Day: June 11, 2020

MANILA, PHILIPPINES (10 June 2020) — The Asian Development Bank (ADB) has approved a $500 million loan to help the Government of Pakistan deliver social protection programs to the poor and vulnerable, expand health sector capabilities, and deliver a pro-poor fiscal stimulus to boost growth and create jobs as the country fights the novel coronavirus disease (COVID-19) pandemic. “The COVID-19…

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LAHORE: Nestlé Pakistan recently published its ‘Nestlé in Society: Creating Shared Value (CSV) 2019 report highlighting its three main focus areas globally: for individuals and families, for communities, and for the planet. Talking about Nestle’s Creating Shared Value (CSV) philosophy, Waqar Ahmad, Head of Corporate Affairs, Nestlé Pakistan, said, “Our CSV initiatives are geared towards addressing the challenges faced by…

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Adani Green Energy, part of India’s Adani Group conglomerate, will build 8 gigawatts of large-scale solar capacity worth $6 billion in India over the next five years, after winning the world’s largest solar energy tender award this week. The Solar Energy Corporation of India (SECI), a government body responsible for delivering India’s 100-gigawatt solar target for 2022, selected Adani Green…

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Electric cars from renowned automakers cost a fortune and there are plenty of import-related hassles that you have to go through, however, there’s an electric car that costs under $1,000. It is China made and can be ordered through Alibaba. An American citizen, Jason Torchinsky, ordered the same from a Chinese manufacturer called Changli. He, however, was left a little…

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As consumers across the country face difficulties due to petrol shortage, the government is currently contemplating completely deregulating pricing and marketing of petrol. According to a report published in Dawn, the government is considering doing away with uniform pricing of petrol and deregulating it in line with other petroleum products like HOBC which are already deregulated. Recently OMC’s have come…

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Over the weekend, OPEC and its allying oil-producing countries agreed to extend oil production cuts for another month in an effort to boost the economy in the wake of the Covid-19 pandemic. Under the prior agreement set in April, the 23-member group began curbing production by 9.7 million barrels per day on May 1, which was slated to extend through…

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ISLAMABAD: Germany will provide technical assistance, worth Rs700 million, to Pakistan in the field of renewable energy and energy efficiency. An agreement was signed between Secretary Economic Affairs Noor Ahmed and Ambassador of Germany to Pakistan Bernhard according to which Germany will provide technical assistance to Pakistan under the Pakistan-Germany Development Programme, worth 4 million euros or Rs700 million. The technical…

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A project described as the U.K.’s first consumer-owned wind farm has been launched, as the way people power their homes continues to change. In an announcement Monday, London based start-up Ripple Energy said the Graig Fatha wind farm in Wales would be “owned by the consumers it supplies.” The one turbine, 2.5 megawatt facility is set to come online in…

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Swarms of locusts spreading across Pakistan are emerging as a bigger threat to the economy than the coronavirus pandemic, with the pests threatening farm output, livelihoods and food security. The locust-invasion now covers an area of 57 million hectares in a country with a total crop area of 23 million hectares, said Falak Naz, director general of crop protection at…

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The generals are back in control in Pakistan — unofficially that is. There’s now more than a dozen former and current military officials in prominent government roles, such as running the state-owned air carrier, the power regulator and the National Institute of Health, which is leading the country’s pandemic response. Three of those appointments happened in the last two months.…

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