Author: Admin

Saudi Arabia’s Manara Minerals Eyes Investment in Pakistan’s Reko Diq Mine

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Reko-Diq

RIYADH: Saudi Arabian mining giant Manara Minerals is poised to make a significant investment in Pakistan’s Reko Diq mine within the next two quarters, according to Pakistan’s Petroleum Minister, Musadik Malik. Speaking at the Future Minerals Forum in Riyadh, Malik expressed optimism about forthcoming developments, particularly in copper mining. Manara Minerals, a joint venture between Saudi state-controlled miner Ma’aden and the $925 billion Public Investment Fund (PIF), exemplifies the kingdom’s strategic diversification away from oil through global asset acquisitions. Executives from Manara previously visited Pakistan in May 2023 to explore…

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Commerce Ministry Proposes EV Sales Tax Removal and Battery Cap Elimination to Boost Adoption

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Battery-Cap

ISLAMABAD: In a significant move to accelerate electric vehicle (EV) adoption in Pakistan, the Ministry of Commerce has proposed eliminating the 25% sales tax on EVs priced above Rs4 million and lifting the cap on EV batteries for cars, vans, and SUVs. The recommendations were discussed during a recent steering committee meeting on EV policies. The Ministry of Industries and Production (MoIP) directed the Engineering Development Board (EDB) and the New Energy Vehicle (NEV) Policy team to evaluate these proposals, emphasizing the development of standards for EVs by the Pakistan…

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Trina Storage Tops BloombergNEF’s 2024 Bankability Survey, Reinforces Global Leadership in Energy Storage

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Trina-Storage

Trina Storage has retained its top ranking in BloombergNEF’s (BNEF) Energy Storage System Cost Survey 2024, a testament to its advanced technology, integrated capabilities, and financial robustness. This recognition solidifies Trina Storage’s market leadership and sets the stage for its ongoing global expansion. BNEF, a leading research authority in the global new energy sector, plays a pivotal role in guiding financial institutions’ commercial credit decisions. Trina Storage’s consistent inclusion in the survey’s top tier underscores the capital market’s confidence in its system integration solutions and overall bankability. With over 7.5…

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Pakistan’s EO-1 Satellite set for launch from China

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EO-1 Satellite

Pakistan’s EO-1 Satellite set for launch from China signifying SUPARCO’s commitment to advance Pakistan’s space technology. Pakistan Space and Upper Atmosphere Research Commission (SUPARCO) has announced the upcoming launch of Pakistan’s Indigenous Electro-Optical (EO-1) Satellite, which is scheduled for January 17, 2025, from the Jiuquan Satellite Launch Centre (JSLC) in China. This milestone launch demonstrates SUPARCO’s commitment to advancing Pakistan’s space science and technology capabilities, showcasing the country’s expertise and innovation in the field. The EO-1 satellite, developed locally, marks a significant step forward in Pakistan’s space technology sector. It is…

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Strong winds return to LA area, creating ‘dangerous situation’ as fires rage: Live updates

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los angeles fire

SANTA MONICA, Calif. – Powerful Santa Ana winds returned to the Los Angeles area on Tuesday, threatening to reverse some of the progress made in the battle against deadly wildfires that have destroyed entire neighborhoods and forced tens of thousands to flee their homes. Winds of 45 to 70 mph were forecast through the midweek, with peak wind gusts expected between Tuesday and Wednesday afternoon, according to the National Weather Service, which issued critical red flag warnings across much of southwestern California. With the combination of high winds, low humidity and relentless drought conditions, the weather service…

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