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Oil steadied on Tuesday near its lowest levels since early June as worries about demand in China were balanced by a government pledge of policy measures for the economy and the prospect of lower U.S. crude and product inventories. A raft of disappointing economic news from China, the world's largest crude importer, has been weighing on commodity prices. China's manufacturing activity likely shrank for a third month in July, a Reuters poll showed on Monday.

food inflation in India as analysts track food inflation with thali prices. Persistent food inflation has made the RBI's Monetary Policy Committee (MPC) hard in large measure due to prices of vegetables which are perishable in nature and also subject to vagaries of weather which have been made worse by climate change. Another item on the thali which keeps its price high is pulses, especially tur (also called arhar) dal which India imports in large measure. In June, prices of pulses surged 21.64% year-on-year, more than double the 9.21% increase seen a year ago, according to government data. India imported all major pulses, including tur, urad, masoor, chana and yellow peas, in 2023-24 due to low domestic production on account of erratic rainfall, spending around $3.74 billion during the financial year.

COSCO Shipping Corporation has signed a preliminary agreement with Australia's Fortescue to jointly build a green fuel supply chain to help reduce pollution from the shipping industry, the Chinese company said on Monday.

Adani Energy Solutions, led by billionaire Gautam Adani, is likely to launch a share sale this week to raise more than $600 million, two sources with direct knowledge of the matter told Reuters on Monday. The sale of existing shares will be Adani Group's first fundraise from equity markets after a $2.5 billion share sale was scrapped in February last year after U.S.-based short seller Hindenburg Research accused the group of improper use of offshore tax havens and stock manipulation.

Ola Electric's IPO is set to draw investor bids from Fidelity, Nomura and Norway's Norges Bank, as well as several Indian mutual funds, two sources with direct knowledge told Reuters.

Hezbollah militia in Lebanon.

IDBI bank moves ahead, the Divestment Secretary Tuhin Kanta Pandey on Friday declared that the Indian government will allow bidders to access private data of the bank by early August. The secretary also said the Reserve Bank of India has indicated completion of its «fit and proper» vetting of potential bidders of IDBI Bank, Reuters reported.

Coinbase has added three new members to its board of directors, including an executive from ChatGPT-maker OpenAI, as the company steps up its efforts to sway U.S. crypto policy, Coinbase told Reuters on Thursday.

A Nepali passenger plane taking off from capital Kathmandu crashed and caught on fire Wednesday, killing nearly everyone on board, officials said. (Credit: Reuters)

inflation outlook.

index globally driving down Emerging market currency and likely equity outflows. The local currency ended the day at 83.7175/$1,its weakest closing level and marginally weaker than its close of 83.6875/$1 in the previous session, LSEG data showed.

borrowing later in the financial year if inflows into national small saving schemes (NSSF) are high, Economic Affairs Secretary Ajay Seth told Reuters on Wednesday.

NATO summit in Washington this month but, away from the public stage, the alliance's military planners have been focused on assessing the enormous cost of fixing Europe's creaking defences. NATO leaders agreed plans last year for the biggest overhaul in three decades of its defence capabilities, amid growing fears of Russian aggression.

Legal tech company Clio said on Tuesday it had raised US$900 million in an investment round led by venture capital firm New Enterprise Associates (NEA), in one of the largest fundraises by a Canadian startup.

fiscal deficit targets are achievable but the government's financial metrics still remain a weakness for the South Asian nation's credit profile compared to peers, an analyst at Fitch Ratings said on Tuesday. «Lowering of the deficit target to 4.9% from 5.1% of GDP is a clear signal of the government's commitment to deficit reduction,» Jeremy Zook, director — Asia sovereign ratings, told Reuters. «In our view, this seems relatively achievable.» During Tuesday's annual budget, India's government announced plans to spend $24 billion to create jobs over the next five years and $32 billion on rural development this year alone.

Kamala Harris's campaign aims to wrap up her presidential nomination by Wednesday night by securing a majority of the nearly 4,000 Democratic convention delegates needed to win, four sources with direct knowledge of the matter said.

Wall Street's three benchmarks ended higher on Monday as investors returned to megacap growth stocks, helping both the S&P 500 and Nasdaq Composite recover from their worst weekly performance since April. The Dow Jones Industrial Average was also back in positive territory, breaking a two-session skid since hitting an all-time closing high last Wednesday.

Oil prices slipped for a third trading session on Tuesday as investors focused on the prospect of swelling oil supplies and weak demand, while showing little reaction to U.S. presidential campaign upheaval. Brent crude futures for September fell 9 cents to $82.31 a barrel by 0005 GMT. U.S. West Texas Intermediate crude for September declined 10 cents to $78.30 per barrel.

Thirty-six congressional Democrats have publicly called on Democratic President Joe Biden to end his re-election bid after the 81-year-old incumbent's halting debate performance against Republican rival Donald Trump, as per a Reuters report. They represent more than one in eight Democrats in Congress, where Biden's party controls 213 seats in the House of Representatives and 51 in the Senate.

Joe Biden has announced his decision to withdraw from the 2024 US Presidential race, citing the best interests of his party and the nation. This move follows mounting pressure from within his own party, particularly after a challenging debate performance against former President Donald Trump in June.

Things seem to be falling comfortably into place for Indian Prime Minister Narendra Modi. Yes, he lost seats in India’s recent general election—but he was, nevertheless, re-elected for a third term. Yes, he is dependent upon allied parties for the first time in his political career.