Category: Recent Post

Engro Corporation’s profit contracted 26.7% to Rs11.4 billion during the quarter ended September 30, 2021 owing to a spike in other expenses and finance cost. According to a notice sent by the company to the Pakistan Stock Exchange (PSX) on Friday, it had posted a profit of Rs15.5 billion in the same quarter of previous year. Earnings per share of the enterprise dropped from Rs16.12 during July-September 2020 to Rs10.62 in the same quarter of current year. Alongside the result, the company announced a cash dividend of Rs5 per share,…

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RIYADH: Top crude exporter Saudi Arabia will aim to achieve net zero car-bon emissions by 2060, its de facto ruler said on Saturday, days before the COP26 global climate summit. The kingdom, one of the world’s biggest polluters, said it would also join a global effort to cut methane emissions by 30 percent by 2030. The UN says more than 130 countries have set or are considering a target of reducing greenhouse gas emissions to net zero by 2050, an objective it says is “imperative” to safeguard a liveable climate.…

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China-Pakistan Economic Corridor (CPEC) Authority czar Khalid Mansoor came out on Saturday swinging at the United States for hatching plots against the multibillion-dollar project. Addressing the CPEC Summit at the Institute of Business Administration (IBA), the special assistant to the prime minister (SAPM) on CPEC affairs accused the United States of conniving in cahoots with India against the economic lifeline of Pakistan. “From the point of view of the emerging geo-strategic situation, one thing is clear: the United States supported by India is inimical to CPEC. It will not let…

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MOU Signing Ceremony for 400MW Green Hydrogen Project in Sindh was held at Energy Department, Karachi. Ms. Naheed Memon Chief Executive Officer (CEO) of Oracle Power, a UK listed company and Mr Yang Jianduo Chief representative in Pakistan of Power China International, signed the MoU for the joint development of the first green hydrogen project in Pakistan. The MOU signing for the 400MW Green Hydrogen Project in Sindh was witnessed by, Minister of Energy Sindh Mr. Imtiaz Ahmed Shaikh and His Excellency Consul General of China in Karachi Mr. Li…

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Plans to pilot an innovative all-Australian made hydrogen hybrid battery storage solution across tens of sub-5MW solar farms across regional Victoria and NSW have been underwritten by the Commonwealth Bank. Green investment firm Providence Asset Group said on Thursday that it had signed a $33 million project finance agreement with the CBA to bankroll 10 operational solar farms in regional Victoria, each of which will be fitted with a Lavo Heos green hydrogen energy storage and production unit. Providence, or PAG, is also developing a further 29 solar projects in…

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