Gold falls despite global surge
KARACHI: Gold prices in Pakistan declined on Tuesday despite the fact that the global market…
Gold falls despite global surge
KARACHI: Gold prices in Pakistan declined on Tuesday despite the fact that the global market surged more than 2% after softer-than-expected US inflation data boosted hopes of a less hawkish stance by the Federal Reserve. According to the All-Pakistan Gems and Jewellers Sarafa Association, gold per tola was quoted at Rs424,136 after falling Rs5,600 during…
‘We should not treat AI as a threat,’ Australian premier rolls out new AI framework
New set of standards to provide rules for data centers, minimum water usage, underwrite or supply their own power Australian Prime Minister Anthony Albanese on Wednesday rolled out a framework for his country’s approach to artificial intelligence (AI), saying AI would become central to Australia’s productivity, economic resilience, and sovereign capability. In an address at…
SC limits customs action over misdeclaration
Court further held that where a dispute relates merely to the interpretation of law ISLAMABAD: The Supreme Court has ruled that proceedings under Section 32 of the Customs Act, 1969 cannot be initiated unless the Customs Department establishes deliberate misdeclaration, false documentation or fraud. The court further held that where a dispute relates merely to…
PSX plunges 6,400 points on ME tensions
KARACHI: Massive selling eclipsed trading at the Pakistan Stock Exchange (PSX) on Tuesday as escalating US-Iran tensions and soaring oil prices sparked panic, dragging the KSE-100 index down by more than 6,400 points. The market remained under pressure since the opening bell, with investors offloading shares across the board amid fears that the geopolitical situation…
Muslim man stabbed multiple times in US over his religion, police say
A man was arrested in Utah, United States, for stabbing a Muslim man multiple times and stated that he targeted the victim because of the victim’s religion, police said in court records on Tuesday. Police said the suspect told them he “intends to kill Muslims” and that he constituted “a substantial danger to the public…
Fazl's remark draws ministers' ire
Ministers from the ruling Pakistan Muslim League-Nawaz (PML-N) on Tuesday lashed out at Jamiat Ulema-e-Islam-Fazl (JUI-F) chief Maulana Fazlur Rehman over his remarks about security personnel, saying the sacrifices of martyrs could not be reduced to salaries or become the subject of political debate. Information Minister Attaullah Tarar said there was no room for such…
Oil hits one-month high over Hormuz tensions
NEW YORK: Oil prices rose to a one-month high on Tuesday after the US reimposed a naval blockade on Iran and as renewed attacks between Washington and Tehran heightened concerns over energy flows through the Strait of Hormuz. Before the Iran war, about 20% of global oil supplies flowed through the strait. Keeping price gains…
US sanctions more than 50 individuals, entities, vessels tied to Iranian shipping.
Sanctions target financial facilitators, shipping executives, logistics firms, vessel operators The US imposed sanctions Tuesday on more than 50 individuals, companies and vessels accused of supporting an alleged illicit shipping and sanctions evasion network linked to Iranian oil shipping magnate Mohammad Hossein Shamkhani, the Treasury Department announced. The Department of the Treasury’s Office of Foreign…
PM Shehbaz reviews monsoon preparedness with NDMA chief
Premier orders closer coordination with provincial governments, disaster authorities amid monsoon season Prime Minister Shehbaz Sharif meets Chairman National Disaster Management Authority Lt General Inam Haider Malik in Islamabad, July 15, 2026. PHOTO: PMO/X Prime Minister Shehbaz Sharif on Wednesday met the Chairman of the National Disaster Management Authority (NDMA), Lieutenant General Inam Haider Malik,…
China trade surges16.9% in H1
High-tech and green exports drive growth as imports jump, though global risks loom China is also seeking to expand domestic semiconductor manufacturing capacity and reduce the industry’s reliance on advanced Nvidia chips that are subject to US export controls. PHOTO: REUTERS BEIJING: China’s foreign trade posted strong growth in the first half of 2026, expanding…
