Oil prices edged lower on Tuesday in volatile trade as weak demand data from China and a gloomy economic outlook weighed.

US retail sales rose 7.6 per cent between November 1 and December 24, which encompasses a majority of the holiday season, as steep discounts lured deal-hungry consumers, a Mastercard report showed on Monday.

The dollar edged up yesterday, pulling away from recent six-month lows against a basket of major currencies, for now.

For much of the global economy, 2023 is going to be a tough year as the main engines of global growth - the United States, Europe and China - all experience weakening activity, the head of the International Monetary Fund said on Sunday.

India’s unemployment rate rose to 8.30 per cent in December, the highest in 16 months, from 8.00 per cent in the previous month, data from the Centre for Monitoring Indian Economy (CMIE) showed on Sunday.

India’s foreign exchange reserves fell to $562.81 billion in the week through December 23, the Reserve Bank of India’s (RBI) statistical supplement showed on Friday.

Vietnam’s economy grew by eight percent in 2022, driven by strong exports and retail sales, authorities said on Thursday.

The Russian rouble slumped to an eight-month low against the dollar on Thursday, struggling under the weight of expectations that sanctions on Russian oil and gas may limit export revenues.

Oil prices pared losses after falling by over $2 earlier in the session, as a weaker dollar partially offset demand fears resulting from surging Covid-19 cases in China.

Bangladesh economy was all set at the beginning of 2022 to get its growth momentum back after recovering from the prolonged Covid-19 pandemic. But, the start of the Ukraine war in February slowed the country’s joy run significantly, making it an eventful year to remember. Let’s see how 2022 was for Bangladesh.

The dollar touched a one-week high against the yen on Wednesday, boosted by a jump in Treasury yields and investor expectations for a rebound in Chinese growth as Covid-19 curbs loosen.

Oil prices fell on Wednesday as concerns about an upsurge in Covid-19 cases in China, the world’s top oil importer, outweighed expectations easing pandemic restrictions would lead to economic recovery and growth in demand for fuel.

The rouble weakened sharply on Wednesday, sliding to the 72 mark against the dollar, as sanctions on Russian oil and their probable impact on export revenues put pressure on the Russian currency.

This was supposed to be the comeback year for the world economy following the Covid pandemic. Instead, 2022 was marked by a new war, record inflation and climate-linked disasters. It was a "polycrisis" year, a term popularised by historian Adam Tooze. Get ready for more gloom in 2023.

German companies expect only a mild recession next year despite headwinds from the energy crisis, raw material shortages and a tepid global economy, a survey of major associations published by Reuters on Tuesday showed.

The proportion of Japanese enterprises that intend to expand their investment in Việt Nam in the next one to two years is 60 per cent, up 4.7 points from the previous year and the highest among Southeast Asian countries.

India has suggested that Bangladesh review the proposed import quota on seven food items as the neighbouring nation believes the quantity sought as a guaranteed supply is too high.

Three more Bangladeshi garment factories have been awarded the Leadership in Energy and Environmental Design (LEED) certification for extraordinary initiatives taken for green production.

The Singapore dollar is set to end the year as Asia’s most resilient currency against an exceptional surge in the United States dollar.

Orders for big-ticket US manufactured goods dropped more than expected in November,bogged down by a sharp decline in the aircraft segment, according to government data released recently.