Day: February 23, 2026

LONDON: Soaring energy prices are putting the United Kingdom’s manufacturing base at risk, with nearly 40 percent of businesses cutting investment amid persistently high electricity and gas costs, according to a joint report by the Confederation of British Industry (CBI) and Energy UK. The report cautions that the UK could lose its status as a major manufacturing hub unless urgent reforms are undertaken to address elevated energy prices and outdated infrastructure. Business electricity costs remain around 70 percent higher than pre-Ukraine war levels, while gas prices are approximately 60 percent…

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MANILA: Pakistan and the Philippines have reaffirmed their commitment to strengthening bilateral trade and investment, with a focus on agriculture, energy, minerals, and improved business mobility during high-level talks held in Manila. The discussions took place during the second session of the Pakistan-Philippines Joint Economic Commission, co-chaired by Pakistan’s Secretary of Economic Affairs Muhammad Humair Karim and Philippine Undersecretary for International Trade Allan B. Gepty. Senior officials from both sides also participated in the meeting. According to Pakistan’s Ministry of Economic Affairs, both countries explored avenues to enhance commercial ties,…

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KARACHI: Marking a decade of operations, SkyElectric Pvt. Ltd has announced its transformation from a solar solutions provider into what it calls Pakistan’s first fully integrated, AI-powered Energy Intelligence Platform. At a ceremony held on February 3, the company celebrated ten years of operations in Pakistan’s renewable energy sector and unveiled SkyElectric X, a next-generation platform aimed at redefining how energy is produced, stored, managed, and optimized. Company officials said the initiative represents a shift from conventional solar panel installations toward intelligent, storage-led and AI-driven energy ecosystems. “The era of…

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Pakistan Petroleum Limited (PPL) has injected an additional Rs14 billion (approximately $50.2 million) into the Reko Diq copper-gold project, raising its total equity contribution to Rs68.1 billion ($243.6 million). The fresh investment underscores Pakistan’s continued financial commitment to one of the country’s largest mining ventures despite prevailing security concerns in Balochistan. The project is operated by Canada-based Barrick Mining Corporation, which holds a 50 percent stake in Reko Diq. The remaining shares are split between Pakistani stakeholders, with PPL and other state-owned enterprises collectively owning 25 percent, while the Government…

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