Germany would face costs almost six times as high as Brexit if it and the European Union were to shut China out of their economies, the Ifo institute said on Monday, citing the results of a study.

India could scrap a 40 per cent duty on wheat imports and cap the amount of stocks traders can hold to try to dampen record high domestic prices in the world’s second biggest producer, government and trade officials told Reuters on Monday.

Russia has banned investors from so-called unfriendly countries from selling shares in key energy projects and banks until the end of the year, stepping up pressure in the sanctions stand-off with the West.

Hedge funds posted a 1.65 per cent gain in July, driven by a stock market rally which helped reduce their losses for the year to date, data provider HFR said on Friday.

China’s export growth unexpectedly picked up speed in July, offering an encouraging boost to the economy as its struggles to recover from a Covid-induced slump, but weakening global demand could start to drag on shipments in coming months.

The Bank of England looks set to become the first major central bank to sell some of the government bonds it purchased during more than a decade of quantitative easing, with a 40 billion pound ($49 billion) sales programme likely to start next month.

A European Union plan to cut gas use and help Germany wean itself off dependency on Russia will come into effect early next week, the bloc’s presidency said Friday.

Portugal has reformed its immigration laws to attract foreign workers as it faces a labour shortage in tourism and construction.

Kuwait’s Agility, one of the largest Gulf logistics companies, said on Sunday it had signed a new credit facility of 1.4 billion euros.

Syria’s internal commerce ministry has announced a petrol price hike of around 130 per cent in the war-torn country facing fuel shortages and extended power cuts.

House prices in Britain fell the first time in more than a year in July in monthly terms and the market is likely to weaken further as interest rates go up and the cost-of-living squeeze tightens, mortgage lender Halifax said on Friday.

The Local Government Covid-19 Response and Recovery Project will benefit 39.9 million urban residents in all eight divisions, the World Bank said in a statement today.

Elon Musk has accused Twitter of fraud, alleging the social media platform misled him about key aspects of its business before he agreed to a $44 billion buyout, as their court fight heats up.

Oil prices settled higher on Friday, recouping some of this week’s losses on strong US job growth data, but closed the week at their lowest levels since February, rattled by worries a recession could hit fuel demand.

The Bank of England is trying to maintain flexibility on its options for changing interest rates and investors should not assume it is set to do more big rate hikes, BoE Chief Economist Huw Pill said on Friday.

People in Germany have to save at least 20 per cent of their energy consumption to avoid a gas shortage by December due to falling Russian gas flows, Germany’s network regulator head Klaus Mueller said.

EU sanctions against Russia do nothing to prevent the delivery of pipeline turbine, an EU spokesman said Friday, accusing Moscow of fabricating an excuse to cut off gas supplies.

US job growth unexpectedly accelerated in July, lifting the level of employment above its pre-pandemic level and pouring cold water on fears the economy was in recession.

Three bulk carriers loaded with grain set sail from Ukraine on Friday under a landmark deal to free up shipments brokered by Turkey, as its leader met his Russian counterpart for talks on Moscow’s invasion of its neighbour.

Adverse weather across top rice suppliers in Asia, including the biggest exporter India, is threatening to reduce the output of the world’s most important food staple and stoke food inflation that is already near record highs.