India will withdraw its highest denomination currency note from circulation, the central bank said on Friday. The 2000-rupee note, introduced into circulation in 2016, will remain legal tender but citizens have been asked to deposit or exchange these notes by September 30, 2023.

The US government could start to run out of money if Congress fails to raise the debt ceiling by the end of the month. DW looks at the wider impact of a possible debt default.

India will withdraw its highest denomination currency note from circulation, the central bank said on Friday. The 2000-rupee note, introduced into circulation in 2016, will remain legal tender but citizens have been asked to deposit or exchange these notes by Sept. 30, 2023.

The US, UK, Denmark and other countries have called for more action, including increased surveillance, over the booming practice of unregulated oil transfers at sea, as fears grow over potential pollution, according to a paper submitted to the UN.

Russia’s gross domestic product shrank by 1.9 per cent in the first quarter of 2023, the country’s statistics agency Rosstat said Wednesday.

China needs to level the playing field between private and state-owned firms, the Asian Development Bank’s chief economist said on Thursday, adding that the world’s second-largest economy risks “wasting a tonne of money” with a state-led growth model.

Japan’s Panasonic Holdings Corp aims to ramp up production of battery cells used in electric vehicles by building at least two new factories in North America, it said on Thursday.

The state government of Meghalaya of India is keen to deepen economic and trade ties with Bangladesh, said Meghalaya Chief Minister Conrad Sangma, highlighting the possibility of direct import of garments, plastic products, electronic products, processed food and frozen food. 

If investors agree on one thing this year, it's that the dollar is going to fall. That's made the greenback's 2 per cent bounce over the last month particularly confusing.

The haven dollar climbed and global stock markets wavered Wednesday as investors fretted over the slow progress of talks seeking to raise the US debt ceiling.

Oil prices were steady on Wednesday after a surprise rise in US crude inventories stoked demand concerns as economic worries competed with a tighter supply outlook for later in the year.

US Treasury Secretary Janet Yellen on Tuesday warned that a default on government debt would likely leave millions of Americans without income payments, potentially triggering a recession that could destroy many American jobs and businesses.

The Indian rupee hit a more-than-six-week low against the US dollar on Wednesday, in line with the decline in other Asian currencies that tracked the fall in the Chinese yuan after weak economic data.

The International Monetary Fund’s no. 2 official said on Wednesday she sees sizeable risks that inflation will remain high or accelerate in many emerging markets and urged central banks to keep monetary policies tight.

A measure of debt across the globe rose in the first quarter to almost $305 trillion, and the rising cost to service that debt is triggering concern about the financial system’s leverage, a widely tracked study showed.

Japan’s economy grew faster than expected in the first quarter, official data showed Wednesday, helped by a recovery in inbound tourism after pandemic border restrictions were lifted.

Euro zone inflation accelerated last month, Eurostat said on Wednesday, confirming preliminary data pointing to increasingly stubborn price growth among the 20 nations sharing the euro.

India has cut windfall tax on petroleum crude to zero from 4,100 rupees ($50.13) per tonne, effective May 16, according to a government notification.

German investor confidence fell sharply in May, a key survey showed Tuesday, adding to fears of a downturn in Europe’s biggest economy.

Britain’s unemployment rate rose and there were other signs of less inflationary heat in the labour market in data published on Tuesday, prompting investors to scale back some of their bets on further Bank of England interest rate hikes.