» Turkiye halts trade with Israel until permanent Gaza ceasefire
03/05/24 20:59 from Business Recorder - Latest News
ISTANBUL: Turkiye said on Friday it will not resume trade with Israel, worth $7 billion a year, until a permanent ceasefire and humanitarian aid are secured in Gaza, becoming the first of Israel’s key commercial partners to take such a s...
» Wall St gains after soft jobs data allays rate jitters
03/05/24 19:48 from Business Recorder - Latest News
Wall Street’s main indexes advanced on Friday after a softer-than-expected jobs report revived hopes of the Federal Reserve cutting interest rates this year, while gains in Apple and Amgen on upbeat corporate updates added support. U.S. ...
» Yemen’s Houthis say they will target ships heading for Israel anywhere within range
03/05/24 19:32 from Business Recorder - Latest News
DUBAI: Yemen’s Houthis will target ships heading to Israeli ports in any area that is within their range, military spokesman Yahya Sarea said in a televised speech on Friday. “We will target any ships heading to Israeli ports in the Medi...
» Global LNG: Asia spot LNG price rises on hotter summer forecast, supply concerns
03/05/24 19:27 from Business Recorder - Latest News
LONDON: Asian spot liquefied natural gas (LNG) prices rose this week on forecasts for higher cooling demand this summer and tracking a rally in European gas prices underpinned by supply concerns due to Middle East tensions and weakness i...
» Financials, consumer staples lift Sri Lankan shares
03/05/24 19:23 from Business Recorder - Latest News
BENGALURU: Sri Lankan shares closed higher on Friday, aided by gains in financial and consumer staples stocks. The CSE All Share index settled up 0.41% at 12,404.33. The benchmark has advanced 1.67% this week. Carson Cumberbatch Plc and ...
» Russia says it is ready for ‘serious’ Ukraine peace proposals
03/05/24 19:05 from Business Recorder - Latest News
MOSCOW: Russia is ready to consider “serious” proposals to settle the Ukraine conflict based on existing “realities” and Moscow’s security concerns, Russian foreign ministry spokeswoman Maria Zakharova said on Friday. She also told a pre...
» ADB agrees $5 billion funds replenishment with donors
03/05/24 19:02 from Business Recorder - Latest News
TBILISI: The Asian Development Bank (ADB) said on Friday it had agreed a $5 billion replenishment with donors for the bank’s two funds, Asian Development Fund (ADF) 14 and Technical Assistance Special Fund (TASF) 8. The ADF is ADB’s larg...
» Health ministry in Gaza says war death toll at 34,622
03/05/24 18:54 from Business Recorder - Latest News
GAZA CITY: The health ministry in Gaza said on Friday that at least 34,622 people have been killed in the Palestinian territory during almost seven months of war between Israel and Hamas. Hamas considering latest Gaza truce offer in ‘pos...
» Sony and Apollo propose $26bn Paramount offer, WSJ reports
03/05/24 18:35 from Business Recorder - Latest News
Sony Pictures Entertainment (SPE) and private equity firm Apollo Global Management have made a $26 billion cash offer for movie group Paramount Global, the Wall Street Journal reported. The companies submitted a non-binding offer letter ...
» India’s foreign exchange reserves drop to seven-week low
03/05/24 17:43 from Business Recorder - Latest News
MUMBAI: India’s foreign exchange reserves fell for a third consecutive week and stood at a seven-week low of $637.92 billion as of April 26, according to data from the central bank on Friday. The reserves fell by $2.41 billion in the rep...
» UAE markets track oil prices higher
03/05/24 17:35 from Business Recorder - Latest News
Stock markets in the United Arab Emirates rose on Friday, tracking gains in oil prices on the prospect that OPEC+ will continue to curb output. Three sources from the OPEC+ group said it could extend its voluntary oil output cuts of 2.2 ...
» Russia says UK foreign minister’s remarks show West is waging hybrid war with Moscow
03/05/24 17:31 from Business Recorder - Latest News
MOSCOW: Russian foreign ministry spokeswoman Maria Zakharova said on Friday remarks by British Foreign Secretary David Cameron amounted to an acknowledgement that the West is waging a war against Russia using “Ukrainian hands”. Cameron s...
» Bangladesh win toss, bowl in first Zimbabwe T20
03/05/24 17:16 from Business Recorder - Latest News
CHITTAGONG: Bangladesh captain Najmul Hossain Shanto won the toss and elected to bowl first Friday in the first of five Twenty20 matches against Zimbabwe in Chittagong. Bangladesh handed a T20 international debut to opener Tanzid Hasan T...
» Alcaraz out of Italian Open with continuing forearm pain
03/05/24 17:10 from Business Recorder - Latest News
MADRID: World number three Carlos Alcaraz on Friday withdrew from next week’s ATP Italian Open due to ongoing pain in his right forearm, an injury that sidelined him in Monte Carlo and Barcelona. The blow comes weeks away from the second...
» Luxury brands lure Chinese shoppers despite slowdown
03/05/24 17:00 from Business Recorder - Latest News
SHANGHAI: Sipping champagne and nibbling fried dumplings, Shanghai’s rich and influential posed by Louis Vuitton signs at a runway afterparty – a lavish affair designed to win customers in China’s crucial market. China is the world’s big...
» Indian shares fall on profit taking after Nifty 50 scales record high
03/05/24 16:59 from Business Recorder - Latest News
BENGALURU: Indian shares dropped on Friday, as profit booking emerged after the Nifty 50 scaled a record high, trimming weekly gains for the blue-chip indexes. The blue-chip Nifty 50 fell 0.8% and S&P BSE Sensex dropped 1% on the day...
» Copper bounces on weak dollar but heads for weekly decline
03/05/24 16:56 from Business Recorder - Latest News
LONDON: Copper prices bounced on Friday, supported by a softer dollar and revisions to forecasts showing diminished supply after mine disruptions. Three-month copper on the London Metal Exchange (LME) rebounded 1% to $9,867 a metric ton ...
» Palm oil almost flat but logs fourth consecutive weekly loss
03/05/24 16:39 from Business Recorder - Latest News
KUALA LUMPUR: Malaysian palm oil futures were little change on Friday but logged a fourth consecutive week of losses, as declining exports and lower soybean oil prices weighed. The benchmark palm oil contract for July delivery on the Bur...
» European court upholds Italy’s claim to Greek bronze in US museum
03/05/24 16:28 from Business Recorder - Latest News
STRASBOURG, France: Italy is allowed to confiscate an ancient Greek bronze fished from the Adriatic in the 1960s and now in the Getty Museum in Los Angeles, Europe’s top rights court ruled Thursday. Representing a nude athlete and known ...
» Kenya floods death toll tops 200 as cyclone approaches
03/05/24 15:42 from Business Recorder - Latest News
NAIROBI: The death toll from flood-related incidents in Kenya has crossed 200 since March, the interior ministry said Friday, as a cyclone barrelled towards the Tanzanian coast. Torrential rains have lashed East Africa, triggering floodi...