As the government goes about deciding which line it should eventually take to turn the PIA-owned Roosevelt Hotel in New York into a profitable entity, the luxury property has piqued the interest of a name all too familiar in American real estate: Donald Trump. The revelation came as a top Pakistan International Airlines (PIA) official informed the National Assembly Standing…
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ISLAMABAD: A day after reports suggesting Iran had dropped India from a key project linked to Chahbahar Port, Iran on Wednesday threw its weight behind the Belt and Road Initiative (BRI) as well as its flagship project, the China Pakistan Economic Corridor (CPEC). Iran’s Ambassador to Pakistan Seyed Mohammad Ali Hosseini said the BRI and CPEC were beneficial for the…
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MOL revealed Tuesday that it has discovered “significant” gas and condensate reserves in Pakistan. The Mamikhel South-1 exploratory well, which is located in Pakistan’s TAL Block, achieved a flow rate of 6,516 barrels of oil equivalent per day during testing, according to the company, which noted that further testing of the well is currently ongoing. Mamikhel South-1 marks MOL’s 13th discovery…
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KARACHI: K-Electric hosted a press conference at its Office to allay the concerns of Karachi consumers around the power supply situation and address misinformation around various power-related issues. The conference which, was hosted by Chief Executive Officer (CEO) K-Electric, Moonis Alvi, Chief Financial Officer (CFO) Aamir Ghaziani and Chief Distribution Officer (CDO) Amer Zia, focused on transparently addressing the prevailing myths…
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KARACHI: Ismail Suttar, President of Employers Federation of Pakistan (EFP), the Apex Body of Manufacturers of Pakistan, has appealed to Prime Minister Imran Khan to further reduce the gas prices as the industry was expecting a huge cut in gas prices as is the case worldwide. Speaking on behalf of local manufacturers, Ismail requested that the gas prices should be the…
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Iran and China have quietly drafted a sweeping economic and security partnership that would clear the way for billions of dollars of Chinese investments in energy and other sectors, undercutting the Trump administration’s efforts to isolate the Iranian government because of its nuclear and military ambitions. The partnership, detailed in an 18-page proposed agreement, would vastly expand Chinese presence in…
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Prime Minister Imran Khan on Wednesday vowed to build the “biggest dam in Pakistan’s history” after kicking off construction work at the Diamer-Bhasha Dam project, adding that the project will also benefit the people living in Gilgit-Baltistan (GB). The prime minister made the remarks while addressing a public gathering in Chilas. Earlier, the PM had visited the site of the…
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Venezuela’s state oil firm PDVSA has resumed gasoline production at the only operating refinery in the country home to the world’s largest oil reserves that is experiencing severe gasoline shortages, sources with knowledge of the matter told Reuters. PDVSA’s refinery Cardon, capable of processing 310,000 barrels per day, was hit by a fire last week and people with knowledge of…
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KARACHI: As much as 40 acres of land at Hawkes Bay Beach will be allotted to K-Electric (KE) to set up a 500 kilowatt grid station. The decision was made during a meeting chaired by Energy minister Imtiaz Ahmed Shaikh on Tuesday. Directing KE officials to begin working on the project at the earliest, the minister maintained that the Sindh…
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