German retailers ended the first half of 2022 with the sharpest year-on-year sales drop in nearly three decades, as inflation, the Ukraine war and the coronavirus pandemic take their toll, data showed on Monday.

Bangladesh is keen to establish a strong relation with Egypt as the two countries have immense bilateral trade potential, said Bangladesh's Ambassador to Egypt Md Monirul Islam.

The two largest US oil companies, Exxon Mobil and Chevron Corp, posted record revenue on Friday, bolstered by surging crude oil and natural gas prices and following similar results for European giants a day earlier.

Turkey’s inflation is expected to near 81 per cent in July and was seen declining to just 70 per cent by end-2022, a Reuters poll showed on Friday, as global energy and commodity costs and the lira’s steady decline continue to push prices higher.

Turkey’s tourism revenues nearly tripled in the second quarter while first-half foreign visitor numbers surged close to 2019 levels, data showed on Friday, recovering from a coronavirus-driven slump and bringing in badly-needed foreign currency.

Oil prices settled up more than $2 a barrel on Friday as attention turned to next week’s OPEC+ meeting and dimming expectations that the producer group will imminently boost supply.

Indonesia has blocked search engine website Yahoo, payments firm Paypal and several gaming websites due to failure to comply with licensing rules, an official said on Saturday, sparking a backlash in social media.

Federal Reserve Chair Jerome Powell said this week he’s looking for compelling signs that inflation is cooling before the US central bank will let up on what’s so far been its most aggressive set of interest rate hikes in decades.

The assets and risks of China’s “shadow” banking sector have declined significantly through continuous regulation, the state-run Securities Times on Saturday quoted a top regulator as saying.

British businesses are cutting ties with China due to concerns about political tensions, a shift that is likely to stoke inflationary pressures, the head of the Confederation of British Industry (CBI) said in an interview published on Saturday.

Europe’s economy is proving surprisingly resilient against soaring energy and food prices, data showed Friday, as tourism boosted France and Spain but export powerhouse Germany stalled, keeping recession fears alive.

Prices for gas, food and rent are soaring. The Federal Reserve has raised interest rates to the highest level since 2018. The US economy has shrunk for two straight quarters.

German inflation edged up unexpectedly in July after a further reduction in gas flows from Russia prompted concerns of even higher energy bills, data showed on Thursday.

Sharply higher interest rates, red-hot inflation and a prolonged energy crisis are leading to conviction that the world economy is headed inexorably towards recession.

Germany is set to impose a levy on all gas consumers from October 1 aimed at helping suppliers grappling with soaring gas import prices, a draft law showed on Thursday.

A Russian court on Thursday fined Meta Platforms Inc’s WhatsApp messenger and Snapchat owner Snap Inc for an alleged refusal to store the data of Russian users domestically, news agencies reported.

Investors are gauging whether the US Federal Reserve has reached the peak of its aggressiveness in hiking rates, with some saying they’re ready to up risky positions again.

Russia delivered less gas to Europe on Wednesday in a further escalation of an energy stand-off between Moscow and the European Union that will make it harder, and costlier, for the bloc to fill up storage ahead of the winter.

Pakistan’s two leading car assemblers, Toyota and Suzuki, plan partial plant shutdowns next month due to unavailability of raw material amid import restrictions and exchange rate volatility, officials at both companies said on Wednesday.

The monsoon, which accounts for about 75 per cent of India’s annual rainfall, is the lifeblood of its nearly $3 trillion agriculture-dependent economy.