Business Recorder

US stocks edge lower as investors consolidate after string of records

NEW YORK: Wall Street stocks opened lower on Wednesday, with equities taking a breather after hitting one record high after another in recent weeks, and increased pessimism around the chances of peace in the US-Israel war on Iran. The Dow Jones In…

#USStocks #Economy

Business Recorder

AI music startup Suno raises funding at $5.4 billion valuation

Suno said on Wednesday it has raised more than $400 million in a funding round at a $5.4 billion valuation, as the AI music startup looks to enhance its platform by creating new tools. The Massachusetts-based startup, which allows users to generat…

#AI

Business Recorder

IMF says Saudi economy holding up during Iran war but growth could slow to 2% in 2026

ABU DHABI: Saudi Arabia’s economy has proved resilient during the Middle East war, but the conflict has weighed on non-oil activity and confidence, leaving growth this year “notably” lower, the International Monetary Fund said on Wednesday. The ki…

#OilPrices #IranUSConflict

Business Recorder

Most Gulf markets retreat on Iran war jitters

Most major Gulf stock markets fell on Wednesday as hostilities flared after U.S.-Iran peace talks stalled. The U.S. military reported that Iranian missile attacks targeting Bahrain, Kuwait, and other sites were either intercepted or failed, while …

#GulfMarkets #Economy #IranUSConflict

Business Recorder

Broad-based losses drag Sri Lankan shares lower for third day

Sri Lankan shares closed lower on Wednesday, dragged by losses across sectors. The CSE All Share index settled down 0.75% at 22,011.10, falling for the third-consecutive day. Dialog Finance PLC and Cargo Boat Development Co were the top percentage…

#StockMarket #SriLanka #Economy

Business Recorder

Indian central bank rebuts media report it sold gold reserves

The Reserve Bank of India on Wednesday denied a Bloomberg News report that said the central bank likely sold gold reserves worth roughly $12 billion in the two weeks through May 22. The RBI said in a statement its physical stock of the precious me…

#GoldReserves #RBI #Economy

Business Recorder

Trump confirms he called Netanyahu crazy in phone call

WASHINGTON: U.S. President Donald Trump acknowledged having called Israeli Prime Minister Benjamin Netanyahu crazy in an expletive-filled phone exchange over fighting in Lebanon while the U.S. was trying to negotiate an end to hostilities with Ira…

#DonaldTrump #BenjaminNetanyahu

Business Recorder

Bangladesh raises electricity prices in latest Mideast war-related hike

DHAKA: Bangladesh raised electricity prices by 16 percent on Wednesday, the latest increase as the government seeks to ease pressure on state finances caused by the conflict in the Middle East. The South Asian nation of 170 million people depends …

#FuelCrisis #OilPrices

Business Recorder

England captain Stokes defends Archer’s IPL-enforced absence from Test side

LONDON: England captain Ben Stokes said the “landscape of cricket” has changed as he defended Jofra Archer’s absence from the first Test against New Zealand at Lord’s because of the fast bowler’s IPL commitments. Archer was a member of the Rajasth…

#BenStokes #JofraArcher

Business Recorder

India tightens checks on overseas flows as currency pressure mounts, sources say

MUMBAI: India’s central bank and markets regulator have tightened checks on overseas investments by firms and family offices, issuing at least 10 queries in the past three weeks to determine any potential misuse of the investment route, three sour…

#MarketTiming