Business Recorder

Asia rice: Indian rice export prices fall; Bangladesh proposes cutting rice tax

Indian rice export price dipped this week on sluggish demand and depreciation in the rupee, while Bangladesh has proposed cutting the withholding tax on rice. India’s 5% broken parboiled variety was quoted at $335-$340 per ton this week, down from…

#Gandom #Economy

Business Recorder

Reliance, Vedanta, Adani join India’s drive to cut China rare earth dependence, sources say

NEW DELHI: Indian industrial groups Reliance, Vedanta and Adani have shown interest in developing facilities to process Andhra Pradesh state’s significant reserves of increasingly important rare-earth minerals, according to two sources with knowle…

#Economy

Business Recorder

Serena out of Queen’s doubles after partner Mboko injured

LONDON: Serena Williams’ comeback was put on hold on Thursday as her doubles partner Victoria Mboko withdrew from the Queen’s Club WTA event with a knee injury. After nearly four years away, the 44-year-old American great partnered Canadian teenag…

#Serena

Business Recorder

PM Shehbaz approves strategic roadmap to revamp Pakistan Railways

Prime Minister Muhammad Shehbaz Sharif on Sunday approved a comprehensive strategic roadmap aimed at transforming Pakistan Railways into a safe, affordable, and modern transport network. Chairing a high-level meeting in Islamabad, the prime minist…

#ShehbazSharif

Business Recorder

Copper slips to three-week low on fund selling, worries about Middle East

LONDON: Copper prices drifted to their lowest in three weeks on Thursday as the U.S. and Iran exchanged more attacks, prompting funds to liquidate positions on worries about higher interest rates, weaker global economic growth and softer metals de…

#Economy #War

Business Recorder

Palm climbs for second straight session on stronger rival oils

KUALA LUMPUR: Malaysian palm oil futures settled higher for a second straight session on Thursday, as stronger rival edible oils supported the market. The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange g…

#Economy

Business Recorder

India allows regulator to raise cancer drug prices to tackle shortage

India has given the go-ahead to a regulator for raising prices of platinum-based cancer drugs that have been in short supply due to a spike in raw material costs, according to a letter seen by Reuters . Patients in the world’s most populous countr…

#Economy

Business Recorder

Indian shares close flat for second session on renewed Middle East escalation

Indian benchmark shares ended flat for a second straight session on Thursday as risk-off sentiment remained firm following renewed escalation in the Middle East conflict, while IT stocks declined for a seventh consecutive session on AI-led disrupt…

#MiddleEast

Business Recorder

Indian rupee drops on dollar demand from oil cos, nearly erases RBI-led gains

MUMBAI: The Indian rupee dropped against the U.S. dollar on Thursday, almost wiping out gains from the central bank’s measures to attract dollar inflows, as weak Asian cues and persistent dollar demand from oil firms weighed. The Indian rupee open…

#OilTanker

Business Recorder

Rupee registers gain against US dollar

The Pakistani rupee gained against the US dollar in the inter-bank market on Thursday. At close, the local currency settled at 278.35 , a gain of Re0.01 against the greenback. On Wednesday , the local unit closed at 278.36. Meanwhile, the US dolla…

#PKR