Eurozone leaders and the IMF on Saturday announced an unprecedented levy on all deposits in Cypriot banks as the sting in the tail of a 10-billion-euro bailout for the near-bankrupt government in Nicosia.

Eurozone finance ministers and the International Monetary Fund struck a deal early Saturday to bail out Cyprus with aid of up to 10 billion euros, diplomats said after some 10 hours of talks.

Eurozone finance ministers thrashed out a bailout for Cyprus late on Friday, edging towards a new and reduced framework for a fifth member state in the three-year debt crisis.

Sri Lanka's economic growth slowed to 6.4 percent in 2012 from a scorching 8.2 percent the previous year, data showed Friday, hit by declining exports and weaker farm output.

Europe's main stock markets fell on Friday in downbeat pre-weekend trading before the outcome of a major eurozone ministers meeting aiming to agree a bailout for the Cyprus government, dealers said.

London shares closed in the red on Friday in downbeat pre-weekend deals before the outcome of a major eurozone ministers meeting that seeks to agree a bailout for the Cyprus government.

Japan's hard-charging prime minister on Friday said he wanted in on talks to forge a huge trade pact, the latest bold move from a man who says he is determined to lick the frail economy into shape.

Spain's King Juan Carlos has been plagued by health problems and unprecedented family scandals that have undercut public confidence in the monarchy during a bruising recession, but analysts say he is unlikely to abdicate anytime soon.

Europe's main stock markets fell on Friday in downbeat pre-weekend deals before the outcome of a major eurozone ministers meeting that seeks to agree a bailout for the Cyprus government, dealers said.

US consumer sentiment sank this month after a surge in February, a key index showed Friday, possibly pointing to a slowing of household spending.

China's new premier Li Keqiang has risen from relatively humble roots to take charge of running the government of the world's second-largest economy, but could struggle to enforce his will.

Italy's new parliament met on Friday for the first time since a deadlocked election in February, amid increasing pressure to seek a way out of an impasse which has left the eurozone's third largest economy without a government.

Europe's main stock markets fell on Friday in downbeat pre-weekend deals before the outcome of a major European Union summit that seeks to agree a bailout for the Cyprus government, dealers said.

Inflation in the 17-nation eurozone fell sharply in February to 1.8 percent, putting it below the European Central Bank's target rate for the first time in more than two years, official data showed on Friday.

New private home sales in Singapore plunged 65 percent in February from a month before as market cooling measures and the Lunar New Year holidays kept buyers away, official data showed Friday.

Prime Minister Shinzo Abe said Friday that Japan wants to take part in talks aimed at forging a huge free trade agreement that could involve 40 percent of the world's economy.

London shares were steady in early trade on Friday, consolidating recent gains after US stocks again flirted with record highs overnight, dealers said.

The International Monetary Fund (IMF) called for "urgent action" to help revive the Palestinian economy, saying it had been choked by Israeli restrictions and political uncertainty.

Eurozone veteran Jean-Claude Juncker said Friday that Eurogroup finance ministers meeting later in the day must agree on a bailout for the near-bankrupt Cyprus government.

Governments and agencies must be wary of drowning Myanmar with well-intentioned but ill-targeted aid, experts have warned, admonishing the global community to "first do no harm."