IBT Staff Reporter

Banks should beware of fake news that could trigger a run on their deposits, the European Union's banking watchdog said in a warning on Friday about potential fallout from the war in Ukraine.

Russian Foreign Minister Sergei Lavrov began meetings with India's leaders in New Delhi on Friday after seeing his Chinese counterpart earlier in the week, as Moscow tries to keep the Asian powers on its side amid Western sanctions.

Russia will increase its use of non-Western currencies for trade with countries such as India, its foreign minister said on Friday, as he hailed New Delhi as a friend that was not taking a "one-sided view" on the Ukraine war.

Chinese exports to Russia have been buffeted as the rouble swings in value, clear evidence of a ripple effect that Western sanctions over Russia's invasion of Ukraine are having in China, even as it sticks by its neighbour diplomatically.

European shares rose slightly after early sluggishness on Friday, as a rally in bank stocks helped outweigh worries about economic growth and inflation, with Europe facing a deadline to start paying for Russian gas in roubles.

European shares rose on Friday as a rally in commodity-linked and bank stocks helped outweigh worries about economic growth and inflation, with Europe remaining on alert for a disruption to gas imports from Russia.

French catering and food services group Sodexo on Friday lowered expectations for full-year organic revenue growth, citing the coronavirus pandemic, the Ukraine conflict and closure of COVID-19 testing centres in the United Kingdom.

French catering and food services company Sodexo lowered its annual revenue growth outlook on Friday citing the pandemic, the Ukraine conflict and the closure of COVID-19 testing centres it ran in the United Kingdom.

Hundreds of climate change protesters blocked oil terminals across Britain on Friday with some supporters climbing on top of oil tankers as part of their campaign to force the government to end its reliance on fossil fuels.

Hundreds of climate change protesters blocked oil terminals across Britain on Friday with some supporters climbing on top of oil tankers as part of their campaign to force the government to end its reliance on fossil fuels.

Millions more Sudanese are set to go hungry this year as economic turmoil and erratic rains drive up prices and reduce harvests, with a halt to foreign assistance and the war in Ukraine putting food supplies at further risk.

Polish pushbacks to Belarus go on as Ukrainians welcomed

An aide to the mayor of Mariupol said on Friday the besieged southern Ukrainian city remained closed for anyone trying to enter and was "very dangerous" for anyone trying to leave.

Hungary's Orban faces first united opposition in tight vote

Sanofi plans to list its drug ingredients subsidiary EUROAPI on May 6, saying the business is set to grow and improve its profitability as a separate business.

Plague, war and inflation define the year so far - but faith in the U.S. dollar seems to have made it through the first three months.

China's COVID-19 curbs are disrupting the supply of fertiliser to the country's northeastern bread basket just a month away from spring planting, threatening this year's corn and soybean crops if not resolved soon.

Disaster tourism: blackouts, shortages hit Sri Lanka recovery hopes

Police in Sri Lanka's capital lifted a curfew on Friday after protests in which dozens of people were arrested and injured near the home of President Gotabaya Rajapaksa over his handling of an economic crisis.

Australia's central bank will end its longest easing cycle on record by the end of the third quarter, according to a Reuters poll in which a growing minority of economists expected a rate hike just weeks after a federal election in May.

The Hong Kong stock exchange suspended from trade on Friday the shares of Chinese developers such as Sunac China, Shimao Group and Kaisa Group, and about 30 other firms for a delay in declaring annual results.

Traders are pointing to a massive quarterly options trade on Thursday they said was from a JPMorgan fund as one reason why the stock market took a nosedive late in the day, as options flows linked to the trade exacerbated market weakness.

Asia deal volume tumbled in the first quarter and dealmakers do not expect a near-term rebound as the Russia-Ukraine war, higher interest rates and economic uncertainty hurt business sentiment.

Amid a regional backlash, the Solomon Islands said it would not allow a Chinese military base in the Pacific islands nation despite its plans to sign a security pact with Beijing.

Amid a regional backlash, the Solomon Islands said it would not allow a Chinese military base in the Pacific islands nation despite its plans to sign a security pact with Beijing.

Street protests grip Sri Lanka as economic crisis escalates

EU warns China against backing Russia's Ukraine war

Asian shares fell for a second straight session on Friday as worries about the Russia-Ukraine war and risks of recession punctured their rally, while plans to release oil reserves had crude prices heading for a sharp weekly drop.

World stocks dipped further from recent six-week highs on Friday on worries about the Russia-Ukraine war and recession risks, and oil fell $2 a barrel on reserve releases.