Russian bank Unistream, which specialises in money transfers, has seen a surge in remittances since Moscow began operations in Ukraine and plans to launch instant transfers to India, Turkey and countries in Africa, its board chairman told Reuters.

Indian authorities on Sunday said they had arrested a man who had masterminded the creation of many shell companies linked to China and appointed dummy directors to run the fraudulent businesses.

The Hong Kong Special Administrative Region government on Thursday welcomed the Fraser Institute’s recognition of the territory as the world’s freest economy.

Banks in Bangladesh would offer a maximum of Tk 108 for remittances coming through the exchange houses and Tk 99 to the exporters in case of purchase of US dollars from them.

Indian conglomerate Tata Group is in talks with Taiwanese supplier Wistron Corp to establish a joint venture to assemble Apple’s iPhones in India, Bloomberg News reported on Friday.

Apple and Alphabet’s Google are facing a probe over anti-competitive practices in Mexico after the country’s former telecommunications chief filed a complaint, he said in a statement on Twitter on Friday.

Federal Reserve officials on Friday ended their public comment period ahead of the US central bank’s September 20-21 policy meeting with strong calls for another oversized interest rate increase to battle high inflation.

India’s decision to curb rice exports is expected to lift world prices of the staple and trigger a rally in rival wheat and corn markets, deepening concerns over food inflation.

Russia’s economy shrank 4.1 per cent year-on-year in the second quarter of 2022, data from the federal statistics service Rosstat showed on Friday, revising the contraction assessment from the previously reported 4.0 per cent.

The United States and a group of Asian allies on Friday agreed on a set of negotiating targets, notably on trade and supply chains, as Washington looks to offer an alternative to the economic might of China in the region.

Indian businesses want to invest in energy, transport and agro-processing sectors in Bangladesh, Commerce Minister Tipu Munshi said yesterday.

Britain’s new Prime Minister Liz Truss on Wednesday readied the final details of a plan to tackle soaring energy bills, which looks likely to cool inflation but add more than 100 billion pounds ($115 billion) to the country’s borrowing.

Britain’s battered pound fell to its lowest level against the US dollar since 1985 on Wednesday, lurching lower as investors dumped British assets in the face of a bleak economic outlook and the soaring dollar.

India’s finance minister said on Thursday that importing Russian oil was part of the country’s inflation-management strategy and that other countries were doing something similar.

The European Central Bank raised its key interest rates by an unprecedented 75 basis points on Thursday and signalled further hikes, prioritising the fight against inflation even as the bloc’s economy is heading for a likely winter recession.

Qatar’s central bank has told banks in the Gulf state not to exchange its currency with entities outside the country without prior permission, five sources told Reuters, in a move, bankers say aims at ending the riyal’s divergence against the dollar.

India’s battered rupee will trade not far from its lifetime low against the US dollar into next year and remain vulnerable to a worsening trade balance and an aggressive US Federal Reserve rate-hiking campaign, according to a Reuters poll.

Deutsche Bank chief Christian Sewing, painting a bleaker assessment of the German economy, warned on Wednesday that China was a considerable risk for the nation and that Europe needed big banks to fend off American competitors.

The threat of recession is rising in Europe, a top EU official warned on Wednesday, as skyrocketing energy prices caused by Russia’s invasion of Ukraine punish the economy.

Saudi Arabia’s real gross domestic product expanded by 12.2 per cent in the second quarter compared with the same period of 2021, data showed on Wednesday, as the world’s top oil exporter reaps the rewards of high crude prices and a post-pandemic recovery.