IBT Staff Reporter

Sales at Zara owner Inditex surged above pre-pandemic levels at the start of its financial year, though the world's No.1 fast fashion retailer by sales faces a fresh challenge in the months ahead after it stopped trading in Russia.

Hardline Hindu groups are demanding restrictions on wearing the hijab in classrooms in more Indian states after a court upheld a ban on the traditional Islamic head-scarf in Karnataka state, worrying Muslim students who had protested against the ban.

Taiwan's Foxconn, the world's largest contract electronics maker that counts Apple as a major client, reported a 6% fall in revenue, its first in five quarters, hurt by a drop in sales of consumer products including smartphones.

Apple supplier Foxconn forecast an up to 3% fall in revenue for the year in what could be its first annual sales decline in six years, as a shortage of chips squeezes smartphone production and demand cools following a surge during the pandemic.

Apple supplier Foxconn forecast an up to 3% fall in revenue for the year in what could be its first annual sales decline in six years, as a shortage of chips squeezes smartphone production and demand cools following a surge during the pandemic.

China is allowing Apple Inc supplier Foxconn's Shenzhen operations and construction sites in Shanghai to resume work on condition that their employees live and work in a bubble arrangement against COVID-19, offering some respite for firms.

Days before Thanksgiving, Kris Sidial, a co-founder at volatility arbitrage fund The Ambrus Group, told investors the firm was betting that extreme price moves in some volatility-tracking exchange traded notes were likely to get worse.

The Federal Reserve on Wednesday raised interest rates by a quarter of a percentage point and laid out an aggressive plan to push borrowing costs to restrictive levels by next year as concerns about high inflation and the war in Ukraine overtook the risks of the coronavirus pandemic.

The Federal Reserve on Wednesday raised interest rates by a quarter of a percentage point and laid out an aggressive plan to push borrowing costs to restrictive levels by next year as concerns about high inflation and the war in Ukraine overtook the risks of the coronavirus pandemic.

The Federal Reserve on Wednesday raised interest rates for the first time since 2018 and laid out an aggressive plan to push borrowing costs to restrictive levels next year in a pivot from battling the coronavirus pandemic to countering the economic risks posed by excessive inflation and the war in Ukraine.

A surge in wheat and corn prices is boosting demand for low-grade rice in animal rations across Asia, pushing up prices of the world's most important staple at a time when global food inflation is already hovering near record highs.

More than 3 million people have fled Ukraine to neighboring countries since Russia invaded on Feb.

U.S. President Joe Biden said last month that the United States would accept up to 100,000 Ukrainians fleeing Russia's invasion, but lawmakers and advocates have urged the Democratic president to speed up refugee and visa processing.

Taiwan held live fire drills in its northernmost territory on Wednesday, putting the spotlight on a remote island that is strategically located at a chokepoint near China - and potentially vulnerable to attack.

Costa Rica said on Tuesday the United States had agreed to work together on strengthening immigration and border policing in the Central American country, during a visit by U.S.

A global energy crunch is sending liquefied natural gas prices skywards, but Thailand needs to ramp up its purchases to offset a steep production fall at its largest gas field and as sanctions threaten supplies from Myanmar.

Australia announced almost A$500 million ($360 million) in funding to boost output of critical minerals, aiming to diversify supply for its allies and counter China's dominance of the global market.

Landslide in Peruvian Andes buries dozens of homes

The dollar traded near a five-year high against the yen on Wednesday as investors awaited a Federal Reserve policy decision, with the Ukraine war and China's surging COVID-19 cases as the backdrop.

The Australian dollar jumped on Wednesday after comments from a senior Chinese official boosted hopes for more stimulus, while the U.S.

The euro jumped on Wednesday and was set for its third consecutive daily gains versus the dollar on Wednesday after Russian Foreign Minister Sergei Lavrov said peace talks with Ukraine were not easy but there was hope for compromise.

The euro jumped on Wednesday, set for its third consecutive day of gains, after Russian Foreign Minister Sergei Lavrov said peace talks with Ukraine were not easy but there was hope for compromise.

The euro jumped on Wednesday amid signs of compromise by Russia and Ukraine in "more realistic" peace talks, while the dollar slid further from almost two-year highs reached over the past week as markets await a likely rate hike by the Federal Reserve.

The dollar index turned up for the day on Wednesday shortly after the U.S.

The dollar fell on Wednesday after the U.S. Federal Reserve moved to a hawkish monetary policy but without delivering a tougher surprise that might have added to its weeks-long momentum.

Hamas faces risk, opportunity from warming Israel-Turkey ties

World stocks recovered ground on Wednesday as markets watched for signs of light in the Ukraine conflict, while Treasury yields hit their highest since mid-2019 in anticipation of the first U.S.

Prospects of peace talks between Russia and Ukraine, Chinese stimulus and an imminent U.S. interest rate rise lifted stocks and U.S. Treasury yields on Wednesday.

Global equity markets and U.S. Treasury yields rose on Wednesday as investors expected the Federal Reserve to raise U.S.