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- OpenAI says its models engaged with US government websites in new model misbehavior disclosure
OpenAI says its models engaged with US government websites in new model misbehavior disclosure

China's new travel rules unsettle tech giants and talent
Will Germany have enough gas this winter amid energy supply crunch?
Germany's car crisis: Can the 35-hour workweek survive?
Commission promises to cut EU public procurement rulebook from 900 pages to 200
The European Commission wants to cut the EU’s public procurement rulebook from around 900 pages to 200, in a sweeping reform that aims to simplify tendering while giving governments greater scope to favour European economic and security interests, writes Catherine Feore.
Executive Vice-President Stéphane Séjourné held up the existing body of rules alongside its much slimmer replacement, to illustrate his point.
“These here are the European rules which currently govern public procurement in Europe: 900 pages,” he said. “And this is what we are proposing today… down to 200 pages.”
The proposed Public Procurement Act would replace three EU procurement directives with a single regulation, with a view to simplifying procurement provisions spread across 26 sectoral laws and cutting the number of procedures from five to three.
The Commission estimates the changes could save businesses and public authorities €650 million a year in administrative costs.
The reform matters because of Europe’s massive purchasing power involved. EU public procurement exceeds €2.5 trillion annually, around 15% of EU GDP, covering everything from trains and hospitals to energy infrastructure, schools and IT systems.
From lowest price to strategic purchasing
The proposal is not just about cutting red tape. Brussels wants governments to use their purchasing power more strategically.
The Best Price-Quality Ratio would become the standard method for awarding contracts, with quality normally accounting for at least 30% of the assessment and 50% for labour-intensive contracts. Authorities could consider environmental and social performance, innovation, security and resilience alongside price.
The commitment to a so-called European preference has been tempered by the EU’s international commitments, but access can be restricted when a country doesn’t reciprocate market access. Restrictions could also be imposed where reliance on foreign suppliers creates security-of-supply dependencies or threatens EU economic security.
“European public money should, wherever possible, create jobs, investment and opportunities in Europe rather than filling the order books of our competitors,” Séjourné said.
Five procurement procedures would become three: open, dynamic and innovation procedures. Each would allow negotiation between buyers and bidders.
The Commission also plans an integrated EU digital procurement marketplace connecting national e-procurement platforms. A company registered through one connected system should be able to bid elsewhere in Europe without repeatedly submitting the same documentation. This is intended to reduce bureaucracy and tackle one of the current system's weaknesses: too little competition, particularly from SMEs and companies bidding across borders.
National, regional and local priorities may appreciate this flexibility in theory, but constrained budgets often mean that price will remain the bottom line for many. This legislation offers greater freedom in determining needs, but it remains to be seen what its impact will be.
PHOTO CREDIT: European Commission Executive Vice-President Stéphane Séjourné says the rules reduced from 900 pages to 200 pages © European Union
Govt surges petrol price by Rs.2.29, diesel by Rs.1.11 per liter
According to notification, new prices will be applicable on September 3.
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Dutch Bank transfers 86 tons of gold from US and Canada to UK
The bank said the Netherlands held 612.4 metric tons of gold reserves at the end of 2025.
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Pakistan floats fresh LNG tender after rejecting costly single bid
KARACHI: Pakistan LNG Limited has issued a fresh tender on Wednesday to procure a spot LNG cargo for delivery between September 8 and 12, after rejecting the sole bid received for an earlier delivery window as too expensive. The state-owned buyer turned down an offer from BP Singapore at $26.969 per million British thermal units ... Read more
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Oil prices surge as US-Iran strikes heighten supply fears
NEW YORK: Oil prices climbed in early trading Wednesday, building on the previous session’s sharp gains, as overnight military exchanges between the United States and Iran escalated tensions in the Middle East and revived fears of supply disruptions through a critical global shipping chokepoint. Brent crude futures rose $1.03, or 1.1%, to $95.68 a barrel ... Read more
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Pakistan fuel sales drop 3% in August on weaker diesel demand
KARACHI: Pakistan’s oil marketing companies posted a 3% year-on-year decline in petroleum product sales in August, driven largely by a sharp drop in high-speed diesel volumes, according to provisional numbers. Total industry sales fell to 1.261 million metric tons last month, down from 1.300 million tons in August 2025. Volumes also slid 16% from July’s ... Read more
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- BOL News
- Pakistan to sign long-delayed refinery deals unlocking more than $6 billion in planned upgrades
Pakistan to sign long-delayed refinery deals unlocking more than $6 billion in planned upgrades
ISLAMABAD: Pakistan is set to sign long-delayed agreements with five oil refineries, unlocking more than $6 billion in planned upgrades to modernize aging plants and cut reliance on fuel imports, officials said. But industry warnings that changes to the financial framework could derail the projects overshadowed the announcement. The agreements with Pak-Arab Refinery Ltd., Pakistan ... Read more
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Govt increases petrol price by Rs.0.51, diesel by Rs.1.08 per liter
According to notification, new prices will be applicable on September 2.
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Sindh Cabinet approves new electric vehicles tax relief package
Murad Ali Shah said greater use of electric vehicles would help reduce reliance on imported fuel.
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Masato Kanda unanimously re-elected as ADB president
Masato Kanda's new five-year term will begin November 24, 2026.
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Fitch assigns Pakistan’s proposed dollar bond ‘B-‘ rating
KARACHI: Fitch Ratings has assigned a ‘B-‘ rating to Pakistan’s proposed U.S. dollar-denominated bond, with a Recovery Rating of ‘RR4,’ the ratings agency announced. Pakistan plans to use proceeds from the bond for general budgetary and sovereign financing purposes, according to Fitch. The bond rating is aligned with Pakistan’s Long-Term Foreign-Currency Issuer Default Rating, while ... Read more
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APTMA praises FBR action against fabric import misdeclaration under EFS
APTMA said testing in several inspected consignments reportedly found the use of food coloring instead of proper dyeing.
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- BOL News
- Lotte Chemical Pakistan Limited announces strategic acquisition of Engro Polymer & Chemicals Limited to create a scaled, diversified and globally competitive petrochemical company
Lotte Chemical Pakistan Limited announces strategic acquisition of Engro Polymer & Chemicals Limited to create a scaled, diversified and globally competitive petrochemical company
Shares of both companies rose in early trading Tuesday, with EPCL climbing 2.11% and Lotte Chemical Pakistan gaining 2.88%.
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Govt raises petrol price, cuts diesel rates
According to notification, the new prices will be applicable on September 1.
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