Day: April 23, 2024

BYD, World’s Largest Battery Manufacturer, Joins Forces with Diwan International to Introduce High-Performance Lithium-ion Batteries in Pakistan

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Karachi: “Global leader in battery manufacturing, BYD, has announced a strategic distribution partnership with Diwan International Pvt Ltd, Pakistan’s largest solar component distributor, to supply premium Lithium-ion batteries for solar systems in Pakistan. This partnership marks a significant milestone in the country’s renewable energy sector, as Diwan International expands its portfolio of esteemed partners, including Huawei Solar Inverter, Jinko Solar, Trina Solar, Longi Solar, Tongwei Solar, Astronergy, Chint LV products, Leoch Battery, and Pilot Batteries. With this collaboration, BYD is poised to make a substantial impact in Pakistan’s clean energy…

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LIIBS 7th Edition, Unites Stakeholders for Collaborating for Growth

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Islamabad, April 23, 2024: The 7th Edition of LEADERS IN ISLAMABAD BUSINESS SUMMIT (LIIBS) kicked off with a full house at a local hotel in Islamabad.  More than 15 global speakers and 1000+ delegates were present at the event to unlock growth opportunities and collaborate for mutual benefit and advancement. The 7th Edition of LIIBS is jointly hosted by Nutshell Group and Unity Foods Limited, in collaboration with OICCI (Overseas Investors Chamber of Commerce and Industry), with Faysal Bank Limited as the Platinum partner, and InfraZamin Pakistan as the strategic partner.…

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Pakistan, Iran sign 8 agreements, MoUs: Trade volumes to be hiked to $10bn in 5 years

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New-iran

ISLAMABAD: Pakistan and Iran have agreed to increase the volume of bilateral trade to $10 billion in the next five years following the signing of as many as eight agreements and memorandums of understanding (MoUs) for cooperation in different areas. Speaking after witnessing the signing of the agreements and MoUs between the two sides, Prime Minister Shehbaz Sharif said that a fruitful discussion was held between the two sides including security and investment during the meeting. He said that Iran was among those countries which recognised Pakistan after 1947. The…

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Crude oil futures climb back into positive territory

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Oil price

US West Texas Intermediate crude was up 1%, or 0.01%, at $83.15 a barrel at 1651 GMT HOUSTON: US crude futures returned to positive territory on Monday after falling on easing fears of a wider conflict in the Middle East. US West Texas Intermediate crude was up 1 cent, or 0.01 percent, at $83.15 a barrel at 1651 GMT. The front-month WTI crude contract for May expires on Monday.Brent crude futures were down 33 cents, or 0.38 percent, at $86.96 a barrel. Both benchmarks had been down more than $1…

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Gas crisis looms as line pack pressure hits dangerous level

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New-RLNG

ISLAMABAD: The country’s system line pack has once again increased alarmingly to 5.070 billion cubic feet per day (bcfd), putting the whole gas transmission line under severe stress. This is mainly due to the lower utilisation of regulated liquefied natural gas (RLNG) by the power and industrial sectors. To decrease the line pack pressure, Sui gas companies are excessively diverting the costly RLNG to the domestic sector, even after the beginning of the summer season. This will cause a further increase in gas tariffs for the domestic sector, senior officials…

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