Category: 3. Business

  • Automobile prices surge after budgetary levies – Business

    Automobile prices surge after budgetary levies – Business

    KARACHI: Following the imposition of a carbon levy and an increase in sales tax under the federal budget 2025-26, several automobile assemblers have begun passing the impact on to consumers from July 1, while others are either absorbing the additional cost or delaying price revisions until after Ashura.

    An official at MG Pakistan stated the company would absorb the price hike despite the new levy. The assembler of Haval vehicles has also decided to maintain prices at previous levels.

    The carbon levy or NEV adoption levy is charged at 1pc on engines below 1300cc, 2pc on engines between 1300cc and 1800cc, and 3pc on engines above 1800cc, applied on the invoice price, including duty and taxes.

    Pak Suzuki Motor Company Ltd (PSMCL) has raised prices across its lineup by Rs18,810 to Rs186,000. The Alto VXR, VXL, and AGS now cost Rs2.994m, Rs3.166m, and Rs3.326m, reflecting increases of Rs167,861, Rs177,480, and Rs186,446, respectively.

    In the upgraded Suzuki Cultus range, the VXR, VXL, and AGS models are now priced at Rs4.089m, Rs4.359m, and Rs4.591m, up by Rs40,490, Rs43,160, and Rs45,460, respectively.

    The Suzuki Swift GL MT, GL CVT, and GLX CVT now retail at Rs4.460m, Rs4.605m, and Rs4.766m, compared to Rs4.416m, Rs4.560m, and Rs4.719m earlier.

    Assemblers increase vehicle prices by up to Rs700,000 following carbon levy and higher GST

    Suzuki Every VX and VXR posted price increases of Rs163,230 and Rs166,200, reaching Rs2.912m and Rs2.965m, respectively. Ravi pickup and its without-deck variant now cost Rs1.975m and Rs1.899m, up by Rs19,560 and Rs18,810. PSMCL clarified that the revised prices include FED, sales tax, and carbon levy but exclude advance income tax.

    Citing rupee depreciation, rising international freight charges, and the carbon levy, Lucky Motor Corporation increased prices of various KIA models from Rs95,000 to Rs700,000. The Picanto AT, Stonic EX Plus, and EX now sell at Rs4.090m, Rs5.999m, and Rs4.862m after respective increases of Rs150,000, Rs499,000, and Rs95,000.

    The Sportage L Alpha, L FWD, and L HEV have seen hikes of Rs400,000 to Rs600,000, now priced at Rs8.899m, Rs10.499m, and Rs11.599m. The Sorento 3.5L V6 now costs Rs13.899m, up by Rs400,000, while its other variants—3.5L V6 EMI, HEV FWD, HEV AWD EMI, HEV AWD, and HEV AWD EMI—range from Rs14.399m to Rs17.199m, marking increases of Rs400,000 to Rs700,000. The Kia Carnival is now priced at Rs18.2m, up by Rs700,000.

    However, LMC has kept the prices of its electric vehicles—V5 Air, EV5 Earth, and EV9—unchanged at Rs18.5m, Rs23.5m, and Rs43.2m, respectively.

    Atlas Honda Ltd (AHL) has raised the prices of various motorcycles by Rs2,000 to Rs6,000. Its flagship models, the Honda CD 70 and CG-125, now cost Rs159,900 and Rs238,900, respectively.

    United Auto Industries has also revised up the prices of several two-wheeler models following the imposition of 18pc GST and the NEV levy. The US-70cc (standard), Self Start, Alloy Rim, and Alloy Rim with Self Start models are now priced at Rs111,000, Rs122,000, Rs121,000, and Rs132,000, compared to Rs93,182, Rs102,411, Rs101,572, and Rs110,801 previously.

    Car and bike parts imports surge

    Despite the price hikes, bike and two-wheeler sales are expected to remain firm in the coming months, supported by a rising trend in parts and accessories imports by assemblers.

    According to the Pakistan Bureau of Statistics (PBS), the import bill for semi- and completely knocked-down kits by car assemblers rose by 41pc to $950m during July–May FY25, from $676m in the same period last year. Imports of two-wheeler parts increased by 16.5pc to $43m from $37m during 11MFY24.

    According to Large-Scale Manufacturing data, bike production surged by 34pc to 1.362m units in July–April FY25, from 1.013m units in the same period last year.

    Mohammad Sabir Sheikh, a bike sector analyst, rul­ed out any adverse impact on sales following the carbon levy. He noted that demand has remained strong since January, with many buyers opting to replace old­er mot­orcycles—typically over five years old—with new models.

    Atlas Honda Ltd achieved record monthly production and sales of 130,189 and 130,240 units, respectively, in May 2025.

