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

Business Recorder

Pakistan’s iTANZ approves Rs4.34bn overseas acquisition

Pakistan-based iTANZ Technologies Limited has approved an investment of up to AUD 21,857,641, approximately Rs4,344 million, to acquire 51% stake in Australia-based ITANZ Infinity Pty Ltd, an associated company. The information was disclosed in a …

#Legislation

Business Recorder

Oil prices climb more than $3 after Israeli strikes on Lebanon

PERTH/ BEIJING: Brent oil prices jumped more than $3 a barrel on Monday, initially spooked by Israel’s launch of renewed strikes on Lebanon a day earlier, but also gaining further steam after sounds of explosions were heard in Iran. Sounds of blas…

#Palestine #OilPrices

Business Recorder

Australia lose captain Marsh, opener Head for Bangladesh ODI series

Australia captain Mitchell Marsh, opener Travis Head and spinner Tanveer Sangha have all been ruled out of the three-match one-day international (ODI) series Bangladesh, the country’s cricket board said on Monday. The trio have been replaced by To…

#Bangladesh

Business Recorder

Selling engulfs bourse, KSE-100 down 1,900 points

Selling pressure engulfed the Pakistan Stock Exchange (PSX) amid escalating geopolitical tensions, with the benchmark KSE-100 Index shedding over 1,900 points during the opening minutes of trading on Monday. At 9:30am, the benchmark index was hove…

#KSE100

Business Recorder

Trump says will urge Netanyahu not to retaliate against Iranian missiles: Axios

WASHINGTON: US President Donald Trump said Sunday he will call Israeli Prime Minister Benjamin Netanyahu to urge him not to retaliate against Iranian missile strikes on Israel, news outlet Axios reported. “I am going to call Bibi right now and tel…

#DonaldTrump #BenjaminNetanyahu #Iran

Business Recorder

Israel military chief vows to strike Iran ‘with force as soon as greenlight is given’

JERUSALEM: Israeli military chief Lieutenant General Eyal Zamir vowed Sunday that the military would strike Iran “with force” upon receiving orders, after the Islamic republic fired missiles at Israel. Also read: Iran fires missiles at Israel for …

#Israel #Iran

Business Recorder

Israel army says Iran committed ‘grave mistake’ by firing missiles

JERUSALEM: Israel accused Tehran of committing a “grave mistake” on Sunday after reporting it had come under several waves of Iranian missile fire, the first such attack since a truce was announced on April 8 in the Middle East War. Air raid siren…

#Israel #Iran

Business Recorder

Stabilisation fatigue is now setting in

EDITORIAL: Balancing the budget is becoming increasingly difficult. Despite imposing exorbitant taxes on the formal sector, the FBR (Federal Board of Revenue) is missing its revenue target by a wide margin, while next year’s targets are becoming e…

#Economy