Wheat prices tumbled Friday, retreating to levels last seen prior to the Russian invasion of Ukraine following a landmark agreement to unblock Ukraine’s Black Sea grain exports.

Indian oil-to-telecoms giant Reliance Industries reported earnings that missed analyst estimates Friday, despite a strong performance by its core oil-refining business.

US crude prices settled below $95 a barrel for the first time since April in choppy trading on Friday after the European Union said it would allow Russian state-owned companies to ship oil to third countries under an adjustment of sanctions agreed by member states this week.

Embattled Chinese real estate giant Evergrande has ousted its CEO and CFO after an internal investigation into why banks seized over $2 billion from the firm’s property services arm, the company has said.

The European Commission on Friday gave the go-ahead to the renewed suspension of crop rotation rules that require European farmers to leave 1.5 million hectares of arable land lying fallow.

Twitter blamed disappointing results Friday on  “headwinds,” including the uncertainty imposed on the company by Elon Musk’s chaotic buyout bid.

China will make great efforts to consolidate its economic recovery particularly in the crucial third quarter, putting a priority on stabilising employment and prices, state media reported on Friday after a regular cabinet meeting.

The global economy looks increasingly likely to be heading into a serious slowdown, just as the highest inflation in a generation prompts central banks to aggressively reverse the ultra-loose monetary policy adopted during the pandemic to support growth, data showed on Friday.

The United States called Friday on Russia to let out Ukrainian grain quickly and voiced hope that a Turkish-brokered deal was well-structured enough to monitor compliance.

Saudi Crown Prince Mohammed bin Salman will visit Greece on July 26 to meet Prime Minister Kyriakos Mitsotakis, the Greek foreign ministry said on Friday, in his first visit to an EU country since the 2018 killing of Saudi journalist Jamal Khashoggi.

The United States and 17 allies have agreed to work together to improve and diversify global supply chains to avoid the shortages that plagued the economy during the pandemic, officials said Wednesday.

Having bucked a global dash to tighten monetary policy for a year, Asian central banks find themselves scrambling to catch up in order to tackle rising inflation and defend weakening currencies.

Ukraine has asked its creditors for a two-year payment freeze on its international bonds in a bid to focus its dwindling financial resources on repelling Russia.

Halting Russian gas supplies to Germany would cost Europe’s largest economy 1.5 per cent of its GDP in 2022, the International Monetary Fund said Wednesday, as concerns mount that Moscow will further squeeze supply.

Stock markets eased on Thursday as a resumption of Russian gas supplies to Europe lifted the euro ahead of the European Central Bank’s anticipated first interest rate hike in over a decade to quell inflation.

Turkey next month will resume drilling operation near the divided island of Cyprus, a top official said Wednesday, threatening to spark a new diplomatic row with the EU.

The EU is preparing to carve out exceptions in its tough sanctions against Moscow that would unblock assets at Russian banks linked to trade in food and fertiliser, a document showed on Tuesday.

China has ramped up approvals for new coal power plants this year, Greenpeace said Wednesday, with authorities trying to lower the risk of economically painful electricity shortages.

The US economy is on solid footing and in good position to avoid a downturn, even amid rising interest rates, but still faces a number of global hazards, Treasury Secretary Janet Yellen said Tuesday.

Russian gas flows via the Nord Stream 1 pipeline are likely to restart on time on Thursday after the completion of scheduled maintenance but at lower than its full capacity, two Russian sources familiar with the export plans told Reuters.