Oil dropped by more than 1 per cent on Monday after weaker than expected Chinese economic growth fuelled concern over demand in the world’s second-biggest oil consumer while a partial restart of halted Libyan output also pressured.

The UK government on Sunday hailed what it said was its biggest trade deal since Brexit, as it formally signed a treaty to join a major Indo-Pacific bloc.

Ukraine’s trade deficit grew to $8.97 billion in the first five months of the year compared with a deficit of about $1 billion posted in the same period a year ago, the statistics service said on Friday.

Russian oil exports from western ports are set to fall by some 100,000-200,000 barrels per day next month from July levels, a sign Moscow is making good on its pledge for fresh supply cuts in tandem with Opec leader Saudi Arabia, two sources said on Friday, citing export plans.

Britain’s economy shrank by less than expected in May despite a bank holiday to mark King Charles’ coronation and strikes, suggesting a widely forecast recession caused by high inflation and surging interest rates was not already under way.

A sliding dollar came under more pressure on Thursday, as traders took surprisingly slow US inflation as a signal US interest rate rises will be all but finished by month’s end.

Global public debt surged to a record $92 trillion in 2022 as governments borrowed to counter crises, such as the Covid-19 pandemic, with the burden being felt acutely by developing countries, a United Nations report said.

UK unemployment rose back to four per cent in the three months to the end of May, official data showed Tuesday, as the economy struggles with stubbornly-high inflation.

The world’s wealthiest nations must urgently prepare for the impact of an imminent “AI revolution” that will change jobs, create new ones and make others disappear, the OECD said Tuesday.

The dollar steadied on Monday, partly recovering from a knee-jerk reaction to Friday data showing US job gains were the smallest in 2-1/2 years, while disappointing inflation figures in China weighed on the yuan and proxies.

The European Union and New Zealand on Sunday signed a free trade agreement which Brussels says can lift exchanges between the two by 30 per cent with a decade.

German industrial production unexpectedly fell in May, official data showed Friday, raising fears of a prolonged downturn in Europe’s top economy.

The Ministry of Planning and Investment has reported that Việt Nam’s socio-economic situation has been experiencing gradual and positive changes, with steady growth observed in several important indicators and indexes month by month.

Finance minister Jeremy Hunt is on Monday due to announce new measures to support Britain’s powerful financial sector, seeking to make the UK the “most innovative and competitive” financial centre in the world.

French Finance Minister Bruno Le Maire on Sunday said he was “very hopeful” Tesla Chief Executive Elon Musk will pick France for a substantial investment linked to the production of electric vehicles in Europe.

Canada’s economy added far more jobs than expected in June, data showed on Friday, a result analysts said probably seals the deal for another Bank of Canada (BoC) interest rate hike next week.

Turkey expects Gulf countries to make direct investments of about $10 billion initially in domestic assets as part of President Tayyip Erdogan’s trip to the region in two weeks, according to two senior Turkish officials.

British regulator the Financial Conduct Authority (FCA) said on Thursday that banks need to accelerate rate rises for savers, but said it was not up to the watchdog to dictate pricing.

Oil prices were little changed on Thursday as the market digested tighter crude supply alongside fears of global economic slowdown.

German industrial orders rose significantly in May, official data showed Tuesday, despite concerns that Europe’s largest economy was set for a period of subdued growth.