Economic growth in the eurozone accelerated in March and hit a 10-month high, according to a closely watched survey published on Friday, despite turmoil in the markets and concerns over banks.

Deposits at small US banks dropped by a record amount following the collapse of Silicon Valley Bank on March 10, data released on Friday by the Federal Reserve showed.

The Bank of England (BoE) raised interest rates for the 11th time in a row on Thursday, but said a surprise resurgence in inflation would probably fade fast, prompting speculation it had ended its run of hikes.

Investors are settling in for a long slog in the US stock market in coming months, braced for more tumult in the banking sector and worries over how the Federal Reserve’s tightening will ripple through the economy.

Russian energy giant Gazprom said Tuesday it had reached a daily record in gas volumes supplied to China through the Power of Siberia pipeline.

Gold topped $2,000 per ounce for the first time in more than a year on Monday on haven demand as investors fretted over global bank fears despite the buyout of Credit Suisse.

UBS Group emerged as Switzerland’s one and only global bank with a state-backed rescue of its smaller peer Credit Suisse, a risky bet that makes the Swiss economy more dependent on a single lender.

A deal allowing the safe Black Sea export of Ukrainian grain was renewed on Saturday for at least 60 days - half the intended period - after Russia warned any further extension beyond mid-May would depend on the removal of some Western sanctions.

Indian startups had deposits worth about $1 billion with embattled Silicon Valley Bank and the country’s deputy IT minister said he had suggested that local banks lend more to them going ahead.

The OECD raised its global economic growth forecast on Friday as inflation eases and China emerges from Covid restrictions but warned of vulnerabilities as seen in the US bank sector turmoil.

ECB Governing Council member Pierre Wunsch does not expect a repeat of the 2008 financial crisis despite turbulence caused by the collapse of Silicon Valley Bank, arguing European banks were subject to tougher rules than regional US banks.

Bangladesh is yet to utilise $18 billion-worth export opportunities to the European Union availing duty and quota free privileges enjoyed by the South Asian nation as a least developed country (LDC), according to a study shared yesterday. 

British unemployment remains near its historical low but wages are still falling in real terms, official data showed Tuesday on the eve of a budget.

With hindsight, there were warning signs ahead of last week’s spectacular collapse of Silicon Valley Bank, missed not only by investors, but by bank regulators.

The dollar steadied on Monday as investors awaited testimony from Federal Reserve Chair Jerome Powell ahead of the February jobs report at the end of the week that will likely influence how much more the US central bank will raise interest rates.

Oil prices fell on Monday after China set a lower-than-expected target for economic growth this year at around 5 per cent, and as investors cautiously awaited US Federal Reserve Chair Jerome Powell’s testimony this week.

Underlying inflation in the euro zone will stay high in the near term so a 50 basis point European Central Bank interest rate increase later this month is increasingly certain, ECB President Christine Lagarde told Spanish media group Vocento.

A top UN official has warned that “urgent” measures are needed to help 52 countries facing debt repayment problems that put some at risk of default.

The British public’s expectations for inflation over the coming year and five to 10 years ahead rose unexpectedly in February, US bank Citi said after publishing a monthly survey conducted by market research company YouGov.

Oil extended gains for a second session on Wednesday after a strong jump in manufacturing in China, the world’s top crude importer, boosted the outlook for global fuel demand.