CNBC World News

"Central banks are stepping up to control inflation, it's a priority," Kristalina Georgieva said.

Saudi Arabia's former intelligence chief has branded U.S. President Joe Biden a "much diminished president" as the president arrives in Jeddah to discuss oil production, defense and human rights.

The U.K.'s record high temperature stands at 38.7 degrees Celsius.

German energy giant Uniper said it is having to draw down gas supplies from storage facilities, further reducing supplies needed for winter.

The latest hiring push will bring the company's permanent workforce in Britain to over 75,000.

In the second quarter, mainland China faced its worst Covid outbreak since the height of the pandemic in early 2020.

Demand is outpacing supply, which has been disrupted, and a price ceiling will not resolve that, Indonesian Finance Minister Sri Mulyani Indrawati said.

Shein, the Chinese fast-fashion giant, has faced criticism over how workers are treated at plants that manufacture apparel for the company.

China's economy is set for a weak recovery and a recession cannot be ruled out, warned economist Stephen Roach.

Hong Kong's Hang Seng fell around 2% as tech stocks dropped, and Asia markets were mixed as China's GDP missed expectations.

European stocks were higher on Friday morning after a fresh wave of global interest rate hikes exacerbated fears about the outlook for economic growth.

Speaking to CNBC's "Squawk Box Asia" on Friday, OECD's secretary-general said that Russia's war on Ukraine has imposed "a heavy burden on the world."

Chairman and CEO Jamie Dimon warned geopolitical tension, high inflation and waning consumer confidence could hurt the economy "sometime down the road."

China remains the largest single-country market in the world with $403.1 million in e-sports revenue in 2021, Niko Partners said in a report published Thursday.

China will be the most badly hit in the event of stagflation, according to a stress test of 20,000 companies by the credit rating agency.

Industry players said a better macroeconomic picture, certain trading patterns and further deleveraging could help bitcoin and the crypto market find a bottom.

China's housing demand by floorspace is to drop by 2.5% a year over the next 15 years, sales and rental giant Beike predicts.

Demand for copper is set to soar as renewable energy such as wind and solar become more popular. But there's one problem: We don't have enough.

Lawmakers hope to send chip-funding legislation to President Joe Biden before Congress goes on its annual recess next month.

Pinterest shares jumped in extended trading on Thursday after a report said Elliott Management has accumulated a stake of more than 9% in the company.