Latest news with #200
TimesLIVE
16 hours ago
- Business
- TimesLIVE
How an opportunity in defence could make flying taxis a reality
Opportunities in defence, emergency healthcare and cargo could help make flying taxis a reality in the next few years after the sector recently received backing from US President Donald Trump's administration, executives in the industry said at the Paris Airshow. Trump this month told regulators to speed up certification to accelerate the development of electric vertical take-off and landing aircraft (eVTOLs), aiming to secure a US lead over Asia in the technology. The executive order gave fresh impetus to an industry that has struggled to win over critics and regulators. "We take a lot of spears, people are like 'batteries are too heavy'," Kyle Clark, founder and chief executive of Beta Technologies, said at the show. "But the reality is, if you put the airplanes in the right places, the benefits are real." Flying taxis - seen in predictions of the future for decades - need to shake off the idea that they are only for the rich to become viable at scale. Their manufacturers said emergency medical services, cargo and defence could help, where they offer a cheaper and quieter alternative to helicopters in areas from passenger and goods transport to rescue missions. BETA, Joby Aviation and Archer Aviation are in the US air force agility prime programme, which aims to develop technologies for autonomous cargo and hybrid-electric aircraft. Joby and Archer have previously signed military contracts worth $131m (R2,357,768,942) and up to $142m (R2,555,943,200), respectively. "We have two aircraft at Edwards air force base, and we are grateful for all the support an learning out of that," said Joby Aviation's founder and CEO JoeBen Bevirt. "We think there are incredible opportunities on the defence side." Clark, who flew Beta's conventional takeoff and landing aircraft in Paris, said the company had a clear position in defence: reliable aircraft that showed up to every mission.
GMA Network
21 hours ago
- GMA Network
Unclaimed parcels from abroad with P16M worth of illegal drugs seized by BOC
The Bureau of Customs (BOC) has seized several inbound parcels containing illegal drugs worth more than P16 million pesos at the at the Central Mail Exchange Center (CMEC). According to a statement released on Friday, "One parcel from the United States contained 240 grams of marijuana, or 'kush,' another from Thailand with 618 grams of kush, while a parcel from Poland hid five plastic bags of ketamine inside a coffee maker." The BOC said that no one claimed the subject parcels within the 30-day reglementary period and were "deemed impliedly abandoned." "The subject parcels underwent x-ray scanning, where suspicious images were detected, prompting a physical examination. During the inspection, authorities uncovered the illegal substances hidden within the packages," the BOC said. The BOC said that the operation yielded a total of Php16,326,200 worth of illegal drugs. The subject parcels were then turned over to the Philippine Drug Enforcement Agency (PDEA) on June 19, 2025, for proper disposition and laboratory examination, including case building against possible suspects. These operations reflect our commitment to proactive enforcement and coordination with our law enforcement counterparts in stopping illegal drugs at the border,' said District Collector Yasmin O. Mapa. —VAL, GMA Integrated News
Business Recorder
2 days ago
- Business
- Business Recorder
PKI for establishing transparent pricing mechanism
ISLAMABAD: As Pakistan's agriculture sector faces one of its worst downturns in recent years, the Pakistan Kissan Ittehad (PKI) has called on the government to establish a transparent pricing mechanism and create an Agri Export Authority (AEA) to stabilise local markets and ensure food security. PKI President Khalid Mahmood Khokhar urged the federal government to form an Agriculture Commodities Price Commission (ACPC) that guarantees a minimum 25 percent Return on Investment (ROI) to farmers. He said that the move is vital for addressing the growing imbalance between domestic supply and demand while also creating incentives for future agricultural growth. In order to ensure stability in local markets and promote sustainable marketing operations, the creation of an AEA is inevitable, Khokhar said. He added that such an authority would help manage surplus production, balance domestic prices, and pave the way for consistent export strategies. He also called for the immediate abolition of the 18 percent GST on seed cotton, as well as the removal of the 14 percent GST on tractors and 18 percent on tractor-mounted implements, to encourage mechanised farming and improve productivity. Furthermore, Khokhar demanded a uniform electricity tariff of Rs10 per unit for irrigation tube wells to ease farmers' costs. Highlighting the gravity of the situation, he noted that the agriculture sector's growth contracted sharply by 5.84 percent in the last year, dropping from 6.4 percent to just 0.56 percent, while the production of major crops declined by 13.49 percent compared to the previous year. Cotton production fell drastically to 5.55 million bales, 50 percent below the target and 34 percent lower than last year, causing the cotton import bill to surge to an expected $4.45 billion 178 percent higher than last year's $1.6 billion. Wheat output also dropped by 8.91 percent to 28.98 million tons, representing an opportunity loss of approximately Rs250 billion in the international market, while maize production declined by 15.4 percent to 8.24 million tons, and sugarcane production decreased to 84.24 million tons from 87.64 million tons. Khokhar further pointed out that maize farmers are facing a severe crisis due to a sharp fall in market prices, with rates plunging by Rs1,200 per 40kg within a month following the arrival of fresh crops. Despite these alarming trends, the Punjab government's agriculture budget for the financial year 2025-26 increased only marginally by 10.75 percent to Rs129.8 billion, which Khokhar described as a token increment insufficient to tackle the multi-thousand-billion-rupee crisis facing the sector. He warned that such inadequate measures fail to address the depth of the problem and urged immediate structural reforms to safeguard farmers' livelihoods and ensure long-term food security for the country. Copyright Business Recorder, 2025
