Category: Shortcode

In a statement to the bourse on Thursday, Hub Power Company Limited (Hubco) announced that Prime, a 50-50 joint venture between Hub Power Holdings Limited (a fully owned subsidiary of Hub Power Company Limited) and the Eni’s Employee Buy-out Group, entered into four sale purchase agreement with Eni International BV, Eni Oil Holdings BV, Eni UK Limited and Eni ULX Limited for the purpose of acquiring Eni’s business in Pakistan. Eni, a global energy company, has been operating in Pakistan in the exploration and production sector for more than a…

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Britain faces a record hit to living standards this year as surging inflation erodes incomes, the country’s budget forecasters warned, after finance minister Jeremy Hunt announced more pain, with tax rises now and spending cuts further ahead. In a bid to restore Britain’s fiscal reputation after the chaos caused by former prime minister Liz Truss’s plans for sweeping tax cuts, Hunt outlined a budget programme on Thursday to save 55 billion pounds a year to fix the public finances. Almost half the belt-tightening is due to come from tax increases,…

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The lawyer representing the Balochistan government on Wednesday told the Supreme Court that the province would receive $32 billion in 47 years from the Reqo Dik project. Salahuuddin Ahmed further told a five-judge larger bench, headed by Chief Justice of Pakistan (CJP) Umar Ata Bandial — hearing a presidential reference on the project — that 25% of the proceeds gained from the gold mine project belonged to the provincial government. Of this 25% share, 15% would be held by a holding and offshore company of Balochistan, he added. Salahuuddin further…

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Domestic consumers are bracing for long hours of gas outages as they are likely to receive supplies for only eight hours a day to meet cooking needs when the winter season hits its peak next month. Sources told The Express Tribune that the main problem would be encountered on the Sui Northern Gas Pipelines Limited’s (SNGPL) network, particularly in Punjab, due to the scarcity of gas. Punjab’s own gas production stands low when compared with other provinces which include Khyber-Pakhtunkhwa (K-P), Sindh and Balochistan. Under Article 158 of Pakistan’s constitution,…

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Leading rickshaw manufacturer, Sazgar Engineering Works Limited (SEWL) announced on Wednesday that it will be launching Pakistan’s first locally assembled hybrid electric vehicle (HEV) under the brand name ‘Haval’ on November 17, 2022. In a notice to the Pakistan Stock Exchange (PSX), the company said, “We are pleased to inform you that the company has successfully assembled/ manufactured locally the first Hybrid Electric Vehicle (HEV) of Pakistan and is being launched under brand ‘Haval’ as of November 17.” The global SUV brand, ‘Haval’, is one of four brands belonging to…

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