ISLAMABAD: Siemens (Pakistan) Engineering Co. Ltd. (SIEM) has announced the sale of its energy portfolio to Siemens Gamesa Renewable Energy (Private) Limited for approximately Rs17.82 billion (~$64 million). The decision was approved by the company’s Board of Directors during a meeting held on October 11, 2024. In a notice to the Pakistan Stock Exchange (PSX) on Monday, SIEM disclosed that…
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ISLAMABAD: A newly released survey by the China Chamber of Commerce in Pakistan (CCCPK) highlights significant challenges faced by Chinese companies operating in Pakistan. The survey, titled the “Business Climate Index of Chinese Companies in Pakistan,” recorded a score of 49.63, just below the 50-point mark that separates optimism from pessimism. The findings, launched with support from the Chinese embassy,…
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Over 10,000 security personnel deployed; public offices, markets, schools, and metro bus service shut Finance Minister Dar urges PTI to cancel planned protest Bilateral talks with multiple countries scheduledISLAMABAD: Foreign dignitaries have begun arriving in Islamabad for preparatory meetings ahead of the 23rd Shanghai Cooperation Organisation (SCO) Summit, set to take place on October 15-16. In anticipation of the event,…
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The Ministry of Finance and the Ministry of Planning have finalized preparations for the upcoming visit of Chinese Premier Li Qiang, marking his first visit to Pakistan in 11 years. Several important agreements are expected during the visit, including the soft launch of the New Gwadar International Airport and a $2 billion loan agreement for the reconstruction of the Karakoram…
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For the first time ever, Pakistan has set a new record by exporting $4 billion worth of rice in the current fiscal year. This remarkable achievement is largely due to the efforts of the Special Investment Facilitation Council (SIFC), which has played a crucial role in boosting the country’s agricultural sector. One of the standout products in this success is…
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Seven PMs to gather in islamabad for SCO submit
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Karachi, October 12, 2024: Pakistan Petroleum Limited (PPL) has been conferred the Federation of Pakistan Chambers of Commerce and Industry’s (FPCCI) Best Performance Excellence Award on its outstanding performance in the Petroleum Sector. The Honourable President of Pakistan Mr. Asif Ali Zardari presented the award to Syed Mahmood ul Hassan General Manager Shared Services, PPL at FPCCI’s 12th Achievement Awards…
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The Saudi Ministry of Investment Supports AlBaik’s Expansion Efforts in the Islamic Republic of Pakistan. In a pioneering step that reflects the Kingdom’s Vision 2030 to enhance national exports and knowledge and open new horizons for Saudi commercial expansion globally, under the patronage of the Saudi Ministry of Investment, a Memorandum of Understanding was signed between the Saudi company AlBaik…
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KARACHI: The share prices of independent power producers (IPPs) in Pakistan have plunged by 13% to 26% over the past three weeks as the government signals plans to prematurely terminate their power purchase agreements (PPAs) to curb rising energy costs. This decision is expected to severely impact the earnings and dividend payouts of these companies. According to Topline Research, concerns…
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Saudi Arabia’s Investment Minister, Sheikh Khalid Bin Abdul Aziz Al Faleh, announced on Thursday that Manara Minerals, a company backed by Saudi Arabia’s sovereign wealth fund, is poised to acquire a stake in Barrick Gold’s Reko Diq project in the coming weeks. Reko Diq, one of the world’s largest untapped copper and gold reserves, is a key asset in Pakistan’s…
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