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Pakistan hikes defense budget 20% following conflict with India, but overall spending is cut

ISLAMABAD, June 11, 2025 (AP) — Pakistan Tuesday hiked defense spending by 20% following last month’s deadly conflict with India. The government of Prime Minister Shehbaz Sharif announced the increase as part of the budget for the fiscal year 2025-26, in which overall spending will be cut by 7% to 17.57 trillion rupees ($62 billion). Pakistan and India were pushed to the brink of war earlier this year after a gun massacre of tourists in Indian-controlled Kashmir, marking the biggest breakdown in relations between them since 2019. Weeks of tension followed, culminating in missile and drone strikes that resulted in

Gold rises as US-China trade deal uncertainty fuels demand

Gold, silver ETF pricing changes from April 2026 and what will be the Key impact on your investment explained with charts and analysis

June 11 (Reuters) – Gold prices rose on Wednesday as uncertainty surrounding the finalisation of a U.S.-China trade agreement weighed on sentiment and fuelled some safe-haven buying, with investors awaiting key U.S. inflation data for further market direction. Spot gold gained 0.5% to $3,339.60 an ounce, as of 0350 GMT. U.S. gold futures rose 0.5% to $3,361.20. U.S. and Chinese officials said on Tuesday they had agreed on a framework to put their trade truce back on track and remove China’s export restrictions on rare earths, while offering little sign of a durable resolution to longstanding trade differences. At the

Markets climb in early trade mirroring firm global trends, foreign fund inflows

Mumbai, Jun 11 (PTI) Equity benchmark indices Sensex and Nifty climbed in initial trade on Wednesday following a rally in global markets amid US-China trade talks optimism and foreign fund inflows. The 30-share BSE Sensex rose 118.11 points to 82,509.83 in early trade. The 50-share NSE Nifty went up by 33.3 points to 25,137.55. From the Sensex firms, Eternal, Reliance Industries, Mahindra & Mahindra, Tata Motors, NTPC and Tata Steel were among the biggest gainers. Kotak Mahindra Bank, HDFC Bank, Power Grid, Larsen & Toubro, IndusInd Bank and Axis Bank were among the laggards. In Asian markets, South Korea’s Kospi,

Rupee rises 6 paise to 85.51 against US dollar in early trade

Mumbai, Jun 11 (PTI) The Indian rupee rose 6 paise to 85.51 against the US dollar in early trade on Wednesday, aided by strong FII inflows and a decline in global crude oil prices. The rupee could move within a range of 85.40-90 during the day, with the mid-month demand coming up for oil, defence, and government payments, forex traders said. At the interbank foreign exchange, the rupee opened at 85.53 against the greenback before inching up to 85.51, higher by 6 paise from its previous close. The domestic unit rose 9 paise to settle at 85.57 on Tuesday. “The

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