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Asian markets fell on Monday on pessimism over whether a European summit this week will come up with a plan to address the region’s crippling debt crisis.

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European shares hit a one-week low on Monday as global growth concerns and muted expectations that this week’s European Union summit will yield significant measures to tackle the euro zone crisis hurt sentiment, with charts pointing to further losses.

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Dubai-based financial services and investment group, Saffar, said Monday it has sold its online Mideast business news service Zawya to Thomson Reuters.

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World stocks fell on Monday as investors grew cautious ahead of a critical European Union summit later this week where Greek leaders will attempt to renegotiate some terms of the country’s international bailout.

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India’s measures to prop up the embattled rupee will have limited impact on the currency in the short run, the prime minister’s top economic adviser C. Rangarajan told television channels on Monday.

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Nissan Motor Corp. announced plans Monday for an $800 million factory in China’s northeast as part of efforts to expand sales in the world’s biggest auto market.

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Samsung Electronics Co., the world’s top mobile phone maker, said Monday it expects global sales of the latest Galaxy smartphone to surpass 10 million in July even as it struggles to keep up with demand because of component shortages.

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Prime Minister Manmohan Singh was overseas and his outgoing finance minister was clearing his desk last week as the government quietly began preparing the ground for a new push to open up India’s $450 billion retail sector to foreign firms.

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Greece wants tax cuts, extra help for the poor and unemployed, a freeze on public sector lay-offs and more time to cut its deficit under a plan likely to run into strong opposition at a European Union summit next week.

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