Latest news with #917
Yahoo
3 days ago
- Automotive
- Yahoo
This Porsche 963 Is a One-Off Piece of History
Porsche highlighted a bespoke 917 that was converted for road-going duties earlier this year and snuck in a teaser for the now-named 963 RSP. The Porsche teaser video suggests that this 963 RSP will make its debut at Le Mans, which kicks off on June 14. Porsche has confirmed that the 963 RSP will be a lone example. You can't say Porsche was exactly subtle in its previous teaser. That said, the assumed road-going, confirmed one-off hypercar is actually happening. Porsche confirmed that this machine exists and gave it a name in a second teaser. The second teaser, which you can watch below, shows the team at Porsche working on what now know is the 963 RSP. This one-off creation is going to sport a hand-stitched interior, proper finish, and a serious attention to detail. While we still don't exactly know what the 963 RSP is going to be underneath the skin, we can make some assumptions. It will probably sport a derivative of the 963 race car's twin-turbocharged 4.6-liter V8 for motivation. It is also a safe assumption that Porsche will keep the 963's hybrid system intact. However, this bespoke 963 RSP won't be subject to any of the balance-of-performance rules that tamp down the race car's output. That means this 963 RSP could have a huge output figure. Porsche has also basically confirmed that we're all going to see this one-off car show its face at this year's 24 Hours of Le Mans. Of course, the price, and would-be customer haven't been disclosed, but it's safe to assume that if this leaves Porsche's stewardship, it will cost a small fortune. Do you think Porsche is building this for a customer? Tell us your thoughts below.
Business Recorder
13-05-2025
- Business
- Business Recorder
Gold sees gigantic loss
KARACHI: Gold saw a gigantic loss on Monday with global market crushing below $3,250 per ounce, traders said. Local market suffered one of the biggest single day falls, amounting by Rs10, 400 per tola and Rs8,917 per 10 grams due to the global bullion slumped by $104, receding to $3,221 per ounce. This huge plunge dragged down the gold prices to Rs340,500 per tola and Rs291,923 per 10 grams, according to All Pakistan Sarafa Gems and Jewelers Association Domestic silver prices registered a slight drop by Rs17 and Rs15, going down to Rs3,400 per tola and Rs2,914 per 10 grams, respectively with world market trading the white metal at just over $32 per ounce, the association added. It is important to mention that the open market may trade gold and silver at different prices as compared to those fixed by the association. Copyright Business Recorder, 2025
Express Tribune
12-05-2025
- Business
- Express Tribune
Gold plunges following US-China truce
Gold prices in Pakistan maintained a downward trajectory with a massive fall on Monday, mirroring a sharp drop in the international market as risk sentiment crept in following the announcement of a temporary deal between the United States and China to reduce tariffs. In the local bullion market, the price of gold per tola dropped by Rs10,400 to settle at Rs340,500, according to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA). The 10-gram gold rate also declined by Rs8,917, closing at Rs291,923. The downtrend followed a similar fall on Friday when the price per tola had dipped by Rs1,800, ending the week at Rs350,900. Before this, the yellow metal nosedived Rs1,170/tola on April 23, 2025. Globally, the safe-haven asset fell more than 2% on Monday as risk sentiment crept in following the announcement of a temporary deal between the United States and China to reduce tariffs, according to Reuters. Spot gold was down 2.6% at $3,237.04 an ounce. Bullion, considered a hedge against economic and geopolitical turmoil, hit a record high of $3,500.05 last month amid increased tariff uncertainty. US gold futures shed 3.1% to $3,241.70. Adnan Agar, Director at Interactive Commodities, attributed the decline to improved trade sentiment between the US and China. "Gold opened lower today, marking a low of $3,207 before stabilising around $3,236. This drop is largely due to progress in US-China negotiations, where both sides agreed to suspend 90% of tariffs for a 90-day period," he said. Agar added that gold faced key support levels at $3,200 and $3,180. "If prices fall below $3,180, we could see further downside. For now, the market remains weak and volatile as investors await further cues from ongoing talks," he noted. Meanwhile, the Pakistani rupee posted a marginal gain against the US dollar on Monday, appreciating by 0.05% in the inter-bank market. According to the State Bank of Pakistan (SBP), the rupee closed at 281.57 against the greenback, strengthening by Rs0.14 compared to the previous session. Last week, however, the local currency had weakened by Rs0.65 or 0.23% to close at Rs281.71, down from Rs281.06 a week earlier. Moreover, as of March 2025, Pakistan's central government debt rose to Rs73.7 trillion, marking a 0.9% increase month-on-month (Rs652 billion) and a 12.7% rise year-on-year. The domestic portion of the debt stood at Rs51.5 trillion, up 18.6% YoY, driven largely by long-term borrowings, particularly federal government bonds which surged 28.8% YoY to Rs39.7 trillion, according to AHL. Permanent debt rose to Rs40.6 trillion, while short-term debt declined by 2.3% to Rs7.8 trillion. Unfunded debt also saw a slight decrease and investments in Naya Pakistan Certificates dropped sharply by 33.2% YoY. Meanwhile, external debt increased marginally to Rs22.2 trillion, up 1% YoY.
