Category: Business

Gold prices in Pakistan fell on Monday as the local rate per tola dropped by Rs3,800 to reach Rs453,336.

US President Donald Trump told Ukrainian President Volodymyr Zelensky on Sunday in Ireland to cease attacks on Russian diesel infrastructure due to global supply concerns.

Donald Trump criticized artificial intelligence skeptics in Ireland on Sunday following a decision by OpenAI to delay its initial public offering.

Enflame Technology shares rose 179 percent on their first day of trading on the Shanghai stock exchange. The Tencent-backed company opened at 410 yuan and closed at 397 yuan after reaching a peak of 475 yuan. This listing gives the firm a market capitalization of 170.9 billion yuan.

The National Assembly Standing Committee on Information Technology and Telecommunication expressed concern over deteriorating mobile and internet services in Pakistan. The committee directed the Pakistan Telecommunication Authority to submit details of fines imposed on operators during the last six months. Representatives from telecom companies were summoned to explain measures taken to improve network quality and infrastructure.

Reports indicate that gold prices per tola in Pakistan reached Rs456,736 on Saturday, following a Friday price of Rs456,736 after a decline. The All-Pakistan Gems and Jewellers Sarafa Association provided these rates alongside changes for 10-gram gold and silver. International gold prices were reported at approximately $4,346 per ounce by one source and $4,342 by another.

Brent crude futures rose past $100 a barrel amid concerns over supply disruptions from escalating Middle East conflicts. Traders noted that attacks on shipping routes and energy facilities have increased risks to regional oil flows. While some reports mention specific price fluctuations, the primary consensus involves heightened market anxiety regarding potential interruptions in supply.

Prime Minister Shehbaz Sharif chaired a meeting to coordinate efforts between federal and provincial governments for increasing farm productivity and promoting exports. He directed authorities to seek new global markets and instructed commercial officers abroad to support these initiatives. The briefing noted that agricultural exports reached $5.18 billion in the last financial year.

The Pakistan Bureau of Statistics reported that the Sensitive Price Index increased by 0.23 percent for the week ending September 10. Year-on-year inflation stood at 8.62 percent, driven primarily by significant increases in petrol, diesel, LPG, and onion prices. Of the 51 items tracked, 14 saw price increases while 10 experienced declines.

The federal government increased the retail price of petrol by Rs5.02 and high-speed diesel by Rs5.28 per litre on Friday. These new rates will apply from Saturday, September 12, through Monday, September 14. This adjustment marks the fifth consecutive weekly revision in petroleum product prices.