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ISLAMABAD: Effective September 16, federal government has increased the prices of high-speed diesel (HSD) and kerosene oil. The price of HSD has risen by Rs 2.78 per litre, bringing the new price to Rs 272.77 per litre from Rs 269.99. Kerosene oil also saw an increase of Rs 3.15 per litre, with its new price at Rs 179.96 per litre. Meanwhile, the price of petrol remains unchanged at Rs 264.61 per litre for the second consecutive review period. These price changes are part of the government’s fortnightly review, which takes into account international oil prices and currency exchange rates. The…

BEIJING: China accused the United States of “unilateral bullying” in calling on allies to impose tariffs on China over its purchase of Russian oil, fueling tensions as Chinese and U.S officials meet in Spain to try to resolve trade disputes. China opposes Washington’s request that the Group of Seven and NATO countries impose secondary tariffs on Chinese imports over its purchase of Russian oil, China’s commerce ministry said on Monday, calling it “a classic example of unilateral bullying and economic coercion”. Officials from China and the US on Monday entered a second day of talks in Madrid to try to…

HAMBURG: State agency the Trading Corporation of Pakistan (TCP) has issued a new international tender to purchase 100,000 metric tons of white refined sugar and is believed to have bought 100,000 tons in a tender last week, European traders said on Monday. The deadline for submission of price offers in the new tender is September 23. Traders said the new announcement followed a purchase last week of about 100,000 tons of medium grade sugar in a previous tender made at an estimated $560 a ton cost and freight included (c&f). Trading house Bare was believed to be the seller. Reports…

LONDON (AP) — U.S. President Donald Trump arrives in the United Kingdom on Tuesday for a state visit during which the British government hopes a multibillion-dollar technology deal will show the transatlantic bond remains strong despite differences over Ukraine, the Middle East and the future of the Western alliance.State visits in Britain blend 21st-century diplomacy with royal pageantry. Trump’s two-day trip comes complete with horse-drawn carriages, military honor guards and a glittering banquet inside a 1,000-year-old castle — all tailored to a president with a fondness for gilded splendor.King Charles III will host Trump at Windsor Castle on Wednesday before…

A swarm of Russian drones flies into Poland in what officials there regard as a deliberate provocation. NATO responds by bolstering the alliance’s air defenses on its eastern flank.Moscow showcases its conventional and nuclear military might in long-planned exercises with Belarus, as it warns the West against sending foreign troops into Ukraine.These events — all taking place in the month since the U.S.-Russia summit meeting in Alaska failed to bring peace to Ukraine — have only heightened tensions in eastern Europe.When Russian President Vladimir Putin launched the full-scale invasion of Ukraine in February 2022, it came days after joint maneuvers…

Japan is set to deploy advanced drones to intercept unidentified aircraft and vessels in a move designed to reduce the burden on fighter pilots and modernise its military response protocols amid an increase in air and maritime incursions.Operational testing of the US-manufactured MQ-9B SeaGuardian drones for this purpose is expected to begin next year, according to a report by the Yomiuri newspaper, citing sources within the defence ministry.Analysts say Japan’s military is playing catch-up. The country’s Self-Defence Forces have faced mounting pressure from frequent incursions into national airspace and territorial waters, primarily by Chinese units in the south and Russian…

Bitcoin rose slightly on Monday, extending its recent gains amid growing conviction that the US Federal Reserve will cut interest rates this week.   However, most alternative cryptocurrencies declined, and emerging concerns about the long-term viability of large corporate investments in Bitcoin – which had been a major source of demand this year – limited its upside.   Bitcoin gained 0.7% to $116,527.3 by 02:01 ET (06:01 GMT), after rising about 5% last week.   Bitcoin supported by rate cut bets but caution remains   Bitcoin has recently seen a gradual recovery from the steep losses suffered between mid-August and…

Hong Kong’s offshore yuan bond market is on track for a record-breaking year as some of mainland China’s largest technology firms prepare for deals, underscoring the city’s push to be a fundraising hub beyond equities.Chinese search-engine giant Baidu on September 9 said it would issue 4.5 billion yuan (US$618 million) in dim sum bonds, following a 10 billion yuan sale in March. Technology firms Meituan and Tencent Holdings were also reportedly weighing debt sales. Neither firm has made such a move in four years.Corporate issuers have raised a record US$46.2 billion so far this year, according to Bloomberg data. Deutsche…

Hong Kong’s offshore yuan bond market is on track for a record-breaking year as some of mainland China’s largest technology firms prepare for deals, underscoring the city’s push to be a fundraising hub beyond equities.Chinese search-engine giant Baidu on September 9 said it would issue 4.5 billion yuan (US$618 million) in dim sum bonds, following a 10 billion yuan sale in March. Technology firms Meituan and Tencent Holdings were also reportedly weighing debt sales. Neither firm has made such a move in four years.Corporate issuers have raised a record US$46.2 billion so far this year, according to Bloomberg data. Deutsche…

Earlier this month, Anthropic, the American artificial intelligence company, entered the US-China fight. It barred companies from using its AI services if they were more than 50 per cent owned by Chinese entities. This was a double punch – China’s access to American technology hit another obstacle, and the global business world was prodded again to reject Chinese investment.Just a few months ago, Anthropic’s move would have knocked the wind out of China. But the recent Shanghai Cooperation Organisation (SCO) summit in Tianjin and military parade in Beijing have given China new momentum, one seemingly unstoppable as geopolitical winds shift…