Month: August 2021

KE and Karachi share a relationship that extends over a century. We are deeply enmeshed in the fabric of this city and have witnessed its growth from humble origins to today’s bustling megalopolis. Today, Karachi is responsible for 20% of Pakistan’s GDP, contributes over 55% of federal tax revenue, and handles over 95% of foreign trade through its ports. The city’s 7 industrial zones – which have been exempted from load-shed since 2010 – are responsible for almost 40% of the large-scale manufacturing employment of the country. This boom in…

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Kuwait Ports Authority (KPA) has approved a proposal to build the Middle East’s first city to serve electric vehicle manufacturers, the authority said in a statement on Sunday. The statement does not make clear where the project, called EV City, will be located. The design and construction tendering process will be during the 2011/22 fiscal year, said KPA’s General Manager Yousef al-Abdullah al-Sabah. KPA noted that electric car makers do not use local distributors or dealers and sell their vehicles directly to consumers, adding that it was common for ports…

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With oil and gas exploration and production flows weakening over the few years, reserves running dry, and discoveries remaining small and insignificant, FY20 was a weak link in for the sector not only due to the pandemic but also extreme volatility in oil prices to a point that they turned negative. them. Overall, oil production declined by 14 percent year-on-year, while gas production which fell by 8 percent year-on-year in FY20. The oil and gas exploration and production sector has also been facing liquidity constraints where companies have been facing…

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