United News of Bangladesh

Oil prices jumped and Asian shares were mostly lower Monday after the U.S. carried out airstrikes and Iran retaliated. The price of Brent crude, the international standard, gained 3.6% to $78.76 per barrel, while U.S. benchmark crude added 3.5% to $73.97 per barrel. Prices for both types of crude oil recently had slipped back to around the levels they were at before the war with Iran began after the two sides set an interim agreement on ending the conflict and ships resumed transporting oil through the Strait of Hormuz. However, the United States launched several waves of strikes on Iran into Monday morning over an Iranian attack on a container ship in the strait that set it ablaze and left a crew member missing over the weekend. Iran retaliated by targeting countries across the Middle East. U.S. stock futures fell, with the contract for the S&P 500 down 0.4% and that for the Dow nearly unchanged. The Nasdaq composite future lost 1.2%. In Asian trading, Tokyo's Nikkei 225 index lost 1.9% to 67,242.73, while in Seoul, the Kospi declined 9% to 6,806.93. It's now at its lowest level since April. Shares in South Korean memory chipmaker SK Hynix, which soared 13% in their debut Friday on Wall Street, slumped 15.4% in Seoul. Its bigger rival Samsung Electronics sank 10.7%. Elsewhere in Asia, Hong Kong's Hang Seng edged 0.2% higher, to 24,212.36, and the Shanghai Composite index shed 2.1% to 3,913.79. In Australia, the S&P/ASX 200 was nearly unchanged at 8,808.50. U.S. stocks ticked higher Friday after investors showed sustained appetite for winners of the artificial-intelligence boom. The S&P 500 rose 0.4% and the Dow Jones Industrial Average added 0.3%. The Nasdaq composite climbed 0.3%. SK Hynix's shares jumped immediately after trading began in the midday hours after it raised roughly $26.5 billion by selling American depositary shares at a price of $149 each. SK Hynix’s stock in Seoul had already surged more than 600% over the last year thanks to euphoria around AI. The boom has created real profits due to surging demand for computer memory. But it has also raised worries that AI stock prices have shot have too high and that all the world’s spending on chips and data centers won’t be able to produce enough productivity and profit growth to make it worth it. “The reason why this stock, along with other memory chipmakers, has gone parabolic is that AI demand has somehow created the perception that a sector historically defined by boom-and-bust cycles could remain permanently in the boom phase,” Ipek Ozkardeskaya of Swissquote said in a commentary. SK Hynix plans to double its production capacity, or possibly more, to keep up with demand. However, “Technological breakthroughs, more efficient AI models or simply a slowdown in AI infrastructure investment could quickly turn the market into one of oversupply,” she said. Similar concerns apply to many AI stocks as they've grown into some of Wall Street’s most influential because of their huge valuations. Nvidia was the strongest single force lifting the S&P 500 Friday after rising 4%. Beyond the uncertainty about AI, the focus on Wall Street is shifting to the upcoming reporting season for companies’ profits during the spring. Companies across industries will need to produce big growth in profits to justify the big moves for their stock prices, which are broadly near records. Next week will feature earnings reports from many of the biggest U.S. banks, including Bank of America, Citigroup, JPMorgan Chase, Goldman Sachs and Wells Fargo on Tuesday alone. Worries about how continued fighting with Iran will affect the global flow of crude are clouding the outlook both for energy costs and overall inflation. High bond yields have been weighing on financial markets worldwide since more expensive oil and high inflation could push the Federal Reserve and other central banks to raise interest rates. Higher rates can keep a lid on inflation, but they also slow the economy and hurt prices for all kinds of investments. In other dealings early Monday, the U.S. dollar rose to 162.15 Japanese yen from 161.72 yen. The euro rose to $1.1409 from $1.1408.

