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French luxury giant LVMH has expressed full confidence in the Chinese market despite sluggish consumption in the world’s second-largest economy, promising continued investment in what it calls “the beating heart of global luxury”.“The future of luxury is being shaped here, in China, with China and with our Chinese clients,” said Marc-Antoine Jamet, LVMH’s secretary general, in Paris before heading to the annual China International Import Expo (CIIE) in Shanghai.China is a top market for the French luxury giant, where it operates 46 brands, more than 1,800 stores and about 27,000 employees, according to Jamet.“Local consumption continues to move upmarket, guided…

The Collectorate of Customs (Enforcement), Multan, successfully foiled a smuggling attempt and seized 30 kilograms of silver valued at approximately Rs13.4 million during an enforcement operation near Bawata, Dera Ghazi Khan. Acting on credible information and in coordination with local authorities, the Anti-Smuggling Organization (ASO) intercepted a passenger bus and conducted a detailed examination, the Federal Board of Revenue (FBR) said in a statement. During the inspection, ASO officials recovered silver bars weighing around 30kg from unclaimed luggage. “No passenger came forward to claim ownership or produce valid import or purchase documents, confirming the smuggled nature of the consignment,” read…

BRUSSELS (AP) — The European Union on Tuesday praised Ukraine’s progress on reform to join the bloc despite concerns over its efforts to tackle corruption, and issued tough warnings to candidates Serbia and Georgia about democratic backsliding.In a series of enlargement reports, the bloc’s executive branch, the European Commission, also said that Montenegro could wrap up its EU membership talks by the end of next year, leaving it first in line to become the 28th member country.The annual reports on 10 countries, most of them in the Western Balkans, come with the EU’s enlargement process all but stalled. Croatia was…

Risks surrounding Venezuela, which holds the world’s largest oil and gas reserves, are rising significantly. With President Nicolás Maduro calling on Russia, China, and Iran for assistance in facing a potential military confrontation with the United States, anxiety is growing across global oil and gas markets over the possibility of a new conflict.   The growing U.S. military buildup around Venezuela — officially described by the Trump administration as a campaign against the country’s alleged role in international drug trafficking — closely resembles the “military training exercises” carried out by Vladimir Putin’s Russia before its invasion of Ukraine.   Although…

Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry has emphasised the need to establish stronger maritime linkages between Pakistani ports and Romania’s Port of Constanta, describing it as a key step toward expanding access to European markets and promoting the country’s blue economy. The development came during a meeting between Chaudhry and Romanian Ambassador Dr Dan Stoenescu at the Pakistan International Maritime Expo and Conference (PIMEC) 2025 on Tuesday. Rear Admiral Atiq-ur-Rehman, Acting Chairman of the Karachi Port Trust, also attended the meeting, read a statement. The minister said Pakistan wants to play a bigger role in global maritime…

A remark by US Vice-President J.D. Vance expressing hope that his Hindu wife might convert to Christianity has drawn sharp criticism in India, where commentators see it as a troubling signal ahead of his expected bid for the Republican Party’s 2028 presidential nomination.Speaking at the University of Mississippi last week, the vice-president said his children were being raised as Christians and that Second Lady Usha Vance also attended church with the family most Sundays.“Do I hope eventually that she is somehow moved by the same thing that I was moved in by church? Yeah, I honestly do with that. Because…

Risks surrounding Venezuela, which holds the world’s largest oil and gas reserves, are rising significantly. With President Nicolás Maduro calling on Russia, China, and Iran for assistance in facing a potential military confrontation with the United States, anxiety is growing across global oil and gas markets over the possibility of a new conflict.   The growing U.S. military buildup around Venezuela — officially described by the Trump administration as a campaign against the country’s alleged role in international drug trafficking — closely resembles the “military training exercises” carried out by Vladimir Putin’s Russia before its invasion of Ukraine.   Although…

Gold traded below the $4,000-per-ounce mark again on Tuesday as the dollar remained resilient at over three-month highs, while reduced chances of another U.S. interest rate cut in December and easing U.S.-China trade tensions blunted bullion’s demand. Spot gold was down 0.8% at $3,970.39 per ounce, as of 0625 GMT. U.S. gold futures for December delivery slid nearly 1% to $3,979.30 per ounce. The dollar steadied, hovering near a three-month high as a divided U.S. Federal Reserve spurred traders to rein in interest rate cut wagers. “The stronger dollar is acting as a thorn in the side of gold, with…

BRUSSELS (AP) — The European Union is attempting to forge new climate goals on Tuesday before the U.N. climate talks in Brazil starting next week.Ministers from across the 27-nation bloc are meeting in Brussels to try and get at least 15 to align their nationally-determined emissions targets in order to have a stronger negotiating position during the COP30 summit in Belém.“We need to show to the world that we are leaders in climate change. We need to deliver adequate signals for investors. Today’s the day,” Spanish climate minister Sara Aagesen said before the meeting.The EU’s long-held leadership of action on…

Federal Minister for Communications Abdul Aleem Khan has invited the Kingdom of Saudi Arabia to invest in Pakistan’s major motorway and infrastructure projects, citing vast opportunities in the country’s expanding transport and logistics network. The development came during Aleem Khan’s meeting with the Minister of Transport and Logistic Services of the Kingdom of Saudi Arabia, Engineer Saleh bin Nasser Aljasser, on the sidelines of the Pakistan International Maritime Expo and Conference (PIMEC 2025) in Karachi, read a statement. During the meeting, Aleem expressed Pakistan’s strong desire to further enhance cooperation with the Kingdom of Saudi Arabia in the fields of…