Category: Latest News

Pakistan, IFC Advance Toward Financial Close of Reko Diq Project

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Reko-Diq

ISLAMABAD: Pakistan and the International Finance Corporation (IFC) have agreed to accelerate efforts for the early financial close of the Reko Diq project, one of the largest foreign investments in the country’s mining sector, the Ministry of Finance announced on Sunday. The development came during a meeting between Finance Minister Muhammad Aurangzeb and Riccardo Puliti, IFC’s Regional Vice President for the Middle East, Central Asia, Türkiye, Afghanistan, and Pakistan, held in Washington, DC on the sidelines of the IMF and World Bank Annual Meetings. Both sides reaffirmed their commitment to…

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Pakistan Braces for Coldest Winter in Decades Amid Lingering Flood Impacts

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New-Project61

ISLAMABAD: Pakistan is expected to experience one of its coldest winters in decades, driven by the ongoing La Niña climate pattern, according to a recent situation report by the Intersector Coordination Group in collaboration with partners, under the UN Office for the Coordination of Humanitarian Affairs (OCHA). The report warns that the colder-than-usual conditions could further strain the coping capacity of flood-affected households—particularly in the mountainous regions of Khyber Pakhtunkhwa (KP) and Gilgit-Baltistan (GB)—as they continue to recover from this year’s devastating monsoon floods. La Niña, which occurs when sea…

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Federal Minister for Petroleum Ali Pervaiz Malik Visits Russia, Strengthens Energy Cooperation

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New-Project59

ST. PETERSBURG, RUSSIA October 13,2025 Mr. Ali Pervez Malik, Federal Minister for Petroleum, undertook a significant visit to Russia, where he participated in the 14th St. Petersburg International Gas Forum 2025 (SPIGF) and held high-level meetings to bolster bilateral cooperation in the oil, gas, and minerals sectors. Minister Malik led the Pakistani delegation at the prestigious forum, a global gathering of energy leaders. During a high-level plenary session, titled “Gas Market 2025–2035: New Contours in a Fast-Moving Environment”he presented Pakistan’s comprehensive energy sector reforms to an international audience, highlighting the…

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China’s September Coal Imports Hit Nine-Month High Amid Rising Domestic Prices

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New-Project58

BEIJING, Oct 13 (Reuters): China’s coal imports climbed to a nine-month high in September, as surging domestic coal prices boosted the competitiveness of imported supplies, official data from the General Administration of Customs showed on Monday. The world’s largest coal consumer imported 46 million metric tons of coal last month — the highest since December 2024 — though slightly below the record 47.59 million tons imported in September 2024, when lower international prices had driven a surge in purchases. That record was later surpassed in November 2024, making September 2024…

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China’s September Oil Imports Rise 3.9% Year-on-Year, Slip 4.5% from August

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Oil prices

BEIJING, Oct 13 (Reuters): China’s crude oil imports increased 3.9% year-on-year in September, driven by strong refinery activity as facilities operated at their highest utilisation rates of 2025, official data showed. However, on a month-on-month basis, imports fell 4.5% due to tighter quotas and reduced seaborne shipments. According to the General Administration of Customs, China — the world’s largest crude importer — brought in 47.25 million metric tons of crude oil in September, equivalent to 11.5 million barrels per day. Chinese refineries ramped up production amid robust domestic supply, with…

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