Russian oil producers’ profits dived in the first half of the year, driven down by lower crude prices and a stronger ruble.

Rosneft PJSC, the state-controlled giant accounting for more than a third of Russia’s total oil production, reported 245 billion rubles ($3 billion) of net income in the first six months of the year, down by over 68% from the same period in 2024, the producer said in a statement on Saturday.

Switzerland’s trade group for gold refiners opposes a relocation of some operations to the US to ease a trade imbalance between the countries and help tariff negotiations, newspaper Neue Zuercher Zeitung reported.

The government is trying to find ways to get President Donald Trump to lower his 39% tariff on Switzerland, which is damaging companies and the economy. There have been suggestions that moving gold refining capacity to the US would be an option to appease Trump.

Pakistan’s soaring used car imports pose a “serious” threat to local manufacturers, according to Indus Motor Co., the local joint venture of Toyota Motor Corp.

The roughly 40,000 to 45,000 imported vehicles comprised almost one-third of the local automobile market in the 12 months through June, compared with less than 10% in 2023, Indus Chief Executive Officer Ali Asghar Jamali said on Friday.