Oil extended losses in Asian trade Friday after the OPEC cartel refused to cut production despite a global glut that has sent prices slumping to four-year lows, with analysts warning of further falls to come.

US benchmark West Texas Intermediate (WTI) for January delivery was at $68.63 a barrel in late afternoon trade, down 42 cents from its settle price in electronic trading in New York on Thursday. US floor trading was closed due to the Thanksgiving holiday.

Argentina's tax agency has charged British bank HSBC with helping more than 4,000 Argentines to commit tax evasion by stashing money in secret Swiss accounts, officials said Thursday.

The Argentine tax authority (AFIP) said it had searched HSBC offices in Buenos Aires before moving ahead with the charges.

The European Commission was set to unveil a hard-eyed assessment of eurozone economies on Friday, with special attention on overspending France and Italy that risk sanctions by Brussels.

The Commission, the EU's executive branch, delivers official opinions on euro government budget plans under new powers given to Brussels during the eurozone debt crisis.

OPEC's decision against cutting oil production, despite a global glut in supplies, triggered a five-dollar collapse in crude prices and prompted a fall in early trading on Asian markets Friday.

The cartel pumping out one-third of the world's oil opted to stick by its output target, even after prices have plunged by 35 percent in value since June.

OPEC ministers met Thursday to decide whether to slash oil production amid a glut in global supplies, sending crude prices to new lows ahead of their pivotal vote.

The 12-nation oil cartel is under pressure from its poorer members like Venezuela and Ecuador to cut output as collapsing prices have slashed their precious revenues.

Public services ground to a halt in Greece on Thursday as unions launched a general strike in protest at more austerity planned in the coming year.

The walkout came a day after crucial talks between Greece and its EU-IMF creditors failed to break a deadlock on the country's planned budget and reform agenda for 2015.

Pakistan has sold $1 billion in Islamic bonds to raise its foreign exchange reserves in line with IMF demands.

The government had initially planned to float $500 million worth of the bonds -- known as "Sukuk" -- on the global capital market, but was inundated by offers worth $2.3 billion.

An Australian parliamentary committee Thursday recommended strengthening rules on foreign investment in the country's booming housing market, calling enforcement of the current framework "severely lacking".

The committee's review was commissioned this year amid concerns that local buyers were being squeezed out of the residential property market by foreign investors, particularly cashed-up Chinese.

The euro lost more ground in Asia on Thursday after a European Central Bank official's dovish comments boosted speculation about further easing measures, while lacklustre U.S. data weighed on the dollar.

In Tokyo, the European common currency slipped to $1.2503 and 146.71 yen against $1.2506 and 147.22 yen in New York.

Samsung announced Wednesday the $1.7 billion sale of stakes in four affiliates and a $2.0 billion share buyback as the South Korean giant steps up restructuring efforts ahead of a generational ownership succession.

The sale of its petrochemical and defense units to the Hanwha conglomerate, which has major petrochemical holdings, is expected to be finalized in the first half of next year, Samsung Group said in a statement.