British inflation has rocketed to its highest level for more than 10 years on broad-based price gains, data showed on Wednesday, sparking fears that wages will fail to keep pace on the eve of a Bank of England interest rate decision.

Russian investigators said yesterday they had detained tycoon Mikhail Fedyayev after a blast at a coal mine in Siberia that killed 51 people last month.

The Canadian government on Tuesday cut its deficit forecast for the current fiscal year, citing higher tax revenues and less emergency aid spending, while earmarking new funds to fight the Omicron coronavirus variant.

Global shares fell on Tuesday and the US dollar rose again as investors held their breath ahead of the update on monetary policy due out from the Federal Reserve on Wednesday.

China’s retail sales grew slower than expected in November with consumers cautious as domestic coronavirus cases rose, official data showed Wednesday, but industrial output picked up after power shortages eased.

China’s economically important Zhejiang province wrestled on Tuesday with a Covid outbreak that has caused some districts to shut down businesses and left hundreds of thousands of people facing quarantine or other restrictions.

Mexico is not ruling out the possibility of appealing to an international panel over tax incentives proposed by the United States for some US-made electric vehicles, President Andres Manuel Lopez Obrador said on Tuesday.

Top executives of major US airlines will tell a Senate committee Wednesday they are ramping up hiring even as some raise concerns about a Covid-19 variant on demand, according to testimony seen by Reuters.

US lawmakers voted to raise the federal debt limit on Wednesday, eliminating the threat of a disastrous credit default with just hours to spare ahead of the deadline set by the Treasury.

The Federal Reserve opened its two-day policy meeting on Tuesday, focused squarely on how to address the troubling US inflation threat.

The government will sign a preferential trade agreement (PTA) with Nepal soon to boost trade between the two South Asian nations, Commerce Secretary Tapan Kanti Ghosh said yesterday.

The Omicron coronavirus variant will slow the recovery in global demand for oil but the market will be “more comfortable” in 2022, the International Energy Agency said on Tuesday.

The Asian Development Bank warned Tuesday that the highly mutated Omicron coronavirus variant could have a  “substantial” economic impact, as it trimmed its 2021 and 2022 growth forecasts for developing Asia.

Toyota hiked its electric vehicle sales goal by 75 per cent on Tuesday, unveiling a more ambitious plan for the sector as part of efforts to drive down carbon emissions.

India’s retail inflation accelerated in November, led by a rise in food prices, but remained within the medium-term target of the central bank, strengthening views that the bank could keep interest rates on hold at its next meeting in February.

The Asian Development Bank warned Tuesday that the highly mutated Omicron coronavirus variant could have a "substantial" economic impact, as it trimmed its 2021 and 2022 growth forecasts for developing Asia.

American businesses stand to lose more than 3 million days of operations from flooding in 2022 and will face worsening economic fallout in the coming decades as climate change fuels ever more extreme weather events, researchers said yesterday.

The Bank of  Canada was to renew its monetary policy framework on Monday,  leaving its inflation target unchanged at 2% as concern about the cost  of living rises and the COVID-19 outlook remains uncertain.

Saudi Arabia approved its 2022 budget on Sunday, projecting a surplus for the first time since oil prices collapsed in 2014.

Afghanistan’s growing economic crisis deepened on Wednesday as the afghani currency fell to the hitherto unseen level of 125 to the dollar, less than a week after breaching 100, adding to growing pressure on prices of food and other staples.