    Published in Dawn, July 5th, 2025

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  • Super funds demand answers from for-profit childcare operator where children were allegedly sexually abused – The Guardian

    1. Super funds demand answers from for-profit childcare operator where children were allegedly sexually abused  The Guardian
    2. Why Evolution Mining, G8 Education, Lottery Corp, and Lynas shares are tumbling today  The Motley Fool Australia
    3. Childcare operator’s major shareholder seeks details as share slide continues  The Age
    4. G8 Education Target Price Slashed After Abuse Charges  Sharecafe
    5. $120m wiped out in childcare horror show  Yahoo

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  • China’s Trade Collapse Sparks a New Asian Power Shift–Investors Are Watching Closely

    China’s Trade Collapse Sparks a New Asian Power Shift–Investors Are Watching Closely

    China’s grip on U.S. imports just hit a new low. According to the latest U.S. Census Bureau data, China’s share of total U.S. imports dropped to 7.1% in Maythe weakest showing since 2001. That’s down 4.3 percentage points from the same time last year and less than half the 14.8% peak reached in September 2024, before Donald Trump reentered the White House and doubled down on tariffs. While this trend has been building since Trump’s first term, it appears to be picking up speedand investors are watching where that demand is now heading.

    One answer? Taiwan. Its share of U.S. goods imports has nearly doubled in a year, reaching close to 6%just 1.2 percentage points behind China. That rise is no coincidence. AI demand is still red hot, and Taiwan’s dominance in semiconductor manufacturing puts it at the center of that boom. Companies like Taiwan Semiconductor Manufacturing (NYSE:TSM) could be quietly gaining even more strategic importance as supply chains reroute away from the mainland.

    Vietnam’s also moving up the ladder. Matching Taiwan’s near-6% import share, Vietnam is benefiting from a mix of locally made products and rerouted Chinese goods. But the story isn’t all upside. Earlier this week, the U.S. slapped a 40% tariff on certain Vietnam-origin products tied to Chinese componentsintroducing a new layer of friction. For investors, this trade reshuffling could signal opportunity in the region’s manufacturing hubsbut it comes with complexity that can’t be ignored.

    This article first appeared on GuruFocus.

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  • Marcelo Bacci -  Executive Vice-president – Finance and Investor Relations

    Marcelo Bacci is Vale’s Executive Vice-president – Finance and Investor Relations (CFO).  

    Mr. Bacci has relevant executive experience in management and finance, including over 20 years in leadership positions in companies with different compositions and segments. 
    For the last 10 years, he was the Executive Vice-president of Finance and Investor Relations at Suzano S.A., where he had an outstanding performance. 

    He also served as Chairman and member of the Board of Directors of companies in the Suzano Group and other companies in the Brazilian market, such as Energisa S.A. and BRF S.A. 

    He holds a degree in Public Administration from Fundação Getulio Vargas, and MBA degrees from Stanford Graduate School of Business and IBMEC – Brazilian Capital Market Institute. 

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  • Senior official urges boosting sci-tech, industrial innovation toward high-quality development

    Senior official urges boosting sci-tech, industrial innovation toward high-quality development

    HEFEI, July 4 — Senior Chinese official Wang Xiaohong has urged efforts to adhere to the new development philosophy, effectively boost sci-tech and industrial innovation, and achieve new results in the country’s high-quality development.

    Wang, a member of the Secretariat of the Communist Party of China Central Committee and state councilor, made the remarks during an investigation and research tour in east China’s Anhui Province between Thursday and Friday.

    During the tour, Wang urged efforts to transform and upgrade traditional industries while fostering and expanding emerging industries, and continuously enhance the capability of original innovation.

    He also stressed the need to actively develop the low-altitude economy on a safe and secure basis, devise more beneficial policies for the people and enterprises, and ensure law enforcement is carried out in a strict, procedure-based, impartial, and civilized manner.

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  • Carlos Medeiros -  Executive Vice President – Operations

    Carlos Medeiros is a senior executive with a distinguished international career and the proven ability to lead large transformation projects. As Executive Vice President of Operations, he oversees Vale’s mining, pellet production and logistics operations. 
     
    His deep knowledge in lean manufacturing, aimed at process optimization and continuous enhancement of productivity and quality, is instrumental in bolstering the safety and operational efficiency at Vale. His appointment therefore reflects Vale’s commitment to following the best globally recognized operational standards. 
     
    He holds a bachelor’s degree in mechanical and aeronautical engineering from the Aeronautical Technology Institute (ITA)  in Brazil and a master’s degree in marketing from the Higher Education School of Advertising and Marketing (ESPM), also in Brazil. Furthering his education, he completed the Senior Executive Program at Stanford University, the MIT xPro COO Program at the Massachusetts Institute of Technology (MIT),  and a specialized manufacturing program at Cranfield University (UK). 

