China Launches Construction Of Huge $20 Billion Refinery Complex

China has launched the construction of a refinery and petrochemical complex worth US$20 billion in the Shandong province, the home of the independent Chinese refiners, Reuters reports, citing a local state newspaper. Earlier this year, China gave the go-ahead to plans for the colossal refinery and petrochemical complex Yulong, which will include a refinery with a crude processing capacity of…

Read More

CPEC investor China Three Gorges to list subsidiary on PSX

CPEC-Project

LAHORE: China Three Gorges South Asia Investment Limited (CSAIL) is planning to list its subsidiary, renewable energy company Three Gorges First (TGF) Wind Farm Private (Pvt) Limited (Ltd), on Pakistan Stock Exchange (PSX) by the second quarter of 2021, informed sources told Profit. This would be the first listing by a Chinese company on the PSX. Sources say that the listing of…

Read More

Power Division objects to publication of inconclusive audit reports

ISLAMABAD: As the Auditor General of Pakistan (AGP) claimed to have made Rs177 billion recoveries in first quarter of the current fiscal year, the Power Division on Tuesday called into question the publication of audit reports before conclusive decision by the Public Accounts Committee (PAC). “The AGP made recoveries of Rs176.9bn during first quarter (July-September) of 2020-21”, said an official statement. The…

Read More

PM likely to announce energy relief for industrial sector

ISLAMABAD: As the government has added to the industrialists’ problems by increasing the power tariff, PM Imran Khan may soon announce a relief in energy prices for the industrial sector.   The PM has assured the business community of a “good news” regarding power tariff, said industrialists who met with the prime minister on Wednesday.  “High energy prices increase the cost of production…

Read More

Indus Motor Company Declares Financial Results for First Quarter of FY20-21

Karachi: The Board of Directors of Indus Motor Company (IMC) released its financial results for the first quarter ended September 30, 2020.The Company’s combined sales of Complete Knocked Down (CKD) and Complete Built-up (CBU) units for the quarter increased by 73% to 11,809 units against 6,839 units sold in the same period last year. The market share of IMC in…

Read More

Nestlé declares financial results for nine-month period ended Sept 2020

KARACHI: Nestlé Pakistan Limited posted a revenue of PKR 88.7 billion for the nine-months period ended September 2020, an increase of 1.9% compared to the same period last year, despite many difficulties emanating from the COVID-19 crisis. These results were announced following a Board of Directors’ meeting at the Company’s Head Office, says a Press release.Dairy and Nutrition products are…

Read More