Most Asian stock markets closed higher on Friday, supported by gains in technology shares, while oil prices declined as investors kept a close watch on the latest developments in the Iran war. U.S. stock futures were mixed. Market sentiment remained cautious after tensions between Iran and the United States intensified this week. President Donald Trump declared that the Iran war ceasefire agreement was "over," while both countries continued exchanging attacks. South Korea's Kospi index climbed 2.5% to 7,475.94, recovering part of the losses recorded earlier this week. However, shares of memory chipmaker SK Hynix slipped 0.3% in Seoul ahead of its Nasdaq debut in New York later on Friday. Japan's Nikkei 225 gained 1.2% to close at 68,557.73. SoftBank Group, a major investor in OpenAI, surged 10.7%, while chip equipment manufacturer Tokyo Electron rose 2.7%. Hong Kong's Hang Seng Index added 0.5% to 24,156.29. In mainland China, the Shanghai Composite Index erased early gains and ended 1% lower at 3,996.16. Australia's S&P/ASX 200 advanced 0.5% to 8,806.00, while India's Sensex rose 1%. Oil prices moved lower after fluctuating sharply, as concerns persisted over global oil supplies due to the limited number of vessels able to pass through the Strait of Hormuz, one of the world's most important energy shipping routes. Brent crude, the international benchmark, fell 0.8% to $75.66 a barrel, compared with around $72 before the war began in late February. U.S. benchmark crude dropped 0.9% to $71.47 a barrel. On Wall Street, the S&P 500 gained 0.8% on Thursday, while the Dow Jones Industrial Average rose 0.3%. The tech-heavy Nasdaq Composite climbed 1.3% to 26,206.89. Technology stocks, especially semiconductor companies, led the gains. Micron Technology jumped 4.5% after announcing plans to expand its U.S. investments, citing strong demand for memory chips driven by artificial intelligence. Advanced Micro Devices (AMD) rose 5.7%, while Marvell Technology gained 5% and ON Semiconductor added 4.4%. In currency trading early Friday, the U.S. dollar fell to 161.70 Japanese yen from 162.37 yen, while the euro edged up to $1.1439 from $1.1430. The Japanese yen strengthened after Finance Minister Satsuki Katayama said the government would encourage major pension funds to invest more in domestic assets denominated in yen.

Asian stock markets showed mixed performance on Thursday, while oil prices fell as tensions in the Middle East deepened following fresh military strikes by Iran and the United States. US stock futures moved higher. The US carried out additional airstrikes on Iran, while Iran responded by launching attacks targeting Bahrain, Kuwait and Qatar. The latest escalation came a day after US President Donald Trump declared that the temporary ceasefire between the two sides was "over." Despite the renewed fighting, efforts to revive an interim agreement aimed at ending the conflict were continuing through high-level diplomatic talks, according to a regional intelligence official involved in the mediation process who spoke anonymously because of the sensitive nature of the negotiations. Japan's Nikkei 225 index rebounded, rising 1.4 percent to 67,743.85 after earlier losses this week, supported mainly by technology stocks. Chip equipment maker Tokyo Electron jumped 5.5 percent, while AI-focused investment firm SoftBank Group slipped 0.1 percent. South Korea's Kospi index gained 0.6 percent to 7,291.91 after fluctuating during the session. The index had dropped 5.4 percent on Wednesday. Samsung Electronics added 0.2 percent, while memory chip manufacturer SK Hynix surged 5.3 percent. In China, the Shanghai Composite Index climbed 1.7 percent to 4,036.59, even after data showed producer prices rose 4.1 percent in June from a year earlier, compared with a 3.9 percent increase in May. Some economists linked the faster inflation to higher costs resulting from the Iran conflict. Hong Kong's Hang Seng Index fell 0.7 percent to 24,027.97. Apple supplier Luxshare lost 2.5 percent during its Hong Kong market debut, while Chinese artificial intelligence company Zhipu, also known as Z.ai, jumped 9.3 percent after announcing plans to raise about $4 billion through a share sale. Australia's S&P/ASX 200 slipped 0.3 percent to 8,762.50. Taiwan's Taiex fell 0.8 percent, while India's Sensex advanced 0.7 percent. Oil prices eased after rising sharply the previous day. Brent crude, the international benchmark, fell $1 to $77 a barrel after briefly climbing above $80 on Wednesday. Before the Iran conflict began, Brent crude had been trading near $72 a barrel. Earlier hopes for an interim peace deal had briefly pushed prices back to pre-war levels. US benchmark crude oil also declined, falling 83 cents to $72.69 a barrel. On Wall Street, the S&P 500 closed 0.3 percent lower at 7,482.71 on Wednesday after dropping as much as 1.1 percent following Trump's remarks on the ceasefire. The Dow Jones Industrial Average fell 1.1 percent to 52,348.39, while the technology-heavy Nasdaq Composite edged up 0.2 percent to 25,870.65 after recovering from earlier losses. Broadcom shares rose 4.8 percent after Apple announced a multi-year partnership with the US chipmaker. In currency trading, the US dollar slipped to 162.37 Japanese yen from 162.59 yen, while the euro strengthened to $1.1438 from $1.1417.

