China’s state-controlled Shaanxi Yanchang Petroleum Group is expected to double its purchases of Russian ESPO blend this year to about one million metric tons, according to two sources familiar with the plant’s operations.

Oil prices hovered near their highest levels since mid-April after top producers Saudi Arabia and Russia pledged to extend supply cuts through September, further tightening supplies.

The dollar was on the defensive on Monday after a mixed US jobs report provided little directional conviction and as market focus turned to inflation data from the world's two largest economies due this week.

China’s direct economic losses from natural disasters surged to 41.18 billion yuan ($5.74 billion) in July, more than in January to June combined, driven by severe weather as two powerful typhoons hit the country in one month.

Surging US crude exports in 2023 are pushing down oil prices in Europe and Asia, proving a key source of supply as producers cut output and sanctions on Russian crude disrupt trade flows.

Factory worker Lubna Babar was made redundant at the beginning of the year, a victim of a crisis in the Pakistan textile industry that has seen it lose ground to more nimble Asian competitors.

A US central bank official said Saturday that more interest rate hikes “will likely be needed” to bring inflation down further, shortly after policymakers lifted rates to the highest level since 2001.

Indian companies are showing keen interest to invest in Bangladesh’s healthcare, education and energy sectors, with the country’s market size becoming bigger and the connectivity between the two neighbours stronger.

Two measures of corporate and economic health were flashing red on Friday as shipping group Maersk reported a fall in global demand for sea containers and advertising giant WPP said clients in the US tech sector were slashing their marketing spend.

JPMorgan's chief economist said on Friday the bank is no longer forecasting a US recession this year and has raised its economic growth estimate as the economy expands at a "healthy pace."

US bank JPMorgan (JPM.N) this week stopped processing payments for the Russian Agricultural Bank, Russia said on Friday, as it demanded action, not promises, from Washington to help Russian grain and fertilizer reach global markets.

China will allow some foreigners to obtain visas on arrival and rural residents to settle more easily in cities as part of a series of measures aimed at boosting its flagging economy.

India is considering cutting or even abolishing a 40 percent import tax on wheat and lowering a limit on the amount of wheat stocks millers and traders can hold, a government official said on Friday, as part of efforts to boost supplies.

Maersk, the world’s second-largest container shipping firm, said Friday it expects shipping volumes to fall this year as companies continue to reduce inventories.

Countries around the world are battling heatwaves and floods fuelled by El Nino, a naturally occurring climate phenomenon that has a 90 per cert probability of persisting in the second half of 2023, according to the World Meteorological Organization.

China is losing importance as a market for German exporters, with data showing a steady decline in its share of total exports, a trend set to continue as Berlin and Beijing rethink their economic ties.

Indian farmers have planted 28.3 million hectares (69.9 million acres) with summer-sown rice, according to the farm ministry's latest data, up 3.28 percent from the same period last year, as robust monsoon rains encouraged the expansion of acreage.

Countries around the world are battling heatwaves and floods fuelled by El Nino, a naturally occurring climate phenomenon that has a 90 per cert probability of persisting in the second half of 2023, according to the World Meteorological Organization.

India’s dominant services sector expanded at its fastest pace in 13 years last month as demand increased significantly despite elevated inflationary pressures, a business survey showed on Thursday.

The United States remains confident that the Group of Seven’s price cap on Russian oil is working to squeeze Moscow’s revenues and stabilize energy markets despite a recent upturn in prices, a senior US Treasury official said on Thursday.