* The global economy is on track to grow by 2.9 percent in 2022, down 1.2 percentage points from the January projection, the World Bank Group said in its latest Global Economic Prospects released on Tuesday, warning of stagflation risk.
* China's exports are expected to have expanded at a faster pace in May as factories reopened and supply chain disruptions calmed after Shanghai began to emerge from a lockdown, while imports also likely rose, a Reuters poll showed.
* US President Joe Biden will travel to Schloss Elmau in Germany on June 25 to attend the G7 summit, White House spokesperson Karine Jean-Pierre said in a statement on Wednesday.
* Turkey's foreign minister said on Wednesday a United Nations plan to ease a global food crisis by restarting Ukrainian grain exports along a sea corridor was "reasonable", and requires more talks with Moscow and Kyiv to ensure ships' safety.
* Japan's economy shrank slightly less than initially reported in the first quarter, as private consumption remained resilient in the face of resurgent COVID-19 infections and companies rebuilt their stock, offsetting a drop in business spending.
* The World Bank Tuesday cut India's economic growth forecast for the current fiscal to 7.5 percent as rising inflation, supply chain disruptions and geopolitical tensions taper recovery.
* Italy's economic prospects for this year appear to have improved slightly according to the latest estimates from the National Institute of Statistics (ISTAT) issued on Tuesday, though "high downside risks" remain for the coming months. The country's economy is expected to grow by 2.8 percent this year.
* Following the Reserve Bank of Australia (RBA) raising interest rates for the second month in a row, the country's retail banks have lifted their lending rates, pushing the increase onto consumers.
* Sri Lankan Prime Minister Ranil Wickremesinghe discussed with Managing Director of the International Monetary Fund Kristalina Georgieva over the country's economic crisis, the prime minister's office said in a statement Wednesday.
* The Republic of Korea's real gross domestic product (GDP), adjusted for inflation, was revised down for the first quarter, central bank data showed Wednesday.
* Hungary's consumer price index (CPI) increased by 10.7 percent in May on a yearly basis, the highest in 23 years, the country's Central Statistical Office (KSH) said on Wednesday.
* Ukraine saw a successful grain sowing campaign despite the challenges caused by the conflict with Russia, Prime Minister Denys Shmyhal said on Wednesday.
* The Finnish Ministry of Defence on Tuesday announced the signing of a Memorandum of Host Nation Support between Finland and Sweden.
* Trade delegations from Turkey and Finland met on Tuesday in Istanbul to promote bilateral trade cooperation amid the strained ties due to Finland's NATO membership bid.
* The Democratic People’s Republic of Korea on Wednesday reported more than 54,610 new people showing fever symptoms amid the reclusive nation's first-ever COVID-19 outbreak, state media KCNA said.
* Poland hopes to get up to about $2.81 billion in COVID-19 recovery funds from the European Union this year, the finance minister told news agency ISBnews, after Brussels cleared the way for Warsaw to receive the money.
* Tourism is rebounding more quickly in Portugal than in some parts of Europe, but the number of foreign visitors this year is still expected to lag the 2019 pre-pandemic record, the country's hotel association AHP said.
* New Zealand medical experts enhanced COVID-19 surveillance at international borders as it prepares for further waves of Omicron subvariants that are currently prevalent around the world.
* The Australian immigration minister has ordered the Department of Home Affairs to fast-track visa applications to address a shortage in skilled workers.
* Tunisia and Britain signed a memorandum of understanding (MoU) on British technical and financial support for the development of renewable energies in Tunisia, the Tunisian press agency Tunis Afrique Presse reported on Tuesday.
* The United Arab Emirates central bank said on Wednesday it expects real GDP growth to reach 4.2% next year, up from its earlier forecast of 3.3%, state news agency (WAM) reported. The central bank had projected real GDP growth to reach 5.4% in 2022.
* Ghana's inflation GHCPIY=ECI accelerated to 27.6% year on year in May from 23.6% in April, statistics agency data showed on Wednesday, hitting a new 18-year peak and marking a full year of quickening price growth in the West African nation.
* The Moroccan navy rescued 385 migrants heading for Spain last week, official news agency MAP reported on Wednesday. The migrants, including women and minors, are mostly from Sub-Saharan Africa, the agency quoted a military statement as saying.
* At least 22 people were killed, including nine members of one family when a passenger van fell into deep ravine in southwest Pakistan, officials said on Wednesday.
* Advisers to the US Food and Drug Administration voted overwhelmingly to recommend that the agency authorize Novavax Inc's COVID-19 vaccine for use in adults.
* Pfizer Inc said it would spend $120 million to expand manufacturing of its COVID-19 antiviral treatment Paxlovid at its Michigan plant, as demand ramps up.