Oil prices climbed sharply on Wednesday after fresh military action by the United States against Iran reignited concerns over supply disruptions, erasing the recent decline that had returned crude prices to pre-conflict levels. Brent crude, the global benchmark, gained as much as 3 percent, with September futures reaching $76.07 a barrel by 04:00 GMT, their highest level since June 23. The rally followed US airstrikes on Iran and Washington's decision to revoke a temporary sanctions waiver that had allowed limited Iranian oil sales. The moves came after three commercial vessels were attacked in the Strait of Hormuz. The United States, Qatar and Saudi Arabia accused Iran of carrying out the attacks. US Central Command said on X that it had begun “launching a series of powerful strikes against Iran to impose heavy costs for targeting and attacking commercial shipping crewed by innocent civilians in an international waterway”. Although Tehran has denied direct involvement in the vessel attacks, it has repeatedly warned ships against using routes through the strategic waterway that it has not approved. Iranian Deputy Foreign Minister Kazem Gharibabadi said Tehran would take “decisive actions to safeguard its national interests and security” following the US decision to cancel the sanctions waiver, calling it a “blatant violation” of the memorandum of understanding (MoU) signed between Washington and Tehran on June 17. According to Sycamore, the longstanding disagreement between Washington and Tehran over whether the Strait of Hormuz is an international waterway or partly within Iran's territorial waters remains unresolved. “It remains to be seen whether this morning’s US strikes bring a swift end to the latest escalation or Iran elects to continue flexing its leverage over the Strait with actions that fall short of triggering a broader conflict,” Sycamore said in a note to clients on Wednesday. “At the very least, it will keep markets on edge and does suggest crude oil prices have based for now.” The military action followed a separate announcement by the US Treasury Department late Tuesday ending its 60-day waiver on sanctions related to Iranian oil exports. Last month, the Treasury had permitted Iranian oil sales until August 21 as part of wider negotiations with Tehran. However, under the new directive, all such transactions must cease after 12:01am EDT (04:01 GMT) on July 17, according to a statement posted on the department's website. The order also cancels authorisation for any new transactions, including oil purchases or cargo loading, after Tuesday. Saul Kavonic, head of energy research at MST Marquee, said oil prices are likely to remain elevated as security risks continue in the Strait of Hormuz and emergency oil stockpiles begin to diminish. “Iran fully intends to cement its control over the Strait of Hormuz in the coming weeks, which is unacceptable to the US, many Gulf states and global customers, and could result in passage through the strait remaining below 50 percent of pre-war levels for many months with periodic flare-ups in hostilities,” Kavonic told Al Jazeera.

Bangladesh’s ready-made garment (RMG) exports registered a slight year-on-year decline of 1.64 percent, totalling US$ 38.70 billion for the fiscal year 2025-26 from $39.34 billion in FY2024-25, according to recent data from the Export Promotion Bureau (EPB). The export performance highlights shifting trends across major global destinations, featuring an erosion in the European Union (EU) market share alongside steady gains in North America and the United Kingdom. June exports surge by 25.91%, FY26 earnings hold steady at $48 billion: EPB EU Market Contraction Signals Diversification Urgency The EU sustained its position as Bangladesh’s largest single destination bloc, but exports to the region fell by 3.31 percent to $ 19.06 billion. This slump pulled the EU’s share of total apparel exports down to 49.25 percent from 50.10 percent a year earlier. Analysts view this contraction as a strong signal of intensifying market diversification pressure as Bangladesh moves closer to its Least Developed Country (LDC) graduation. Gains in the US, UK, Canada offset declines In stark contrast to the European slowdown, Bangladesh’s other traditional Western markets demonstrated resilience, posting across-the-board growth. Apparel exports to the United States (US) rose by 2.63 percent to reach $ 7.74 billion, lifting its total export share to 20.01 percent from 19.18 percent in the previous year. Shipments to the United Kingdom (UK) edged up by 0.91 percent to $ 4.39 billion, raising its overall market share slightly to 11.34 percent, while exports to Canada grew by 3.20 percent to reach $ 1.34 billion, with its share ticking up to 3.47 percent. Combined, the US, the UK and Canada now account for more than 35 percent of Bangladesh's total RMG exports, partially cushioning the impact of the downturn in the EU market. Slump Hits Non-Traditional Markets The export crunch was not limited to Europe. Apparel shipments to non-traditional markets, including key destinations such as Japan, Australia, Russia, Turkey, and the Gulf states, dropped by 4.25 percent to $ 6.16 billion. Consequently, the collective share of these non-traditional destinations dipped to 15.93 percent from 16.36 percent, marking a second straight area of contraction for the sector. Woven Outperforms Knitwear Product category analysis revealed a varied performance between major garment types. Knitwear exports faced a steeper decline, dropping by 2.53 percent over the fiscal year. Conversely, the woven garment category proved comparatively resilient, experiencing a marginal dip of just 0.61 percent, maintaining a steady trend of outperforming knitwear throughout the majority of the fiscal year. Mohiuddin Rubel, former director of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), told UNB that Bangladesh has to diversify products to increase exports to EU markets.

