Latest news with #354
Express Tribune
26-05-2025
- Business
- Express Tribune
Gold falls Rs2,600 on global slowdown
Globally, gold prices rose for a third straight session, helped by a softer dollar and safe-haven demand amid economic and geopolitical uncertainty. photo: Reuters Local gold prices declined on Monday, tracking a slowdown in the international bullion market. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold dropped by Rs2,600 per tola, settling at Rs351,500 in the local market. The price of 10-gram gold also fell by Rs2,228, closing at Rs301,354. The downturn comes after a notable gain over the weekend when gold prices surged by Rs3,100 per tola on Saturday to hit Rs354,100. Globally, gold prices also saw a dip on Monday. The international rate stood at $3,331 per ounce (including a $20 premium), reflecting a decrease of $26, according to APGJSA. Adnan Agar, Director at Interactive Commodities, noted that market activity was subdued due to a US bank holiday, with early closure and minimal trading volumes. "The market is practically flat today. The high was $3,356, while the low touched $3,323. It's currently hovering around $3,335," he said. Agar added that the recent easing of trade tensions between the US and Europe also contributed to the decline. The issue of additional European tariffs, hinted at by former President Donald Trump on Friday, was resolved over the weekend after discussions with the European Union. Trump agreed to delay the tariffs, which led to pressure on gold prices. He further predicted that prices may continue to slide once international markets resume full operations on Tuesday. Meanwhile, the Pakistani rupee recorded a minor loss against the US dollar on Monday, slipping by 0.03% in the inter-bank market. The local currency closed at 282.06, down by Rs0.09 from the previous session, according to data released by the State Bank of Pakistan (SBP). During the preceding week, the rupee had also weakened slightly, depreciating by Rs0.31 or 0.11%, ending at 281.97 against the greenback compared to 281.66 a week earlier. "At the close of the trading session, the Pakistani rupee depreciated by 0.03% day-on-day (DoD) against the US dollar, settling at 282.06. On a calendar year-to-date (CYTD) basis, the rupee has weakened by 1.24%, while the depreciation stands at 1.32% on a fiscal year-to-date (FYTD) basis," wrote Ismail Iqbal Securities. On the global front, both the euro and the US dollar gained ground against traditional safe-haven currencies like the Japanese yen and Swiss franc. The uptick followed former US President Donald Trump's announcement of a July 9 deadline for finalising a trade agreement with the European Union, effectively withdrawing his earlier threat of imposing a 50% tariff starting June 1.
Express Tribune
26-05-2025
- Business
- Express Tribune
Gold prices drop in global, local markets
Listen to article Gold prices saw a decline in both global and local markets today, as a weakening demand caused significant price drops. The price of gold in the international bullion market fell by $26 per ounce, settling at $3,331 after a three-day break. Following the global downturn, local gold markets also witnessed a price reduction. On Monday, the price of 24-karat gold dropped by Rs2,600 per tola, bringing it to Rs351,500. Similarly, the price of gold per 10 grams also saw a decline of Rs2,228, now priced at Rs301,354. In contrast, silver prices remained stable. The price of one tola of silver stood unchanged at Rs3,508, while the price for 10 grams was also steady at Rs3,007. On Saturday, gold prices had increased in line with an upward trend in the international market. In the local market, the price of gold per tola rose to Rs354,100, reflecting a gain of Rs3,100 during the day.
The Sun
21-05-2025
- General
- The Sun
SG student alleges parents refuse to pay for uni fees
A Singaporean woman's post on Reddit recently sparked a discussion about filial piety and the importance of prioritising one's own well-being, after she alleged that her parents had refused to pay for her university education but still expected her to provide financial support in the future. In the post, the student claimed that her parents had announced their decision not to fund her higher education last year. What frustrated her even more was that, after she had come to terms with the situation, she noticed her parents 'bragging' about her achievements to their friends. 'I feel even more mad at the fact that they are using me as something to show off without contributing,' she wrote. The student also reflected on past experiences related to her education, recalling her father's negative reaction after she was enrolled in a tuition class during secondary school, which cost S$45 (RM149) per hour. She alleged that he verbally abused her nearly every day as a result. As a result, he has decided not to financially support her family in the future, although she expressed concern that her parents might take legal action against her under Singapore's Maintenance of Parents Act. This legislation allows parents aged 60 and above who are unable to support themselves to claim maintenance from their children, either through monthly allowances or a lump-sum payment. 'They may not be willing to put S$100,000 (RM331,654) towards my education, but I know they will be willing to put S$200,000 (RM663,354) towards a lawyer to demand maintenance from me. If you think I'm exaggerating, I really swear I am not,' she added. While she acknowledged feeling stressed about her finances during her university studies, she said she was even more anxious about dealing with her parents over the issue. The anonymous student later provided an update, saying she had got into an argument with her father after informing him of her decision not to support them financially in the future. Given her current circumstances, where she may need to continue living with her parents during her studies, she has decided to provide them with only a minimal monthly allowance — reflecting how poorly they had allegedly treated her for most of her life. Netizens expressed concern over the young woman's situation and advised her to keep her distance from her parents, especially after she has graduated. One user said that while children should appreciate their parents' efforts for raising them, noting the challenges that come with parenthood, the user acknowledged that parents should be self-sufficient with their own savings.
