Business Recorder

Europe’s STOXX 600 hits two-week low on Mideast escalation, AI jitters

Europe’s STOXX 600 share index slid to a two-week low on Monday, weighed by escalating tensions in the Middle East and a global selloff in AI stocks, while Italian lender Monte dei Paschi di Siena jumped after a takeover bid from rival Intesa Sanp…

#STOXX600 #MideastEscalation

Business Recorder

Karachi to experience severe heatwave as mercury likely to hit 42°C

The Pakistan Meteorological Department (PMD) has issued a severe weather alert as scorching heatwave conditions are set to grip most parts of Sindh from Monday (today) to Friday, pushing temperatures as high as 51°C in upper districts of the provi…

#Karachi #WeatherAlert

Business Recorder

Four cops martyred as clashes erupts during JAAC crackdown in AJK

Four police personnel, including a sub-inspector, were killed in clashes between law enforcement agencies and protesters belonging to the banned Joint Awami Action Committee (JAAC) in Rawalakot, Azad Jammu and Kashmir (AJK), Aaj News reported on M…

#AJK #Clashes #SHO

Business Recorder

Saudi Arabia sharply cuts July OSP for Asia amid slow demand

Saudi Arabia has cut its official selling prices (OSPs) for crude oil to Asia in July for a second month, as expected, as spot premiums eased on slow demand despite supply disruptions driven by the U.S.-Israeli war with Iran. The July OSP for flag…

#OilPrices #GulfCountries

Business Recorder

London copper near 1-week low on continued inflation worries

London copper remained near one-week lows on Monday, weighed by weaker Chinese prices and growing expectations that strong U.S. jobs data and higher oil prices could push the Federal Reserve toward rate hikes. Benchmark three-month copper on the L…

#LondonCopper

Business Recorder

China’s Xi hails ‘new start’ in North Korea ties ahead of summit

SEOUL/BEIJING: Ties between China and North Korea are at a “new historical starting point”, President Xi Jinping said on Monday in a comment published in the neighbour’s state media before his arrival in Pyongyang for a rare summit with leader Kim…

#China #NorthKorea

Business Recorder

Indian shares decline on oil spike, Asia selloff

Indian shares fell in early trade on Monday, tracking a sharp selloff across Asian markets, and as crude prices spiked due to the escalation of the Middle East conflict. Brent crude rose 3.5% to about $96.5 a barrel after Iran launched missiles at…

#OilSpike #Asia

Business Recorder

Hormuz strait will be open but with transit fees, Iran envoy to Moscow quoted

The Strait of Hormuz will be open but under new conditions to be set by Iran and Oman, including a transit fee, Iran’s ambassador to Moscow was quoted as saying on Monday. The U.S.-Israeli war on Iran has largely cut oil flows via the strait, whic…

#HormuzStrait #Tehran #Moscow

Business Recorder

Gold extends losses on US interest rate-hike fears

Gold prices extended losses on Monday on rising fears of a U.S. rate hike after a strong jobs report, while renewed hostilities in the Middle East pushed oil prices higher and fanned inflation concerns. Spot gold fell 0.2% to $4,319.09 per ounce b…

#Gold

Business Recorder

Dollar hits two-month peak as Fed hike bets ramp up

SINGAPORE: The dollar was perched near a two-month high on Monday after a blowout U.S. jobs report sent traders ramping up bets on a Federal Reserve rate hike this year, while the yen teetered further into the intervention zone. Moves in currencie…

#TaxSystem