Saudi Arabia on Wednesday confirmed that it will maintain a production cut of 1 million barrels of oil a day through the end of the year.

The announcement could further prop up oil prices, which are hovering around $90 a barrel. Production cuts first announced by Saudi Arabia and Russia in July have driven up prices at the pump, enriched Moscow's war chest and complicated global efforts to bring down inflation.

The Central Bank has issued a circular preventing banks from deducting new fees from bank accounts created prior to October 2019.

The Bank also asked commercial banks to disclose accurate information about the “real cost” and mechanism of any fees imposed on clients, warning that the Central Bank’s Banking Control Commission will oversee the implementation of the circular and will penalize any violating banks.

Asian markets declined Tuesday following a mixed session on Wall Street, where buying was pressured by rising bond yields.

U.S. futures fell and oil prices also were lower.

South Asia is expected to grow by 5.8% this year, making it the fastest-growing region in the world even as the pace remains below pre-pandemic levels, the World Bank said on Tuesday.

The latest South Asia Development Update from the World Bank projected growth in the region to slow slightly to 5.6% in 2024 and 2025, as post-pandemic rebounds fade and reduced global demand weighs on economic activity.

Ukraine, Poland and Lithuania have agreed on a plan they hope will help expedite Ukrainian grain exports, officials said Tuesday, with needy countries beyond Europe potentially benefitting from speedier procedures.

The deal means that grain inspections will shift from the Ukraine-Poland border to a Lithuanian port on the Baltic Sea, according to a statement from the Ukrainian farm ministry.

Saudi Arabia has revised down its budget projections and now expects to record a deficit this year, the finance ministry said, reflecting rising expenditures and falling oil revenue.

Business sentiment among big Japanese manufacturers improved in July-September for the second straight quarter, according to a central bank survey released Monday.

The Bank of Japan's "tankan" quarterly survey measured business sentiment among major manufacturers at plus 9, up from plus 5 in June.

Britain's Treasury chief is to announce a hike in the national minimum wage on Monday, as the governing Conservative Party tries to persuade voters it is on the side of those who are struggling financially.

Chancellor of the Exchequer Jeremy Hunt has ruled out tax cuts, saying they would fuel inflation.

Shares were mostly lower in Europe and Asia on Monday even after the U.S. Congress averted a U.S. government shutdown with a last-minute compromise.

Markets in China are closed for a weeklong holiday. Markets in India and South Korea also were closed.

The Finance and Budget Parliamentary Committee convened Monday to discuss the legality of the government's spendings from the $1.139 billion in Special Drawing Rights (SDRs) disbursed by the International Monetary Fund.

The committee's head, MP Ibrahim Kanaan, said after the meeting that the committee has decided to refer the SDR file to the Audit Bureau, accusing the government of spending illegally from the SDR without the parliament's approval and supervision.