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Results for “Purchase” (29)

Hafsa Mustafa Posted in World

India signs deal with US to buy Javelin anti-tank missile systems

The Indian army has signed an agreement with the United States to purchase Javelin anti-tank missile systems, the US embassy in India said on Friday, without disclosing the value of the deal. The medium-range guided missile system, jointly produced by Lockheed Martin and RTX, is designed for use against a range of targets, including armoured vehicles, the embassy said. The missile system is already in service with the US Army and Marine Corps, as well as several international customers, the embassy added. Read More…

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Hafsa Mustafa Posted in Business

Mufti Taqi Usmani's fatwa rules cryptocurrency purchases impermissible

A fatwa issued by Mufti Muhammad Taqi Usmani, president of Wifaq-ul-Madaris Al-Arabia Pakistan and Darul Uloom Karachi, stated that buying goods with cryptocurrency is not permissible under Islamic law (Shariah). According to the fatwa, based on the findings and opinions of experts consulted so far, cryptocurrency does not qualify as maal (property or wealth) in Sharia but is merely a record of notional numbers in an account. Read More…

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Hafsa Mustafa Posted in Business

India under fire after US says it 'allowed' Russian oil purchases

India’s Narendra Modi-led government has come under renewed criticism from opposition parties and sections of the public after the United States said it had temporarily allowed Indian refiners to buy Russian oil stranded at sea. The criticism centres on a statement by US Treasury Secretary Scott Bessent, who said in a post on X early Friday that the Treasury Department was issuing a 30-day waiver to allow Indian refiners to purchase Russian oil in order to keep oil flowing into the global market. Read More…

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Hafsa Mustafa Posted in World

'Modi knew I wasn't happy': Trump warns India of higher tariffs over Russian oil purchases

The United States could raise tariffs on India if New Delhi doesn't meet Washington's demand to curb purchases of Russian oil, President Donald Trump told reporters aboard Air Force One. "Modi [...] knew I was not happy, and it was important to make me happy," Trump said on Sunday. "They do trade, and we can raise tariffs on them very quickly," Trump said in response to a question on India's Russian oil purchases. India's commerce ministry did not immediately respond to a request for comment. Read More…

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Hafsa Mustafa Posted in World

Indian refiners pause new Russian oil orders, say sources

Indian refiners have not placed new orders for Russian oil purchases since sanctions were imposed, as they await clarity from the government and suppliers, sources told Reuters on Tuesday. Some refiners are tapping the spot markets to meet their crude oil needs, said the sources, who did not want to be named as they are not authorised to speak to the media. State-run Indian Oil has issued a tender for the purchase of oil, while conglomerate Reliance Industries has boosted purchases from spot markets, according to sources. Read More…

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Alina Hashmi Posted in World

Netanyahu meets pro-Israel influencers in US

The Israeli prime minister has met with a group of pro-Israel influencers in New York, telling them that he hopes the “purchase” of TikTok “goes through”. “We have to fight with the weapons that apply to the battlefield in which we engage, and the most important ones are social media,” Netanyahu told the influencers. “The most important purchase that is going on right now is … TikTok,” Netanyahu added. “TikTok, number one, number one, and I hope it goes through, because it can be consequential,” he added. Read More…

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Hafsa Mustafa Posted in World

Trump says he will ‘substantially’ raise tariffs on India over Russian oil purchases

U.S. President Donald Trump said on Monday he will substantially raise tariffs on India over its purchases of Russian oil. “India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits. They don’t care how many people in Ukraine are being killed by the Russian War Machine,” Trump said in a post on Truth Social. “Because of this, I will be substantially raising the Tariff paid by India to the USA.” Read More…

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Hafsa Mustafa Posted in Business

Pakistan makes first purchase of US crude oil after trade deal

Pakistan's largest refiner Cnergyico will import a million barrels of oil from Vitol in October, its Vice Chairman Usama Qureshi told Reuters on Friday, marking the country's first-ever purchase of US crude following a landmark trade deal. The West Texas Intermediate light crude cargo will be loaded from Houston this month and is expected to arrive in Karachi in the second half of October, Qureshi said. "This is a test spot cargo under our umbrella term agreement with Vitol. If it is commercially viable and available, we could import at… Read More…

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