At current prices, the looted gold is worth around $70 million. PHOTO: PIXABAY Gold and silver prices on Friday increased in both local and international markets. The price of gold rose by Rs3,400 per tola, reaching Rs490,362. The rate for 10 grams of gold also increased by Rs2,915 to Rs420,406. In the international market, gold…
KARACHI: Stocks came under renewed selling pressure at the Pakistan Stock Exchange (PSX) on Friday as investor sentiment remained fragile following the government’s decision to withdraw fuel subsidies and sharply increase petroleum prices. The benchmark KSE-100 index experienced a volatile session, losing over 1,600 points. It initially plunged deeply before recouping some of the losses,…
Chamber says global prices have doubled; calls for carpooling, limiting non-essential travel KARACHI: The Karachi Chamber of Commerce and Industry (KCCI) has called on citizens to adopt responsible fuel consumption habits as petroleum prices continue to rise in line with global market trends. Sharing his views with The Express Tribune, KCCI President Rehan Hanif emphasised…
Industry says rules are impractical, may deepen liquidity crisis and delay reimbursement ISLAMABAD: Oil marketing companies (OMCs) have raised serious concerns over new verification requirements imposed by the Oil and Gas Regulatory Authority (Ogra) for the release of price differential claims (PDC), warning the move could delay reimbursements and deepen liquidity crisis. In a recent…
TOKYO: Microsoft on Friday said it will invest 1.6 trillion yen ($10 billion) in Japan between 2026 and 2029 to expand artificial intelligence (AI) infrastructure and strengthen cybersecurity cooperation with the government. The investment includes the training of 1 million engineers and developers by 2030, Microsoft said, which was unveiled during a visit to Tokyo…
Minister directs resolution of conversion fees issue via stakeholder consultation LAHORE: Provincial Minister for Industries and Commerce Chaudhry Shafay Hussain has assured industrialists that their genuine issues would be addressed on a priority basis, particularly the demand to abolish conversion fees imposed by the Ravi Urban Development Authority (Ruda) in Saggian Industrial Area. The assurance…
World’s third-biggest oil importer and consumer, India has not received a cargo from Tehran since May 2019 Kerosene oil. BENGALURU: Indian refiners have purchased Iranian oil amid the Middle East conflict that has disrupted supplies through the Strait of Hormuz, the oil ministry said on Saturday. The world’s third-biggest oil importer and consumer, India has…
Ministers from Germany, Italy, Spain, Portugal and Austria say companies must help ‘ease burden’ BERLIN: Five European Union countries are calling for a windfall tax on energy companies’ profits in reaction to rising fuel prices due to the Iran war, according to a letter from finance ministers to the EU Commission seen by Reuters on…
Industry experts warn CKD imports fuel trade deficit as localisation fails to keep pace The three Japanese carmakers lacked innovation and competitiveness, despite the incentives offered to them in the previous policies, said government officials as they announced the auto policy. PHOTO: FILE KARACHI: In the last two auto policies, the government aimed to increase…
ISLAMABAD: Pakistan is considering introducing a further reduction in gas supplies to domestic consumers through rationing amid the deepening Middle East war, which has disrupted oil and gas transportation through the region. However, the ministers in a committee constituted to review energy matters opposed any gas rationing plan with the argument that it would result…