India on Saturday announced a series of changes to the tax structure levied on crucial commodities in a bid to insulate consumers from rising prices amid high inflation.

In volatile currency markets, one trade stands out as an easy bet: selling the British pound.

When New Delhi banned wheat exports as prices soared over Russia’s invasion of Ukraine it provoked consternation abroad and drove the cereal even higher.

The fourth edition of the coordinated patrol (CORPAT) between the navies of Bangladesh and India began today (May 22, 2022) in the northern Bay of Bengal.

British retail sales unexpectedly rebounded in April, data showed Friday, but remain on a long-term downward trend amid a cost-of-living crisis that saw inflation rocket to a 40-year high.

China has lifted a ban on Canadian canola imports, a Canadian official said Thursday, calling it  “very good news” for producers that Ottawa argued had been caught up in a diplomatic row.

China is quietly ramping up purchases of oil from Russia at bargain prices, according to shipping data and oil traders who spoke to Reuters, filling the vacuum left by Western buyers backing away from business with Russia after its invasion of Ukraine in February.

Japan’s core consumer prices posted their biggest jump in seven years in April, official data showed Friday, as global commodity prices soared and the yen slumped against the dollar.

Germany and Italy told companies they could open rouble accounts to keep buying Russian gas without breaching sanctions against Moscow following discussions with the European Union, sources said.

European and Asian markets took a beating Thursday, while the dollar tumbled a day after Wall Street suffered one of its worst batterings in two years over recession fears amid decades-high inflation.

India today supplied another 40,000 tonnes of diesel to the economic-crisis plagued Sri Lanka under the credit line facility to the island nation.

Russian Deputy Prime Minister Alexander Novak said Thursday that about half of the 54 companies that have natural gas contracts with energy giant Gazprom opened accounts in rubles.

Pakistan has banned the import of all non-essential luxury goods in a bid to stabilise the economy, the information minister said on Thursday, describing the situation as an economic emergency.

Oil prices fell on Thursday, following earlier gains, on concerns that high fuel prices could hurt economic growth, but planned easing of restrictions in Shanghai and a tight supply outlook capped loss.

A sharp slowdown in China’s economy caused by its strict zero-Covid rules and Beijing’s shift away from a traditional reliance on external demand have cast doubts over how much the country will contribute to future global trade and investment.

The United States is unlikely to fall into a recession as interest rates rise to fight soaring inflation, the US treasury secretary said Wednesday, while warning of the risks for Europe following the invasion of Ukraine.

Austria on Wednesday presented an emergency plan to reduce its reliance on Russian gas over potential supply cuts from Moscow as tensions soar over the war in Ukraine.

India has called out western countries and cautioned that food grains should not go the way of Covid-19 vaccines, as it voiced concern over hoarding, discrimination and the “unjustified increase” in food prices which threaten food security of vulnerable countries amidst the war in Ukraine.

British inflation surged last month to its highest annual rate since 1982, pressuring finance minister Rishi Sunak to offer more help for households and the Bank of England to keep raising interest rates despite a risk of recession.

Indian air conditioner manufacturers are expecting record sales this year as a heatwave scorches most of the country, an industry body told Reuters, but delayed arrivals of components from Covid-hit China may cause shortages of premium products.