Invest Qatar, the country’s investment promotion agency, today announced the launch of the Venture Capital (VC) Funding Module on the Invest Qatar Gateway, developed in collaboration with Qatar Investment Authority (QIA). The new offering enhances startups access to capital and investment opportunities, marking a significant milestone in Qatar’s efforts to strengthen its entrepreneurship ecosystem. The new module, accessible to all Invest Qatar Gateway members, consolidates the VC discovery and application process into a single, streamlined platform. Through this module, startups can explore the investment focus areas and eligibility criteria of participating VC funds, many of which are backed by QIA through its $3 billion Fund of Funds programme . Startups can also access value-added services and support programmes and submit their pitches directly to fund managers. By centralising these resources, the platform enhances efficiency, transparency and accessibility throughout the fundraising journey. It also reflects Invest Qatar’s continued commitment to fostering innovation and supporting emerging businesses by directly connecting founders with a curated network of VC funds. In its initial phase, the module features a growing network of participating funds and ecosystem partners, including Tech Venture Fund by Qatar Science & Technology Park (QSTP), and QIA-backed funds A-Typical Ventures, B Capital, Builders VC MENA, Deerfield, The Utopia Studio, Founders Circle Capital, Greycroft, Human Capital, Ion Pacific, Liberty City Ventures, Rasmal Ventures, Shorooq, Speedinvest and The Radical Fund. Commenting on the new launch, Dr. Hamad Rashid Al-Naimi, Chief Strategy Officer at Invest Qatar, said : “The VC Funding Module is the latest addition to the Invest Qatar Gateway, a platform we have built deliberately to streamline and simplify every stage of a founder's journey. By bringing QIA-backed funds together on a single, transparent platform, we offer startups something rare in emerging ecosystems: a clear, direct path from idea to institutional capital, with access to the networks, expertise and resources needed to scale and succeed globally.” “As Qatar’s venture capital ecosystem continues to evolve, this module will provide entrepreneurs with a centralised platform that enables them to have greater visibility of the opportunities available, and clearer pathways to connect with the relevant fund managers,” said Haya Al Ghanim, Director of Qatar Funds at QIA . “This module supports our shared mission of establishing Qatar as a leading destination for innovation and entrepreneurship.” Startups seeking access to venture capital are encouraged to visit the Invest Qatar Gateway and explore the newly launched VC Funding Module. Through the platform, entrepreneurs can review participating QIA-backed funds, assess investment criteria and formally submit their pitch to fund managers. To register, learn more or get in touch with the Invest Qatar team, please visit: https://gateway.invest.qa/  

Global stock markets showed mixed performance on Wednesday after a broad sell-off in major technology stocks spread from Asia to Wall Street, while oil prices fell amid signs of progress in talks between the United States and Iran. U.S. stock futures were mixed as investors closely watched market movements, particularly in Japan and South Korea, where stock markets had surged in recent months on the back of the artificial intelligence (AI) boom but faced sharp declines on Tuesday. In Europe, Britain’s FTSE 100 slipped 0.1% to 10,417.97 in early trading. Germany’s DAX dropped 0.8% to 24,687.18, while France’s CAC 40 gained 0.2% to 8,355.36. Asian markets delivered a mixed picture. South Korea’s Kospi index rebounded 3.3% to 8,471.02 after plunging 10% a day earlier. Shares of memory chipmaker SK Hynix rose 1%, while Samsung Electronics jumped 9.8% after suffering a 12.3% decline on Tuesday. Japan’s Nikkei 225 fell 0.9% to 69,174.97, extending losses after a 3.6% drop in the previous session. Taiwan’s Taiex index, heavily influenced by technology stocks, declined 2.2%. Hong Kong’s Hang Seng Index edged up 0.3% to 23,412.18, while China’s Shanghai Composite Index gained 0.1% to 4,110.81. Australia’s S&P/ASX 200 added 0.2% to 8,808.40. The weakness in Asian