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Pakistan hails 19% tariffs under US trade deal

Islamabad, Aug 1 (PTI) Pakistan on Friday announced that the US has imposed a 19 per cent tariff on its exports and termed the step as a “balanced and forward-looking” move that enhances the country’s competitiveness in the American market. The new rate is down from the previous 29 per cent tariff announced by US President Donald Trump. Welcoming the “successful conclusion” of the tariff-related discussions with the US, the Ministry of Foreign Affairs in a statement said, “As per the outcome of these talks, a tariff of 19 per cent will be applicable for Pakistani exports to the US

Gold declines Rs 400 to Rs 97,620/10 g; silver tumbles Rs 2,500

New Delhi, Aug 1 (PTI) Gold prices dipped Rs 400 to Rs 97,620 per 10 grams in the national capital on Friday due to continuous selling by stockists, according to the All India Sarafa Association. The yellow metal of 99.9 per cent purity had closed at Rs 98,020 per 10 grams in the previous market session. In the national capital, gold of 99.5 per cent purity dipped by Rs 300 to Rs 97,500 per 10 grams (inclusive of all taxes) on Friday against the preceding session’s closing level of Rs 97,800 per 10 grams. “Gold traded weak, tracking softness in

Rupee rises 12 paise to close at 87.53 against US dollar

Mumbai, Aug 1 (PTI) The rupee appreciated 12 paise to close at 87.53 (provisional) against the US dollar on Friday, on lower crude prices and suspected RBI interventions as US President Donald Trump’s sweeping new tariffs triggered fresh concerns over a much wider disruption in the global trade landscape. Forex traders said the US’ imposition of a 25 per cent tariff on Indian exports triggered risk-off sentiment and heightened concerns regarding further rupee depreciation. On Wednesday, Trump announced the 25 per cent tariff on India and an additional penalty for New Delhi’s purchases from Russia. While August 1 was the

Markets extend losses on global sell-off amid US tariff concerns; Sensex tanks 586 points

Mumbai, Aug 1 (PTI) Equity benchmark indices Sensex and Nifty declined sharply for the second straight session on Friday, tracking deep losses in metal, IT and telecom stocks amid trade-related concerns and widespread selling pressure in global markets. Besides, persistent selling by foreign investors added to the gloom, according to experts. In a volatile trade, the 30-share BSE Sensex tumbled 585.67 points or 0.72 per cent to settle at 80,599.91. During the day, it dropped 690.01 points or 0.84 per cent to 80,495.57. The 50-share NSE Nifty declined 203 points or 0.82 per cent to 24,565.35. US President Donald Trump

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