Opec on Thursday cut its 2022 forecast for growth in world oil demand for a third time since April, citing the economic impact of Russia’s invasion of Ukraine, high inflation and efforts to contain the coronavirus pandemic.

India’s retail inflation likely eased in July due to a fall in food and fuel prices yet stayed well above the Reserve Bank of India’s upper tolerance limit for a seventh consecutive month, a Reuters poll found.

The dollar lost further ground versus other major currencies on Thursday, after traders reined in bets on an aggressive interest rate hike by the Federal Reserve after softer-than-expected US inflation data the previous day.

The Metropolitan Chamber of Commerce and Industry (MCCI) yesterday urged the government to extend the validity of all trade licences by up to five years in a bid to reduce the sufferings faced in renewing such certifications each year.

The Reserve Bank of India on Wednesday issued detailed guidelines that will increase scrutiny and supervision over digital lending apps and lenders who engage with them, after several complaints of malpractice against such apps.

The head of the European Space Agency (ESA) has warned economic damage from heatwaves and drought could dwarf Europe’s energy crisis as he called for urgent action to tackle climate change.

The average price of US retail gasoline fell below $4 per gallon on Thursday for the first time in months, giving some relief to drivers in the world’s largest consumer of the fuel.

China’s real estate crisis is casting a darkening cloud over governance and financial prospects of once highly valued property management companies, triggering a rout in their shares and making investors cautious.

Malaysia Airlines is poised to announce a deal next Monday to acquire 20 Airbus A330neo wide-body jets, industry sources said on Wednesday.

US inflation is expected to have eased slightly in July, taking pressure off the Federal Reserve to hike interest rates sharply while bringing a much-needed boost to President Joe Biden just months before crucial midterm elections.

The supply of Russian oil to three European countries through Ukraine has been halted as the transit payment cannot be processed due to sanctions, Russian firm Transneft said Tuesday.

Elon Musk has sold nearly $7 billion worth of Tesla shares, according to legal filings, amid a high-stakes legal battle with Twitter over a $44 billion buyout deal.

SoftBank Group Corp on Wednesday said it will book an estimated gain of 4.6 trillion yen ($34.08 billion) on settling prepaid forward contracts using shares in Alibaba Group Holding, reducing its stake to 14.6 per cent from 23.7 per cent.

Indian companies are using Asian currencies more often to pay for Russian coal imports, according to customs documents and industry sources, avoiding the US dollar and cutting the risk of breaching Western sanctions against Moscow.

China’s factory-gate inflation eased to a 17-month low in July, defying global cost pressures as slower domestic construction weighed on raw material demand, although consumer price increases hit a two-year high as pork supplies tightened.

Indian companies are using Asian currencies more often to pay for Russian coal imports, according to customs documents and industry sources, avoiding the US dollar and cutting the risk of breaching Western sanctions against Moscow.

Bangladesh can make little use of the generous duty benefits offered by China simply because of its narrow export basket, with the situation compounded by the fact that the products are low in demand in the East Asian country. 

Latest US inflation numbers are in markets’ sight, especially since Federal Reserve policymakers have come out in force to correct any misconception about their determination to slay decades-high inflation with big rate hikes.

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.