GREECE'S latest austerity measures are choking off one of its few sources of local private investment, the funds management industry, thanks to massive tax hikes buried in 7,500 pages of financial reforms approved by the parliament last month.

India Monday announced a sweeping relaxation of foreign direct investment (FDI) rules in civil aviation, defence and a string of other sectors as part of efforts to open up the economy.

Embattled German auto giant Volkswagen will face the wrath of its shareholders at its annual meeting on Wednesday as it struggles to steer itself out of an unprecedented engine-rigging scandal.

The pound has jumped the most against the dollar in more than 7 years, as traders reassessed the likelihood of the UK leaving the European Union.

A Chittagong court yesterday sentenced a former bank official to six years in jail for two separate cases filed by the Anti Corruption Commission over misappropriating about Tk 9 lakh of depositors' money.

The central bank has increased the limit of the low-cost Export Development Fund for apparel exporters to $20 million from existing $15 million.

Japan fell into a trade deficit in May, the first since January, the finance ministry said Monday, as renewed yen strength pressured exports.

The naira plunged against the US dollar on Monday after Nigeria's government scrapped its fixed exchange rate and allowed market forces to determine the currency's value.

Philippine President-elect Rodrigo Duterte's new economic team on Monday promised sweeping changes to boost infrastructure, fix traffic woes, improve investment frameworks and maintain the country's robust economic growth.

Ten winners of the Nobel Prize in economics on Monday warned that leaving the European Union would "create major uncertainty" over Britain as a trading nation and inflicting lasting economic damage.

The US government's development finance institution has launched operations in Myanmar with a $250 million loan to a telecoms company, it said on Wednesday.

Sri Lanka's cabinet approved Wednesday the introduction of a capital gains tax for the first time in 14 years, as the island battles a revenue crisis that has forced an IMF bailout.

India's planned sugar export tax of 25 percent, intended to maintain local supplies, could boost opportunities for Indian refiners who unlike mills will not be subject to the tax, enabling them to sell to places such as Myanmar and Sri Lanka.

Iran is gradually restoring banking links with the rest of the world by forging ties with smaller foreign institutions, even though large global banks are still holding back because of legal risks, Iranian officials and foreign bankers say.

A major underground marketplace acting like an eBay for criminals is selling access to more than 70,000 compromised servers allowing buyers to carry out widespread cyber-attacks around the world, security experts said on Wednesday.

The world's biggest banks including Citi and Goldman Sachs will draft in senior traders to work through the night following Britain's referendum on EU membership, set to be among the most volatile 24 hours for markets in a quarter of a century.

British Finance Minister George Osborne, battling to keep the country in the EU, warned voters that he will take new austerity measures if they decide to leave the bloc in next week's referendum.

Russian oil giant Rosneft said Wednesday that low oil prices in the first quarter of the year had haemorrhaged its profits, with tumbled by 80 percent.

A worried World Bank slashed its growth forecast for the global economy Tuesday, saying advanced economies are rebounding more slowly than expected and low commodity prices continue to hurt other countries.

SIGNS are emerging that a downturn in the United States and China, the world's two biggest economies, may have bottomed out, the OECD's monthly leading indicator showed on Wednesday.