IBT Staff Reporter

Wall Street was set to open higher on Tuesday and European shares were set for a second day of gains, recovering slightly from last week's 17-month lows, but major central banks' rate hike plans and global recession risks kept investors cautious.

Stocks rose and the safe-haven dollar edged down on Tuesday as investors paused for breath after a steep selloff, but concerns remain about aggressive central bank interest rate hikes and risks of a global recession.

Asian stocks and U.S. share futures turned higher on Tuesday as the market took stock after a recent steep selloff, but concerns remain that aggressive central bank rate hikes to curtail inflation could spark a global recession.

South Korea's second test launch of its domestically produced Nuri rocket successfully placed several satellites in orbit on Tuesday, officials said, taking a major step in efforts to jumpstart its space programme after a first test failed last year.

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For Iraqis a sweltering summer of 'hell' has begun

Thousands of indigenous demonstrators marched through Ecuador's capital on Monday urging President Guillermo Lasso to agree to demands for economic and social support, the latest in a series of protests that have injured dozens and disrupted the economy.

The Philippine central bank will raise rates by a modest 25 basis points for a second straight meeting in June, opting to move more slowly than its global peers in an attempt to cool soaring inflation, a Reuters poll forecast.

The Philippine central bank will raise rates by a modest 25 basis points for a second straight meeting in June, opting to move more slowly than its global peers in an attempt to cool soaring inflation, a Reuters poll forecast.

UK hit by biggest rail strike in over 30 years

The Japanese yen plunged against the U.S. dollar on Tuesday to its lowest level since October 1998, as the Bank of Japan's ultra-loose monetary policy was in stark contrast with an aggressive Federal Reserve determined to stamp out soaring inflation.

The euro rose on Tuesday, drawing support from the European Central Bank's plans to raise interest rates to contain inflation, while the yen slumped to a 24-year low as the Bank of Japan's ultra-loose monetary policy stance continued to weigh.

The Australian dollar edged up a fraction after remarks from the central bank governor pointing to more rate hikes down under, but fears of slowing global growth capped gains, while the Japanese yen retested a 24-year low.

The Australian dollar rose on Tuesday after the central bank flagged more rate hikes were on the way, but the uptick was restrained by lower commodity prices, while the Japanese yen languished near a 24-year low.

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Bank Indonesia will leave its key interest rate steady at 3.50% on Thursday but over one-quarter of economists in a Reuters poll expect a rate rise to stem imported inflation from a weak rupiah currency as the U.S.

Bank Indonesia will leave its key interest rate steady at 3.50% on Thursday but over one-quarter of economists in a Reuters poll expect a rate rise to stem imported inflation from a weak rupiah currency as the U.S.

Bryan Ong has made it his mission to preserve items that tell the story of Hong Kong's British colonial past even as Beijing increasingly shapes life in the city that is firmly back in the fold of the mainland.

Rugby league banned transgender players from women's international competition on Tuesday until further notice, following global swimming's decision to restrict trans athletes' participation at the elite level.

Oil prices edged up on Tuesday on high summer fuel demand while supplies remained tight because of sanctions on Russian oil after its invasion of Ukraine.

Oil rose $1 per barrel on Tuesday on high summer fuel demand while supplies remained tight because of sanctions on Russian oil after its invasion of Ukraine.

Oil rose $2 per barrel on Tuesday on high summer fuel demand while supplies remain tight because of sanctions on Russian oil after its invasion of Ukraine.

Oil prices rose almost $2 on Tuesday on high summer fuel demand while supplies remain tight because of sanctions on Russian oil after its invasion of Ukraine.

Oil prices rose on Tuesday on high summer fuel demand while supplies remain tight because of sanctions on Russian oil after its invasion of Ukraine.

Oil prices rose on Tuesday, clawing back more of last week's losses as investors focused on tight supplies of crude and fuel products rather than concerns about a recession dampening demand going forward.

Oil prices rose 1% on Tuesday, clawing back more of last week's losses as investors focused on tight supplies of crude and fuel products rather than concerns about a recession dampening demand going forward.

Oil prices rose 1% in early trade on Tuesday, clawing back more of last week's losses as the focus returned to tight supply of crude and fuel products versus concerns about a recession hitting demand down the track.

Dmitry Muratov, the co-winner of the 2021 Nobel Peace Prize and the editor of one of Russia's last major independent newspapers, auctioned off his Nobel medal for a record $103.5 million to aid children displaced by the war in Ukraine.