IBT Staff Reporter

Gold fell on Tuesday pressured by rate hike expectations and a stronger dollar, but growing recession fears kept safe-haven bullion above the key support level of $1,800 an ounce.

Gold prices eased in a narrow range on Tuesday, as an elevated dollar and impending interest rate hikes overpowered support from underlying concerns over the global economic outlook.

Gold prices rose marginally on Tuesday, buoyed by economic growth concerns, although an elevated dollar and impending interest rate hikes kept gains in check.

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Philippine inflation surged to the highest level in nearly four years in June, cementing expectations for more interest rate hikes and increasing the prospect of the central bank acting more aggressively to temper price pressures.

Oil plummeted about 9% on Tuesday in the biggest daily drop since March on growing fears of a global recession and lockdowns in China that could slash demand.

Oil plummeted nearly $12 a barrel on Tuesday in the biggest daily drop since March and the decline spread to other energy sectors amid worries of a global recession.

Oil prices slipped on Tuesday, reversing earlier gains, as concerns of a possible global recession curtailing fuel demand outweighed supply disruption fears, highlighted by an expected production cut in Norway.

Brent oil prices slipped on Tuesday, reversing earlier gains, as concerns of a possible global recession curtailing fuel demand outweighed supply disruption fears, highlighted by an expected production cut in Norway.

Brent oil prices dipped on Tuesday, reversing earlier gains of $1, as concerns of a possible global recession curtailing fuel demand outweighed supply disruption fears, highlighted by a potential production cut in Norway.

Brent oil prices were little changed on Tuesday, reversing earlier gains of $1, as investors weighted supply concerns, highlighted by a potential production cut in Norway, and worries about a possible global recession curtailing fuel demand.

Brent crude futures extended gains on Tuesday as a strike in Norway is expected to disrupt oil and gas output, fanning tight supply worries.

Concerned about how Indonesian students with hearing impairments often miss out on religious education, cleric Abdul Kahfi founded an Islamic boarding school to help them study and recite scripture from the Koran using sign language.

Torrential rains kept battering Australia's east coast on Tuesday, intensifying the flood crisis in Sydney as thousands more residents were ordered to leave their homes after rivers swiftly rose past danger levels.

Torrential rains kept battering Australia's east coast on Tuesday, intensifying the flood crisis in Sydney as thousands more residents were ordered to leave their homes after rivers swiftly rose past danger levels.

South Korea's inflation last month hit the highest since the Asian financial crisis more than two decades ago, adding to signs of building strains on the open, trade-dependent economy and fanning expectations of a big rate hike by the central bank.

South Korea's June inflation accelerated to the fastest pace since the Asian financial crisis, fanning expectations the central bank could deliver a 50 basis point rake hike for the first time next week to cool prices and curb capital outflows.

By Lucy CraymerWELLINGTON -New Zealand's business confidence continued to worsen in the second quarter of this year as companies grappled with increased costs and higher interest rates, a private think tank said on Tuesday.

July 4 gunman charged with seven counts of murder

Ireland's reliance on just 10 multinational firms to pay over half of the country's soaring corporate tax receipts represents an "incredible level of vulnerability" for the economy, the finance ministry's chief economist warned on Monday.

In the east of Ukraine, 'the best thing is to leave'

Though Russia can claim a prize with its capture of Ukraine's eastern Luhansk region, it is far from Moscow's ambitious early war aims and does not deal Kyiv a decisive military blow.

Ecuadorian Health Minister Ximena Garzon resigned on Monday from the government of President Guillermo Lasso, following earlier news that Economy Minister Simon Cueva would also leave the administration.

Ecuador's Finance Minister Simon Cueva will exit the Andean country's government amid a cabinet reshuffle following more than two-weeks of protests, the Secretary of Public Administration, Ivan Correa said on Monday.

The Ohio city of Akron declared a state of emergency on Monday, setting a curfew and canceling Independence Day fireworks, after protests over the police killing of an unarmed Black man turned unruly on Sunday night.

The Ohio city of Akron declared a state of emergency on Monday, setting a curfew and canceling Independence Day fireworks, after protests over the police killing of an unarmed Black man turned unruly on Sunday night.

The Norwegian government on Tuesday intervened to end a strike in the petroleum sector that had cut oil and gas output, a union leader and the labour ministry said, ending a stalemate that could have worsened Europe's energy supply crunch.

Norway's labour minister summoned oil and gas industry executives and a striking labour union to a meeting on Tuesday in a sign that the government could intervene to stop the conflict which has cut the country's petroleum output.