India’s federal government will borrow $22 billion from the market to compensate the country’s states for a shortfall in tax receipts this fiscal year, but it deferred cutting taxes on medicines and medical equipments used to treat coronavirus patients.

The Biden administration is unlikely to remove tariffs on Chinese goods in the short term, but China and the United States might find a middle ground by increasing tariff exclusions as a way to reduce tensions, a Chinese think-tank said.

South Korea’s Posco International said on Friday it is reviewing dividend payments on a gas project in Myanmar, in a move that could further constrain funding to the military junta, which seized control of the country in a February 1 coup.

Quarantine-free travel bubbles were hailed as tourism’s “godsend” earlier this year, but cancellations and suspensions have deflated hopes they will herald a return to pre-pandemic normality.

HSBC announced it is withdrawing from US mass market retail banking by selling some parts of the money-losing business and winding down others, a long-awaited move as the lender steps up a shift in focus to Asia, its biggest market. Europe’s biggest bank has for years been trying to shrink its presence in some European and North American markets where it has struggled against competition from larger domestic players.

Earnings at China’s industrial firms grew at a slower pace in April, with high commodity prices and weaker performance in the consumer goods sector limiting overall profitability from manufacturing.

US Trade Representative Katherine Tai said on Wednesday that the United States still faces “very large challenges” in its trade and economic relationship with China that require the Biden administration’s attention across the board.

Gold has snuck back on to the radar screens of investors thanks to increased concern about inflation pressures, but the precious metal also appears to be getting a boost from renewed interest from the top two physical buyers, China and India.

Germany’s antitrust regulator said Tuesday it has opened an investigation into Google over anti-competitive practices, wielding a new law that has already been used to scrutinise other US tech giants.

China’s Huawei Technologies said it will launch its new Harmony operating system for smartphones on June 2, its biggest move yet aimed at recovering from the damage done by US sanctions to its mobile phone business.

US Treasury Deputy Secretary Wally Adeyemo said he expects strong backing from G7 peers for Washington’s proposed 15 per cent-plus global minimum corporate tax, which should help solidify support in the US Congress for domestic corporate tax legislation.

Cryptocurrency miners, including HashCow and BTC.TOP, have halted all or part of their China operations after Beijing intensified a crackdown on bitcoin mining and trading, hammering digital currencies amid heightened global regulatory scrutiny.

If suppliers in China fail to pick up freight containers to fill an order for MediaShop, Marcel Schneider gets an alert via a digital freight system, allowing the retailer to reach out and fix the problem swiftly.

India’s largest steel producer, JSW Steel, is considering a bid to buy Liberty Steel in Britain as well as mills elsewhere, two people familiar with the matter told Reuters, as would-be buyers circle Sanjeev Gupta’s global commodities empire.

Special allocation is needed for the cottage, micro, small, and medium enterprises (CMSMEs) in the upcoming budget to recover the losses induced by the Covid-19 pandemic, speakers said at a webinar yesterday.

Germany wants the European Union to create a “climate club” with other countries like the United States, Japan and possibly even China to avoid trade friction linked to green tariffs such as a planned carbon border levy.

The killing of George Floyd prompted a wave of promises from corporate America to advance racial equity. Nearly a year later, large US companies are under pressure to show progress on fulfilling those promises.

After dealing with two coronavirus funerals in two weeks, Raj Sharma was too grief-stricken to negotiate a third with profiteering hearse drivers and crematoriums, so he turned to one of the many new businesses that have sprung up around India helping struggling people while also turning a tidy profit.

Bitcoin fell by 8.9 per cent to $34,156 at 1000 GMT on Sunday, losing $3,344.54 from its previous close.

The US energy regulator on Thursday ordered GreenHat Energy LLC to pay $229 million in civil penalties and $13.1 million in unjust profits on allegations of electric market manipulation.