Year: 2025

IFC Makes First Local Currency Investment in Pakistan to Support Agriculture

Admin
New-IFC

The International Finance Corporation (IFC), the private sector arm of the World Bank Group, has announced its first-ever local currency investment in Pakistan, aimed at strengthening the country’s agriculture sector and food security. In a statement issued on Tuesday, the IFC said it would provide an unfunded partial credit guarantee of up to Rs33.6 billion to support long-term Pakistani rupee financing from Standard Chartered Bank Pakistan Limited to Engro Fertilisers Limited. The initiative marks IFC’s maiden rupee-denominated investment in the country and is designed to expand access to long-term local…

Read More

China Challenges India’s Solar and IT Trade Measures at WTO

Admin
India-China

GENEVA: China has formally lodged a complaint against India at the World Trade Organisation (WTO), contesting New Delhi’s trade measures related to solar cells, solar modules and information technology products. According to the WTO, Beijing has requested the initiation of dispute consultations, alleging that India’s policies violate international trade rules. The complaint, dated December 19 and circulated among WTO members on Tuesday, targets subsidies provided to India’s solar sector and tariffs imposed on various IT products, including mobile phones and equipment used in the manufacturing of flat-screen display devices. China…

Read More

China’s Power Market Reforms and Global Data Centre Demand Drive Battery Boom

Admin
Power-sector

BEIJING: China’s revamp of its electricity market, coupled with surging global demand from data centres, is fueling a boom for the country’s energy storage manufacturers, which already dominate the global market. Chinese firms are projected to increase global shipments of lithium-ion battery cells for energy storage by 75% this year, exporting over $65 billion in storage and EV batteries. The surge is driven by domestic renewable energy and data centre demand, supportive government reforms, and international opportunities, including Europe’s aging grids and Middle East renewables. All six of the world’s…

Read More

Fatima Fertilizer-Backed Globacore Enters JV with Mari Minerals

Admin
Mine-minral

KARACHI: Fatima Fertilizer Company Limited announced on Monday that Globacore Minerals Limited, in which it holds a 32% equity stake, has entered into a joint venture with Mari Minerals (Private) Limited, a wholly owned subsidiary of Mari Energies Limited. According to a notice submitted to the Pakistan Stock Exchange (PSX), under the agreement Mari Minerals will transfer a 49% working interest in mineral exploration licences EL-322 and EL-323, located in Chagai district, Balochistan, to Globacore. The transfer is subject to all necessary corporate, regulatory, and governmental approvals. Mari Minerals will…

Read More

Cnergyico Imports $300 Million of US Crude to Boost Pakistan’s Trade Strategy

Admin
New-Cnergyico

ISLAMABAD: Pakistan’s largest private-sector refinery, Cnergyico Pakistan Limited, has imported $300 million worth of US crude oil as part of a broader strategy to narrow the bilateral trade gap and support national economic priorities. The company arranged four US-origin cargoes totalling four million barrels. Two cargoes, transported by MT Pegasus and MT Albany, have already been delivered and successfully processed at the refinery. A third cargo of one million barrels of West Texas Intermediate (WTI) crude, aboard MT San Jacinto, is en-route and expected to arrive on January 11, 2026.…

Read More