Category: Latest News

Cairo: Egypt has signed renewable energy agreements worth a combined USD 1.8 billion, marking a major step toward expanding clean power generation and energy storage capacity, state television reported on Sunday. The deals include contracts with Norwegian renewable energy developer Scatec and China’s Sungrow, covering large-scale solar power generation, battery energy storage systems and local manufacturing. Under one of the key agreements, Scatec will construct a 1.7-gigawatt solar power plant in Minya, Upper Egypt, supported by battery energy storage systems with a total capacity of 4 gigawatt-hours, according to an…

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Karachi: JS Investments Limited on Monday announced the appointment of a new Chairman of the Board of Directors and Chief Executive Officer (CEO), according to a notice issued to the Pakistan Stock Exchange (PSX). The company informed the bourse that Suleman Lalani has been appointed as Chairman of the Board of Directors, while the board has approved the appointment of Iffat Zehra Mankani as Chief Executive Officer for a period of three years, subject to the approval of the Securities and Exchange Commission of Pakistan (SECP). In addition, the board…

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Islamabad: The Water and Power Development Authority (Wapda) has shared a comprehensive power evacuation plan for the 4,500MW Diamer Basha Dam Project (DBDP)—a strategically vital project valued at around USD 10 billion—with the Ministry of Water Resources, well-informed sources told Business Recorder. According to sources, the plan was prepared and submitted in response to a directive from the Prime Minister’s Office (PMO), following a series of high-level meetings chaired by Prime Minister Shehbaz Sharif to fast-track key national infrastructure projects. Citing the PMO’s instructions, sources said the National Grid Company…

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Karachi: Federal Secretary for Commerce Jawad Paul on Saturday endorsed the need for regionally competitive energy tariffs and more facilitative tax measures for exporters, as government officials and trade bodies reviewed Pakistan’s export performance and discussed strategies to boost outbound trade. According to an official statement, the consultative meeting was aimed at formulating practical measures to enhance exports and strengthen the national economy. Participants shared sector-wise perspectives on key constraints, opportunities for export diversification and pathways to improve competitiveness. The session was hosted by the Federation of Pakistan Chambers of…

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Islamabad: The federal government has approved the appointment of Dr Kabir Ahmed Sidhu as the new Chairman of the Securities and Exchange Commission of Pakistan (SECP) with immediate effect, according to a notification issued by the Finance Division. Dr Sidhu is currently serving as Chairman of the Competition Commission of Pakistan (CCP), where he is widely credited with leading one of the most significant institutional turnarounds in the commission’s history. When he assumed office in August 2023, the CCP was grappling with persistent enforcement challenges and a substantial backlog of…

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