Traders in the Iranian capital's Grand Bazaar held a rare protest strike Monday against the collapse of the rial on the foreign exchange market as demonstrators also took to the streets.

Turkey's embattled lira, which had lost some 20 percent in value against the dollar this year, on Monday surged some three percent in value against the greenback following President Recep Tayyip Erdogan's decisive election victory.

The European Union and China pledged on Monday to uphold a rules-based international trade system, making an oblique criticism of growing protectionism in Washington despite their own disagreements.

Asian markets fell Monday as fears of a global trade war continue to dog investors, with Donald Trump threatening fresh tariffs on European cars and reports he is considering curbs on Chinese investment the US.

Russia has joined an OPEC-led pledge to boost oil production in response to growing global demand, capping a week of tense diplomacy for the grouping that averted a damaging rift between arch foes Iran and Saudi Arabia.

Speaking after a meeting in Vienna, Russian Energy Minister Alexander Novak said the agreement would give the OPEC and non-OPEC countries cooperating in a landmark supply-cut pact the necessary "flexibility" to prevent the market overheating.

Outcry over revelations of confused migrant toddlers being stripped from their parents on the U.S.-Mexico border has shone a spotlight on one sector of the immigration debate that usually manages to stay obscure: government contractors.

Furniture giant Ikea is set to open its first store and restaurant in India after years of trying but arguably its most famous item is off the menu -- Swedish meatballs.

A year of "vintage" economic growth could be undone by rising protectionism, the Bank of International Settlements (BIS) said Sunday, as fears of an all-out global trade war ramp up.

Argentina on Friday received $15 billion, the first tranche of a $50 billion loan from the International Monetary Fund to help stabilize its fragile economy, the South American nation's central bank said.

An industrial powerhouse built on massive exports and a gigantic car industry, Germany is among the nations most sensitive to mounting trade tensions between the United States and other major economies.