India's central bank chief has said "stubborn" inflation remains a major obstacle to growth in India, dimming expectations of an interest rate cut when policymakers meet next week.

The Reserve Bank of India (RBI) slashed the main interest rate in January for the first time in nine months after a fall in inflation and calls from the government and business leaders for lower borrowing costs.

Chief executives at the largest U.S. companies are much more optimistic about their sales prospects than they were three months ago, though many remain cautious about hiring.

The Business Roundtable said Wednesday that 72 percent of its members expect sales will increase in the next six months. That's up from 58 percent at the end of last year. And 38 percent plan to invest more in plant and equipment, up from 30 percent in October-December quarter, when the Roundtable released its last report.

The Iraqi Oil Ministry says seven international oil companies have qualified to bid for developing a promising oil field and build a refinery in the country's south.

Ministry spokesman Assem Jihad said on Wednesday that the companies will vie for developing the 4.4-billion-barrel Nasiriyah field and the construction of a 300,000 barrel a day refinery nearby. Jihad added that the actual date for receiving bids has not been set yet.

Spanish clothes retailer Inditex, which owns the Zara store chain, has posted a 22 percent increase in net profit in 2012 thanks to growth in eastern Europe and in online sales in Canada and China.

Inditex said Wednesday that profit for last year grew to €2.36 billion ($3.08 billion). Sales were up by 16 percent to €15.9 billion.

After weeks of protests, Bulgaria's new technocrat caretaker government must urgently restore trust in state institutions or risk exacerbating an already dire economic situation in the European Union's poorest country, analysts say.

"If protests continue and political instability drags on, it is set to pose problems for the economy by pushing new investors away and prompting those already here to postpone any development plans," Institute for Market Economics analyst Kaloyan Staykov told Agence France Presse.

The Philippines makes its biggest bet this weekend in a high-stakes bid to join the world's elite gaming destinations, with the launch of a $1.2-billion casino on Manila Bay.

Solaire Manila Resorts is the first of four enormous entertainment venues slated to rise over a giant chunk of prime, reclaimed land that industry and government leaders expect will attract millions of cashed-up Asian tourists.

The cabinet on Tuesday approved the result of the tender organized to operate the Deir Ammar power generation project, which was won by the Greek construction group J&P-Avax.

“The relevant measures will be taken in order to finalize the process of signing the contract,” Information Minister Walid al-Daouq told reporters after a cabinet session at the Grand Serail.

Syria will buy 10 civilian aircraft from Ukrainian manufacturer Antonov for its state-owned airline, the official SANA news agency said on Tuesday.

"Cabinet has approved a contract between Syrian Arab Airlines and Ukrainian manufacturer Antonov for the purchase of 10 civilian aircraft, in a bid to strengthen Syria's fleet," SANA said.

Abu Dhabi struck deals worth billions of dollars with Malaysia on Tuesday, a state-owned company announced, as Kuala Lumpur seeks investment to boost the economy before polls due by June.

The deals were announced after Malaysian Prime Minister Najib Razak met United Arab Emirates (UAE) Crown Prince Sheikh Mohammed bin Zayed al-Nahayan in the administrative capital of Putrajaya, just outside Kuala Lumpur

Italy has easily sold €7.75 billion ($10 billion) in 12-month bonds, though at slightly higher interest rates, in the first test of market sentiment since Fitch downgraded its rating due to political uncertainty.

In Tuesday's auction, Italy paid 1.28 percent interest on the debt, up from 1.09 percent in the last such auction a month earlier. Demand was stronger than in February, however, at 1.5 times the amount on offer.