-- Business activity and new work in Saudi Arabia's non-oil private sector emerged from contraction in April as output and orders increased despite deferrals in client spending and continued shipping disruptions due to the Middle East conflict.
The Riyad Bank Saudi Arabia PMI rose to 51.5 in April from 48.8 in March, exceeding the 50-point neutral threshold and indicating a "modest recovery" in operating conditions, the Riyad Bank and S&P Global said Tuesday.
Lehar Footwears (BOM:532829) plans to establish a new manufacturing unit in Haryana, India, to strengthen its presence in the athleisure and sports footwear market, according to a Tuesday filing to the Indian stock exchanges.The company has already signed a rent agreement for the proposed facility, which is expected to commence commercial operations in the second quarter of the financial year 2026.The new facility will focus on manufacturing sports shoes and related products. It will help the company scale up production capacity from around 100,000 pairs per month to 500,000 pairs per month in a phased manner.The company's shares were up nearly up 3% in recent trade.
New Zealand shares ended lower on Tuesday as most Asian indexes saw losses amid fresh attacks exchanged between the US and Iran over the Strait of Hormuz.The S&P/NZX 50 Index fell 0.47% or 61.98 points to close at 13,035.70.The US and Iran exchanged fresh strikes across the Gulf on Monday, vying for control of the Strait of Hormuz with rival maritime blockades and rattling an already fragile truce, according to a Monday Reuters report.Meanwhile, New Zealand signed an agreement with Singapore on Monday to keep supply chains open between the countries during times of crisis, according to a Monday Reuters report.In domestic news, the ANZ World Commodity Price Index fell 0.8% month over month in April, with dairy prices in a period of high volatility, particularly butter and anhydrous milk fat, according to a report from ANZ Research.Further, overall card spending fell 2.5% in April, but was up 4.4% compared with the same time last year, ANZ Research said in a note.In corporate news, Fletcher Building (ASX:FBU, NZE:FBU) acknowledged recent media reports about its ongoing strategic review of the residential and development division, including speculation around a potential industrial property sale, but declined to provide further comment.Synlait Milk (ASX:SM1, NZE:SML) obtained two waivers in relation to its syndicated loan facilities, as external challenges continue to strain the company's financial performance.