Author: Admin

2,300 Chinese Companies Driving Investment in Pakistan: PCJCCI Vice President

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New-PCJCCI

LAHORE – Zafar Iqbal, Vice President of the Pakistan China Joint Chamber of Commerce and Industry (PCJCCI), revealed during a meeting with the executive body that approximately 2,300 Chinese companies are actively operating in Pakistan. These companies, ranging from small to large-scale enterprises, are investing across diverse sectors, including the China-Pakistan Economic Corridor (CPEC). Expanding Investment HorizonsIqbal highlighted Chinese interest in key sectors such as electronics, automotive, education exchange programs, insurance, agriculture, textiles, chemicals, real estate, and battery recycling. He emphasized that these collaborations could boost Pakistan’s industrial capabilities and…

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Karachi Business Leaders Announce Launch of ‘Air Karachi’ Airline

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Air-Karachi

Karachi Business Leaders Announce Launch of ‘Air Karachi’ Airline November 27, 2024 KARACHI – In a significant move, Karachi’s business community has unveiled plans to launch Air Karachi, a new airline aimed at boosting the city’s connectivity and economy. The announcement, led by prominent businessman Hanif Gohar at the Karachi Press Club, highlighted an initial investment of Rs 5 billion. Details of the Initiative:Registered with the Securities and Exchange Commission of Pakistan (SECP), Air Karachi awaits federal licensing to begin operations. The airline will initially operate with three leased aircraft…

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Adani’s Renewable Energy Dream Faces Turmoil Amid US Bribery Allegations

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clean-energy-1

NEW DELHI – Gautam Adani’s ambitious renewable energy project, a cornerstone of India’s clean energy goals, is under scrutiny following a US indictment accusing Adani and key executives of paying $265 million in bribes to secure power supply contracts in India. The Vision:Adani Green’s energy park in Gujarat, set to be five times the size of Paris, aims to produce 50 gigawatts by 2030—approximately 10% of India’s clean energy target. Described by Adani as a “symbol of sustainability and national pride,” the park is central to Adani Group’s $100 billion…

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Business Seeks Clarity Amid Mixed Messages from COP29 on Climate Goals

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Cop-29

BAKU – The COP29 climate summit in Azerbaijan concluded with agreements on climate finance and carbon market frameworks, but lingering uncertainties leave businesses seeking more concrete details. While the summit pledged $300 billion annually in climate finance by 2035 and advanced rules for carbon offset trading, the outcomes remain insufficient for many developing nations and private sector stakeholders. Key Outcomes and Challenges:Finance Commitments: The $300 billion annual climate finance target prioritizes vulnerable nations but lacks interim milestones. Multilateral development banks pledged $65 billion annually from private investment, yet specifics on…

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Criticism Mounts Over Exclusion of Net-Metering from Winter Electricity Package

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NEPRA-KE

ISLAMABAD – Business and industry groups have criticized the government’s decision to exclude solar net-metered consumers from its winter electricity package, urging the authorities to ensure K-Electric passes the benefits to Karachi’s residents. During a public hearing by the National Electric Power Regulatory Authority (Nepra), stakeholders raised concerns about delayed implementation, with nearly 20 days of the three-month package already lapsed. Business representatives questioned the government’s decision to apply reduced rates retroactively. Key Points Raised:KE’s Role Under Scrutiny: Karachi Chamber of Commerce and Industry’s Tanveer Bari accused K-Electric (KE) of…

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