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Gold price dip sparks little cheer; India buyers unmoved

MUMBAI/BENGALURU: A drop in prices spurred some interest for physical gold in major Asian hubs this week, but failed to stoke significant demand in India as buyers awaited bigger dips. In the Indian market, gold futures were trading at around 29,800 rupees per 10 grams on Friday, having fallen to the lowest since Jan. 19, at 29,638 rupees, earlier this week. “Prices have fallen but there is no rush of consumers,” said Ghanshyam Nichani, owner of Dhanraj Jewellers in Mumbai. “They are waiting for bigger falls. In the…

Govt refrains from hiking petroleum prices

ISLAMABAD: On the last day in power, the government has refrained from a massive hike in the price of petroleum products. Finance Minister Miftah Ismail said that the prime minister, on the recommendation of the ministry has decided to leave the prices of petroleum products unchanged till June 7. He said that the incoming caretaker government can decide new prices of petroleum products. "Since our govt ends today, and new prices of Petrol, Diesel and Kerosene Oil go in effect from tomorrow, therefore on Min of…

Bitcoin price jumps to two-week high after dramatic fall earlier

LONDON: Cryptocurrency prices jumped on Thursday, led by a surge in bitcoin to two-week highs, with people active in the market citing a squeeze on traders who have bet against prices, given a lack of obvious news to trigger the gains. On the Luxembourg-based Bitstamp exchange BTC=BTSP, bitcoin rose as much as 17 percent at one point in mid-morning European trading. By 1250 GMT, it was up 11 percent at $7,705, its highest level since March 29. Other cryptocurrencies like Ethereum .MVETH and Ripple .MVXRP also rose…

Milk being sold at Rs100 per litre in Karachi

KARACHI: The price of milk has reportedly increased by fifteen rupees per litre in Karachi as no progress has been made in talks between the dairy farmers and local administration, ARY News reported.  Milk is being sold at Rs100 per litre in various party of the city. This is likely to increase further woes for city dwellers who struggle to make their ends meet for the essential commodity. "People utilise milk a lot. If it is increased then how will the poor be able to afford him," a elderly citizen told ARY News. "It…

Deadlock emerges over hike in milk prices in Karachi

KARACHI: A deadlock has emerged between local authorities and dairy farm owners over the increase in milk prices, ARY News reported. The dairy farmers' attempt to raise the price of milk have remained unsuccessful due to the efforts of the local authorities.  Commissioner Karachi had earlier warned that strict action would be taken against those flouting regulations. However, representatives of Commissioner Karachi and the dairy farmers have held more than five sessions to negotiate, which have remained inconclusive…

Petrol price hiked by Rs2.98 for month of February

ISLAMABAD: The government on Wednesday increased the price of different petroleum products for the month of February, said a statement from the Ministry of Finance. The price of petrol has been increased by Rs2.98 per litre and the fuel will will now be available for Rs84.51. The price of diesel (HSD) has been increased by Rs5.92 per litre, and will now be available for Rs 95.83 as compared to earlier price of to Rs 89.91. Light Diesel Oil (LDO) has been increased by Rs 5.93 from Rs 58.37 and will now be…