Asia's factory activity shrank in July, private surveys showed on Tuesday, a sign slowing global growth and weakness in China's economy were taking a toll on the region's fragile recovery.

The Indian government has hiked windfall tax on petroleum crude to 4,250 Indian rupees ($51.68) per tonne from 1,600 Indian rupees with effect from August 1.

The European Union and the Philippines will restart negotiations on a free-trade agreement as they seek to accelerate “a new era of cooperation”, European Commission President Ursula von der Leyen said Monday.

Bangladesh is preparing to join the Regional Comprehensive Economic Partnership (RCEP) in a bid to retain duty benefits after making the United Nations status graduation from a least developed country (LDC) to a developing one in 2026.

Bangladesh is preparing to join the Regional Comprehensive Economic Partnership (RCEP) in a bid to retain duty benefits after making the United Nations status graduation from a least developed country (LDC) to a developing one in 2026.

Economic growth in the eurozone rebounded in the second quarter, data showed Monday, but concerns remain over inflation that is slowing yet still stubbornly high, and over stagnation in the German economy.

China’s manufacturing activity fell for a fourth straight month in July while the services and construction sectors teetered on the brink of contraction, official surveys showed on Monday, threatening growth prospects for the third quarter.

Chinese authorities announced new measures to boost consumption on Monday, as fresh economic data suggested that the country’s post-Covid recovery is running out of steam and growth is slowing.

Oil inventories are beginning to fall in some regions as demand outpaces supply constrained by deep production cuts from Opec leader Saudi Arabia, providing support for prices which are expected to rise in coming months.

The rate will be Tk 109 for the remitters

A Walmart spokesperson confirmed the transaction in an emailed response to Reuters but did not comment on financial details of the deal.

US chipmaker Advanced Micro Devices said on Friday it will invest around $400 million in India over the next five years and will build its largest design center in the tech hub of Bengaluru.

A key indicator of US inflation cooled in June to the lowest annual rate in over two years, although this remains above the central bank’s target, according to government data released Friday.

Oil prices rose on Friday and notched a fifth straight week of gains as investors were optimistic that healthy demand and supply cuts will keep prices buoyant.

Shell joined other energy majors Thursday in posting sliding profits after oil and gas prices weakened from peaks reached in the wake of Russia’s invasion of Ukraine.

A Liberian-flagged oil tanker set sail in May from Russia’s Ust-Luga port carrying crude on behalf of a little-known trading company based in Hong Kong. Before the ship had even reached its destination in India, the cargo changed hands.

The US Federal Reserve raised its benchmark lending rate on Wednesday to the highest level since 2001 to tackle above-target inflation, and signaled it could hike again later this year amid improving economic prospects.

A report by the Tax Justice Network (TJN) reveals

The 2023 edition of the Lloyd's List One Hundred Ports was published last week

The Biden administration is poised to increase outreach to western trading houses, insurers and tanker owners to remind them to abide by the Group of Seven's price cap on Russian oil as the crude trades over that level, sources and experts said.