IBT Staff Reporter

World stocks fell on Thursday and bonds resumed their slide after a surprise Swiss interest rate hike fuelled concerns about surging inflation and an aggressive policy tightening outlook from global central banks.

World stocks fell on Thursday and bonds resumed their slide after a surprise Swiss interest rate hike fuelled fresh concerns over surging inflation and an aggressive policy tightening outlook from global central banks.

World stocks fell on Thursday and the dollar regained its footing on concerns over the impact of surging inflation and an aggressive policy tightening outlook from global central banks.

Oil prices erased early gains to fall to two-week lows on Thursday on the back of inflation concerns highlighted by interest rate hikes in the United States, Britain and Switzerland, though tight oil supply limited losses.

Oil prices recovered on Thursday from a steep drop in the previous session, supported by tight oil supply and peak summer consumption, after a hefty U.S.

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China's new home prices in May fell for the second month this year, depressed by still fragile demand as widespread COVID-19 curbs dented already weak buyer confidence, suggesting more policy stimulus is needed to return the market to growth.

China's May new home prices fell for the second month this year, official data showed on Thursday, depressed by still fragile demand as widespread COVID-19 curbs dented already weak buyer confidence in the property market.

The Swiss franc soared against the dollar and the euro on Thursday after the Swiss National Bank delivered a surprise interest rate hike, while the British pound rose after the Bank of England delivered a rate hike of its own.

The Swiss franc soared on Thursday after the Swiss National Bank (SNB) delivered a surprise interest rate hike, triggering its biggest daily jump against the euro since the central bank ditched its currency peg in 2015.

The Swiss franc soared on Thursday after the Swiss National Bank delivered a surprise interest rate hike, triggering its biggest daily jump against the euro since the central bank ditched its currency peg in 2015.

The Swiss franc jumped on Thursday against the euro and the dollar after the Swiss National Bank raised its policy interest rate for the first time in 15 years.

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R.M.R Lenora stood in a snaking queue outside Sri Lanka's Immigration and Emigration Department headquarters for two days last week, hoping to get a passport and, with it, a chance to leave a country wilting under an economic crisis.

Three competing plans to curb companies from exaggerating their green credentials could lead to more frustration and costs for businesses, especially starting next year.

North Korea reported an outbreak of an unidentified intestinal epidemic in a farming region on Thursday, putting further strain on the isolated country as it battles chronic food shortages and a wave of COVID-19 infections.

The leaders of Germany, France and Italy, all criticised in the past by Kyiv for support viewed as too cautious, visited Ukraine on Thursday and offered the hope of EU membership to a country pleading for weapons to fend off Russia's invasion.

The leaders of Germany, France and Italy - all criticised in the past by Kyiv for support viewed as too cautious - made a joint visit on Thursday to show solidarity with Ukraine, where officials pleaded for more Western arms.

The leaders of Germany, France and Italy - all criticised in the past by Kyiv for support viewed as too cautious - made a joint visit to Ukraine on Thursday, touring a town devastated by Russia's invasion.

The leaders of Germany, France and Italy rode into Kyiv on an overnight train on Thursday in a joint demonstration of support for Ukraine, where officials were pleading for more and faster deliveries of Western arms to hold off Russia's assault.

Ukraine said it urgently needed more weapons to fend off Russian advances in the south and the east, an appeal aimed at the West as the leaders of Germany, France and Italy headed to Kyiv by night train for a visit on Thursday.

Ukraine said it urgently needed more weapons to fend off Russian advances in the south and the east, an appeal aimed at the West as the leaders of Germany, France and Italy are expected to visit Kyiv on Thursday.

A food security crisis stoked by the Ukraine war is set to push more people to flee their homes in poorer countries, driving record levels of global displacement even higher, the head of the U.N.

Japan ran its biggest single-month trade deficit in more than eight years in May as high commodity prices and declines in the yen swelled imports, clouding the country's economic outlook.

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Protests in Ecuador will continue until President Guillermo Lasso solves economic and environmentnal issues affecting the country, indigenous leader Leonidas Iza said on Wednesday after he was freed from detention on a judge's order.

The Bank of England stuck to its gradual increases in interest rates on Thursday, as other central banks took more urgent action, but said it was ready to act "forcefully" if needed to stamp out dangers posed by inflation it now sees topping 11%.