Business
Gold extends losses, drops by Rs2,100 | The Express Tribune
KARACHI:
Gold prices in Pakistan extended losses on Tuesday, tracking mixed global cues as investors weighed geopolitical risks and monetary policy outlook, while the local market remained under pressure.
According to the All-Pakistan Gems and Jewellers Sarafa Association, the price of gold per tola fell by Rs2,100 to settle at Rs477,862. Similarly, the price of 10 grams declined by Rs1,801 to Rs409,689. Silver prices also moved lower, dropping Rs65 to Rs7,849 per tola. In contrast, international gold prices edged higher after hitting a more than one-month low in the previous session. Spot gold rose 1.2% to $4,574.17 per ounce by 11:42 am EDT, according to Reuters, as markets assessed a fragile ceasefire in the Middle East and its potential implications for inflation and interest rates.
Market participants remain cautious amid geopolitical uncertainty. The United States indicated that a ceasefire with Iran largely holds despite sporadic exchanges of fire, offering some temporary relief to markets. However, concerns persist over a broader escalation.
Adnan Agar, Director at Interactive Commodities, noted that gold touched a high of $4,586 and a low of $4,513, with the market later hovering around $4,557. He said the overall trend remains weak, adding that unless prices reclaim and sustain above the $4,650-4,700 range, bearish sentiment is likely to persist.
Agar highlighted strong support between $4,400 and $4,450, suggesting a potential retest of these levels before any meaningful recovery. He added that further escalation in US-Iran tensions could trigger additional downside before a rebound emerges.
Meanwhile, the Pakistani rupee strengthened slightly by Rs0.01 to settle at 278.75 against the US dollar.
Business
Ads for British beef and milk banned following Chris Packham complaint
Two ads promoting British beef and milk have been banned after television presenter and environmental campaigner Chris Packham complained that they misled consumers about the products’ carbon footprints.
Both ads for the Agriculture and Horticulture Development Board’s (AHDB) Let’s Eat Balanced campaign used the carbon footprint of British beef and milk to promote the products, firstly stating: “British beef not only tastes great, but has a carbon footprint that’s half the global average*.”
The asterisk linked to text that stated: “Full lifecycle emissions of CO2 eq (carbon dioxide equivalent) per kg of beef.”
The ad for milk stated: “British milk not only tastes good, but is also produced to world-class standards, and has a carbon footprint a third lower than the global average.”
Packham complained to the Advertising Standards Authority (ASA) that the ads, and specifically the carbon footprint claims, were misleading as they did not reflect the full environmental impact of British meat and dairy.
The AHDB said the ads’ mention of carbon emissions would be understood in relation to the environmental impact of beef and milk that occurred between the “cradle-to-retail” stages.
But the ASA said the average consumer “being reasonably well-informed, observant and circumspect” would understand the claims to apply beyond the retail stage and include actions such as cooking and wastage.
The ASA said: “While we acknowledged the potential difficulties in producing post-retail emissions data, the claims in the ads suggested those emissions were included and we therefore expected the evidence provided to also include them.
“We therefore concluded that the evidence presented was insufficient to support the full life-cycle claims in the ads, which was how the average consumer was likely to interpret them.
“We reminded AHDB that environmental claims should be based on the full life cycle unless the ad stated otherwise.”
AHDB’s director of communications and market development, Will Jackson, said: “Let’s Eat Balanced is doing what it was designed to do, providing clear, factual, evidence-led information about British food, nutrition and farming standards.
“Since the investigation began, we have conducted independent consumer research which found that the majority of respondents interpreted these adverts as relating to the production phase only, from farm to retail.
“This research provides important insight into consumer understanding and supports our belief that consumers were not misled by the information we shared in these two specific adverts.”
Business
Gen Z pros embrace ‘portfolio careers’ as side hustles surge – The Times of India
BENGALURU: India’s Gen Z workforce is embracing what experts describe as “portfolio careers” – balancing multiple professional identities and income streams simultaneously. New research from LinkedIn shows that 75% of Gen Z entrepreneurs in India now manage multiple income streams, significantly higher than the 62% among Gen X entrepreneurs. The findings point to a growing preference among younger professionals for flexibility, autonomy and diversified sources of income. “We’re also seeing the rise of the ‘portfolio era’, with more professionals creating multiple income streams and redefining what a career can look like. This shift is making entrepreneurship more accessible than ever before,” said LinkedIn India country manager Kumaresh Pattabiraman.Rather than depending on a single full-time role, many professionals are simultaneously building businesses, freelancing, consulting, creating online content and monetising specialised skills through digital platforms. The trend comes amid a broader rise in entrepreneurial activity in India. LinkedIn recorded a 104% year-on-year increase in members adding “Founder” to their profiles – the highest growth among all global markets.AI is also emerging as a major enabler of this shift. The report found that 85% of Gen Z entrepreneurs consider AI and digital tools important to their business operations.
Business
Elon Musk said control of OpenAI should go to his children, Sam Altman tells jury
Sam Altman said Elon Musk tried many times for total control of OpenAI, which he’s now suing.
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