US and European stocks wobbled on Friday despite a key gauge showing inflation to be slowing, as investors remain concerned about recession risks.

Inflation is likely to remain high for another two years as companies pass on higher input costs and in some cases exaggerate them, the head of the council of economists that advises the German government was quoted as saying on Saturday.

The Maldives criminal court on Sunday sentenced former president Abdulla Yameen to 11 years in prison and fined him $5 million after finding him guilty of corruption and money laundering charges related to receiving kickbacks from a private company.

India's foreign exchange reserves snapped a five-week rising streak and fell to $563.5 billion in the week through Dec. 16, the Reserve Bank of India's (RBI) statistical supplement showed on Friday.

The Canadian economy grew by 0.1 per cent in October and is expected to expand at the same pace in November, data showed on Friday, a sign that the full impact of seven consecutive interest rates hikes this year has yet to play out.

The number of passenger movement at 20 Indonesian airports during the Christmas and New Year holiday this year is expected to reach 2.54 million passengers, PT Angkasa Pura II (AP II) predicts, as the state-owned operator readies its service to accommodate the end-of-year peak season.

Three Japanese insurance companies will stop insuring ships for damage in all Russian waters due to the war in Ukraine, potentially affecting Japan’s energy imports including liquefied natural gas (LNG), the Nikkei newspaper said on Saturday.

Global ratings agency S&P Global on Thursday cut Pakistan’s long-term sovereign credit rating by one notch to “CCC+” from “B” to reflect a continued weakening of the country’s external, fiscal and economic metrics.

Oil prices settled about $3 per barrel higher on Friday for a second straight week of gains after Moscow said it could cut crude output in response to the G7 price cap on Russian exports.

The US economy expanded 3.2 per cent in the third quarter, the Commerce Department said Thursday, in a further upward revision of data reflecting stronger consumer spending and investment than earlier estimated.

Prices in Japan rose at their fastest pace since 1981 in November, data showed Friday, fuelled in part by higher energy costs.

Two years after Britain’s departure from the European Union, bosses of UK businesses are reeling from the cost of Brexit, including some who voted to cut ties with Brussels.

Japanese insurers will stop providing coverage for ship damage suffered in Russian waters, a decision that could potentially disrupt Japan's imports from Russia's gas and oil producers in Sakhalin, people familiar with the matter said Saturday.

Consumer confidence in the US economy spiked in December, bouncing more than expected as inflation expectations dipped and gas prices cooled, survey data showed on Wednesday.

Britain’s economy contracted slightly more than thought in the third quarter, revised official data showed on Thursday.

Oil prices climbed for a fourth straight day and hit their highest in two and a half weeks on Thursday with US crude, heating oil and jet fuel stocks growing tighter just as a wintry blast hits the United States.

The Indian rupee advanced against the US currency on Thursday, tracking a fall in the dollar index ahead of US data.

November export orders from Taiwan saw their sharpest contraction since the height of the financial crisis, in a portend for the health of the global economy.

German consumers are heading into 2023 feeling slightly less gloomy than in recent months, a key survey found Wednesday, as government interventions take some of the sting out of soaring energy costs.

India’s central bank governor warned Wednesday that cryptocurrency markets risked causing the next global financial crisis, saying the recent collapse of FTX was proof of the sector’s “inherent risks”.