IBT Staff Reporter

Italy might need early elections to overcome a political impasse, government officials said on Friday, after Prime Minister Mario Draghi tendered his resignation in the wake of a mutiny by a coalition partner.

Indonesian Finance Minister Sri Mulyani Indrawati on Friday called for a joint forum involving G20 finance and agriculture ministries to come up with concrete action to tackle growing food insecurity and a looming fertilizer supply crisis.

The World Bank is seeking to block release of a report prepared for the Group of 20 major economies that calls for lowering the bank's capital requirements to boost its lending capacity, four sources familiar with the matter said.

British foreign minister Liz Truss clashed over tax policy with former finance minister Rishi Sunak on Friday, as the five remaining contenders to be Britain's next prime minister went head-to-head in the first of three televised debates.

UK owes apology for 'grave wrong' of forced adoptions: inquiry

Crisis hit airline SAS said on Friday negotiations with pilots to secure new working terms and make savings that will allow it to secure its future will start again on Saturday.

Talks between airline SAS and pilot unions resumed on Friday as the parties seek to agree on a complicated deal to end a strike that the carrier says is threatening its future.

Hundreds more people were evacuated from their homes as wildfires blistered land in France, Spain and Portugal on Friday, while officials in Europe issued health warnings for the heatwave in the coming days.

Hundreds more people were evacuated from their homes as wildfires blistered land in France, Spain and Portugal on Friday, and officials in Europe issued health warnings for the heatwave in coming days.

By Saikat ChatterjeeA look at the day ahead in markets from Saikat Chatterjee.

Investors betting that Japan will have to quit its ultra-loose monetary policy are running into riskier and pricier territory as the showdown shifts to the Bank of Japan's home turf in the bond market.

Investors betting that Japan will have to quit its ultra-loose monetary policy are running into riskier and pricier territory as the showdown shifts to the Bank of Japan's home turf in the bond market.

Aston Martin's shares jumped 20% on Friday after the British luxury carmaker announced an capital raising that will see Saudi Arabia's Public Investment Fund (PIF) become its second-largest shareholder with an almost 17% stake.

Do signs point to an Israel-Saudi normalisation deal?

The European Commission decided on Friday to sue Hungary over an anti-LGBT law and its refusal to renew the license of Klubradio, a broadcaster critical of the government, in the latest clash over values that risks damaging the European Union's cohesion.

A more insular world economy will come at a high price if the era of global currency reserve building follows globalisation into reverse.

A more insular world economy will come at a high price if the era of global currency reserve building follows globalisation into reverse.

Things are looking up for GSK and its chief Emma Walmsley as the British drugs giant prepares to spin off its consumer health business on Monday in London's biggest listing in a decade and the company's most radical shake-up in 20 years.

Sri Lanka's parliament accepted the resignation of President Gotabaya Rajapaksa on Friday after he fled the country, paving the way for lawmakers to start repairing the island's shattered politics and resume efforts to ease its economic crisis.

Sri Lanka's parliament accepted the resignation of President Gotabaya Rajapaksa on Friday after he fled the country, paving the way for lawmakers to start repairing the island's shattered politics and resume efforts to ease its economic crisis.

The speaker of Sri Lanka's parliament formally accepted President Gotabaya Rajapaksa's resignation on Friday after he fled to Singapore to escape a popular uprising brought about by his country's worst economic crisis in seven decades.

The speaker of Sri Lanka's parliament formally accepted President Gotabaya Rajapaksa's resignation on Friday after he fled to Singapore to escape a popular uprising brought about by his country's worst economic crisis in seven decades.

Sri Lanka's parliamentary speaker accepted President Gotabaya Rajapaksa's resignation on Friday after he fled to Singapore to escape a popular uprising brought about by his country's worst economic crisis in seven decades.

Sri Lankan president's resignation accepted

Rising recessionary concerns are seeing some investors reduce risk in their credit exposure as they brace for an economic slowdown whose magnitude remains highly uncertain.

The Indian rupee hit a record low on Friday and weakened for a 11th straight week as foreign investors continued to dump riskier assets amid rising concerns around a global recession with investors now awaiting the Fed meeting outcome on July 27.

Emergency curfews, tear gas plumes and the sudden departure and resignation of the president have all failed to budge the long vehicle queues snaking out of Colombo's empty petrol stations.

Chinese regulators' assurances of help in delivering property projects on time failed to convince some homebuyers threatening to stop mortgage payments and investors continued to sell shares in embattled developers on Friday.

Shares in embattled Chinese property developers fell on Friday as homebuyers' threats to stop mortgage payments on unfinished apartments outweighed Beijing regulators' assurance that local governments will get help to deliver property projects on time.