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

Business Recorder

Indian rupee dented by oil price jump, equity weakness; likely RBI intervention caps losses

MUMBAI: The Indian rupee weakened on Wednesday, weighed by a jump in oil prices on renewed hostilities in the Middle East and weakness in local stocks while likely market intervention by the central bank capped losses. Towards the end of the tradi…

#IndianRupee #OilPrices #RBI

Business Recorder

US cites forced labor concerns as grounds for new tariffs

WASHINGTON: The Trump administration has proposed new tariffs of up to 12.5% on imports from 60 economies after determining they had failed to curb trade in goods made with forced labor, an assertion that was rejected by its trading partners. The …

#USTariffs #ForcedLabor

Business Recorder

Indian shares trim losses on foreign inflow hopes; IT sinks, oil surges

Indian shares pared some of their intraday losses on Wednesday on reports of likely government measures to stem the rupee’s slide, attract foreign bond investors, and review the long-term capital gains tax. However, a pullback in IT stocks after a…

#OilSurges #IT

Business Recorder

India approves $1 billion fund to help airlines weather fuel cost surge

NEW DELHI: India approved a 100 billion Indian rupee ($1.05 billion) fuel stabilisation fund on Wednesday to help keep jet fuel prices in check for airlines hit by rising costs from the Iran war. The government said the support would be provided a…

#FuelCost #India

Business Recorder

IIFL Finance eyes 7.60% coupon for dollar bond fundraise, sources say

MUMBAI: Indian gold loan financier IIFL Finance has proceeded with its dollar-bond fundraising plan and invited commitments from global investors, with pricing set to be finalised before the end of the week, two sources said on Wednesday. IIFL Fin…

#IIFLFinance #DollarBond

Business Recorder

India set for $2-billion drone order in biggest buy, industry body says

NEW DELHI: India is likely to order more than $2 billion worth of military drones from domestic firms this year in its biggest such purchase, an industry body working with the government told Reuters, as global and regional conflicts boost demand….

#India #Drone

Business Recorder

Rupee records gain against US dollar

Rupee’s Performance Against US Dollar Since 04 March 2025 The Pakistani rupee appreciated against the US dollar in the inter-bank market on Wednesday. At close, the local currency settled at 278.45, a gain of Re0.01 against the greenback. On Tuesd…

#Rupee

Business Recorder

European stocks dip on Mideast tensions, private market jitters

European shares slipped on Wednesday as renewed Middle East hostilities and signs of strain in private markets spooked investors, while Zara owner Inditex gained after reporting a strong start to the summer. The pan-European STOXX 600 index dipped…

#StockMarket #MiddleEast #Economy