Newly arrived in the city of Tabriz in northwestern Iran, Corneilis Vamoorschot wanted to change his euros into rials, but quickly realized it wouldn't be a simple task.

Turkey's inflation rate edged up to almost 11 percent in April, official statistics showed Thursday, adding to fears that the economy is overheating less than two months ahead of elections.

Asian markets struggled Thursday following a sell-off in New York as investors keep an eye on top-level talks between China and the United States on trade, while the dollar's latest rally lost a little steam.

The EU's latest budget proposal handed French President Emmanuel Macron a small victory on Wednesday by including a watered down version of the young leader's idea of a eurozone budget.

The European Commission, the EU's executive arm, unveiled its massive 1.279-trillion euro budget for the next seven years with several innovations including cuts on farm spending and funding for countries that fail to respect democratic standards.

The European Union unveils plans Wednesday for its first post-Brexit multi-year budget facing a looming clash with Poland and Hungary over a proposal to link funds to respect for the rule of law.

Warsaw and Budapest, locked in battle with Brussels over democratic standards and their refusal to accept refugees, oppose any attempt to impose conditions on the billions in funds they get from the bloc.

Lisbon's azure skies are dotted with forests of cranes as scores of construction workers give Portugal's capital a shiny and new, if pricey, veneer.

The International Monetary Fund on Wednesday warned Arab states against complacency over a looming debt crisis, urging continued economic reforms despite a rise in oil prices. 

The European Commission said Tuesday the United States had merely prolonged "market uncertainty" by its decision to hold off on imposing controversial tariffs on steel and aluminium from the EU, Canada and Mexico.

Australia's central bank kept interest rates at a record low Tuesday for a 19th consecutive meeting, unwilling to make any move ahead of the national budget next week.

Hong Kong led a rally across most Asian markets on Monday as traders brushed off a slowdown in the US economy, while the boost from last week's historic North-South Korea summit continued to support Seoul and the won.