Oil prices slid on Monday as a flare-up in COVID-19 cases in Beijing quelled hopes for a rapid pick-up in China's fuel demand, while worries about global inflation and sluggish economic growth further depressed the market.
Oil prices sank more than 2% on Monday, as a flare-up in COVID-19 cases in Beijing and worries about more interest rate hikes raised concerns about the demand outlook.
Oil prices rose on Monday in a session of volatile trade as tight global supplies outweighed worries that demand would be pressured by a flare-up in COVID-19 cases in Beijing and more interest rate hikes.
Israel's government plans to sharply boost construction starts and expand a discount scheme aimed at restraining rapidly rising housing prices as demand continues to outstrip supply.
Ukraine has established two routes through Poland and Romania to export grain and avert a global food crisis although bottlenecks have slowed the supply chain, Kyiv's deputy foreign minister said on Sunday.
Pakistan's finance minister said on Saturday that the International Monetary Fund (IMF) has expressed concern about the country's recently unveiled budget, but the government is confident it can make changes to satisfy the lender.
India's fuel consumption jumped 23.8% in May from a year earlier, continuing a recovery from a relatively low base in 2021 when the world's third biggest oil consumer was in the grip of a second wave of COVID-19.
Blistering inflation is threatening to reignite twin declines in U.S.
Blistering inflation is threatening to re-ignite twin declines in U.S.
Pakistan Finance Minister Miftah Ismail on Friday unveiled the budget for the 2022/23 fiscal year starting July, aiming for economic growth of 5% amid pressure to control the fiscal deficit and secure International Monetary Fund bailout money.
Pakistan Finance Minister Miftah Ismail on Friday unveiled the budget for the 2022/23 fiscal year starting July, aiming for economic growth of 5% amid pressure to control the fiscal deficit and secure International Monetary Fund bailout money.
Stubbornly hot U.S. inflation is fueling bets that the Federal Reserve will get more aggressive in its bid to cool price pressures, with chances of a jumbo-sized interest rate hike seen rising and the policy rate expected to top 3% by year end.
Stubbornly hot U.S. inflation is fueling bets that the Federal Reserve will get more aggressive about trying to cool price pressures and even potentially ditch its own forward guidance by delivering a jumbo-sized interest rate hike in coming months.
The Czech government's plan to let companies pay taxes in euros from 2024 will enable the state to raise its borrowing in euros and it expects "low tens of percent" of firms to make the switch, Finance Minister Zbynek Stanjura told Reuters.
Gearing reinvestments of pandemic-era bond purchases back into stressed markets may not be enough to prevent unmanageable divergences in borrowing costs across the euro area as the ECB hopes after ending its bond buying, UBS warned on Friday.
Canada's jobless rate inched down to a new record low after adding more jobs than expected in May, and wage growth picked up steam, official data showed on Friday, bolstering the case for an even larger rate increase next month by the central bank.
U.S. consumer prices accelerated in May as gasoline prices hit a record high and the cost of food soared, leading to the largest annual increase in nearly 40-1/2 years, suggesting that the Federal Reserve could continue with its 50 basis points interest rate hikes through September to combat inflation.
U.S. President Joe Biden has promised his Brazilian counterpart Jair Bolsonaro the United States will reconsider tariffs levied on Brazilian steel as they held a bilateral meeting on Thursday, two Brazilian government sources said.
U.S. stocks were set to open sharply lower on Friday as consumer prices rose more than expected in May, dashing hopes that inflation is peaking and fanning worries about more aggressive steps by the Federal Reserve to tame it.
U.S. stock indexes slid on Friday as consumer prices rose more than expected in May, dashing hopes that inflation is peaking and fanning worries about more aggressive steps by the Federal Reserve to tame it.
U.S. stocks ended down sharply on Friday and posted their biggest weekly percentage declines since January as a steeper-than-expected rise in U.S.
French President Emmanuel Macron is banking on a new package of inflation-busting sweeteners for voters to secure a majority in legislative elections this month being fought over households' squeezed purchasing power.
Czech headline inflation soared to 16% in May, above expectations, to hit a nearly 30-year high, statistics office data showed on Friday.
Japan's government and the central bank are "concerned" about recent sharp yen declines and stand ready to respond as needed on currency policy, they said in a rare joint statement on Friday.
Turkey's lira has lost nearly a quarter of its value this year as soaring inflation and the central bank's reluctance to raise interest rates stoke fears of another currency crisis.
European shares extended losses to a fourth session on Friday, as market participants braced for May U.S.
European shares slumped 2.7% on Friday after U.S. inflation came in hotter than expected, raising the prospect of a recession as central banks try to put a lid on prices.
A shift by Thailand's central bank to a more hawkish footing this week stunned markets and appeared to finally end policymakers' tolerance for mounting price pressures, but a range of risks are likely to keep any tightening gradual.
The Bank of England said on Friday it was satisfied lenders had taken steps to ensure they were no longer "too big to fail" in any future crisis, though it found shortcomings at three major banks.
The Bank of England is satisfied lenders have taken steps to ensure they are no longer "too big to fail" in any future crisis, it said on Friday, though it did find shortcomings at three leading banks.