Express Tribune
12-05-2025
- Business
- Express Tribune
Gold prices drop by Rs10,400 per tola in Pakistan
Listen to article Gold prices declined significantly in both Pakistani and international markets amid global fluctuations on Monday, Express News reported. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola dropped by Rs10,400, settling at Rs340,500. The price of 10-gram gold also fell by Rs8,917, reaching Rs291,923. The latest drop comes after gold lost Rs1,800 per tola on Friday, when it had closed at Rs350,900. In global markets, gold fell by $104 during the day, with the international rate standing at $3,221 per ounce, including a $20 premium, APGJSA reported. Silver also saw a modest decline, with the price per tola shedding Rs17 to close at Rs3,400. Jewellers noted that fluctuations in global demand, currency volatility, and investor caution were contributing to market uncertainty.
Forbes
26-04-2025
- Automotive
- Forbes
Did Porsche Just Tease Street-Legal Version Of Its 963 Le Mans Racer?
GOTEMBA, JAPAN - SEPTEMBER 13: The #06 Porsche Penske Motorsport, Porsche 963 of Kevin Estre, Andre ... More Lotterer, and Laurens Vanthoor in action during practice at the Six Hours of Fuji on September 13, 2024 in Gotemba, Japan. (Photo by James) Converting race cars for road use is nothing new, and in decades gone by was especially common among closed-wheel endurance racers that compete at events like Le Mans. It isn't unusual to see GT racers from the 1950s and 60s used on the public road, and even more modern machines from the end of 1990s, like the McLaren F1 GTR, can be converted to meet street safety laws, usually by way of fitting turn signals, wipers, treated tires and license plates. Porsche reminded us all this week how a 1975 example of its legendary 917 race car was made road legal, complete with a tan leather interior commissioned from Hermès, a suede roof lining, and Alabama license plates. Featured in the video below, the car was originally owned by Italian businessman and Martini heir Gregorio Rossi di Montelera (better known simply as Count Rossi). In recent years it has been enjoyed by its France-based owner and is occasionally spotted on the streets of central London. Bringing this car to attention isn't particularly unusual. Porsche has an extensive heritage collection and frequently covers its history on the pages of its own Newsroom website. But a short video showcasing the street-legal 917, published on 25 April, ended with a shock. It closes with the words 'What if?', followed by a close-up shot of the drive mode selector of Porsche's current endurance racer, the 963, and a brief glimpse of that car, side-on, and covered by shadow. The snapshot of the car is enough to identify it as the 963, but it's not possible to see whether it's wearing license plates or street-legal tires. Conveniently, it's also impossible to tell whether the car's sharp front and rear aero structures – extremely unlikely to pass any pedestrian safety test or make their way onto a street-legal car – are still present, or have been toned down. The video also states 'June 2025', which is the month in which the 24 Hours of Le Mans takes place. Perhaps this is also when Porsche will share more about what on Earth is going on here. Porsche hasn't produced a roadgoing hypercar since the 918 Spyder back in 2014. That car sparred with the LaFerrari and McLaren P1, but a followup to compete with the new Ferrari F80 and McLaren W1 is yet to materialize. Porsche had previously suggested its next hypercar would be a production version of the electric Mission X, but little has been said about that car since it was revealed in 2023. Porsche video shows a side profile of its 963 racer While rivals like Ferrari, McLaren, Lamborghini, Bugatti and Aston Martin have all produced limited-run, high-priced, track-only hypercars for their most loyal customers, Porsche has sat on the sidelines. Those cars, like the McLaren Solus GT, Bugatti Bolide, Aston Martin Valkyrie and various members of Ferrari's FXX programme have all relieved millions of dollars from the pockets of billionaire gear-heads, Porsche has lacked a true hypercar, street-legal or otherwise. Will this year's Le Mans see Porsche reveal a version of its endurance racer available to the public? Perhaps a (slightly) toned down evolution of the 963, in the same vein as the track-only Ferrari's 499P Modificata? Porsche teased the idea of a street-legal variant of its all-conquering 919 race car a few years ago, called the 919 Street. That never materialized, but perhaps now Porsche has a plan for sharing its endurance racing successes with its most loyal, and wealthy, customers.
