Move comes at time when New Delhi wants to narrow its growing trade deficit with Russia and as Moscow faces acute shortages of some crucial materials following Western sanctions

The Caixin/S&P Global services purchasing managers' index (PMI) fell to 46.7 from 48.4, marking the third monthly contraction

Some communities now require less frequent testing and are allowing close contacts of infected people to quarantine at home. New measures are expected to be announced within days.

Hong Kong residents can now receive the German-made bivalent shots to protect them against the original coronavirus plus the latest Omicron subvariants BA.4 and BA.5

HDFC raised $1.85 billion from the largest-ever bond issuance by an Indian bank on Thursday amid strong demand from long-term investors, and the State Bank plans a $1.2bn issuance on Friday

Zijin has spent $16 billion buying three lithium mines over the past year, but its president says the group aims to become one of the top three to five mining companies in the world by 2030

Federal Reserve chairman's remarks – that the US Fed could reduce the pace of its rate hikes this month – sends Wall Street equities soaring and lifts Asian markets in early trading

Officials in some cities are lifting lockdowns and allowing businesses to reopen, despite daily case tolls near high levels. Authorities are also allowing people in some areas to quarantine at home.

China, which is reeling from punishing US tech sanctions, is exploring using graphene instead of silicon in microchips as it desperately attempts to match its global rivals

The ruling People Power Party told the union representing the 25,000 striking drivers that they must return to work before lawmakers consider a bill on demands, the union said

Analysts blamed Covid curbs for the latest data for November, saying Covid restrictions have been imposed in areas responsible for 25% of GDP, and with rising cases the economy may struggle until well into 2023

Production shortfalls and labour unrest at the giant iPhone factory, run by Foxconn in Zhengzhou, are increasing risks and likely to intensify Apple's retreat from China, analysts say