The International Monetary Fund said on Wednesday that it has asked cash-strapped Sri Lanka to  “restructure” its huge foreign debt before a bailout programme could be finalised as anti-government protests escalated across the island.

The war in Ukraine will weigh heavily upon economic growth in the eurozone, the IMF said Tuesday, as the conflict wreaks havoc on energy prices and the manufacturing sector.

Asian stocks were digesting growth concerns in China and rising interest rates in the United States on Tuesday with Hong Kong dropping sharply while Japan edged higher on the back of a plummeting yen.

US Treasury Secretary Janet Yellen this week will call on her counterparts to ramp up the economic pain on Moscow over its invasion of Ukraine, a senior Treasury official said Monday.

Denmark presented on Tuesday a roadmap to end its dependence on Russian gas through a mix that includes renewable energy and biogas to become  “free” from President Vladimir Putin.

Buyers around the world are lining up to purchase electric vehicles this year even with sticker prices surging, flipping the script on a decade and a half of conventional auto industry wisdom that EV sales would break out only after battery costs dropped below a threshold that was always just over the horizon.

Debt accumulated by businesses and individuals worldwide could slow economic recoveries from the pandemic crisis, the IMF warned Monday.

The World Bank is seeking to create a $170 billion emergency fund to help the poorest nations being buffeted by multiple crises, the bank’s President David Malpass said Monday.

Benchmark lending rates for China’s commercial banks are likely to be lowered at a monthly fixing on Wednesday, a Reuters survey showed, as Beijing cautiously eases monetary conditions to aid an economy hit by coronavirus lockdowns in several cities.

More than 40 crypto business leaders have asked the European Union not to require crypto firms to disclose transaction details and dial down attempts to bring to heel rapidly growing decentralised finance platforms.

The International Monetary Fund on Tuesday slashed its forecast for global economic growth by nearly a full percentage point, citing Russia’s war in Ukraine, and warning that inflation was now a “clear and present danger” for many countries.

Oil prices fell in volatile trading on Tuesday on demand concerns after the International Monetary Fund (IMF) reduced its economic growth forecasts and warned of higher inflation.

India today urged the International Monetary Fund (IMF) to urgently provide financial assistance to the economic crisis-hit Sri Lanka.

Wall Street banks’ commodities trading exposures are rising, which could leave them vulnerable to large swings in asset values following Russia’s invasion of Ukraine, first quarter earnings disclosures showed.

China’s coal output rose 15 per cent in March from the same month a year ago, with daily production climbing to a record, as Beijing urged miners to crank up operations to ensure steady market supply.

Around 200,000 employees of foreign companies in Moscow could lose their jobs due to sanctions over Russia’s military campaign in Ukraine, the city’s mayor said on Monday.

Asian stocks closed lower on Monday in cautious trade, as figures showed China’s economic growth accelerated in the first quarter of the year, but the government warned of  “significant challenges” ahead.

Sri Lanka’s worst economic crisis has triggered an unprecedented wave of spontaneous protests as the island nation of 22 million people struggles with prolonged power cuts and a shortage of essentials, including fuel and medicines.

A key fuel retailer in Sri Lanka raised prices by up to 35 per cent on Monday as the cash-strapped government was set to open crucial bailout talks with the International Monetary Fund.

China’s economic growth accelerated in the first quarter of the year to 4.8 per cent, official data showed Monday, but the government warned of  “significant challenges” ahead while massive Covid-19 lockdowns started to bite.