India will break ground next month on its first semiconductor assembly plant and begin producing its first domestically manufactured microchips by the end of 2024, the Financial Times reported on Wednesday.

China’s export controls on metals used in making semiconductors are “just a start”, an influential Chinese trade policy adviser said on Wednesday, as it ramps up a tech fight with the US days before US Treasury Secretary Janet Yellen visits Beijing.

Euro zone consumers in May cut their inflation expectations again for the following 12 months, although they still saw prices growing faster than the European Central Bank (ECB) would like for years to come, a new ECB poll showed on Wednesday.

Opec+, a group comprising the Organization of the Petroleum Exporting Countries and allies including Russia that pumps around 40 per cent of the world’s crude, has been cutting oil output since November in the face of flagging prices.

Additional oil output and export cuts made by Saudi Arabia and Russia earlier this week should be enough to help balance the oil market, United Arab Emirates’ energy minister Suhail Al Mazrouei told reporters on Wednesday.

The European Commission expressed concern on Tuesday over China’s planned curbs on exports of strategic metals widely used in the semiconductor industry and doubt that the move was related to security.

German exports dipped in May after a small rebound in April, official data showed Tuesday, adding to a gloomier outlook for Europe’s biggest economy.

Oil prices ticked higher on Tuesday as markets weighed supply cuts for August by top exporters Saudi Arabia and Russia against a weak global economic outlook.

The United Nations is convening this week a global gathering to try to map out the frontiers of artificial intelligence and to harness its potential for empowering humanity.

Chinese smartphones dominated the Russian market in the first half of 2023, exceeding 70 percent of all sales, leading consumer electronics retailer M.Video-Eldorado said, up from about 55 percent last year.

Meta Platforms plans to launch a Twitter-rivalling microblogging app called Threads, days after Twitter boss Elon Musk attracted criticism by announcing a temporary cap on how many posts users can read on the social media site.

Oil and gas companies have intensified the hunt for new deposits in a long-term bet on demand, as they reinvest some of the record profits from the fossil fuel price surge driven by the Ukraine war, according to data and industry executives.

Tesla Inc on Sunday said it delivered a record number of vehicles in the second quarter, topping market estimates as price cuts and US federal credits helped make its electric vehicles more affordable.

Pakistan’s headline inflation eased for the first time in seven months in June, figures released Monday showed, a bright spot for a beleaguered government that must call an election this year.

The Indian rupee climbed to a near two-month high versus the US currency on Monday on the back of dollar offers by foreign banks, traders said.

Asia’s factory activity slumped in June, business surveys showed on Monday, as sluggish demand in China and advanced nations clouded the outlook for the region’s exporters.

The European Union (EU) will deepen cooperation with Japan on semiconductors, industry chief Thierry Breton said on Monday, as countries move to strengthen control over a technology vital for the defence, electronic and automotive sectors.

Indian refiners have begun paying for some oil imports from Russia in Chinese yuan, sources with direct knowledge of the matter said, as Western sanctions force Moscow and its customers to find alternatives to the dollar for settling payments.

Indian refiners have begun paying for some oil imports from Russia in Chinese yuan, sources with direct knowledge of the matter said, as Western sanctions force Moscow and its customers to find alternatives to the dollar for settling payments.

Saudi Arabia and Russia, the world's biggest oil exporters, deepened oil cuts on Monday, sending prices higher despite concerns over a global economic slowdown and possible further interest rate hikes from the US Federal Reserve.