Representatives of European Union governments were discussing on Thursday a price cap on Russian seaborne oil at $60 per barrel, with a review every two months, yielding to pressure from some countries to lower the cap, diplomats said.

Unemployment in the eurozone has dropped to a record low, at 6.5 per cent in October, the EU’s Eurostat statistics office said Thursday.

The Indian economy is likely to grow 6.5 per cent to 7 per cent next fiscal year if the global environment does not worsen, a member of the prime minister’s economic advisory council said on Thursday, giving a higher estimate than some economists.

Cash transfers to low- and middle-income countries eased this year, with rising prices taking a toll on migrants' incomes, the World Bank said Wednesday.

India posted an economic growth of 6.3 per cent in its July-September quarter, far slower than the 13.5 per cent growth reported in the previous three months as distortions caused by Covid-19 lockdowns faded in Asia’s third-largest economy.

The eurozone annual inflation rate fell for the first time in 17 months in November as it slowed to 10 per cent, official data showed Wednesday.

The US economy grew more than initially reported in the third quarter this year, with government data released Wednesday reflecting upward revisions to retail spending and some forms of investment.

US Treasury Secretary Janet Yellen said on Wednesday that she was not sure what an acceptable unemployment rate is for the current

Oil prices rose by more than $2 on Wednesday on signs of tighter supply, a weaker dollar and optimism over a Chinese demand recovery.

India is expected to harvest a bumper wheat crop in 2023 as high domestic prices and replenished soil moisture help farmers surpass last year’s planting, while an intense heatwave cut output this year.

China’s tax department continuously accelerated the export tax refund this year, offering powerful support for the steady growth of foreign trade, Securities Times reported.

The inflation rate in Europe’s top economy dropped to 10 per cent for November, preliminary data from Germany’s federal statistics agency Destatis showed. This comes after hitting a record high in October.

Qatar on Tuesday announced its first major deal to send liquefied natural gas to Germany as Europe scrambles to find alternatives to Russian energy sources.

Pakistan’s junior oil minister and the petroleum secretary have flown to Russia for talks on issues including oil and gas supplies, two people close to the matter told Reuters on condition of anonymity.

Gold ticked higher on Monday as a retreat in the dollar made bullion more attractive for other currency holders, drawing further support from some safe-haven demand from China amid wide protests over its strict Covid-19 curbs.

Oil prices fell to near their lowest levels this year on Monday as street protests against strict Covid-19 curbs in China, the world’s biggest crude importer, stoked concern about the outlook for fuel demand.

Euro zone inflation has not peaked, and the risk is that it will turn out even higher than currently expected, European Central Bank President Christine Lagarde said on Monday.

Umesh Rijal, a resident of Khorsane in Sundar Haraicha Municipality 10 in Morang district, reached Kathmandu on Wednesday to collect his passport. He did not apply for a passport from his home district as it takes around two months for him to get the travel document.

China has agreed to restructure Cuban debt and provide new trade and investment credits to the beleaguered Caribbean Island nation after a meeting in Peking between the two Communist countries’ leaders.

China’s industrial firms saw overall profits decline further in the January-October period as Covid-19 outbreaks flared up and cities imposed new virus curbs, including targeted lockdowns, dampening economic activity.