» India cuts import tax on crude edible oils to help reduce food prices
02/06/25 15:54 from Business Recorder - Latest News
MUMBAI: India halved the basic import tax on crude edible oils to 10% on Friday, the government said, as the world’s biggest vegetable oil importer tries to bring down food prices and help the local refining industry. The customs duty ap...
» Indian benchmarks end lower as IT, metals outweigh growth boost
02/06/25 15:51 from Business Recorder - Latest News
India’s equity benchmarks ended marginally lower on Monday, led by IT and metals stocks, as global trade concerns outweighed optimism from stronger-than-expected domestic growth data. The Nifty 50 dipped 0.14% to 24,716.6, while the BSE ...
» US copper futures surge as tariff fears loom
02/06/25 15:33 from Business Recorder - Latest News
U.S. copper futures surged nearly 6% on Monday, widening their premium over London prices amid rising speculation about possible new import tariffs following President Donald Trump’s latest aluminium trade measures. Trump said on Friday ...
» South Africa power hitter Klaasen retires from international cricket
02/06/25 15:30 from Business Recorder - Latest News
South Africa batter Heinrich Klaasen has retired from all forms of international cricket, a blow for the country ahead of their co-hosting of the 2027 World Cup where he would have been a major draw card. Klaasen, 33, is one of the world...
» Microsoft to invest $400 million in Switzerland on AI, cloud computing
02/06/25 15:26 from Business Recorder - Latest News
ZURICH: Microsoft will invest $400 million in Switzerland, the company said on Monday, with the money going towards developing its cloud computing and artificial intelligence infrastructure. The U.S. tech company announced the investment...
» India’s top miner tests local iron ore pricing; shift from global index, source says
02/06/25 15:19 from Business Recorder - Latest News
NEW DELHI: India’s key iron ore producer NMDC is testing a new pricing formula for its output to shield its profits from the volatilities reflected in global benchmarks, a source with direct knowledge of the matter told Reuters. State-ru...
» US dollar declines as steel tariffs, China tensions hurt sentiment
02/06/25 15:13 from Business Recorder - Latest News
The U.S. dollar fell against other major currencies on Monday, giving up some of the previous week’s gains, as markets weighed the outlook for President Donald Trump’s tariff policy and its potential to constrict growth and unleash infla...
» Courtois out of Belgian squad for World Cup qualifiers
02/06/25 15:10 from Business Recorder - Latest News
Belgium goalkeeper Thibaut Courtois has withdrawn from the squad for their opening two World Cup qualifiers this month because of a back injury. The player’s club Real Madrid said on Sunday that he had been diagnosed with sacroiliitis – ...
» Safe-haven rush lifts gold to one-week peak as trade, geopolitical risks intensify
02/06/25 15:08 from Business Recorder - Latest News
Gold prices rose nearly 2% to a one-week high on Monday, driven by safe-haven demand as renewed U.S. tariff threats from President Donald Trump and escalating tensions between Russia and Ukraine heightened global trade and geopolitical f...
» Aluminium premiums for US buyers soars after Trump doubles tariffs
02/06/25 15:06 from Business Recorder - Latest News
LONDON: Premiums for consumers buying aluminium on the physical market in the United States soared on Monday after U.S. President Donald Trump said he planned to increase tariffs on imported steel and aluminium to 50% from 25%. European ...
» India’s Maruti says no immediate impact from China rare earth magnet curbs
02/06/25 15:02 from Business Recorder - Latest News
NEW DELHI: Maruti Suzuki, India’s top-selling carmaker, said on Monday there was no immediate production impact from China’s export curbs on rare earth magnets, a key component, and that it was in talks with the government on the matter....
» ADNOC lowers Murban export forecast for August 2025 to May 2026
02/06/25 14:58 from Business Recorder - Latest News
SINGAPORE: Abu Dhabi National Oil Co (ADNOC) has lowered its monthly export forecast for Murban crude from August to next May to increase processing at its own refinery, the company said. ADNOC set its August export forecast of the light...
» Japan rubber futures fall to over one-month low on firm seasonal supply outlook
02/06/25 14:56 from Business Recorder - Latest News
SINGAPORE: Japanese rubber futures weakened for a fourth straight session on Monday, hitting their lowest in more than a month, as seasonal harvesting firmed supply prospects. The Osaka Exchange (OSE) rubber contract for November deliver...
» India bond yields resume decline as all eyes on RBI decision this week
02/06/25 14:53 from Business Recorder - Latest News
MUMBAI: Indian government bond yields declined at the start of the week, in which the central bank is expected to deliver yet another cut in its key policy rate, after wild upswings on Friday following surprising growth data. The yield o...
» Indian rupee ends higher boosted by fragile dollar, likely portfolio inflows
02/06/25 15:24 from Business Recorder - Latest News
MUMBAI: The Indian rupee strengthened on Monday, supported by weakness in the U.S. dollar and modest dollar inflows that helped the local currency begin the week on a positive note. The rupee closed at 85.3825 against the U.S. dollar, up...
» South Korean shares flat ahead of election; chipmakers counter losses in steelmakers
02/06/25 14:49 from Business Recorder - Latest News
SEOUL: Round-up of South Korean financial markets: South Korean shares ended little changed on Monday, as gains in chipmakers offset losses in steelmakers, while investor focus was on the country’s snap presidential election a day later....
» South African rand gains before manufacturing PMI, vehicle sales data
02/06/25 14:47 from Business Recorder - Latest News
JOHANNESBURG: The South African rand gained some ground against a weaker dollar in early trade on Monday, ahead of a purchasing managers’ index (PMI) survey for the domestic manufacturing sector and vehicle sales figures. At 0602 GMT, th...
» Ugandan shilling stable on weak importer appetite
02/06/25 14:45 from Business Recorder - Latest News
KAMPALA: The Ugandan shilling was steady in early trade on Monday compared with the previous session, underpinned by slow importer appetite for hard currency, traders said. At 0755 GMT commercial banks quoted the shilling at 3,633/3,643 ...
» Russian rouble weakens vs US dollar ahead of Ukraine talks
02/06/25 14:44 from Business Recorder - Latest News
MOSCOW: The Russian rouble fell against the U.S. dollar on Monday ahead of a new round of talks between Russia and Ukraine in Istanbul and following Ukrainian attacks on Russian air bases on Sunday. By 0920 GMT, the rouble was down 1.7% ...
» Japan’s Nikkei ends lower on worries about US-China trade tension, stronger yen
02/06/25 14:41 from Business Recorder - Latest News
TOKYO: Japan’s Nikkei share average ended lower on Monday amid worries over trade tensions between the U.S. and China, and a stronger yen, which hurt automakers. The Nikkei fell 1.3% to 37,470.67 and the broader Topix slipped 0.87% to 27...