markets followed losses on Wall Street, where the benchmark S&P 500 fell 1.4% on Tuesday. The tech-focused Nasdaq Composite dropped 2.2%, while the Dow Jones Industrial Average slipped 0.1%. Technology and semiconductor stocks led the decline in the United States. Chipmaker Micron Technology tumbled 13.2%, while AI giant Nvidia lost more than 4%. James Reilly, senior markets economist at Capital Economics, said the sharp swings highlighted growing volatility in technology stocks, especially in South Korea, where retail investors are playing a larger role in the market. Meanwhile, oil prices declined as more ships resumed crossing the Strait of Hormuz and negotiations aimed at reaching a permanent end to the Iran conflict appeared to make progress. Analysts at ING said market movements suggest investors expect oil supplies from the Persian Gulf to recover relatively quickly. However, they noted that shipping traffic through the strategic waterway remains below pre-conflict levels. Brent crude, the international oil benchmark, fell 1.6% to $75.57 per barrel. Although it has remained below $80 in recent days, prices are still higher than the roughly $70 per barrel level seen before the conflict began. U.S. benchmark crude dropped 1.8% to $71.92 per barrel. Investors are now awaiting Thursday’s release of the U.S. personal consumption expenditures (PCE) price index for May, the inflation measure most closely watched by the Federal Reserve. Many economists expect the Fed to keep interest rates unchanged this year, although concerns about inflation, partly driven by global energy market disruptions, have kept bond yields elevated. In currency trading, the U.S. dollar rose to 161.74 Japanese yen from 161.55 yen, while the euro weakened to $1.1347 from $1.1382.

Asian stock markets traded mixed on Tuesday as investor caution returned amid uncertainty over efforts to end the war in Iran, cooling recent strong gains across the region. Japan’s benchmark Nikkei 225 fell 0.9% in early trading to 71,681.29, while analysts said the market was taking a breather after a strong rally. “We’ve had eight days of strong markets. The market was up about 12.5%, and now it has cooled off a little bit,” said Neil Newman, managing director and head of strategy at Astris Advisory Japan. Australia’s S&P/ASX 200 edged up less than 0.1% to 8,822.10, while South Korea’s Kospi dropped sharply by 2.8% to 8,863.52. Hong Kong’s Hang Seng slipped 0.4% to 23,678.22, and China’s Shanghai Composite gained 0.2% to 4,170.58. On Wall Street, U.S. stocks closed mixed on Monday as oil prices eased and major technology shares fell. The S&P 500 declined 0.4%, pulling 1.8% below its recent record high after a strong run of gains in recent weeks. The Dow Jones Industrial Average rose 148 points, or 0.3%, while the Nasdaq Composite dropped 1.3%, dragged down by weakness in major tech stocks. Oil prices eased after weekend discussions between the United States and Iran over the ongoing conflict. U.S. Vice President JD Vance said the talks had created a “good foundation for a successful final deal.” Any resolution to the conflict could reopen the Strait of Hormuz, a critical route for global oil shipments. Iran had claimed it closed the strait, but U.S. Central Command disputed the claim. In early trading Tuesday, U.S. crude oil rose 35 cents to $74.21 per barrel, while Brent crude added 23 cents to $78.13. Bond yields also moved higher, with the 10-year U.S. Treasury yield rising to 4.50% from 4.46%, as markets speculated that the Federal Reserve could raise interest rates to contain inflation driven by higher energy costs. Economists expect upcoming U.S. inflation data to show consumer prices rising to 4.1% in May, up from 3.8% in April. In corporate trading, shares linked to SpaceX fell 16.4% to $154.60, marking a third straight decline after a recent surge following its stock market debut. Major tech stocks also weighed on the S&P 500, including Alphabet, Amazon and Broadcom, which each dropped between 4% and 5%. Overall, the S&P 500 lost 27.79 points to close at 7,472.79. The Dow gained 148.01 points to 51,712.71, while the Nasdaq fell 351.33 points to 26,166.60. In currency markets, the U.S. dollar edged slightly higher to 161.60 Japanese yen, while the euro traded at $1.1427.

