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NEW DELHI — India and Bahrain announced the signing of a Tax Information Exchange Agreement to promote economic and joint investment between the two countries. According to the International Monetary Fund, total trade between the two countries currently amounts to $1.7bn a year, with this agreement aimed at boosting that number.

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LONDON - Gold slipped on Friday, extending losses after posting the biggest May drop in 30 years last month, as investors sold assets seen as higher risk like stocks and commodities on mounting concerns over the financial health of Greece and Spain.

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MUMBAI — India’s top auto makers Friday reported lacklustre sales in May as high taxes and rising fuel prices produced more downbeat data on the national economy.

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Concerns over a slowdown in the world’s biggest economies hit world markets on Friday, with weak indicators out of China and Europe’s financial turmoil unsettling investors ahead of a crucial US jobs report.

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European shares fell to a fresh 5-month low on Friday after a slew of data which showed that the euro zone debt crisis was hurting the region’s biggest economies.

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Factory activity weakened across Asia in May, indices showed Friday, with China’s manufacturing sector slowing sharply as fears grow for the global economy.

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The pace of US auto sales will hover around 14.5 million vehicles in May, spurred by sales of cars and crossovers as the Japanese automakers bounce back from last year’s earthquake-related vehicle shortages, analysts said.

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BAGHDAD - Iraq awarded only one out of six new oil and gas blocks to foreign companies on Wednesday after tough contract terms dampened interest during a 4th energy bidding round the Opec-member hoped would further expand its energy sector.

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The head of the World Trade Organization on Thursday warned that creeping accumulation of protectionist policies across the world’s 20 major economies had hit 4 percent of the group’s trade.

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