U.S. Treasury Secretary Jacob Lew warned Wednesday that the excessive use of economic sanctions could weaken the role of the United States and the dollar on global markets.

"Sanctions should not be used lightly," Lew said in a speech in Washington.

The brutal five-year conflict in Syria has cost the country over $200 billion (176 billion euros), President Bashar Assad said in an interview released Wednesday, insisting Damascus would look to Russia, China and Iran to rebuild the nation. 

It took a century for Sharp to evolve from making pencils into one of the world's top consumer electronics brands, but the Japanese company has now signalled another huge shift: it will become Taiwanese.

Two of China's biggest banks on Wednesday announced slight increases in 2015 net profits, but warned of growing risks from bad loans as the world's second largest economy slows. 

The Industrial and Commercial Bank of China (ICBC) eked out a 0.48 percent rise in net profit to 277.13 billion yuan ($43 billion), it said in a statement to the Hong Kong stock exchange where it is listed.

If Britain exits the European Union it will have a negative impact on the British, European and world economies, US Treasury Secretary Jacob Lew warned Tuesday.

Britons are set to vote in a crucial referendum on June 23 to decide whether to back a so-called Brexit -- or exit from the European Union.

The dollar extended its losses in Asia on Wednesday after Federal Reserve chief Janet Yellen stuck to a dovish stance on monetary policy, citing ongoing concerns about the global economy.

Yellen signaled U.S. interest rates were unlikely to rise before June, and that when the central bank does tighten policy, it will be slow and gradual. 

Britain's defense minister said on Tuesday that a deal to sell Eurofighter Typhoon warplanes to Qatar was "definitely still on the table."

Chinese President Xi Jinping signed a landmark strategic partnership with his Czech counterpart in Prague on Tuesday amid a fresh wave of protests in the Czech capital against Beijing's policies on Tibet.

Saudi Arabia and Kuwait have reached a deal to resume production at the disputed Khafji offshore oilfield, Kuwait's acting oil minister said on Tuesday.

"An agreement has been reached with the Saudi side at Aramco to resume production at Khafji field in small quantities," Anas al-Saleh told parliament during a debate.

Visitor numbers to Turkey plunged by over 10 percent in February, the government said Tuesday, as tourism was hit by a crisis in relations with Russia and security fears after a series of attacks.

The number of foreigners entering Turkey fell 10.32 percent in February from the same period the year earlier, the Ministry of Culture and Tourism said in its latest monthly statistics.