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Chinese firm to resume work on Dasu hydropower dam

ISLAMABAD: Chinese firm China Gezhouba Group Company (CGGC) has announced to resume work on the Dasu Hydropower project on Monday (today) that was halted several months ago due to security concerns. The Chinese company has expressed satisfaction over the security

Chinese company to invest $2.4bn in Kohala hydel project

ISLAMABAD: A Chinese company signed agreement to invest $2.4 billion in the 1124 megawatt Kohala Hydel Power Project under China Pakistan Economic Corridor (CPEC). The government of Azad Jammu and Kashmir (AJK), and Chinese Three Gorges Company signed agreements related

Italian energy giant Eni divests Pakistan assets

ISLAMABAD: Italian multinational oil and gas company Eni has announced the sale of its Pakistan assets to Prime International Oil and Gas Company, a newly established joint venture (JV) between its local employees and Hub Power Company, the largest Independent Pakistani

Iconic toy Mr. Potato Head goes gender neutral

NEW YORK: The Mr. Potato Head brand is going gender neutral, the company that makes the popular plastic toy announced. Hasbro said in a statement it was dropping the honorific from the logo and packaging “to promote gender equality and

PIA pays $7mn for aircraft impounded in Malaysia

LONDON: The Pakistan International Airlines (PIA) has informed the London High Court that it has paid $7 million to aviation company Peregrine Aviation Charlie Ltd in the case pertaining to two jets leased by the Dublin-based AerCap. Malaysian authorities seized

Pfizer CEO sold $5.6 million in stock on day of vaccine announcement

WASHINGTON: Pfizer CEO Albert Bourla sold $5.6 million of his stock in the US pharmaceutical company on the same day it announced promising results for its COVID-19 vaccine. The company has reportedly said the sale was part of a pre-arranged

Karachi’s power crisis

There is no respite from the prolonged power outages faced by the people of Karachi. The city’s sole power distributor, K-Electric, has increased the number of load shedding hours and the situation has worsened. A public hearing by the power

Biotech company Moderna says coronavirus vaccine is ready for trial

BOSTON: US biotech firm Moderna said it has shipped an experimental coronavirus vaccine to US government researchers just six weeks after it started working on the immunisation. Moderna said in a statement that the first batch of its novel coronavirus

65 heritage trees cut down by Lahore Electric Supply Company

LAHORE: over 65 old trees were chopped down by the Lahore Electric Supply Company (LESCO) in the green belt starting from Jallo Morr on Thursday. The trees have been cut down by the electricity company as part of a mega

Ambani’s company makes record profit on customers strength

MUMBAI: Indian oil-to-telecommunications group Reliance Industries Ltd reported another quarterly record profit, as double-digit growth at its consumer-facing companies cushioned decline in its energy divisions. Revenue at its retail and telecommunications units jumped more than 25 percent each in the

Saudi Aramco listing

Saudi Aramco, the world’s most profitable organisation, finally has a price tag. After years of delay, Saudi Arabia has placed a value of $1.71 trillion on the state-owned energy giant – making it also by far the most valuable company

Facebook launches new company logo, corporate branding

SAN FRANCISCO: Facebook on Monday unveiled a new logo for the company to distinguish it from its apps. The social media company said it would start using the new brand within its products and marketing materials, and would update the