Finance News Update, what you need to know

WORLD FINANCE UPDATE:

The Australian dollar is weaker as the US greenback benefits from a faltering euro.

At 0630 AEDT on Monday, the local currency was trading at 76.23 US cents, down from 76.75 cents on Friday.

And the Australian share market looks set to open lower after Wall Street fell on renewed anxiety over falling oil prices and the rising US dollar.

At 0645 AEDT on Monday, the March share price index futures contract was down 11 points at 5,801.

ELSEWHERE:

ATHENS - Greece's combative finance minister has indicated that Athens' new radical left government is prepared to put some of its campaign promises on hold while it seeks to build confidence among its creditors.

KIEV - Ukraine has received the first $US5 billion ($A6.50 billion) tranche of the International Monetary Fund's bailout for its troubled economy.

WASHINGTON - US producer prices fell for the fourth consecutive month in February, new Labor Department data shows.

BRUSSELS - EU Commission chief Jean-Claude Juncker has warned of an alarming lack of progress in talks on Greece's bailout, as Germany raised the spectre of a Greek exit from the euro.

SHARM EL SHEIKH, Egypt - Egypt's prime minister says his country has agreed $US36.2 billion ($A47.03 billion) in investment deals.

SHARM EL SHEIKH, Egypt - Egypt plans to build a new administrative and business capital east of Cairo that will house five million people and feature a theme park "four times bigger than Disneyland," a minister has announced at a global investor conference.

SHARM EL SHEIKH, Egypt - Saudi Arabia, Kuwait and the United Arab Emirates have pledged a combined $US12 billion ($A15.59 billion) in aid and investment to help Egypt's struggling economy.

BEIJING - Britain has become the first major Western government to apply for membership in a proposed Chinese-led Asian regional bank.

FRANKFURT - Deutsche Bank, Germany's largest bank, and two investment firms are buying the consumer lending business of GE Capital Australia and New Zealand.

OSLO - Norway's sovereign wealth fund, the biggest in the world, has nearly doubled in three years, the central bank says.