Year: 2021

K-Electric to construct pipeline for natural gas, RLNG as OGRA approves license

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KARACHI:  K-Electric on Thursday announced that the  Oil and Gas Regulatory Authority (OGRA) has approved its application for a license which will allow it to construct and operate a gas pipeline. According to KE, the pipeline will supply Re-gasified Liquefied Natural Gas (RLNG) to the upcoming RLNG-based 900 MW BQPS-III power plant and supplement fuel requirement of the power plants located at its Bin Qasim Power Complex. As reported by Geo.tv,   the development is a “positive one” for KE as it would be the “first-ever license obtained by the company from…

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Where is Chinese billionaire Jack Ma?

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BEIJING: Chinese business tycoon Jack Ma has reportedly gone missing after speculations emerged that the high-profile businessman made no public appearance for two months. The billionaire was scheduled to appear as a judge in the final episode of his own talent show, ‘Africa’s Business Heroes’, but mysteriously did not turn up for it and as a consequence, his photographs were removed from the show’s website, read the news report published in the UK publication, The Telegraph. “Due to a schedule conflict, Ma could no longer be part of the finale judge…

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Trump allowed back onto Twitter

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Posting a more conciliatory message, he refrained from reiterating false claims of voter fraud. Twitter said that it would ban Mr Trump “permanently” if he breached the platform’s rules again. The move from Twitter puts clear water between it and Facebook, which suspended him “indefinitely” on Thursday. Twitter has instead given the outgoing president a final warning. Earlier on Thursday, the popular gaming platform Twitch also placed an indefinite ban on Mr Trump’s channel, which he has used for rally broadcasts. Mr Trump tweeted several message on Wednesday, calling the…

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Govt raises Rs760 billion from domestic sukuk market in 2020

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KARACHI: The government raised more than Rs760 billion from the domestic sukuk market with Islamic banks still having enough liquidity to fill in the fiscal gap, The News learnt on Wednesday. Issuance of the government of Pakistan Ijara sukuk based on variable and fixed rental rates amounted to Rs561 billion last year. Two hundred billion rupees was generated through Pakistan Energy Sukuk II, bringing the total from statutory liquidity ratio-eligible sukuk or Islamic bonds up to Rs761 billion (approximately $4.7 billion). Higher issuance activity during the year can be attributed…

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Another delayed decision gets consequences: ‘IMF dictates Pakistan to mend policies’

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ISLAMABAD: Former federal minister and PML-N leader Ahsan Iqbal has claimed the PTI government has delayed the decision for seeking a loan from the IMF, so the monetary organisation has come in a position to dictate its conditions, knowingly that Islamabad had exhausted all other options. In an interview with ‘The News’ on Wednesday, Ahsan Iqbal said, “If the government had made a timely decision to go to the IMF program, it could have negotiated to protect their interests but the incumbent regime did not take decision in its first…

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