High US interest rates are doing their job in the fight against inflation, but more hikes may yet be needed, senior US Federal Reserve officials said Thursday.

Japan’s economy grew less than initially estimated in the second quarter and wages slumped in July, casting doubt over central bank projections that solid domestic demand will keep the country on course for a recovery.

China’s consumer prices returned to positive territory in August while factory-gate price declines slowed, data showed on Saturday, as deflation pressures ease amid signs of stabilisation in the economy.

India announced on Saturday the launch of a global biofuel alliance at a G20 summit in New Delhi to boost the use of cleaner fuels.

The container vessel sank on July 6 in the bay near Noakhali’s Bhasanchar

Oil prices gained almost 1 percent to a nine-month high on Friday on rising US diesel futures and worries about tight oil supplies after Saudi Arabia and Russia extended supply cuts this week.

German industrial production fell for a third straight month in July, official data showed Thursday, adding to fears of a prolonged downturn in Europe’s largest economy.

Eurozone inflation remained unchanged in August, official data showed Thursday, leaving the European Central Bank faced with a conundrum over whether to continue hiking interest rates amid fears of a deepening economic downturn.

Policymakers in Tokyo believe China’s deepening economic woes could hit Japan’s fragile recovery, especially if Beijing fails to shore up demand with meaningful stimulus, potentially delaying an exit from ultra-loose monetary policy.

China’s exports and imports sank again in August, data showed Thursday, adding to growing pressure on authorities to introduce fresh stimulus for the world’s number two economy even as the figures showed some sign of improvement.

Data from China on Thursday showing falling exports fanned more fears about a slowdown in the world’s second-biggest economy, which has struggled with its post-Covid recovery.

Brazil is set to pass the United States this year as the world’s top corn exporter, ending years of US dominance thanks to a bumper harvest, officials said Wednesday.

Muhammed Aziz Khan, chairman of Summit Group, was named the 41st richest man in Singapore this year, moving one notch up from the last year’s position on the list of Forbes’ 50 richest men.

The world risks a "great fracture" of its economic and financial systems, UN Secretary-General António Guterres said on Thursday at a summit with Southeast Asia's ASEAN bloc, China, the United States and others in Indonesia.

Bangladesh may sign a memorandum of understanding (MoU) with Russia soon to import some food items as those were offered at competitive prices, said Senior Commerce Secretary Tapan Kanti Ghosh yesterday. 

India is seeking additional volumes of natural gas and has asked utilities to expedite completion of power plant maintenance, as part of emergency steps to stop electricity outages, according to a government note seen by Reuters.

The Indian rupee weakened for a third straight session on Wednesday as elevated US Treasury yields and rising global crude oil prices weighed on the local unit.

Most Asian markets fell Wednesday as a jump in oil prices to 10-month highs rekindled worries of another US Federal Reserve interest rate hike.

Russia’s central bank announced Wednesday it plans to sharply step up support for the rouble, which has weakened considerably after 18 months of Western sanctions following Moscow’s military intervention in Ukraine.

The US services sector unexpectedly gained steam in August, with new orders firming and businesses paying higher prices for inputs -- potential signs of still-elevated inflation pressures.