Kuwait's state-run oil firm has signed contracts to import 2.5 million tons of liquefied natural gas a year through 2020 to meet the emirate's needs, a company official said on Thursday.

OPEC member Kuwait is rich in crude oil but its natural gas production is too small to meet its needs, which surge during the heat of the summer when power consumption soars.

Flights in Greece were at a standstill on Thursday after air traffic controllers called a 24-hour strike over pension reforms sought by the country's creditors.

The head of a Austrian regional bank became on Thursday the latest casualty of the Panama Papers scandal, announcing his resignation but denying any wrongdoing.

France's trade deficit widened in February to a 20-month high of 5.2 billion euros ($5.6 bn), up 1.3 billion on the previous month, driven by higher auto and aerospace imports, the customs office said Thursday.

A group of Indian banks rejected Thursday embattled businessman Vijay Mallya's offer to repay $600 million in unpaid loans, less than half of what his defunct airline owes them.

The banks told the Supreme Court in New Delhi that they wanted the 60-year-old flamboyant entrepreneur to return to India so they could negotiate with him personally over the total $1.3 billion owed.

Ukrainian Prime Minister Arseniy Yatsenyuk said on Tuesday he intended to introduce a ban on oil product imports from petro-giant Russia as part of Kiev's festering trade war with Moscow.

The head of Malaysia Airlines said Wednesday the carrier recorded a profit in February, its first positive monthly result in years, and is on track to return to the black by 2018.

In an interview with The Associated Press, CEO Christoph Mueller described the airline as a "ship that has many leaks," but said the monthly profit was a sign that things are on the right track.

Swedish clothing retailer Hennes et Mauritz (H&M) on Wednesday posted first quarter profits down almost 30 percent on a strong dollar and mild weather hitting its winter collection.

The Stockholm-based fast fashion firm said December through February profits came in at 2.54 billion kronor (275 million euros/$310 million), down from 3.61 billion a year earlier albeit slightly ahead of analysts' forecasts.

Shares in Air France-KLM went into freefall on Wednesday, a day after the company said Alexandre de Juniac is to resign as chairman and CEO to take charge of aviation industry group IATA.

Juniac helped Europe's second biggest airline group return to profit last year for the first time since 2008, but his four-year spell at the helm was also marked by acrimonious relations with pilots.

Oil prices climbed in Asia Wednesday after Kuwait said an agreement to freeze output during a producers' meeting this month could still be reached despite conflicting statements by participants.

But analysts said the rebound would not likely last owing to a painful supply glut and weak demand caused by the slowing world economy.