It is 4.3% higher than last year

Fitch has downgraded to junk the credit rating of a subsidiary of Chinese property giant Country Garden, citing “heightened liquidity pressure” at the troubled firm.

Oil prices steadied after earlier declines on Thursday caused by disappointing economic data from key economies, with investors awaiting a speech by US Federal Reserve Chair Jerome Powell on Friday for clues on interest rate moves.

The number of Americans filing new claims for unemployment benefits fell last week, as labour market conditions remained tight despite the Federal Reserve’s aggressive interest rate hikes.

India’s diesel exports to Singapore are set to hit a 19-month high in August and exceed 330,000 metric tons, boosted by cheaper freight costs and low inventories in the Asian oil hub, traders and analysts said.

Kuwait’s economic recovery is ongoing but risks to the oil producer’s outlook “remain substantial” and gridlock between the government and parliament continues to delay reforms, the International Monetary Fund said on Wednesday.

Sri Lanka’s central bank on Thursday capped maximum lending rates after accusing commercial banks of failing to pass on benefits of a relaxed monetary policy to borrowers.

Saudi Arabia will likely roll over a voluntary oil cut of 1 million barrels per day for a third consecutive month into October, five analysts said, amid uncertainty about supplies and as the kingdom targets drawing down global inventories further.

From tomorrow, a bhori of 22-carat gold will cost of Tk 101,243

The countries are: China, Egypt, Pakistan, Qatar, Turkey, Myanmar, Thailand, the Netherlands and the UAE

Developing Asia consists of 46 economies in the Asia-Pacific and excludes Japan, Australia and New Zealand.

Britain’s economy looks on course to shrink during the current quarter and risks falling into a recession, as a survey on Wednesday showed a slump in factory output and broader weakness in the face of higher interest rates.

German business activity contracted at the fastest pace for more than three years in August, a preliminary survey showed on Wednesday.

Oil prices dropped on Wednesday, as traders were cautious ahead of potentially gloomy manufacturing data and an annual meeting at Jackson Hole, where heavy-hitter central bankers including from the United States will talk interest rates.

South Africa and China on Wednesday signed deals covering emissions technology, electricity transmission and distribution, and nuclear power on the sidelines of the BRICS summit.

The world’s biggest digital companies will have nowhere to hide starting Friday, when the toughest EU rules on online content since social media first burst onto the scene enter into force.

The eurozone economy is contracting at its fastest rate in three years as a steep decline in manufacturing begins to spread to services, a key survey said Wednesday.

Xiaomi Corp has won the approval of China’s state planner to manufacture electric vehicles (EVs), said two people with knowledge of the matter, marking a major step towards the smartphone maker’s goal of producing cars by early next year.

Global gas prices could rise in the short term if strikes at Australia’s liquefied natural gas (LNG) plants take place, but markets are well balanced now with inventory levels keeping high in North Asia and Europe, a Shell executive said on Wednesday.

A lack of rain has cut cane yields in India