Bloomberg US index futures and European equities fell as concern over the possibility of a recession outweighed optimism over US-China talks aimed at tariff reductions. The euro falls to a 20-year low. Contracts on the S&P 500 and Nasdaq 100 indexes dropped at least 0.6% each as US markets were set to return after Independence Day holiday. In Europe, ...

  Bloomberg Warnings from Indian crypto exchanges that a controversial new transaction tax would erode trading are coming true, with volumes evaporating since the levy took effect. Three exchanges — ZebPay, WazirX and CoinDCX — suffered declines of between 60% and 87% in the value of daily trading immediately after the 1% tax deductible at source became effective on July ...

  BEIJING / WAM China’s digital economy logged rapid expansion in recent years, with its scale increasing from 11 trillion yuan ($1.65 trillion) in 2012 to over 45 trillion yuan in 2021, official data showed. According to the state news agency (Xinhua), the proportion of the digital economy in China’s GDP rises from 21.6 percent to 39.8 percent in the ...

Bloomberg For all it’s been a tough year for equities, food delivery stocks have had it much worse. Just Eat Takeaway.com NV and Delivery Hero SE are among the 10 biggest losers in the Stoxx 600 Index in 2022, both down more than 60%, and when Deliveroo plc is added, the combined market value losses stand at $30 billion. The ...

  Dubai / Gulf Time dnata Representation Services, part of the dnata Travel Group, is growing its partnership with the Banyan Tree Group across Thailand as the country emerges as one of the most popular international travel destinations from the GCC countries this year. dnata Representation Services has acted as exclusive sales representative in the Middle East for the Banyan ...

  Bloomberg Russia’s seaborne crude exports in the seven days to July 1 rebounded from the previous week’s plunge, but shipments to Asia are slipping, even as flows are diverted to the country’s Black Sea terminal to cut the voyage distance to India. Aggregate crude flows from Russian ports were up week-on-week by 23%, recovering most of the volume lost ...

  Bloomberg Natural gas in Europe rises to the highest level in almost four months as planned strikes in Norway threaten to further tighten a market that’s already reeling from Russia’s supply cuts. Benchmark futures, which have more than doubled this year, surged as much as 10% on Monday. About 13% of Norway’s daily gas exports are at risk amid ...

  Bloomberg Some of Asia’s biggest stock and bond markets outside China are seeing greater outflows than in previous market crises, and the process may just be getting underway. Global funds offloaded a net $40 billion of equities across seven regional markets last quarter, exceeding any three-month period characterised by systemic stresses since 2007. The steepest selling was in tech-heavy ...

  Bloomberg Emerging markets are well positioned to stare down a US recession and may even be able to lure investors their way. That’s the message from money managers including JPMorgan Chase & Co. and Deutsche Bank AG even as fears of a contraction in the world’s largest economy spark a dash into Treasuries and other haven assets. Beyond the ...

Bloomberg India’s windfall tax on domestic crude oil production and fuel exports may help the government bring in 1 trillion rupees ($12.7 billion) in revenues, Press Trust of India (PTI) reported. The federal government’s latest levies could help it recoup most of the revenues lost from fuel excise duty cuts announced in May this year, according to the news agency, citing ...