Inflation in Japan hit 2.8 per cent in August, the highest level since 2014, government data showed Tuesday, as soaring energy prices bite.

At least 20 ships are waiting to load around 600,000 tonnes of rice at Indian ports as New Delhi’s surprise export restrictions have trapped cargoes for nearly a fortnight, forcing sellers to pay demurrage charges, industry officials told Reuters.

European governments outlined new measures on Monday to cope with potential energy shortages this winter and raced to improve energy networks to share power, with Russian gas flows still running at severely reduced rates amid the Ukraine war.

The German central bank said Monday it was increasingly likely that Europe’s largest economy would shrink for a “prolonged” period as Russia throttled energy supplies to the continent.

Top lender State Bank of India has asked exporters to avoid settling deals with Bangladesh in the dollar and other major currencies as it looks to curb exposure to Dhaka’s falling reserves, according to an internal document and a source.

World Bank has sought to know about Bangladesh’s current economic situation, especially the state of forex reserve and inflation, ahead of providing $250 million in budgetary support. 

German Chancellor Olaf Scholz is expected to sign contracts for liquefied natural gas (LNG) during his visit to the United Arab Emirates on Sunday, his deputy chancellor said, as Germany looks for new partners to replace Russian energy imports.

Sterling was weaker against a robust dollar on Monday, hovering near last week’s 37-year low, with sentiment towards the British currency remaining weak given a darkening economic outlook.

Norway’s central bank is expected to raise its benchmark interest rate again this week and signal a continued rise in the cost of borrowing in the fourth quarter to combat inflation, a Reuters poll showed on Monday.

Mercedes-Benz is planning to build a wind farm in the northwestern German state of Lower Saxony, by 2025 that is able to produce a hundred megawatts of electricity, equivalent to over 15 per cent of the carmaker’s annual demand in Germany, it said on Monday.

The German economy is contracting already and will likely get worse over the winter months as gas consumption is cut or rationed, the country’s central bank said on Monday.

India’s central bank is using up its foreign exchange reserves at a quicker pace than during the taper-tantrum period in 2013 as it tries to prevent an overshoot in the rupee, but a larger pool of reserves may allow it to support the currency for some more time, economists said.

China will speed up fund injections to expedite project construction and boost domestic consumption, China’s state planner said on Monday, even after the economy showed signs of renewed momentum last month.

Samsung Electronics said Thursday it has joined the RE100 initiative to set net-zero targets by 2050 and ensure the full use of renewable energy, making a major shift in the IT devices manufacturing giant that consumed the largest amount of electricity in the world.

Bitcoin on Sunday dropped 1.54 per cent to $19,804, slipping from the 20,000 mark after losing $310 from its previous close.

The underlying pressures driving inflation in Canada are likely to peak in the fourth quarter of this year, economists told Reuters, though most see signs fast rising prices are becoming entrenched and warn a recession may be needed to avoid a spiral.

Chubu Electric Power Co said on Sunday it is joining private equity firm Japan Industrial Partners (JIP) in conducting due diligence for a potential buyout of Japanese conglomerate Toshiba Corp.

Berlin on Friday took control of the German operations of Russian oil firm Rosneft to secure energy supplies which have been disrupted after Moscow invaded Ukraine.

China has stepped up spending on coal in the face of extreme weather, a domestic energy crunch and rising global fuel prices -- raising concerns Beijing’s policies may hinder the fight against climate change.

A sharp rebound in consumer spending and rising employment will sustain economic growth in India in the months ahead, the government said in its monthly economic review for August published on Saturday.