Qatar’s energy minister warned on Tuesday the  “worst is yet to come” for Europe’s oil and gas shortages, saying a warm winter had prevented greater difficulties in recent months.

India’s palm oil imports in May are set to fall to their lowest in 27 months as its rare premium other edible oils prompted buyers to cancel cargoes and replace them with soyoil and sunflower oil, dealers and cargo surveyors said on Tuesday.

The interbank exchange rate for the US greenback has reached a record high of Tk 108.75 per dollar as Bangladesh continues to face a shortage of the foreign currency.

The Indian rupee closed higher for the first time in five sessions on Tuesday when investors evaluated hawkish comments from US Federal Reserve officials and progress in the debt ceiling talks.

Indonesia and Iran signed a trade agreement on Tuesday in Jakarta, where President Joko Widodo hosted his Iranian counterpart Ebrahim Raisi.

India’s economy has sustained the growth momentum seen in the last fiscal quarter of 2022/23, while latest inflation outcome has been better than forecast, the Reserve Bank of India said on Monday.

China kept its benchmark lending rates unchanged for the ninth month in May on Monday, matching market expectations, as a weakening yuan and widening yield differentials with the United States limited the scope for any substantial monetary easing.

Abu Dhabi organisations have identified about $2 billion of investment opportunities in South Korea after the two sides agreed to expand business ties in January, a joint statement said on Monday.

Opec Secretary General Haitham Al Ghais said on Monday that underinvesting in the oil and gas sector could cause market volatility in the long term and imperil growth.

Almost half of medium-sized British companies plan to delay investment plans due to last month’s rise in corporation tax, a survey published on Monday found.

The Indian central bank’s decision to withdraw its highest denomination currency note from circulation is likely to improve banking system liquidity, bringing down recently elevated short-term rates, analysts and bankers said.

Oil prices were steady on Monday as caution relating to US debt ceiling talks dragged on optimism over demand later in the year and offset support from lower supplies from Canada and Opec+ producers.

Brent crude futures fell 48 cents, or 0.6 per cent, to $75.10 a barrel by 0201 GMT while US West Texas Intermediate (WTI) crude for July delivery, the more actively traded contract, fell 45 cents, or 0.6 per cent, to $71.24.

Ford Motor Co is recalling 422,000 sport utility vehicles in the United States because the video output may fail even after getting a prior recall repair, preventing the rear-view camera image from displaying.

President Joe Biden on Sunday slammed Republican demands in negotiations to resolve the US debt ceiling standoff as  “unacceptable” but said a solution can still be found before a disastrous default.

Bangladesh has again demanded that garments made from US cotton be provided duty-free access to the American markets as the government has withdrawn a provision requiring fumigation of American cotton, Senior Commerce Secretary Tapan Kanti Ghosh said yesterday.

An onslaught of crises is hitting developing countries the hardest. Multiple challenges—climate change, surging debt, sticky inflation, high interest rates, depreciating currencies, conflict, and food insecurity—are imperiling families' ability to put food on the table, send their children to school, and weather natural disasters.

The G7, the European Union and Australia agreed to impose a $60-per-barrel price cap on Russian seaborne crude oil and also set an upper price limit for Russian oil products to deprive Moscow of revenues for its invasion of Ukraine.

US President Joe Biden and top congressional Republican Kevin McCarthy could speak as soon as Sunday in talks over raising the federal $31.4 trillion debt ceiling.

German carmaker Volkswagen said Friday it had completed the sale of its Russian assets to local dealership group Avilon, as part of its exit from the country following Moscow’s invasion of Ukraine.