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  • Rupee loses 10 paisa against US Dollar

    Rupee loses 10 paisa against US Dollar





    Rupee loses 10 paisa against US Dollar – Daily Times

































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  • Rebuilding global coffee stocks may need at least two good crops, experts say – Reuters

    1. Rebuilding global coffee stocks may need at least two good crops, experts say  Reuters
    2. Flat white nation: How Ireland’s coffee obsession grew — and why the beans may be running out  Irish Examiner
    3. Coffee crisis: What will it take to close the looming ‘massive’ supply-demand imbalance?  FoodNavigator-USA.com
    4. Global coffee supply relief possible in three years, ICO head says  Reuters

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  • OPEC+ Considers Accelerating Oil Production More Than Expected

    OPEC+ Considers Accelerating Oil Production More Than Expected

    (Bloomberg) — OPEC+ is considering accelerating its oil production revival even more rapidly than expected during a virtual meeting on Saturday, delegates said.

    Most Read from Bloomberg

    Saudi Arabia has guided the Organization of the Petroleum Exporting Countries to increase supplies by 411,000 barrels a day over the past three months, and the group is now weighing an even bigger boost in August.

    The assertive strategy — allowing the group to reclaim market share from non-OPEC+ producers — comes despite the risk of a global oversupply that could further pressure prices. Oil’s recent decline offers a win for President Donald Trump, who sees lower prices as a way to ease costs for inflation-hit consumers.

    Eight key alliance members are now weighing a boost of over 500,000 barrels per day, according to one delegate. That would allow OPEC+ to complete the return of 2.2 million barrels a day of previously halted output by September — earlier than originally planned, another said. They requested anonymity as the discussions are private.

    Brent futures hovered near $68 a barrel in London on Friday, down 13% over the past two weeks. A shift from open conflict between Israel and oil heavyweight Iran to a fragile truce has left Middle Eastern energy exports largely unaffected.

    “With OPEC+ having pivoted to a market share over a price defence strategy, it may be pointless to keep a notional voluntary cut in place,” said Harry Tchilinguirian, group head of research at Onyx Capital Group. “It could be best to get it over faster, and simply move on.”

    Since April, OPEC and its partners have pivoted from years of output restraint to reopening the taps, surprising crude traders and raising questions about the group’s long-term strategy. Saturday’s video conference was moved up by a day for scheduling reasons.

    Delegates cited a range of motivations for the shift: accommodating peak summer fuel demand, curbing overproduction by some members, and clawing back market share from rivals like U.S. shale producers. Officials say Riyadh is especially eager to restart idled output as quickly as possible.

    The additional barrels may be welcomed by President Trump, who has consistently pushed for lower oil prices to support the U.S. economy and tame inflation, while pressuring the Federal Reserve to reduce interest rates.

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  • Deal struck over fuel deliveries at UK’s Lindsey Oil Refinery

    Deal struck over fuel deliveries at UK’s Lindsey Oil Refinery

    BBC A drone view of the Prax Lindsey Oil Refinery. A cluster of metal structures rising to the blue sky.BBC

    The Department for Energy Security and Net Zero said an agreement had now been reached to resume deliveries in and out of the refinery

    A deal has been reached to ensure supplies of crude oil to a refinery after its owner went into administration.

    Prax Lindsey Oil Refinery Limited, which owns the plant in Immingham, North East Lincolnshire, filed for insolvency on Sunday, putting hundreds of jobs at risk.

    The Department for Energy Security and Net Zero (DESNZ) said an agreement had now been reached to resume deliveries in and out of the refinery.

    The BBC understands crude oil stocks already held at the site have been bought with taxpayers’ money to allow the refinery to keep operating.

    Earlier this week, the Reuters news agency reported the government was in talks with commodities trader Glencore over the status of its supply and offtake contract with the refinery.

    In a statement on Friday, a spokesperson for DESNZ said: “An agreement has been reached to resume deliveries in and out of the Prax Lindsey Oil Refinery. The official receiver is ensuring continued safe operations at the site.

    “The UK is well supplied with fuel – the site is right next door to one of the biggest and most efficient refineries in the country, and stock levels are normal across the UK.”

    Prax Group, which is led by chairman and chief executive Sanjeev Kumar Soosaipillai, purchased Lindsey Oil Refinery from French company Total in 2021. The company’s financial reports indicated the plant recorded losses of about £75m between the takeover and February 2024.

    There are 420 employees at the refinery, though Unite the Union said 1,000 jobs could be affected when taking into account contractors and the supply chain.

    Getty Images A metal structure in the background with a board on the left reading: 'PRAX. Lindsey Oil Refinery. Main Entrance'. There is a union jack flag on the left between two green flags with PRAX written.Getty Images

    Prax Group bought the refinery from Total in 2021

    Speaking in the Commons on Monday, Michael Shanks, the energy minister, said workers had been “badly let down” and the government was demanding “an immediate investigation into the conduct of the directors and the circumstances surrounding this insolvency”.

    Shanks also said the government was actively looking for a buyer for the business and, if that failed, other potential uses for the site.

    According to the government, Lindsey is the smallest of the UK’s oil refineries producing fuel. It is located next to the Phillips 66 Humber refinery, which is the dominant fuel supplier in the region and continues to operate at profit.

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