Express Tribune
2 days ago
- Business
- Express Tribune
Agri-budget fails to match damage
Listen to article Agricultural experts and farmer representatives have urged both federal and provincial governments to implement immediate and concrete measures to rescue Pakistan's struggling farming sector. Among the proposed measures are the establishment of an Agriculture Commodities Price Commission (ACPC) to guarantee farmers a minimum 25% return on investment, the formation of an Agriculture Export Authority (AEA) to stabilise local prices and boost exports, abolishment of the 18% GST on seed cotton, removal of GST on tractors and implements, and the setting of a uniform electricity tariff of Rs10 per unit for irrigation tube-wells. Representatives said recent data reveals the sector is in freefall, while provincial budget allocations have been widely condemned as grossly inadequate. The scale of the crisis is staggering. Pakistan's agricultural sector contracted by 5.84% in just one year. Major crop production shrank by over 13%, with wheat production dropping 8.91% to 28.98 million tonnes in 2025. Farmers have endured massive cumulative losses of Rs2,200 billion on wheat alone between May 2024 and May 2025. Cotton production fell to 5.55 million bales — 50% below target and 34% lower than last year — forcing a projected import bill of $4.45 billion, a 178% increase that severely strains foreign reserves. Maize production declined by 15.4%, and sugarcane fell to 84.24 million tonnes from 87.64 million tonnes. The collapse extends beyond production. Agricultural export performance also deteriorated alarmingly in 2024-25. Maize exports dropped 86% to just $58.9 million. Rice exports fell 15% to $3.3 billion. Onion exports dropped 48%, mangoes by 16%, and potatoes by nearly 4%. The downturn reflects deeper structural issues, including declining productivity and a critical lack of support for export infrastructure, quality control, and supply chainsthreatening Pakistan's trade balance and economic stability. In this context, the Punjab government's 2025-26 budget allocation of Rs129.8 billion for agriculture — only Rs12 billion (10.75%) more than last year's Rs117.2 billion — has been met with disbelief and anger. Farmer leaders argue this token increment fails to address a crisis involving multi-trillion-rupee losses. "Allocating only Rs129.8 billion for agriculture in the face of Rs2,200 billion in wheat losses alone is not just inadequate — it's an insult to the farming community," said Khalid Khokhar, President of the Pakistan Kissan Ittehad. "It demonstrates a complete failure to grasp the existential threat facing our food security and rural economy. This budget offers Band-Aids for bullet wounds." Adding to the frustration is the Punjab government's proposal to tax agricultural income by aligning tax slabs with those for established businesses. Critics see this move as dangerously disconnected from the realities on the ground. Small and medium-scale farmers, already reeling from plummeting commodity prices, crop failures, climate stress, and water shortages, view the measure as an unbearable additional burden. "How can they even think of taxing us now?" asked Muhammad Aslam, a wheat and cotton grower from Bahawalpur. "Last year's wheat crop drowned me in debt, cotton failed, and now maize prices have crashed. I sold my wife's jewellery just to buy seeds and urea for the next season." Agricultural economist Dr Fahd Ali described the proposal to tax agricultural income amid this unprecedented financial haemorrhage in the farming sector as "economically illiterate and socially risky." He said it ignores the inherent volatility and risk in agriculture compared to corporate sectors. "This risks accelerating disinvestment, deepening rural poverty, and triggering social unrest," he warned. Signs of severe financial strain among farmers are already apparent. According to Khokhar, sharp declines in the use of essential fertilisers like urea and DAP, coupled with plummeting tractor sales, indicate that farmers simply cannot afford the critical inputs needed for the current Kharif season. "This directly threatens yields, especially for high-risk crops like cotton, and raises fears of severely reduced wheat sowing in the upcoming Rabi season, potentially pushing the country towards a food security emergency. The situation fuels warnings of mass rural migration and widespread protests," he added. Agriculture experts and stakeholders overwhelmingly believe that the gap between the scale of the crisis and the government's policy response is astounding. Farmers, they warn, are being pushed to the brink. Ignoring their plight and the foundational role of agriculture is a recipe for national instability. The implementation of the recommended measures — beginning with immediate tax relief on key inputs and the establishment of price and export regulatory bodies — is now seen as critical to averting a full-blown agricultural and social catastrophe.
Hans India
3 days ago
- Business
- Hans India
Gold falls Rs 1,200, silver up by Rs 100
New Delhi: Gold prices declined by Rs1,200 to Rs1,00,170 per 10 grams in the national capital on Tuesday due to continuous selling by jewellers and stockists in line with weak global trends, according to the All India Sarafa precious metal of 99.9 per cent purity had closed at Rs1,01,370 per 10 grams in the previous market session. Gold of 99.5 per cent purity dipped below the Rs1 lakh mark, by falling Rs1,100 to Rs99,450 per 10 grams. It had settled at Rs1,00,550 per 10 grams on Monday. "Gold corrected further as traders reevaluated the likelihood of a full-scale regional war between Israel and Iran. This shift follows reports suggesting that Iran is actively pursuing a diplomatic resolution to its escalating conflict with Israel. "The potential for a fragile truce has fostered a bearish sentiment among gold traders," Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said. However, silver prices went up by Rs100 to Rs1,07,200 per kilogram on Tuesday. The white metal had ended at Rs1,07,100 per kg in the previous market close. Globally, spot gold was trading lower at $3,380.65 per ounce. Meanwhile, spot silver went up 0.44 per cent to $36.47 per ounce in the international markets.
