Russian oil giant Rosneft said Wednesday that low oil prices in the first quarter of the year had haemorrhaged its profits, with tumbled by 80 percent.

A worried World Bank slashed its growth forecast for the global economy Tuesday, saying advanced economies are rebounding more slowly than expected and low commodity prices continue to hurt other countries.

SIGNS are emerging that a downturn in the United States and China, the world's two biggest economies, may have bottomed out, the OECD's monthly leading indicator showed on Wednesday.

Germany Wednesday moved to slow the rapid growth of subsidised renewable energy to cap rising costs, drawing fire from environmentalists who charged it is betraying its ambitious climate goals.

Amazon chief executive Jeff Bezos has pledged to invest $3 billion in India, in a big bet on the growth of online shopping in the fast-growing South Asian economy.

Prosecutors on Wednesday raided Daewoo Shipbuilding and Marine Engineering Co., one of South Korea's three giant shipbuilders, as part of a probe into a $2 billion accounting fraud.

Japan's economy expanded at a slightly faster pace than first thought, revised figures showed Wednesday, knocking hopes that the central bank will unleash fresh stimulus this month.

The EU warned Thailand on Tuesday to take "swift and determined" action against illegal fishing, or risk a European ban on its fish exports.

HSBC is to restructure its global banking division to cut costs and make the business more "agile", according to an internal memo seen by Reuters on Monday.

Van Biak had only been away from her family in Leilet in north west Myanmar for two weeks, but her mother was in tears as they embraced on the veranda.

Qatar has reassured India that labour reforms will improve the conditions of more than half a million Indian migrants, after Prime Minister Narendra Modi raised concerns of abuses during a weekend visit to the Gulf state, a statement said on Monday.

Ratings firm S&P Global Ratings said on Monday it does not see South Africa's economy slipping into a recession soon but warned that economic reforms had to be implemented to avoid a downgrade in December.

Saudi officials have finalised a detailed plan to diversify the kingdom's economy away from oil and have sent it for cabinet approval, official media said on Monday.

India is committed to protecting state banks suffering from mounting bad loans after they reported almost $2.7 billion in losses in the last two quarters, Finance Minister Arun Jaitley said Monday.

More than 25 European and Asian-owned supertankers are shipping Iranian oil, data seen by Reuters shows, allowing Tehran to ramp up exports much faster than analysts had expected following the lifting of sanctions in January.

China's indigenous automotive brands lack pricing power and lag established global brands in major market segments such as sedans, challenges that are slowing their otherwise rapid ascent in the world's biggest auto market, an industry executive said.

Saudi Arabia promised on Thursday not to flood the oil market with extra barrels as Opec entered a heated debate about production policy, with Iran insisting on the right to raise output steeply.

Regulators in Hong Kong and Singapore have asked banks doing business there to disclose if they have dealings with entities and

The US Federal Reserve detected more than 50 cyber breaches between 2011 and 2015, with several incidents described internally as "espionage," according to Fed records.

The Philippine central bank said on Wednesday it had revoked the licence of a remittance company that anti-money laundering investigators said was used to transfer some of the $81 million hackers looted from the Bangladesh central bank.