European tax planners who help rich clients, including sports stars, evade the tax man will risk hefty fines, according to EU plans unveiled on Wednesday.

The ruble on Wednesday dropped to a level not seen since February, weakened by faltering oil prices and fresh sanctions against Moscow.

The Saudi stock market was up four percent Wednesday on news that King Salman had named his powerful son as heir and that the exchange had moved closer to joining a major global index.

Oil-rich Gulf countries, which for decades have attracted millions of foreign workers thanks to their reputation as tax-free havens, aim to introduce value-added tax in 2018 to plug budget gaps.

On top of administrative and technical hurdles, however, the project now faces an unprecedented diplomatic crisis after Saudi Arabia, the United Arab Emirates and Bahrain on June 5 severed all ties with Qatar, their partner in the Gulf Cooperation Council.

Philippine Airlines will buy seven planes from Canada's Bombardier as part of an effort to regain its dominance of the growing air travel market, the carrier said Tuesday.

Chinese banks have frozen the accounts of more than 100 commodities traders in northeast Myanmar in a bid to clamp down on smuggling and illegal gambling, state media reported Tuesday.

Britain's Serious Fraud Office said Tuesday it had charged Barclays bank and four former managers, including a chief executive, with "conspiracy to commit fraud" linked to emergency fundraising from Qatar during the financial crisis.

Britain's economy will slow in the coming years, the CBI business lobby warned Tuesday, blaming domestic political turmoil -- and the impact of Brexit one day after EU divorce talks began.

Boeing announced Monday what it claims will be the most efficient jet yet in the highly competitive civil aviation market as it tries to claw back market share from rival Airbus.

European stock markets rose on Monday as traders reacted to a strong victory for President Emmanuel Macron's centrist party in French parliamentary elections, as Britain begins formal Brexit talks.