Global off-grid energy distributor SHV Energy is set to enter Bangladesh’s growing market for liquefied petroleum gas (LPG) by acquiring local bottler and marketer, Petromax LPG.

Manufacturing growth is slowing from Asia to Europe as China’s Covid-19 curbs and Russia’s invasion of Ukraine disrupt supply chains, while the growing risk of a recession in the United States poses a new threat to the global economy.

US tariffs on Chinese goods offer a key element of leverage over Beijing which Washington should be reluctant to relinquish, the top American trade official said Wednesday.

Bangladesh yesterday edged closer to finalising a deal over buying 200,000 tonnes of wheat from Russia under a government-to-government contract in order to build up public food stocks to carry out various social safety net programmes.  

Germany triggered the "alarm stage" of its emergency gas plan on Thursday in response to falling Russian supplies but stopped short of allowing utilities to pass on soaring energy costs to customers in Europe's largest economy.

Brussels and NGOs expressed concerns Tuesday about several EU countries, including Germany, reverting to using coal for power generation as the fall-out from Russia’s war in Ukraine hits energy supplies.

Oil prices plunged more than five percent Wednesday as traders grow increasingly worried that demand for the commodity will take a hit from a possible recession caused by a sharp hike in interest rates aimed at reining in inflation.

British annual inflation has hit a fresh 40-year high, official data showed Wednesday, further eroding workers’ wages and pressuring the Bank of England to keep on raising interest rates.

Germany faces certain recession if already faltering Russian gas supplies completely stop, an industry body warned on Tuesday, as Sweden joined a growing list of European nations rolling out emergency plans to cope with a deepening energy supply crisis.

The United States is in talks with Canada and other allies to further restrict Moscow’s energy revenue by imposing a price cap on Russian oil, Treasury Secretary Janet Yellen said on Monday.

The European Union on Tuesday pledged an additional 600 million euros to help vulnerable nations weather a food security crisis worsened by Russia’s war on Ukraine.

Neither inflation nor the war in Ukraine are threatening to take a bite out of the luxury fashion market, according to a study.

Germany faces certain recession if already faltering Russian gas supplies completely stop, an industry body warned on Tuesday, as Italy said it would consider offering financial backing to help companies refill gas storage to avoid a deeper crisis in winter.

The Turkish central bank’s net foreign currency reserves fell to a 20-year low of around $7 billion last week, according to calculations by four economists based on preliminary data.

The influx of Ukrainian refugees into the European Union could gradually ease labour shortages in the euro zone as some of those fleeing the war are likely to settle permanently, the European Central Bank said on Monday.

China stood pat on its benchmark lending rates for corporate and household loans, as expected, on Monday, with global central banks’ rate increases making it tough for Beijing to stimulate a weak domestic economy by lowering rates.

A series of surprise actions by some of the world’s largest central banks fretting about runaway inflation has left bond investors battered. Now, a growing chorus of investors is calling on policymakers to move fast to end the uncertainty.

The cryptocurrency industry was on edge on Monday as bitcoin held just above $20,000 and investors feared that problems at major crypto players could unleash a wider market shakeout.

A recession in the United States is not  “inevitable” but the economy is likely to slow, Treasury Secretary Janet Yellen said Sunday, days after the US Federal Reserve hiked interest rates, raising fears of a contraction.

China’s imports of oil from Russia in May rose 55 per cent year on year, customs data showed on Monday, with the West sanctioning fuel imports from Moscow over its invasion of Ukraine.