Tokyo stocks snapped a five-day losing streak in a quiet trading session Monday as bargain-buying and a weaker yen lifted the market in the last trading week of 2015.

The market also got a boost after crude prices jumped last week, bouncing off their lowest point in more than a decade, after data showed that U.S. inventories declined and that drillers have idled rigs.

Dubai plans to raise spending by 12 percent next year, balancing that out with identical growth in revenue, on a budget of 46.1 billion dirhams ($12.6 billion), the government said Sunday.

This is the second year in a row that the Gulf emirate will have a deficit-free budget since the 2009 global financial crisis, when it came close to defaulting because of a crash in the real estate market.

The China-backed Asian Infrastructure Investment Bank (AIIB), viewed by some as a rival to the World Bank and Asian Development Bank, was formally established on Friday, according to a statement issued by Beijing.

The United States and Japan -- the world's largest and third-largest economies, respectively -- have notably declined to join the bank, which is expected to begin operations early next year, though others such as Australia, Germany and Britain will take part. 

The Ukrainian parliament on Friday adopted a budget for 2016 with a deficit of 3 percent of GDP, crucial for unlocking much needed aid from the IMF and Western countries.

The budget was passed after an acrimonious all-night debate and was finally approved by 263 lawmakers, about 40 more than the minimum required number.

A luxury apartment in Hong Kong sold for a record HK$594.7 million ($76.7 million), days before Christmas, making it the most expensive flat in the city and possibly in Asia, reports said Friday.

An unidentified buyer paid more than HK$103,700 per-square-foot for the 5,732 square-foot (532 square-metre) unit at the luxury 39 Conduit Road apartment tower in the southern Chinese city's upmarket Mid-Levels residential area, The Apple Daily and The Standard reported.

It may have made its name as the ultimate backpacker destination but Thailand hopes to attract a more well-heeled kind of traveler in the future, its tourism minister said Friday, as the kingdom announced record arrivals for 2015.

The vital tourism industry remains one of the few economic brightspots following a year in which the junta-led government has struggled to kickstart the kingdom's stumbling economy.

A firm owned by a Saudi prince said Thursday it had led a group that invested around $248 million (226 million euros) in U.S. ridesharing service company Lyft.

Kingdom Holding Co, which is 95 percent-owned by billionaire Prince Alwaleed bin Talal, invested $104.9 million in the San Francisco-based startup, it said in a statement.

Oil prices extended their recent rally in Asia on Thursday as a drop in U.S. crude supplies cheered global financial markets ahead of the long Christmas weekend.

The main global contracts for the commodity surged more than 3.5 percent on Wednesday after the U.S. Department of Energy reported inventories unexpectedly fell in the week ending December 18 while imports sank about 13 percent week on week.

Saudi King Salman on Wednesday said he has ordered economic reforms to diversify sources of income and reduce high dependence on oil following a sharp drop in crude prices.

"Our vision for economic reform is to increase the efficiency of public spending, utilize economic resources and boost returns from state investment," he said in an address to the Shura Council.

The EU's top court ruled Wednesday that Scotland's minimum price system for alcohol, designed to stop people "drinking themselves to death," was contrary to EU law.

The European Court of Justice said the measure violated the bloc's single market rules while its objective of reducing alcohol intake would be better achieved by tax measures.