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

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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

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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

Business Recorder

Trump says ‘would like to meet’ Iran leader Khamenei

WASHINGTON: US President Donald Trump said Wednesday he hopes to meet Iran’s supreme leader Mojtaba Khamenei, as Washington and Tehran accuse each other of violating an increasingly fragile ceasefire. Mojtaba Khamenei, 56, is thought to have been …

#DonaldTrump #MojtabaKhamenei #IranUSConflict

Business Recorder

Qualifier Chwalinska reaches French Open semi-finals

PARIS: Polish qualifier Maja Chwalinska continued her dream run at the French Open on Wednesday, reaching the semi-finals with a 7-6(3) 6-3 victory over Russia’s Anna Kalinskaya on a windswept Court Philippe Chatrier. The 24-year-old absorbed the …

#FrenchOpen2024

Business Recorder

Copper pulls back as fresh attacks in the Middle East curb risk appetite

LONDON: Copper prices retreated on Wednesday after fresh hostilities in the Iran war punctured optimism that a resolution was imminent and lifted the dollar, though the prospect of U.S. tariffs limited the downside. Benchmark three-month copper on…

#CopperPrices #MiddleEastConflict

Business Recorder

Malaysian palm surges 3% to four-week high on Chicago soyoil strength

KUALA LUMPUR: Malaysian palm oil futures surged more than 3% on Wednesday, reaching a four-week high, supported by stronger Chicago soyoil prices, though profit-taking limited the upside. The benchmark palm oil contract for August delivery on the …

#PalmOil #Soyoil