Iran's president has begun a rare visit to Africa as the country, which is under heavy U.S. economic sanctions, seeks to deepen partnerships around the world.

President Ebrahim Raisi's visit to Kenya on Wednesday is the first to the African continent by an Iranian leader in more than a decade. He is also expected to visit Uganda and Zimbabwe and meet with the presidents there.

Saudi Arabia has deposited $2 billion into Pakistan's central bank, the government said Tuesday, a much-needed financial boost ahead of a critical meeting of the International Monetary Fund on the new bailout package for the cash-strapped South Asian country.

In a video statement, Pakistani Finance Minister Ishaq Dar said the kingdom was making good on its promise to bolster Pakistan's foreign exchange reserves. The infusion is not a loan as such but will shore up the reserves and remain with Pakistan's central bank for at least a year.

Wages in the U.K. are rising at a record high rate amid stubbornly high inflation, official figures showed Tuesday, bolstering expectations that interest rates will increase again — to the worry of homeowners who are seeing their mortgage payments spike to levels not seen since the global financial crisis 15 years ago.

The Office for National Statistics said wages, excluding bonuses, rose by 7.3% in the three months to May, matching the highest rate since records began in 2001. The private sector was the main driver behind the increase.

Stocks are edging higher in early trading as Wall Street waits for updates later in the week on inflation and corporate profits. The S&P 500 was up 0.2% early Tuesday and looks to be on track for another quiet day after a listless Monday. The Dow was up 164 points, or 0.5%, and the Nasdaq composite was up less than 0.1%. The week's main event arrives Wednesday when the government offers the latest update on inflation in consumer prices. The hope on Wall Street is that a continued easing in inflation will convince the Federal Reserve to stop raising interest rates.

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Bank of America must pay more than $100 million to customers for double-dipping on some fees, withholding reward bonuses and opening accounts without customer consent.

The Office of the Comptroller of the Currency also found that the bank's double-dipping on fees was illegal.

Iraq on Monday signed agreements with TotalEnergies for a $10 billion set of projects that aim to improve the country's electricity supply through capturing flared gas and harnessing solar energy.

The deal, originally unveiled in 2021 but delayed by disagreements over the terms, was signed by TotalEnergies CEO Patrick Pouyanne and Iraq's Oil Minister Hayan Abdel Ghani at a ceremony held at Iraq's Ministry of Oil headquarters in Baghdad after lengthy negotiations.

U.S. Treasury Secretary Janet Yellen said Sunday that her talks with top Chinese officials have helped put ties on "surer footing", as she wrapped up a trip aimed at stabilising fraught relations between the two biggest economies.

Samsung Electronics said Friday it expects second-quarter operating profits to fall more than 95 percent on-year to their lowest level in 14 years, as a global glut of semiconductors continues to hurt its core memory sector.

The firm is the flagship subsidiary of South Korean giant Samsung Group, by far the largest of the family-controlled conglomerates that dominate business in Asia's fourth-largest economy.

U.S. President Joe Biden on Friday rolled out a new set of initiatives to reduce health care costs: a crackdown on scam insurance plans, new guidance to prevent surprise medical bills and an effort to reduce medical debt tied to credit cards.

Biden's remarks will build on previous initiatives to limit health care costs, with the Department of Health and Human Services releasing new estimates showing 18.7 million older adults and other Medicare beneficiaries will save an estimated $400 per year in prescription drug costs in 2025 because of the president placing a cap on out-of-pocket spending as part of last year's Inflation Reduction Act.

Twitter has threatened legal action against Meta over its new text-based app called Threads, which has drawn tens of millions of users since launching this week as a rival to Elon Musk's social media platform.

In a letter Wednesday to Meta CEO Mark Zuckerberg, Alex Spiro, an attorney representing Twitter, accused Meta of unlawfully using Twitter's trade secrets and other intellectual property by hiring former Twitter employees to create a "copycat" app.