Gasoline and gasoil sales by Indian state refiners in July fell from a month earlier as monsoon rains restricted mobility and construction work while high inflation curtailed overall demand for goods, preliminary sales data shows.

China’s wobbly economy stumbled further at the start of the second half of the year, with factories unexpectedly switching back to the slow lane, a slump in the property sector deepening and job cuts still a widespread menace.

The United Arab Emirates (UAE) reduced fuel oil prices after a break of six months and the new prices were effective from August 1.

India’s factory activity expanded at its quickest pace in eight months in July, driven by solid growth in new orders and output as demand continued to improve on the back of easing price pressures, a private survey showed.

The United States is considering limiting shipments of American chipmaking equipment to memory chip makers in China including Yangtze Memory Technologies Co Ltd (YMTC), according to four people familiar with the matter, part of a bid to halt China’s semiconductor sector advances and protect US companies.

As high inflation forces Americans to spend more on gas and bills, young and low-income consumers are starting to feel financial pressure.

Remittance flow to Bangladesh rose 11.76 per cent year-on-year to $2.09 billion in July, a development that would bring some relief for the country that is struggling to keep its foreign currency reserves in a healthy shape.

The United Arab Emirate cut fuel oil prices after a break of six months and the new prices will be effective from August 1.

German retailers ended the first half of 2022 with the sharpest year-on-year sales drop in nearly three decades, as inflation, the Ukraine war and the coronavirus pandemic take their toll, data showed on Monday.

Bangladesh is keen to establish a strong relation with Egypt as the two countries have immense bilateral trade potential, said Bangladesh's Ambassador to Egypt Md Monirul Islam.

Indonesia has blocked search engine website Yahoo, payments firm Paypal and several gaming websites due to failure to comply with licensing rules, an official said on Saturday, sparking a backlash in social media.

Federal Reserve Chair Jerome Powell said this week he’s looking for compelling signs that inflation is cooling before the US central bank will let up on what’s so far been its most aggressive set of interest rate hikes in decades.

The assets and risks of China’s “shadow” banking sector have declined significantly through continuous regulation, the state-run Securities Times on Saturday quoted a top regulator as saying.

British businesses are cutting ties with China due to concerns about political tensions, a shift that is likely to stoke inflationary pressures, the head of the Confederation of British Industry (CBI) said in an interview published on Saturday.

Europe’s economy is proving surprisingly resilient against soaring energy and food prices, data showed Friday, as tourism boosted France and Spain but export powerhouse Germany stalled, keeping recession fears alive.

The two largest US oil companies, Exxon Mobil and Chevron Corp, posted record revenue on Friday, bolstered by surging crude oil and natural gas prices and following similar results for European giants a day earlier.

Turkey’s inflation is expected to near 81 per cent in July and was seen declining to just 70 per cent by end-2022, a Reuters poll showed on Friday, as global energy and commodity costs and the lira’s steady decline continue to push prices higher.

Turkey’s tourism revenues nearly tripled in the second quarter while first-half foreign visitor numbers surged close to 2019 levels, data showed on Friday, recovering from a coronavirus-driven slump and bringing in badly-needed foreign currency.

Oil prices settled up more than $2 a barrel on Friday as attention turned to next week’s OPEC+ meeting and dimming expectations that the producer group will imminently boost supply.

Prices for gas, food and rent are soaring. The Federal Reserve has raised interest rates to the highest level since 2018. The US economy has shrunk for two straight quarters.