Business Recorder

Australia shares extend gains on Middle East peace hopes

Australian shares extended their gains into a second straight session on Friday, with most sectors trading in positive territory, as hopes for progress in a potential US-Iran peace deal improved investor optimism. The S&P/ASX 200 index rose 0.5% t…

#Australia #StockMarket #MiddleEast

Business Recorder

Australia, NZ dollars slip on mixed signals over Gulf peace deal

SYDNEY: The Australian and New Zealand dollars slipped on Friday as investors digested conflicting signals on a peace deal in the Gulf, which failed to offer clarity on when the Strait of Hormuz might reopen. The Aussie slipped 0.1% to $0.7141, ha…

#Australia #NewZealand #CurrencyExchange

Business Recorder

Iron ore set for second weekly loss on higher supply, concerns over demand

BEIJING: Iron ore prices started on a wobbly footing on Friday, poised for a second straight weekly decline amid prospects of rising supply and seasonally weakening demand, but resilient near-term consumption in top buyer China curbed broad losses…

#IronOre #SupplyChain

Business Recorder

Japan AI shares follow US peers higher, driving Nikkei toward record high

TOKYO: Japan’s Nikkei share average soared more than 2% on Friday, bringing it close to last week’s record peak, as AI shares rallied on the back of gains for US peers. The Nikkei climbed 2.4% to 63,127.44 late in the morning session, putting it w…

#JapanAI #Nikkei

Business Recorder

China’s yuan weakens slightly against dollar as US-Iran talk in focus

SHANGHAI: China’s yuan weakened slightly against the dollar on Friday as traders keep their eyes on US-Iran talks and war-triggered inflation worries that pushed up US yields. In the near term, analysts expect the yuan to fluctuate against the gre…

#ChinaYuan #USIran

Business Recorder

SBP to remain closed on Eid-ul-Azha

The State Bank of Pakistan (SBP) announced on Friday a three-day holiday on account of Eid-ul- Azha. As per a statement, the SBP will remain closed from May 26th to May 28th (Tuesday to Thursday), being public holidays on the occasion of Eid-ul-Az…

#SBP #EidAlAdha

Business Recorder

Pakistan’s Mecom Gas Pvt Ltd eyes $20mn IPO to build LPG storage: report

Mecom Gas Pvt Ltd, a Pakistani Liquefied Petroleum Gas (LPG) marketing and distribution company, is considering an initial public offering (IPO) on the Pakistan Stock Exchange to raise $20 million for the construction of a liquefied petroleum gas …

#MecomGas #LPGStorage #IPO

Business Recorder

Chicago corn falls on favourable US weather, strong exports limit losses

BEIJING: Chicago corn futures fell on Friday as beneficial weather in the US favoured crop development, although strong exports kept a floor under the market. Wheat fell, while soybeans were flat. The most-active corn contract on the Chicago Board…

#ChicagoCorn #USWeather

Business Recorder

Lenovo Q4 revenue tops estimates on strong PC sales; shares jump 15%

BEIJING: Lenovo Group reported a better-than-expected 27% jump in quarterly revenue on Friday, as strong consumer demand for PCs ahead of potential price hikes helped the world’s largest computer maker expand its market share. Lenovo shares surged…

#Economy

Business Recorder

Japanese bonds mixed as traders weigh Iran war outlook, BOJ policy path

TOKYO: Japanese government bonds were mixed on Friday, with optimism about a near-term end to the Iran war pulling longer-dated yields lower, while speculation for earlier Bank of Japan tightening lifted shorter-dated yields. The yields on Japan’s…

#iranuswar #Economy