Page 77 - Eco News Today

Oil prices rose on Thursday, reversing earlier losses, as a potential pause in U.S. interest rate hikes and the debt ceiling bill passing a crucial vote renewed optimism about further fuel demand growth in the world's biggest oil consumer.

The European Central Bank (ECB) has gone through most of its monetary policy tightening to bring inflation back to its medium-term target of 2%, though the cycle is not quite over yet, ECB Vice-President Luis de Guindos said on Thursday.

Brazil's lower house of Congress approved late on Wednesday a bill that curtails the powers of the ministries of the environment and Indigenous affairs.

Tensions between the United States and China are expected to loom over Asia's top security meeting this week, as China has declined a bilateral meeting between the superpowers' defence chiefs.

Most stock markets in the Gulf ended higher on Thursday as a potential pause in U.S. interest rate hikes and the debt ceiling bill passing a crucial vote renewed optimism, although lower oil prices capped gains.

Major stock markets in the Gulf rose in early trade on Thursday, as a potential pause in U.S. interest rate hikes and the debt ceiling bill passing a crucial vote renewed optimism.

Early signs of hot, dry weather caused by El Nino are threatening food producers across Asia, while American growers are counting on heavier summer rains from the weather phenomenon to alleviate the impact of severe drought.

The UAE began rolling out a 9% business tax on Thursday, with exemptions for the many free zones which power its economy, as the formerly tax-free oil producer seeks to boost non-oil revenue and remain a regional commercial hub.

India's services exports in April rose 7.5% on year to $25.84 billion, while imports recorded a 3.1% decline to $13.63 billion, provisional data published by the Reserve Bank of India showed on Thursday.

France prides itself on taking its food seriously, but many consumers are now tightening their belts or skimping on quality, hit by a record inflation rate that threatens to serve up another political headache for the government.