Oil prices rebounded in Asia Wednesday after a two-day sell-off fanned by concerns over planned talks between major producers to freeze output.

Both main contracts tumbled around five percent on Monday and Tuesday, after Iran said at the weekend it would not join the talks until its production had hit 4.0 million barrels per day.

Oil extended its decline in Asia Tuesday as hopes faded that major crude producers would freeze output to ease a world surplus, sending Brent crude back below $40.

A meeting proposed by Russia and Saudi Arabia to discuss output limits has been pushed back to April from March 20, after signs that some key producing nations do not support the move.

Bangladesh's central bank chief resigned on Tuesday, after hackers stole $81 million from the nation's foreign reserves in one of the biggest bank heists in history, the finance minister said.

The audacious cyber-theft has embarrassed the government, triggered outrage in the impoverished country and raised alarm over the security of the country's foreign exchange reserves of over $27 billion.

World oil prices fell sharply on Monday after Iran reportedly announced over the weekend that it would not to join a proposed output freeze by crude producers.

Flights between Britain and Europe could jump in price if the country votes to leave the European Union, according to a report commissioned by the Association of British Travel Agents released on Monday.

Egypt's central bank said on Monday it had devalued the Egyptian pound by 14.3 percent to 8.95 to the U.S. dollar to face "challenges" emerging from declining foreign currency inflows.

The bank has been battling an acute U.S. dollar shortage over the past few months, with the local currency often trading at a rate of almost 10 pounds to a dollar on the black market.

Belgian insurer Ageas announced Monday a proposed 1.2 billion-euro settlement with shareholders to cover losses following the dismantlement of the Fortis bank insurance group during the 2008 financial crisis.

"Ageas agreed to pay a global amount of 1.204 billion euros ($1.338 billion) to eligible shareholders without admitting any wrongdoing," it said in a statement issued in Brussels.

Oil prices dipped in Asia Monday on profit-taking following last week's rise and Iran's move not to join a proposed output freeze by crude producers.

At around 0620 GMT, U.S. benchmark West Texas Intermediate (WTI) for delivery in April was down 21 cents to $38.29 and Brent crude for May was down four cents at $40.35. 

Teachers at public schools in the West Bank were back at work on Sunday after suspending a three-week strike that challenged the cash-strapped Palestinian Authority.

British finance minister George Osborne warned Sunday of further spending cuts to come in the government budget to be unveiled this week.

The chancellor of the exchequer said he needed to find savings by 2020 equivalent to 50 pence in every £100 the government spends.