Saudi visit highlights Pakistan’s search for investment
The largest deal signed on Sunday, a $10 billion refinery to be developed in the port of Gwadar by Saudi Aramco, will take up to five years to develop. But smaller deals, including the acquisition of two liquefied natural gas plants, alternative energy projects and food and agriculture investments should bear fruit more quickly
‘Gwadar refinery to help Pakistan achieve autarky in petroleum sector’
ISLAMABAD:Â A state-of-the-art oil refinery and petrochemical complex, being established at Gwadar deep seaport with around $11 billion Saudi investment, would open new...
JCR-VIS reaffirms entity ratings of OGDCL at AAA/A-1+
KARACHI: JCR-VIS Credit Rating Company Limited has reaffirmed the medium to long-term entity rating of Oil and Gas Development Company Limited (OGDCL)...
Oil rises as investors grow optimistic over OPEC output deal
LONDON: Oil rose for a fifth day on Monday, on track for its strongest first quarter in eight years, thanks to a...
Honda to close UK car plant in 2022
LONDON: Japanese carmaker Honda is set to announce the closure of its only British car plant in 2022 with the loss of...
Pakistan, KSA to constitute joint working group on Gwadar refinery project
ISLAMABAD: Petroleum Minister Ghulam Sarwar Khan on Monday met with Saudi Energy, Industry and Mineral Resources Minister Khalid Al Falih to discuss the implementation plan with...
Saudi’s military company eyes $10bn revenue in next five years
ABU DHABI: State-owned Saudi Arabian Military Industries (SAMI) aims to generate $10 billion in revenue over the next five years, its chief...
NEPRA likely to increase power tariff by Rs1.93 per unit
ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) is likely to approve Rs1.9 per unit increase in power tariff under the head...
Govt suspends PIA flights to Japan
ISLAMABAD:Â The government has suspended the flights of Pakistan International Airlines (PIA) to Japan. The last PIA flight to Japan left on Sunday.
The...
PSO reports profit after tax of Rs4.2bn in 1st half FY19
Economic downtrend and reduction in overall market size have impacted the company's profitability
LAHORE:Â The Board of Management (BOM) of the Pakistan State...
Pakistan, Saudi Arabia sign agreements worth $20 billion
Saudi Arabia Crown Prince Mohammed bin Salman on Sunday landed on the red carpet in Pakistan amid much fanfare and strict security...
NAB summons NEPRA over case of unprecedented profits earned by IPPsÂ
ISLAMABAD: The National Accountability Bureau (NAB) Lahore has summoned officials of the National Electric Power Regulatory Authority (NEPRA) to appear Monday, 18Â February...
Saudi Prince Salman’s visit to revitalise economy: PM Khan, Umar
Prime Minister Imran Khan says Crown Prince Muhammad Bin Salman's visit to Pakistan is a manifestation of the strength of bilateral and...
Saudi company ACWA to invest $4bn in Pakistan’s renewable energy sector
ISLAMABAD: Saudi power producing company ACWA Power on Sunday expressed its willingness to invest around $4 billion in Pakistan’s renewable energy sector.
This...
Construction on 427km Machike-Tarujabba oil pipeline to start soon: Sarwar
ISLAMABAD:Â Minister for Petroleum Ghulam Sarwar Khan has said that construction work on the 427-kilometer Machike-Tarujabba oil pipeline from Sheikhupura to Peshawar would...