The Indian rupee plunged to an all-time low against the greenback on Monday, as US monetary policy tightening roiled sentiment and foreign investors continued to dump domestic stocks.

The G7 club of wealthy nations committed Sunday to phasing out its dependency on Russian oil and issued a scathing statement accusing President Vladimir Putin of bringing  “shame” on Russia with his invasion of Ukraine.

The Indian rupee fell to a new all-time low early today (May 9, 2022), trading beyond 77.40 per US dollar, driven by investors’ need for safety as China’s lockdowns, war on the outskirts of Europe, and fears of increased interest rates sent a fearful jolt through markets, according to NDTV.

The need to secure new sources of metals for the energy transition amid sanctions on top producer Russia has increased the Africa risk appetite for major miners, who have few alternatives to the resource-rich continent.

The China-backed Asian Infrastructure Investment Bank (AIIB) is considering granting $100 million in emergency support to Sri Lanka, the country’s finance ministry said on Sunday.

As urban traffic gets more miserable, entrepreneurs are looking to a future in which commuters hop into  “air taxis” that whisk them over clogged roads.

Zimbabwe’s government on Saturday ordered banks to stop lending with immediate effect in a move Harare said was designed to stop speculation against the Zimbabwean dollar and was part of a raft of measures to arrest its rapid devaluation on the black market.

The European Union, the United States and more than two dozen other countries vowed Friday to shore up global food security in a joint statement to the World Trade Organization.

President Xi Jinping has offered state backing for tech, infrastructure and jobs to revive China’s economy, but analysts warn growth will continue to wilt until Beijing drops its rigid virus controls.

Uber shares skidded last week after the company said it was hit with a big loss in the first three months of this year despite a rebound in its ride-share business.

China’s central bank said on Friday it launches a 100 billion yuan ($15 billion) relending facility to support the transport, logistics and storage sectors which have been hit hard by Covid-19.

Bangladesh Bank today granted Sri Lanka another year to repay the USD 200 million loan to give the Island nation a respite so that it can overcome its worst ever debt and economic crises.

China’s strict zero-Covid policy has led to a plunge in confidence among European companies operating in the country as supply chains are tangled, revenue projections fall and staff leave, according to a business group survey released Thursday.

Turkey’s official inflation rate spiralled to nearly 70 per cent in April, data showed on Thursday, posing a huge challenge to President Recep Tayyip Erdogan, whose unconventional economic policies are often blamed for the economic turmoil.

Reliance Industries became the first Indian company to cross $100 billion in annual revenues after the oil-to-telecoms giant reported strong quarterly results across its energy, telecoms and retail businesses Friday.

US and Chinese regulatory officials are in talks to settle a long-running dispute over the auditing compliance of US-listed Chinese firms, three people briefed on the matter told Reuters.

Brazil and Guyana on Friday agreed to broaden energy cooperation during a visit by President Jair Bolsonaro to Georgetown, in which the South American neighbors also signed infrastructure and legal deals.

From bars to factories to warehouses, American businesses hired staff with vigor in April as the US economy recovers from the damage done by Covid-19 while grappling with inflation that has hit the highest rate in decades.

Poland and the Baltic states Thursday inaugurated a new gas pipeline that links the north-eastern EU with the rest of the bloc, a crucial step towards reducing dependence on Russian gas.

The Federal Reserve announced its biggest rate hike since 2000, with a half percentage point increase as it works to crush soaring US inflation.