Latest news with #186
Express Tribune
2 days ago
- Business
- Express Tribune
Defence budget hiked by 20.2% to Rs2,550b
Listen to article The government has announced major allocations for defence, civil administration, pensions, subsidies, and grants in its budget for the financial year 2025-26. The defence budget has been hiked by over 20% as Rs2,550 billion has been set aside in the budget 2025-26, which will be spent on the operations, equipment, and other needs of the Pakistan Army, Pakistan Air Force, Pakistan Navy, and related defence institutions. For civil administration expenses, Rs971 billion has been earmarked, which includes operational expenses of federal ministries, departments, and the civil bureaucracy. Read more: Finance minister unveils anti-digital, pro-realty sector budget An amount of Rs1,055 billion has been allocated for pension payments, which will be made to retired government employees. As per the budget document, this amount is increasing every year, adding to the government's financial woes. As for subsidies, the government has earmarked Rs1,186 billion for various sectors, particularly the power sector. These subsidies will be provided to low-income consumers, agricultural tube-wells, and the industrial sector to facilitate them. For grants, Rs1,928 billion has been allocated, which will be distributed among the Benazir Income Support Program (BISP), Azad Jammu and Kashmir, Gilgit-Baltistan, and the merged districts of Khyber-Pakhtunkhwa. The aim is to promote development, welfare projects, and financial stability in these regions.
Malay Mail
23-04-2025
- Malay Mail
Kuching man pleads not guilty to attempted murder after allegedly trying to ram cops with 4WD
KUCHING, April 23 — A 41-year-old man pleaded not guilty in the Magistrates' Court here today to the attempted murder of two policemen using a four-wheel-drive (4WD) vehicle last month. Magistrate Mason Jaro Lenya Barayan fixed May 26 for pre-trial case management before releasing Mark Lionel Micheal on RM3,000 bail with one surety. Mark allegedly committed the offence framed under Section 307 of the Penal Code at Jalan Green here between 3.30am and 3.40am on March 29. According to the investigation, Mark allegedly drove his 4WD vehicle at speed towards policemen on duty on the road. In a separate courtroom, Mark was also charged under Section 186 of the Penal Code for obstructing policemen in the discharge of their public functions. Magistrate Ling Hui Chuan ordered for him to be released on RM2,000 cash bail with one surety after fixing May 27 for pre-trial case management. According to the charge, Mark allegedly obstructed policemen on duty by refusing to stop his vehicle when asked to and instead attempting to escape from police on pursuit at a Jalan Green bus stop. Mark was represented by defence counsel Andrew Winston Kaya, while the prosecution was handled by Insp Nur Shafiqa Nyaie Ilin. On April 7, passengers Rogers Diana, 42, and Desmond Naud, 35, who were Mark's passengers in the 4WD vehicle, were each sentenced to eight months in jail after they pleaded guilty to obstructing policemen from discharging their duties. In a statement on March 30, Kuching acting police chief Supt Merbin Lisa said three men, aged 39, 41, and 43, were arrested after attempting to flee from a police chase in a 4WD vehicle on Green Road during the wee hours of March 29. He said the driver of the 4WD attempted to ram a patrol vehicle with three police officers inside, prompting one of the officers to fire a shot at the vehicle and causing it to crash. Merbin said the gunshot hit the 41-year-old suspect and he was sent to hospital to receive treatment. According to him, all the suspects, two of whom had prior drug-related criminal records, tested positive for drugs. — The Borneo Post
TimesLIVE
22-04-2025
- Automotive
- TimesLIVE
How China's cutthroat EV revolution leaves little margin for profit
As the sun set over Hong Kong's Victoria Harbour, well-dressed social media influencers swarmed a lineup of sleek electric vehicles from Chinese carmaker Xpeng, among the buzziest brands in the world's premier EV market. Xpeng had come to the cruise ship terminal ahead of this week's Shanghai auto show to unveil its upscale X9 minivan priced from 359,800 yuan (R916,186) with automated-driving features, a drop-down screen to entertain rear seat passengers, and even a built-in refrigerator. The biggest crowds surrounded Xpeng's concept flying car, which sat next to a six-wheeled van designed to carry it. At a press conference the next day, Xpeng CEO He Xiaopeng and president Brian Gu bristled with ambition, predicting the company would emerge as one of few survivors from China's hypercompetitive EV industry by expanding globally and building in-house artificial intelligence capabilities. Like Tesla , it aims to develop robotaxis and humanoid robots. Unlike Tesla, Xpeng has yet to turn a profit, despite fast growing sales since its first car debuted in 2018 and an investment from Volkswagen. The same is true of scores of other China EV makers, even as the sector leads a technological revolution that is upending the automotive industry globally. Only a handful make money, most notably BYD , China's biggest EV and hybrid producer and Tesla's leading rival.
Express Tribune
18-03-2025
- Business
- Express Tribune
Gold continues upward flight to Rs317,350/tola
Listen to article Gold prices continued their ascent to new heights, reaching an all-time high in Pakistan on Tuesday, mirroring the global upward trend. The price of gold per tola surged by Rs2,550, reaching Rs317,350. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 10-gram gold rose by Rs2,186, settling at Rs272,076. This surge follows Monday's record-breaking increase of Rs1,100 per tola, which pushed gold prices to Rs314,800. On the global front, the price of gold also witnessed an upward movement, rising by $25 to reach $3,022 per ounce, including a premium of $20. Adnan Agar, Director of Interactive Commodities, commented on the price movement, stating that gold had touched a high of $3,038 during the day before pulling back slightly. He pointed out that if gold continues to stay above the $3,000 mark, it could test levels between $3,025 and $3,040. He also attributed the bullish trend in gold prices to geopolitical tensions, including the recent US strike on Yemen and ongoing global economic uncertainty. Given the current market conditions, he suggested that gold remains technically strong, with potential for further upside unless significant resistance levels are broken. ANZ (Australia and New Zealand Banking Group Limited) raised its zero-to-three-month gold price forecast to $3,100 per ounce and its six-month forecast to $3,200 per ounce, according to a research note on Tuesday. Gold prices surpassed the significant $3,000 mark on Tuesday for the second time, setting a new high, as investors sought cover from economic concerns fuelled by US President Donald Trump's tariff policies. Meanwhile, the Pakistani rupee experienced a slight depreciation against the US dollar on Tuesday, slipping by 0.04% in the interbank market. By the end of the trading session, the rupee closed at 280.27, marking a decline of 10 paisa compared to the previous day's close of 280.17. On the global front, the US dollar remained near a five-month low against the euro and other major currencies as investors assessed the potential economic fallout from rising global trade tensions. Moreover, the inflow of remittances under the Roshan Digital Account (RDA) rose to $9.768 billion by the end of February 2025, compared to $9.564 billion at the end of January 2025. The data showed that remittance inflows during February were recorded at $204 million, compared to $222 million in January and $203 million in December 2024, according to the latest figures released by the State Bank of Pakistan (SBP). RDA provides banking solutions to Non-Resident Pakistanis (NRPs), including Non-Resident Pakistan Origin Card (POC) holders, seeking to undertake banking, payment, and investment activities in Pakistan. According to the data, almost 797,350 accounts were registered under the programme by the end of February 2025. By the end of February, overseas Pakistanis had invested $459 million in Naya Pakistan Certificates, $860 million in Naya Pakistan Islamic Certificates, and $59 million in Roshan Equity Investment.
