Business Recorder

India’s BPCL says to shut crude unit at Mumbai refinery in November

India’s Bharat Petroleum Corporation will shut a 120,000 barrel per day crude unit and some secondary units at its Mumbai refinery for maintenance in November, an industry source said on Monday. The state-run refiner initially planned to shut the …

#India #OilPrices

Business Recorder

Three Air India aircraft grounded after weather damage, regulator says

Three Air India Airbus A320 aircraft have been grounded for inspection and maintenance after they were damaged on June 7 due to poor weather conditions, India’s aviation regulator said on Monday. Strong winds moved ground equipment into two of the…

#AirIndia #Weather

Business Recorder

Dar chairs review of auto policy with focus on accelerating EV transition

Deputy Prime Minister and Foreign Minister Senator Ishaq Dar on Monday chaired a high-level meeting to review Pakistan’s Auto and Auto Parts Policy, with a particular focus on accelerating the country’s transition towards electric vehicles (EVs). …

#IshaqDar

Business Recorder

India-US trade deal can be finalised after tariff probe concludes, official says

NEW DELHI: India is pushing for preferential new tariffs from the United States as part of talks to finalise an interim trade deal with Washington, an Indian trade official said on Monday. The U.S. and India reached an initial understanding on a t…

Business Recorder

PTC seeks 10-year fixed-rate financing, tax relief for exporters in budget

The Pakistan Textile Council (PTC) has urged the government to introduce a 10-year fixed-rate financing facility for industrial investment, restore the Final Tax Regime (FTR) for exporters and abolish advance taxes on the export sector in the fede…

#TaxSystem

Business Recorder

Wall St gains as chips rebound, Middle East tensions ease

Wall Street’s major indexes advanced on Monday, as chipmakers bounced back from a sharp selloff last week, while investors took comfort from signs of cooling tensions in the Middle East. Intel shares jumped 8.5%. The Information reported that Alph…

#Tension

Business Recorder

Powerful Philippine quake leaves at least 32 feared dead, survivors recount fear

GENERAL SANTOS: The death toll in a powerful 7.8‑magnitude earthquake off the southern Philippine island of Mindanao on Monday has risen to at least 32, with dozens of people injured, disaster officials said, as Manila stepped up search and rescue…

#Philippines #DrowningIncident

Business Recorder

India bond rally survives US-Iran war, oil flare-up in RBI policy afterglow

MUMBAI: Indian government bonds advanced on Monday, defying an oil price spike triggered by escalation in the war in the Middle East, as optimism over the Reserve Bank of India’s softer policy tone and steps to attract foreign inflows supported se…

#India #Economy #OilPrices

Business Recorder

Chicago wheat falls to two-month lows on ample supply, corn and soybeans also down

BEIJING/HAMBURG: Chicago wheat futures fell to their lowest level in around two months on Monday, pressured by abundant global supplies, weak demand for U.S. exports and the advancing harvest in the U.S. Plains. Corn and soybeans also dropped, wit…

#WheatPrices #Economy

Business Recorder

India reports surprise current account surplus in Jan-March quarter

MUMBAI: India reported a surprise current account surplus in the January-March quarter of fiscal 2025/26 on the back of strong earnings from the services sector and an increase in worker remittances, the central bank said on Monday. The current ac…

#India