German inflation edged up unexpectedly in July after a further reduction in gas flows from Russia prompted concerns of even higher energy bills, data showed on Thursday.

Sharply higher interest rates, red-hot inflation and a prolonged energy crisis are leading to conviction that the world economy is headed inexorably towards recession.

Germany is set to impose a levy on all gas consumers from October 1 aimed at helping suppliers grappling with soaring gas import prices, a draft law showed on Thursday.

A Russian court on Thursday fined Meta Platforms Inc’s WhatsApp messenger and Snapchat owner Snap Inc for an alleged refusal to store the data of Russian users domestically, news agencies reported.

Investors are gauging whether the US Federal Reserve has reached the peak of its aggressiveness in hiking rates, with some saying they’re ready to up risky positions again.

The monsoon, which accounts for about 75 per cent of India’s annual rainfall, is the lifeblood of its nearly $3 trillion agriculture-dependent economy.

Oil rose by $1 a barrel on Wednesday as a report of lower inventories in the United States and cuts in Russian gas flows to Europe offset concern about weaker demand and a looming US interest rate hike.

Ukraine aims to strike a deal for a $15-$20 billion programme with the International Monetary Fund before year-end to help shore up its war-torn economy, the country’s central bank governor Kyrylo Shevchenko told Reuters.

The global economy is mired in a serious slowdown, with some key economies at high risk of recession and only sparse meaningful cooling in inflation likely over the coming year, according to Reuters polls of hundreds of economists worldwide.

Russia delivered less gas to Europe on Wednesday in a further escalation of an energy stand-off between Moscow and the European Union that will make it harder, and costlier, for the bloc to fill up storage ahead of the winter.

Pakistan’s two leading car assemblers, Toyota and Suzuki, plan partial plant shutdowns next month due to unavailability of raw material amid import restrictions and exchange rate volatility, officials at both companies said on Wednesday.

The Metropolitan Chamber of Commerce and Industry (MCCI) today suggested the central bank should consider China’s Renminbi (RMB) as a second currency for international trading, especially for importing raw materials from China.

Despite damaging Western sanctions imposed on Moscow in the wake of the invasion of Ukraine, Russia's economy appears to be weathering the storm better than expected as it benefits from high energy prices, the IMF said Tuesday.

Russian President Vladimir Putin’s invasion of Ukraine shocked the world, forced Western countries to respond, and is driving up the cost of energy and food across the globe.

Russia-made products accounted for 83 per cent of the country’s market for common consumer goods in the first half of 2022, up 4 per cent on a year before, according to a report published by NielsenIQ on Tuesday.

Oil prices rose on Tuesday for a second day on increasing concerns about tightening European supply after Russia, a key oil and natural gas supplier to the region, cut gas supply through a major pipeline.

The Sion, a five-person family car covered completely in solar panels, should enter into serial production in the second half of 2023, the German start-up developing the vehicle said Monday.

Bangladesh has many positive stories that are worth highlighting as the country has been doing well in regards to economic and social development for the past several years, said Salman F Rahman, the prime minister’s private industry and investment adviser, at a seminar.

Sales volumes at UK supermarkets fell 4.1 per cent year-on-year in the four weeks to July 16, with nine out of ten Britons saying they are increasingly watching what they are spending as they battle a cost of living crunch, industry data showed on Tuesday.

A looming energy crisis has rekindled debate in Germany about the wisdom of shutting down the country’s last three nuclear power plants, with even members of the ruling coalition saying an extension is no longer taboo.