Asian markets rallied on Monday as fears over a military strike on Syria receded after the United States and Russia agreed a deal that will see the Assad regime give up its chemical weapons.

Trade remained cautious, however, ahead of a two-day meeting at the U.S. Federal Reserve where policymakers are expected to begin winding down the bank's stimulus program.

Faced with bitter opposition, former U.S. treasury secretary Larry Summers abruptly withdrew from the race to lead the Federal Reserve, potentially opening the door for the bank's first woman chair.

Sunday's surprise announcement came after weeks of speculation and no little ire over his bid to succeed Ben Bernanke, but his candidacy was ultimately felled by a lack of support from key senators.

Japanese automaker Nissan plans to begin producing small cars and trucks in Myanmar with its Malaysian partner as early as this year, the Nikkei business daily reported Monday.

Nissan Motor and Malaysia's Tan Chong Motor Holdings Bhd will jointly produce several thousand small passenger cars and pickup trucks a year in the Southeast Asian country, the newspaper said without citing sources.

Kosovo on Saturday lifted a ban on imports from neighboring Macedonia, further defusing a trade row between the Balkan countries.

"The decision (on the ban) of the import from Macedonia will be repealed from this midnight," (2200 GMT), the trade ministry said in a statement.

China's Xi Jinping at a regional summit signed a deal to build a gas pipeline through the impoverished ex-Soviet country of Tajikistan, Tajik television reported Saturday.

The pipeline will transport gas from energy-rich Turkmenistan to China in as part of a huge supply deal.

EU finance ministers discussed Saturday how to close down failing banks before they damage the wider economy, a divisive issue for those wary of giving Brussels more power.

Sharp differences emerged Friday at informal talks in Vilnius over a planned Banking Union, the new regulatory framework meant to ensure that the taxpayer no longer foots the bill for bailing out over-extended banks.

Around 100,000 angry Polish trade unionists marched through Warsaw Saturday in the finale of a four-day protest against the unpopular and increasingly fragile center-right government.

The protest reflects widespread public gloom over a sharp economic slowdown in Poland, which has sent the coalition's popularity plunging to its lowest level since Prime Minister Donald Tusk took office in 2007.

Spain's accumulated public debt soared to a record high at the end of June, the Bank of Spain said Friday, shattering government targets despite a relentless austerity squeeze.

Spain, which boasts the eurozone's fourth largest economy, had racked up an unprecedented public debt of 942.8 billion euros ($1.3 trillion) by mid year, the bank said.

British police said Friday they have arrested 12 men over a "sophisticated" plot to remotely take control of a computer at a branch of Santander bank and steal millions of pounds.

Police found a device fitted to a computer in a branch of the bank in London which would have enabled the suspects to download data from the desktop machine.

Eurozone finance ministers meet in calmer times Friday but still need to ensure bailed-out member states meet their targets amid growing speculation some will need more help to get back on track.

The informal talks are overshadowed by upcoming elections in Germany, the 17-nation bloc's paymaster and most powerful economy where the prospect of any more taxpayer funded rescues is hugely unpopular.