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.  

Norway’s central bank announced Thursday a sharper-than-expected interest rate hike and warned of more to come, as policymakers tighten monetary policies worldwide to fight surging inflation.

Canadian inflation jumped to 7.7 per cent in May, marking the largest annual increase in prices for goods and services in almost four decades, the government statistical agency said Wednesday.

Prospects for a firm start on Wall Street helped European shares claw back from a new low for the year on Thursday as investors weighed the risk of hefty interest rate rises tipping economies into recession.

The US economy remains strong but a series of aggressive rate hikes meant to cool soaring inflation could eventually trigger a recession, Federal Reserve Chair Jerome Powell cautioned Wednesday.

A retreat in oil prices continued on Thursday as investors reassessed the risks of recession and how fuel demand will be affected by rising interest rates.

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.

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.

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.

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.

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.