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India's record $25.6-bn trade deficit in June adds pressure on rupee

Rupee has plunged 6% against the dollar this year, weighed down by broad strength in the greenback and as investors retreated from domestic share markets

US dollar weakens against euro, sterling in quiet trading session

By Joice Alves

Global stocks rise in holiday mood on resilient oil; Nikkei up 0.84%

Global stocks have risen banking on a US holiday mood, with oil prices recover based on tight supply balancing US recession fears

Gold edges lower as July rate hikes loom; silver near lowest level in 2 yrs

Gold is currently ranging above $1,800 backed by Treasury yields and the spike in US dollar strength

Rebound in oil prices gives world stocks a lift in holiday trade

A rebound in oil prices on concerns of tight supply gave world stocks a lift on Monday in a session hit by a US holiday

Maruti Suzuki to phase out pure petrol-powered cars in 10 years: Report

Automaker Maruti Suzuki India Ltd will phase out vehicles that run completely on petrol in seven to ten years, the Economic Times newspaper reported on Monday, citing a senior executive

India to drop windfall tax if oil prices fall $40 a barrel: Revenue Secy

The windfall tax on firms that have increased product exports to gain from higher overseas margins took effect on July 1, as the government moves to boost domestic supply and revenue

Monsoon rains cover entire India but still 5% down on average so far

The progress of the monsoon, which delivers about 70% of the country's annual rainfall, is crucial for rice output and exports from India

Google to pay $90 million to settle lawsuit with app developers

The lawsuit was filed in San Francisco

China takes fresh steps to open $20 trillion bond market to foreigners

Overseas investors reduced holdings of Chinese bonds for a fourth consecutive month in May, as diverging monetary policies kept Chinese yields pinned below their US counterparts

European Union approves rules to tame 'Wild West' crypto market

Globally, crypto assets are largely unregulated, with national operators in the EU only required to show controls for combating money laundering

Meta Platforms slashes hiring plans, girds for 'fierce' headwinds

Meta confirmed hiring pauses in broad terms last month, but exact figures have not previously been reported

China's Great Wall Motor shelves $1 billion India investment plan: Report

The automaker has been planning to enter Indian market since 2020 and the failure to secure approvals makes it one of biggest casualties of New Delhi's increased scrutiny of investments from Beijing.

Second half of 2022 starts with more declines in global stocks, yields

US Treasury yields tumbled on market expectations that US consumer prices will come down close to the Federal Reserve's inflation target.

Wall Street begins second-half with losses on economic growth worries

Dow Jones Industrial Average was down 114.85 points, or 0.37%, at 30,660.58, the S&P 500 was down 9.89 points, or 0.26%, at 3,775.49

Global factory growth feeble in June, feeding economic recession fears

Between central banks digging their heels in to counter inflation and growing fears there is absolutely no path to a soft landing for the global economy, there are few, if any, places to hide

India likely to receive 94% to 106% of expected monsoon rain in July

India received 8% lower rainfall than average in June because of a scanty monsoon in the central parts of the country

Oil prices fall on recession fears, on track for third weekly loss

Brent crude futures were down 43 cents, or 0.4%, at $108.60 a barrel by 0653 GMT, giving up earlier gains of more than $1

Dollar heads for weekly gain as investors weigh rates, recession risks

The dollar index inched up 0.07% in Asian trading, after a 0.32% drop overnight when it was undermined by weaker-than-expected consumer spending data

Gold set for third weekly fall on dollar strength, aggressive rate hikes

Spot gold was down 0.2% at $1,804.26 per ounce, as of 0258 GMT, after hitting an over six-week low of $1,801.50 in the previous session. U.S. gold futures dipped 0.1% to$1,805.00