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Lahore firm’s global push lifts stock 67%, outpaces KSE-100 Pak Elektron Ltd (PSX: PAEL) is expanding its global reach with growing exports to the United States and the launch of a smart meter assembly plant in Nigeria. The Lahore-based electrical equipment manufacturer has rallied more than 67% in one year, handily beating the KSE-100 Index,…
Petroleum minister, PM back industry push to fix sales tax snag threatening refinery modernization The government has assured the refinery sector that their tax issues will be resolved in the upcoming budget that was affecting the refineries and oil marketing companies, as the petroleum minister has taken up this issue with the ministry of Finance…
Government awards 13 new blocks for exploration in Sindh and Balochistan ISLAMABAD — In a significant boost to foreign investment in Pakistan’s energy sector, the government has awarded oil and gas exploration rights to Turkish Petroleum Overseas Company (TPOC) in Sindh and Balochistan, official sources confirmed on Friday. TPOC, a state-owned Turkish energy firm, will…
Pak Elektron Limited (PEL), Pakistan’s leading power equipment and appliances manufacturer, is making its first major footprint in Africa by establishing a smart energy meter assembly plant in Nigeria, in partnership with a local business giant. The move signals PEL’s ambition to tap into Africa’s rising energy demand and position itself as a key player…
NEPRA Orders KE Probe; Karachi Traders Say ‘No More Surcharges’ ISLAMABAD: Business leaders and industrialists in Karachi on Thursday launched a scathing attack on K-Electric (KE), vowing not to pay “a single penny” in surcharges related to the company’s Rs76 billion write-off claims, while accusing the utility of sending bogus bills to defaulted consumers dating…
The Special Investment Facilitation Council (SIFC) and the Public Procurement Regulatory Authority (PPRA) have formally conveyed their decisions to Pakistan International Bulk Terminal Ltd., clearing the Karachi-based operator to handle exports of copper, gold, and other high-value minerals from Barrick Gold Corp.’s $6 billion Reko Diq project. “We have received the decisions, and we have…
A drone strike in the Shamozai area of Katlang, just 30 kilometers from the Punjab Regiment Center in Mardan, killed at least 10 civilians, including women and shepherds, triggering outrage among locals, sources said Saturday. Following the strike, protesters placed bodies on the Swat Motorway, blocking traffic and condemning the attack. Reports suggest that a…
Micro nuclear reactors delivering 5MW for 100 months are set to revolutionize energy for data centers. Microsoft and Oracle explore nuclear options, with Westinghouse’s eVinci reactor leading the innovation push.
Scientists have raised alarms about a new, highly contagious Covid-19 strain, XEC, which is now spreading across Europe. First detected in Germany in June, the XEC variant has since been identified in 13 other countries, including the UK. It is expected to become the dominant strain as colder weather sets in, following a summer surge…
Pakistan has postponed the signing of the Implementation Agreement (IA) with local crude oil refineries for a further six months, citing disagreements with private refiners as a significant hurdle. The delay, primarily attributed to the country’s largest refinery, Pak-Arab Refinery Company (Parco), has exacerbated the situation. The decision to extend the signing deadline reflects ongoing…
Moody’s, the ratings agency, downgraded China’s credit rating outlook from “stable” to “negative” on Tuesday, citing escalating debt in the world’s second-largest economy. Beijing expressed its disappointment with the decision. According to the U.S. agency’s note, the downgrade is a response to mounting indications that the government and broader public sector will extend financial support…
In a groundbreaking study, Japanese scientists have successfully grown mouse embryos aboard the International Space Station, showcasing potential breakthroughs in human reproduction in space. Utilizing a specialized device, astronauts thawed and cultivated the embryos over a four-day period, marking a significant advancement in extraterrestrial reproductive science. Operating within specific intervals, the astronauts meticulously monitored the…
Amnesty International is calling on the Government of Pakistan to immediately cease the ongoing detentions, deportations, and widespread harassment of Afghan refugees. The human rights organization expressed concern that thousands of Afghan refugees are being used as political pawns, facing potential return to Taliban-controlled Afghanistan where they may be at risk amidst a severe crackdown…
As the Earth gets hotter because of climate change, the bird nesting becomes tougher and they hardly find safe places in farmlands to lay eggs and raise chicks. It leads to 46 percent fewer chances to have at least one chick when it gets really hot. A study by researchers looked at a big database with…
This Debt is Three Times Higher Than Pakistan’s Defense Budget And is Increasing. Islamabad Considers Private Management of State-Owned Power Companies for Up to 25 Years Pakistan’s energy sector faces an imposing challenge as its circular debt has ballooned to a staggering figure, nearing US$17.5 billion. This sum is nearly double the combined budget allocations…
Facebook Has Become the Leading Social Networking Platform, Attracting Half of the Nation’s Users, While Others Compete for the Rest Utilizing social networking services (SNS) for marketing is undeniably the most effective way to grow a brand. So, every brand and business should be aware of the existing social media trends and identify the platform…
Russian Foreign Minister Lavrov At UN Dismisses Ukraine’s Peace Talks, Warns of Conflict, and Rejects Grain Deal Russian Foreign Minister Sergey Lavrov, in his UN address, criticizes Western nations and specific Ukrainian peace proposals amid the Russia-Ukraine war tensions. He dismissed Ukraine’s 10-point peace plan as “completely not feasible,” and suggested that if Ukraine and…