The Reserve Bank of India’s key policy repo rate was raised by 50 basis points on Friday, the third increase in the current cycle to cool stubbornly high inflation that has remained above the central bank’s tolerance band for six straight months.

In light of the government’s  latest decision to increase prices of fuel across the country from today (August 6), let’s have a look at fuel prices (per litre) in the major economies of the world as well as Bangladesh’s neighbouring countries.

Sri Lanka is considering a restructure of local and sovereign debt, President Ranil Wickremesinghe said on Friday, as the island nation battles its worst financial crisis in its independent history.

In the weeks that followed Russia's invasion of Ukraine, western Europe's big economies began to falter. But further east it was still boom-time thanks to double-digit wage hikes and generous state handouts in some countries.

Eleven Bangladeshi and six Turkish companies have come together to establish the new Bangladesh-Türkiye Business Forum (BTBF) at a meeting hosted by the Turkish embassy in Dhaka.

Oil prices were broadly steady on Thursday as the market weighed tight supply against fears of a demand slowdown, after a build in US crude and gasoline stocks sent prices to multi-month lows in the previous session.

China’s Ant Group on Wednesday logged net profit of 11.38 billion yuan ($1.68 billion) in the quarter to March, down 17.3 per cent from a year earlier, according to Reuters calculations from Alibaba Group Holding Ltd’s, earnings report.

Chinese military exercises around Taiwan are set to disrupt one of the world’s busiest shipping zones, analysts told AFP, highlighting the island’s critical position in already stretched global supply chains.

Malaysia said on Thursday it was ready to help India meet its palm oil demand in view of potentially erratic supply from top supplier Indonesia.

Consumers in the eurozone expect inflation to stay high and the economic growth to go into reverse over the next year, according to a new survey published by the European Central Bank on Thursday.

Saudi Arabia, the world’s top oil exporter, raised September crude oil prices for Asian buyers to record high levels despite falling refining margins.

Russia became India’s third-largest coal supplier in July, with imports rising by over a fifth compared with June to a record 2.06 million tonnes, data from Indian consultancy Coalmint showed.

Amid the ongoing Russia-Ukraine war and sanctions imposed by the West on Moscow’s nine major banks, India and Russia are trying to resolve the issue of payment for a large quantity of oil bought by India from Russia avoiding the Western sanctions. 

India’s headline retail inflation is expected to ease to its lowest level in five months in July due to declining food prices as well as the lagged effect of a cut in fuel taxes, Barclays said.

Export restrictions being considered by Washington to halt China’s advances in semiconductor manufacturing could come at a substantial cost, experts say, potentially disrupting fragile global chip supply chains - and hurting US businesses.

The West’s energy giants are set to return a record $30 billion to investors after reporting bumper profits in the second quarter of the year following a surge in energy prices.

India has cut fuel export taxes for the second time in less than two weeks and increased a windfall tax on locally produced crude oil, a government notification on Tuesday said.

As the world’s biggest soft drinks makers cut their Russian ties, local producer Chernogolovka is aiming for a 50 per cent share of the country’s near $9 billion market, its boss told Reuters.

The Indian rupee lost ground on Wednesday after four straight sessions of gains as the country’s ballooning trade deficit and uncertainty around the upcoming central bank decision dented its appeal.

Euro zone retail sales plunged in June and factory gate prices continued to rise, data showed on Wednesday, adding to fears the 19-country single currency zone is heading for recession.