The Bank of England is poised to raise borrowing costs again on Thursday to combat stubbornly high inflation, which has failed to come down from its peak as quickly as expected.

Though the consensus among analysts is that the central bank will raise its main interest rate by a quarter-percentage point — hitting a new 15-year high of 4.75% — there are concerns, certainly among borrowers, that it may opt for a bigger half-point increase.

The Turkish central bank faces a key test Thursday on turning to more conventional economic policies to counter sky-high inflation after newly reelected President Recep Tayyip Erdogan gave mixed signals about an approach that many blame for worsening a cost-of-living crisis.

It is the bank's closely watched first interest rate-setting meeting since the longtime leader named internationally respected officials to head the bank and the finance ministry. While a sharp rate hike is expected, it's not clear if it will be enough to ease market concerns.

Heads of state, finance leaders and activists from around the world will converge in Paris this week to seek ways to overhaul the world's development banks — like the International Monetary Fund and World Bank — and help them weather a warmer and stormier world.

While restructuring debt and reducing poverty will be part of the summit Thursday and Friday, climate will be the main driver, with representatives from developing nations in Africa, Asia and elsewhere having a prominent seat at the table.

Foreign companies are shifting investments and their Asian headquarters out of China as confidence plunges following the expansion of an anti-spying law and other challenges, a business group said Wednesday.

The report by the European Union Chamber of Commerce in China adds is one of many signs of growing pessimism despite the ruling Communist Party's efforts to revive interest in the world's No. 2 economy following the end of anti-virus controls.

The world's poorest countries are bearing the brunt of the world's debt crisis, at a time when they need more cash than ever to fight climate change.

As top officials gather in Paris for the Summit for a New Global Financing Pact, AFP takes a look at the problem.

Chinese imports of Russian oil last month hit their highest level since Moscow's February 2022 invasion of Ukraine, customs data showed Tuesday, as Beijing offers an economic lifeline to an increasingly isolated Kremlin.

China is Russia's largest economic partner, with trade between them reaching a record $190 billion last year.

China's premier on Tuesday urged closer cooperation with Germany to shore up a struggling global economy, at a time when the European export powerhouse is seeking to reduce its reliance on the Asian giant.

Li Qiang, on his first trip abroad since he was named China's prime minister, also underlined the emphasis Beijing places on improving relations with the European Union as criticisms from the bloc grow louder.

China's Alibaba Group has announced a major management reshuffle as the e-commerce giant restructures into six different business divisions to adapt to fast-changing technologies.

The moves also are aimed at spurring growth at a time when the Chinese economy is slowing despite an end to COVID-19 pandemic restrictions a half-year ago.

Wall Street is stable Tuesday, the first trading day of the week, after a meeting between Chinese leader Xi Jinping and Secretary of State Antony Blinken yielded no signs of progress from either side on Taiwan, human rights, technology and other issues of contention.

Futures for the Dow Jones industrial and the S&P 500 fell about 0.3% before the bell Tuesday.

Visitors to Jordan this month noticed a new addition to the royal portraits over highways and hospitals. The 28-year-old Crown Prince Hussein and his glamorous Saudi bride, Rajwa Alseif, now beam down at motorists stuck in Amman traffic.

Their royal wedding represented the pinnacle of the monarchy's efforts to establish Hussein as the face of Jordan's next generation — a future king who can modernize the country, slash the red tape and set loose the talents of its bulging young population. Of nearly 10 million people in Jordan, almost two-thirds are under 30.