the mortgage banking division, said spokeswoman Kristin Lemkau.

European stocks slumped and the euro hit a near two-month low versus the dollar Tuesday as markets assessed the fallout of Italy's political impasse after elections in the indebted eurozone country.

Milan's FTSE MIB index shed 3.84 percent to 15,724.60 points in late morning deals, with a stalemate in Italy's parliament after a critical vote in which the real winner may be a protest party calling for a referendum on the euro.

The Asian Development Bank said Tuesday it had approved a $150-million loan for a giant hydropower plant to ease Nepal's chronic electricity shortages which lead to power cuts of up to 14 hours a day.

Electricity demand is growing at 10 percent a year but a lack of investment has resulted in short supply, with loadshedding forcing homes and businesses across the impoverished nation to use costly and polluting diesel generators.