ECONOMY & MARKETS

China's state-run Sinopec Group has suspended talks for a major petrochemical investment and a gas marketing venture in Russia, sources told Reuters, heeding a government call for caution as sanctions mount over the invasion of Ukraine.

European shares ended a choppy session slightly higher on Friday but were down on the week as investors worried about the fallout from the Russia-Ukraine conflict, while a rally in the commodities sector kept a lid on declines.

Gold was on course to gain for the week as concerns over the war in Ukraine and rising prices boosted its appeal as a safe-haven and an inflation hedge, but prices eased on Friday as U.S.

Gold prices were little changed on Friday, as firmer U.S. Treasury yields offset non-yielding bullion's demand, but the metal was cautiously on course for its best week in three.

Gold was on course to gain for the week as concerns over the war in Ukraine and rising prices boosted its appeal as a safe-haven and an inflation hedge, but prices eased on Friday as U.S.

The hit to Europe from an economic war with Russia over its invasion of Ukraine pales against the blow to Moscow - but another recession may still be the price to pay.

The board of the International Monetary Fund on Friday approved a new agreement with Argentina for $45 billion, three sources with direct knowledge said, clearing the final hurdle to rework the country's debt with the Washington-based lender.

Oil prices slipped on Friday, with some supply concerns easing on expectations that crude exports would resume from Kazakhstan's CPC terminal, while the European Union remained split on whether to impose an oil embargo on Russia.

Crude prices rose more than 1% to over $120 a barrel on Friday, as traders reconciled the impact of a missile attack on an oil distribution facility in Saudi Arabia with a possible release of oil reserves by the United States.

Canadian Prime Minister Justin Trudeau's surprise power-sharing deal with the smaller left-leaning New Democrats will lead to heftier deficits and threatens to upend the Liberal government's promise to rein in runaway inflation, economists said.

U.S. refiners have begun snapping up fuel oil cargoes from the Middle East this month after U.S.

The Federal Reserve needs to raise interest rates this year and next to bring down high inflation before it gets embedded in American psychology and becomes even harder to get rid of, Chicago Fed President Charles Evans said on Thursday.

The Federal Reserve needs to raise interest rates "in a timely fashion" this year and in 2023 to curb high inflation before it is embedded in U.S.

EU lawmakers on Thursday backed lower price caps on wholesale roaming fees paid by telecoms operators to peers in another EU country, extending for a decade a policy that benefits consumers.

Wall Street's main indexes rose on Thursday, as investors bought beaten-down chipmakers and megacap technology shares while grappling with the fallout of Ukraine war as the United States and Britain further tightened sanctions on Russia.

Minneapolis Federal Reserve Bank President Neel Kashkari on Thursday said he has penciled in seven quarter-point interest rate hikes this year to help rein in high inflation, but warned against going too far.

The number of Americans filing new claims for jobless benefits dropped to a 52-1/2-year low last week, while unemployment rolls continued to shrink, pointing to rapidly diminishing labor market slack that will keep boosting wage inflation.

The Bank of England said on Thursday that it might not go ahead with plans announced in December to raise banks' capital requirements in the coming quarter, given Russia's invasion of Ukraine.

The Bank of England on Thursday began sketching out Britain's first regulatory framework for cryptoassets, saying that although the sector remained small, its rapid growth could pose risks to financial stability in future if left unregulated.

New York has extended its lead among the world's top financial centres, with runner up London losing ground to increasingly competitive rivals in the United States and Asia, the Global Financial Centres Index (GFCI) showed on Thursday.

The Swiss National Bank will take "all necessary measures" to tackle higher prices in Switzerland, SNB Chairman Thomas Jordan said on Thursday, indicating a shift in tone at the central bank that for years has battled to tame the strong Swiss franc.

The Swiss National Bank has doubled its inflation forecast for this year, citing tensions including the Ukrainian war, but held fast to its expansive monetary policy on Thursday with the world's lowest interest rates.

European shares gave up early gains to trade flat on Thursday, as the war in Ukraine marked a month and Western nations planned more sanctions on Russia.

European shares fell on Thursday, as the war in Ukraine entered its second month and Western countries bolstered Ukraine aid and expanded sanctions on Russia at a special NATO summit.

Gold prices rose to a more than one-week high on Thursday as its safe-haven appeal was lifted by concerns over soaring inflation and uncertainty surrounding the war in Ukraine.

Gold rose to a more than one-week high on Thursday as concerns over soaring prices and uncertainty surrounding the war in Ukraine lifted bullion's appeal as a safe-haven and an inflation hedge.

Gold rose on Thursday as safe-haven support from the Russian invasion of Ukraine was countered by signs that U.S.

Gold prices were in a range-bound trade on Thursday, as markets exercised caution over the Russia-Ukraine conflict and ahead of U.S.

Sri Lanka will seek World Bank assistance to stave off a severe economic crisis in addition to an International Monetary Fund (IMF) rescue plan to be discussed next month, two sources said.