The Israeli military on Thursday announced the killing of Hamas leader Yahya Sinwar by its forces in southern Gaza the previous day. The Israeli military “confirms that after a year-long pursuit, yesterday (Wednesday), October 16, 2024, IDF (military) soldiers from the Southern Command eliminated Yahya Sinwar, the leader of the Hamas organisation, in an operation in the southern Gaza Strip,”…
Read MorePakistan beat England by 152 runs to level three-game series on Day Four of second Test match in Multan. Pakistan sealed their first home Test win in nearly four years as they beat England by 152 runs in the second match in Multan on Friday, levelling the three-game series and vanquishing last week’s crushing defeat. The victory also ended an…
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ISLAMABAD, Oct 18 (APP): Pakistan and China have agreed to continue to deepen cooperation in various fields and accelerate efforts to build an even closer Pakistan-China community with a shared future in the new era. “The two sides noted that in a transforming and turbulent world where major changes are unfolding at a faster pace, the Pakistan-China relationship is of…
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ISLAMABAD: The federal cabinet has approved a settlement with five Independent Power Producers (IPPs) involving the voluntary termination of their contracts, following mutually agreed negotiations. According to details, the government will pay Rs72 billion to these IPPs within 90 days, while ensuring no unfair treatment in the process. The settlement includes repatriation of dividends for foreign shareholders, with the Central…
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ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has issued show-cause notices to the Central Power Purchasing Agency–Guaranteed (CPPA-G), the Market Operator (MO), and the National Transmission and Despatch Company (NTDC) for failing to sign Black Start Procedures (BSPs) and finalize Operating Procedure Manuals (OPMs) for power plants. Following a nationwide power outage in January 2021, Nepra initiated an inquiry…
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KARACHI: The State Bank of Pakistan (SBP) has projected real GDP growth between 2.5% and 3.5% for FY25, citing improvements in macroeconomic conditions supported by stabilization policies, IMF engagement, and a favorable global environment. In its annual report for FY24, the SBP highlighted reduced economic uncertainty and a positive outlook, but cautioned that fluctuations in global energy prices could pose…
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ISLAMABAD: The oil industry has raised alarm over restrictive fuel pricing policies, claiming significant financial losses due to deviations from the government-approved pricing formula. In a letter to the Oil and Gas Regulatory Authority (Ogra), the Oil Companies Advisory Council (OCAC), representing refineries and oil marketing companies, warned that adjustments to the pricing mechanism effective from October 16, 2024, are…
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KARACHI: Mega Motor Company, a subsidiary of Hub Power Company Ltd (Hubco), has signed a major partnership with BYD Auto Industry Company Ltd, the world’s leading manufacturer of new energy vehicles (NEVs). In a statement on Thursday, Hubco announced that the agreement includes manufacturing, marketing, distribution, and sales of BYD’s passenger vehicles in Pakistan. The deal also involves technical licensing…
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ISLAMABAD: In an unusual regulatory action, the National Electric Power Regulatory Authority (NEPRA) has imposed a Rs50 million fine on Central Power Generation Company Ltd (CPGCL) for submitting deceptive regulatory filings that inflated electricity tariffs. The fine is linked to CPGCL’s Guddu Thermal Power Station, which charged over Rs1.24 billion in tariffs for a gas booster that was procured at…
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