Russia started fuel exports to Iran by rail this year for the first time after traditional buyers shunned trade with Moscow, according to three industry sources and exports data.

Britain now looks set for a shallower economic hit this year than previously thought but remains on course to suffer the sharpest contraction among the world’s big economies, the International Monetary Fund said on Tuesday.

Global government debt is on track to reach levels not seen since the height of the Covid-19 pandemic, the International Monetary Fund (IMF) warned on Wednesday.

Gold prices firmed on Wednesday as the dollar weakened, with investors awaiting the US Federal Reserve’s latest policy meeting minutes and inflation data for signs of how close interest rates are to peaking.

The International Monetary Fund (IMF) said on Tuesday that it expects India’s economy to grow 5.9 per cent in the current fiscal year though it warned that turmoil in the financial system will hurt global growth.

Asia’s economic growth could outpace developed countries’ by 5 per cent by end-2023 driven by China’s easing of Covid-19 curbs, strong domestic demand and interest rates staying in less-restrictive territory, said Morgan Stanley economists.

Japan has proposed developing an industrial hub in Bangladesh with supply chains to the landlocked northeastern states of India, and to Nepal and Bhutan beyond by developing a port and transport in the region, officials said on Tuesday.

The commerce minister meets Iranian ambassador

Shipments of Apple Macs plunged during the first quarter of this year as the global personal computer market suffered due to tough economic conditions, market research reports said on Monday.

China’s consumer price inflation fell below one percent in March, official figures showed Tuesday, a sign of weak demand as the world’s second largest economy tries to recover from its pandemic-driven slump.

The International Monetary Fund on Tuesday trimmed its 2023 global growth outlook slightly as higher interest rates cool activity but warned that a severe flare-up of financial system turmoil could slash output to near recessionary levels.

Major cryptocurrency bitcoin breached the key $30,000 level for the first time in 10 months on Tuesday, adding to its steady gains as investors raised bets that the US Federal Reserve will soon end its aggressive monetary tightening campaign.

The dollar gave back the previous day’s advances against the euro and pound but held some gains against the yen on Tuesday as traders’ attention turned to US inflation data due on Wednesday for signs of how close US rates are to peaking.

Oil prices rose on Tuesday on expectations of potential economic stimulus by China, healthy demand in the rest of Asia and a drop in US crude stockpiles.

Chinese airlines undertaking the biggest hiring drives in more than three years as travel rebounds are facing a deluge of applicants for cabin crew roles as fresh university graduates turn to the relatively high-paying career in a bleak job market.

The International Monetary Fund slightly lowered its outlook for the global economy today, while predicting that most countries will avoid a recession this year despite economic and geopolitical concerns..The IMF predicted the global economy will grow by 2.8 percent this year and three per

State oil giant Saudi Aramco will supply full crude contract volumes loading in May to several North Asian buyers despite its pledge to cut output by 500,000 barrels per day, several sources with knowledge of the matter said on Monday.

Sugar prices in India have climbed more than 6% in two weeks and are likely to rise further as production is set to fall and demand from bulk consumers to strengthen during the peak summer season, industry officials told Reuters.

Indonesia will propose a free trade agreement for some minerals shipped to the United States so that companies in the electric vehicle battery supply chain operating in the country can benefit from US tax credits, a senior minister said on Monday.

Gold prices fell as much as 1 per cent to slip below $2,000 on Monday, after US employment data pointed to a tight labour market, raising expectations of another rate hike by the Federal Reserve in May.