Ratan Tata, the former chairman of the Tata Group, who transformed the Indian conglomerate into a global powerhouse through a series of landmark acquisitions, passed away at the age of 86. The Tata Group announced his death in a statement on Wednesday. Sources had earlier confirmed that Tata had been in intensive care at a Mumbai hospital. After earning a…
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PM Shehbaz had earlier stated that he expected agreements worth $2 billion to be signed A high-level delegation of Saudi investors, led by Minister of Investment Khalid bin Abdulaziz Al-Falih, arrived in Pakistan on Wednesday on a three-day visit, amid Islamabad’s expectations that the two countries will sign bilateral agreements worth $2 billion. Federal Ministers Musadik Malik, Jam Kamal Khan,…
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Karachi, October 7, 2024: The settlement between Pakistan Petroleum Limited (PPL) Asia E&P B.V., a subsidiary of PPL, and Midland Oil Company (MdOC) marks the conclusion of their Exploration, Development and Production Service Contract (EDPSC) for Block-8, Iraq, which expired in May 2022. Efforts to resolve the lingering settlement from 2022 involved addressing longstanding disputes and claims between the parties.…
Read MoreKarachi The Energy Update expressed its deepest condolences to the government and affected families from the People’s Republic of China for the loss of two precious lives of Chinese nationals and injuries to another Chinese in the gruesome terror attack near Karachi Airport on the night of October 6, 2024.In its condolence message, Energy Update Managing Editor, Muhammad Naeem Qureshi,…
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Islamabad: Pakistan and Russia have signed their first-ever barter trade agreement during the inaugural Pakistan-Russia Trade Forum, according to recent report. This significant deal aims to strengthen economic ties between the two nations by allowing them to exchange agricultural products without relying on traditional payment systems. The move is particularly important due to payment constraints caused by Western sanctions imposed…
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India’s External Affairs Minister Subrahmanyam Jaishankar will attend a China-led summit in Pakistan in place of Prime Minister Narendra Modi, the government said late Friday. It’ll be the first visit to Pakistan by an Indian foreign minister since 2015. Jaishankar will lead the delegation at a state-level meeting of the Shanghai Cooperation Organisation starting on Oct. 15, said Randhir Jaiswal, foreign ministry spokesperson.
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The Pakistan Meteorological Department (PMD) has predicted an increase in temperatures in Karachi, with a maximum temperature of 38°C expected on Tuesday. The advisory mentioned that from tomorrow, northwestern desert winds from Balochistan will start affecting the city. The temperature in Karachi is expected to reach up to 37°C on Monday, with a higher heat intensity due to increased humidity.…
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One person was killed and several others injured in the explosion outside Pakistan’s largest airport, local media reported. It was initially unclear what caused the blast.One person was killed and several others were injured in a massive blast outside Karachi Airport in southern Pakistan on Sunday night, local media reported. The casualties were confirmed by broadcaster Geo News and Dawn newspaper, citing officials.Cause of the…
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Europe has experienced negative energy prices several times this year, as the rapid pace of development of solar and wind energy outpaces the region’s ability to cope with excess supply. Electricity prices dropped into negative figures for 7,841 hours during the first eight months of 2024, sometimes to as much as -$22 per megawatt hour, according to the consultancy ICIS. The main…
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ISLAMABAD: Pakistan has rationalised its investment expectations from the Gulf nations under the Special Investment Facilitation Council to $27 billion in five years, as it also hopes to clinch some new deals during the upcoming visit of Chinese Prime Minister Li Qiang. However, the exact number of agreements and memorandum of understandings that Pakistan hopes to sign during the Chinese…
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