The Sun
21-05-2025
- General
- The Sun
SG woman's parents allegedly refuse to pay for university but expect financial support in the future
A Singaporean woman's post on Reddit recently sparked a discussion about filial piety and the importance of prioritising one's own well-being, after she alleged that her parents had refused to pay for her university education but still expected her to provide financial support in the future. In the post, the student claimed that her parents had announced their decision not to fund her higher education last year. What frustrated her even more was that, after she had come to terms with the situation, she noticed her parents 'bragging' about her achievements to their friends. 'I feel even more mad at the fact that they are using me as something to show off without contributing,' she wrote. The student also reflected on past experiences related to her education, recalling her father's negative reaction after she was enrolled in a tuition class during secondary school, which cost S$45 (RM149) per hour. She alleged that he verbally abused her nearly every day as a result. As a result, he has decided not to financially support her family in the future, although she expressed concern that her parents might take legal action against her under Singapore's Maintenance of Parents Act. This legislation allows parents aged 60 and above who are unable to support themselves to claim maintenance from their children, either through monthly allowances or a lump-sum payment. 'They may not be willing to put S$100,000 (RM331,654) towards my education, but I know they will be willing to put S$200,000 (RM663,354) towards a lawyer to demand maintenance from me. If you think I'm exaggerating, I really swear I am not,' she added. While she acknowledged feeling stressed about her finances during her university studies, she said she was even more anxious about dealing with her parents over the issue. The anonymous student later provided an update, saying she had got into an argument with her father after informing him of her decision not to support them financially in the future. Given her current circumstances, where she may need to continue living with her parents during her studies, she has decided to provide them with only a minimal monthly allowance — reflecting how poorly they had allegedly treated her for most of her life. Netizens expressed concern over the young woman's situation and advised her to keep her distance from her parents, especially after she has graduated. One user said that while children should appreciate their parents' efforts for raising them, noting the challenges that come with parenthood, the user acknowledged that parents should be self-sufficient with their own savings.
The Sun
16-05-2025
- Business
- The Sun
SC charges former London Biscuits CEO with falsifying financial statement, corporate records
KUALA LUMPUR: The Securities Commission Malaysia (SC) today charged Datuk Seri Liew Yew Chung, former executive director and group chief executive officer of London Biscuits Berhad, in the Sessions Court here for furnishing a false financial statement to the stock exchange and falsifying records of a listed corporation. Based on a statement issued by the SC, Liew faced a total of 13 charges before Sessions Court Judge Azrul Darus and pleaded not guilty to all of them. On the first charge, Liew is accused of having caused the furnishing of a false financial statement to Bursa Malaysia Securities Berhad on Aug 30, 2019, an offence under Section 369(b)(B) of the Capital Markets and Services Act (CMSA) 2007. The charge relates to a false statement concerning London Biscuits Berhad's cumulative revenue amounting to RM285,985, which was contained in the company's third quarter financial report for the period ended June 30, 2019. By virtue of his position as a director and group CEO of London Biscuits Berhad at the material time, Liew is deemed to have committed the offence under Section 367(1) of the CMSA. Liew faces a maximum sentence of 10 years imprisonment and a fine not exceeding RM3 million, upon conviction. Separately, he was also charged with 12 counts under Section 368(1)(a) of the CMSA 2007 for instructing the creation of false sales transactions in the accounting records of London Biscuits Berhad between October 2018 and March 2019. The total value of the false transactions across all 12 charges amounts to RM2,354,430. Upon conviction, each charge carries a maximum penalty of 10 years imprisonment and a fine not exceeding RM1 million. The Sessions Court allowed bail at RM300,000 with two local sureties for all 13 charges. Liew was further ordered to surrender his passport to the court and to report to the SC's investigating officer twice a month.
