LAHORE: China Three Gorges South Asia Investment Limited (CSAIL) is planning to list its subsidiary, renewable energy company Three Gorges First (TGF) Wind Farm Private (Pvt) Limited (Ltd), on Pakistan Stock Exchange (PSX) by the second quarter of 2021, informed sources told Profit. This would be the first listing by a Chinese company on the PSX. Sources say that the listing of…
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ISLAMABAD: As the Auditor General of Pakistan (AGP) claimed to have made Rs177 billion recoveries in first quarter of the current fiscal year, the Power Division on Tuesday called into question the publication of audit reports before conclusive decision by the Public Accounts Committee (PAC). “The AGP made recoveries of Rs176.9bn during first quarter (July-September) of 2020-21”, said an official statement. The…
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Pakistan is aware of the myriad benefits that come from exploring nuclear technology for power generation and has demonstrated a commitment to gradually diversify its energy production from fossil to nuclear sources. Atomic energy is not just about bombs that are dropped over cities and people, but it also has a potential for something positive for the mankind. There is…
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ISLAMABAD: As the government has added to the industrialists’ problems by increasing the power tariff, PM Imran Khan may soon announce a relief in energy prices for the industrial sector. The PM has assured the business community of a “good news” regarding power tariff, said industrialists who met with the prime minister on Wednesday. “High energy prices increase the cost of production…
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Karachi: The Board of Directors of Indus Motor Company (IMC) released its financial results for the first quarter ended September 30, 2020.The Company’s combined sales of Complete Knocked Down (CKD) and Complete Built-up (CBU) units for the quarter increased by 73% to 11,809 units against 6,839 units sold in the same period last year. The market share of IMC in…
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KARACHI: Nestlé Pakistan Limited posted a revenue of PKR 88.7 billion for the nine-months period ended September 2020, an increase of 1.9% compared to the same period last year, despite many difficulties emanating from the COVID-19 crisis. These results were announced following a Board of Directors’ meeting at the Company’s Head Office, says a Press release.Dairy and Nutrition products are…
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Islamabad-The 23rd annual general meeting of Oil and Gas Development Company Limited was held here in Marriott Hotel Islamabad on Wednesday the 28th of October 2020. The members approved financial statements for the fiscal year ended June 30, 2020 together with the Director’s and Auditor’s report. Final cash dividend of 25% of the par value of the shares i.e Rs…
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The Mexican government is ready to review offers for so-called farm-outs with Pemex if the projects proposed are feasible, Reuters has reported, quoting Energy Minister Rocio Nahle. This is a marked departure of Nahle’s previous skepticism about the benefits of Pemex working with foreign oil companies. In fact, just last month the Mexican government said it was working on a new…
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BP (NYSE: BP) avoided a second consecutive loss and beat analyst estimates as it reported on Tuesday a small profit for the third quarter after oil prices stabilized at around $40 a barrel from the slump in Q2. The UK-based supermajor, which is in the process of slashing 10,000 jobs, reported an underlying replacement cost profit—its proxy for net profit—of…
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The average energy capacity cost of utility-scale battery storage has declined from $2,152 per kilowatt-hour in 2015 to just $625/kWh in 2018. As of the end of 2018, the U.S. had 869 MW of installed energy storage capacity. The U.S. added 152 MW in 2019. In the first 7 months of 2020, the U.S. added 301 MW of energy storage…
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