Oil prices rebounded from near 2017 lows on Wednesday after preliminary data showed a much larger-than-expected fall in US crude stocks, reviving bullish sentiment about easing oversupply.

China is expected this week to conduct the maiden test flight of a home-grown passenger jet built to meet soaring domestic travel demand and challenge the dominance of Boeing and Airbus.

European Union countries agreed on Wednesday new rules to combat dumping, a move that targets cheap imports of products such as steel from Chinese manufacturers.

China will boost authenticity and compliance checks on trade and investment this year, its forex regulator said on Wednesday, and increase checks and punishment on illegal forex activities.

The Chinese yuan and Indian rupee are expected to weaken against the dollar over the coming year, a Reuters poll found, with the greenback supported by US interest rate hikes, though analysts have trimmed their bearish bets on Asian currencies from the previous poll.

With a booming trade in diamond cutting and textile manufacturing, the port city of Surat in India's western state of Gujarat is a melting pot for migrants from across the country seeking work and business opportunities.

Preparing a meeting of the Group of 20 economic powers is like "herding cats", German Chancellor Angela Merkel said on Wednesday as her officials try to reach consensus among the group ahead of a leaders' summit she will host in July.

It is a sign of Apple's success but also a thorny problem: its cash stockpile has hit a staggering $256.8 billion, sparking debate on what do with such massive reserves.

Despite an agreement reached Tuesday on a reform package, Europe still needs to provide "credible" debt relief to Greece before the International Monetary Fund can provide more financing, an IMF official said.

US bank JPMorgan will move hundreds of staff from London to Dublin, Frankfurt and Luxembourg as part of their Brexit plans, the firm's head of investment banking said Wednesday.

Samsung Electronics is predicted to become the world’s largest chipmaker in the coming quarter, displacing Intel, which has retained the top spot for the past 24 years.

Uber's local unit in South Korea was fined Wednesday for operating an illegal taxi service, in the US firm's latest brush with authorities.

The German government upgraded its economic forecast for 2017 slightly Wednesday, saying that strong domestic consumption would increase growth and bring down its much-criticised trade surplus.

India's Finance Minister Arun Jaitley said on Wednesday that the government has no plans to tax agricultural income, a day after a senior economic adviser touched a political nerve by proposing farmers pay income tax like people in cities.

Alibaba Executive Chairman Jack Ma said on Tuesday the Internet should be a utility available to the whole world, putting his weight behind a UN call for e-commerce to boost developing economies and help fight poverty.

Some businessmen in Mosul have begun rebuilding their shattered premises without waiting for financial support from the cash-strapped Iraqi government or for the final defeat of Islamic State in the city.

More than a third of Europeans and Americans would be happy to go without cash and rely on electronic forms of payment if they could, and at least 20 percent already pretty much do so, a study showed on Wednesday.

Procter & Gamble reported declines in both sales and profits Wednesday, saying challenging geopolitical and economic conditions hit consumer demand.

Legions of Japanese crisps addicts are suffering and it doesn't look like they'll be getting their full fix anytime soon.

The pace of expansion in China's manufacturing sector likely slowed in April, a Reuters poll showed, as factory-gate price lost steam and authorities moved to tackle risks in the property market and credit growth.