China on Monday announced sanctions on 10 American military-related companies in response to a recent U.S. move that bars some leading Chinese tech companies from defense contracts. The Commerce Ministry said that Chinese companies would be blocked from exporting “dual-use” items to the 10 companies, which include military drone makers and some involved in rare earth mining. Dual use refers to goods that can have military as well as non-military applications. The ministry said the export ban was both to safeguard China’s national security and in response to what it called the U.S. government’s “wrongful expansion of its so-called List of Chinese Military Companies.” Separately, the Finance Ministry said that government entities would be prohibited from buying products from 46 American companies including Lockheed Martin and Raytheon Missiles & Defense, the official Xinhua News Agency reported. Earlier this month, the U.S. Defense Department added several tech companies including Alibaba and Baidu to its list of firms that it says have links to the Chinese military. Baidu said the suggestion that it is a military company is “totally baseless.” The designation prevents them from getting U.S. military contracts. The Commerce Ministry said at the time that the American sanctions run counter to the consensus that Chinese leader Xi Jinping and U.S. President Donald Trump reached during Trump's visit to China in May. In Monday's announcement, the ministry said that companies or individuals in third countries are prohibited from transferring dual-use items from China to the sanctioned American firms. It also said that Chinese companies could apply for export approval for goods that are “genuinely necessary.” The 10 companies are AVEOX in Simi Valley, California; Red Cat Holdings and Teal Drones, both in South Salt Lake, Utah; IMSAR in Springville, Utah; Jaia Robotics in Bristol, Rhode Island; Ball Aerospace & Technologies in Broomfield, Colorado; Oshkosh Defense in Oshkosh, Wisconsin; L3Harris Maritime Services in Norfolk, Virginia; MP Materials in Las Vegas; and USA Rare Earth in Stillwater, Oklahoma.

Yum Brands has agreed to sell Pizza Hut for a combined $2.7 billion, ending its ownership of the iconic pizza chain as the company seeks to focus on higher-performing brands amid declining sales at Pizza Hut. The parent company of KFC, Taco Bell and Pizza Hut announced Tuesday that private equity firm LongRange Capital will acquire Pizza Hut’s operations outside mainland China for approximately $1.5 billion. Pizza Hut’s mainland China business will be purchased by Yum China Holdings for about $1.2 billion. China is the chain’s second-largest market after the United States, accounting for nearly one-fifth of global sales. Yum Brands began reviewing strategic options for Pizza Hut last November after the chain continued to lag behind the company’s other restaurant brands. While Yum’s global sales increased 5 percent last year, Pizza Hut recorded a 2 percent decline. Earlier this year, Yum announced plans to shut down 250 Pizza Hut outlets in the United States. At the end of last year, the brand operated nearly 20,000 restaurants worldwide. Industry analysts said Pizza Hut has struggled for years to regain momentum amid intense competition and changing consumer preferences. Neil Saunders, managing director of GlobalData, described Pizza Hut as the weakest performer within Yum’s portfolio, saying efforts to revive the chain and close underperforming stores had failed to return the business to sustained growth. Founded in 1958 in Wichita, Kansas, by two brothers using a $600 loan from their mother, Pizza Hut grew into the world’s largest pizza chain by sales in the early 1970s. The company became part of PepsiCo in 1977 before being spun off into what later became Yum Brands in 1997. The chain’s business model came under pressure in the 1980s as rivals such as Domino’s expanded rapidly through home delivery services. Pizza Hut’s large dine-in restaurants became less suited to evolving consumer habits. In recent years, the growth of food delivery platforms such as DoorDash and Uber Eats has further intensified competition by giving consumers access to a wider range of food options beyond pizza. Yum Brands Chief Executive Officer Chris Turner said the sale would allow Pizza Hut to pursue growth under owners with extensive restaurant industry experience. He added that LongRange Capital and Yum China are well positioned to support the brand’s future development in their respective markets. The Louisville, Kentucky-based company expects both transactions to be completed during the third quarter of the year. Yum Brands’ shares rose about 3 percent following the announcement.