Most Asian markets sank Tuesday as further weakness in China’s economy fuelled worries about the effects on global growth, overshadowing optimism that the United States is winning its battle against inflation and could avoid a recession.

Britain said on Tuesday it intends to start talks with Turkey over refreshing their bilateral free trade deal, with a view to including services and the digital sector in any future agreement.

China is entering an era of much slower economic growth, raising a daunting prospect: it may never get rich.

Oil prices edged higher on Tuesday as investors weighed a possible tightening of US crude supplies against weaker-than-expected Chinese economic growth.

The dollar drifted near a 15-month low against its major peers on Tuesday, as investors awaited fresh catalysts to gauge for downside in the wake of last week’s cooler-than-expected US inflation.

But retail prices still unhurt by Russia’s grain deal exit

China is entering an era of much slower economic growth, raising a daunting prospect: it may never get rich.

Bangladesh and India began settling cross-border trades in the Indian rupee (INR) last week, a development that has been hailed as a landmark for the growing bilateral commerce in general and for Bangladesh in particular.  

Saudi Arabia’s annual inflation rate eased to 2.7 per cent in June from 2.8 per cent the previous month, government data showed on Sunday.

Oil dropped by more than 1 per cent on Monday after weaker than expected Chinese economic growth fuelled concern over demand in the world’s second-biggest oil consumer while a partial restart of halted Libyan output also pressured.

China’s lower-than-expected growth in the second quarter comes as the world’s second largest economy is hit by sluggish consumption, a real estate sector in crisis and worries over deflation.

A deal allowing Ukraine to export grain via the Black Sea will expire at the end of Monday after Russia said it will suspend its participation.

Indian traders have been scooping up Chinese steel at a deep discount, industry officials and analysts said, spooking Indian producers ahead of a seasonal pick up in domestic demand.

Bangladesh’s wheat market may see fresh volatility after Russia pulled out of a United Nations and Turkey-brokered deal that could turn the global grain market unstable, importers warn.

The deal, brokered by the United Nations and Turkey last July, aimed to alleviate a global food crisis by allowing Ukrainian grain blocked by the Russia-Ukraine conflict to be exported safely

Russia said on Monday that it had halted participation in a landmark UN-brokered deal which allowed Ukrainian grain to be exported through the Black Sea just hours after Moscow said Ukraine had attacked the Crimean Bridge.

The last ship left Ukraine under the deal on Sunday. Russia's February 2022 invasion and blockade of Ukraine's Black Sea ports sent global grain prices soaring. Ukraine and Russia are among the world's top grain exporters.

A flurry of economic data from China on Monday is expected to show its post-pandemic bounce is quickly fizzling out, raising expectations that Beijing needs to unveil more stimulus measures soon to shore up activity and shaky consumer confidence.

The UK government on Sunday hailed what it said was its biggest trade deal since Brexit, as it formally signed a treaty to join a major Indo-Pacific bloc.

Twitter owner Elon Musk said Saturday that the social media platform he bought for $44 billion last October has lost roughly half of its advertising revenue.