Business News
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PRL launches $1.7b refinery upgrade project | The Express Tribune
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[ad_1] KARACHI: Pakistan Refinery Limited (PRL) has kick-started a refinery expansion and upgrade project (REUP) costing $1.7 billion in a bid to double its installed crude processing capacity to 100,000 barrels per day and boost the production of products with high profit margins as well as low-sulphur fuel including Euro-II and Euro-V petrol and diesel.…
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Elon Musk’s xAI eyes funds worth billions to challenge rival OpenAI
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[ad_1] Elon Musk gestures during a gathering. — AFP/File Elon Musk’s business, xAI, is reportedly in talks to acquire a significant funding round of up to $6 billion, with a proposed valuation of $20 billion, in an attempt to transform the artificial intelligence (AI) landscape. This information, which was made public by the Financial Times…
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Mercedes partners up with Binghatti for Dubai’s Mercedes-Benz Places tower
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[ad_1] Mohammad Binghatti and Britta Seeger signed the agreement. — Gulf Today/file German luxury car brand Mercedes-Benz is partnering up with United Arab Emirates (UAE) developer Binghatti to create the Mercedes-Benz Places tower in Dubai, Gulf Today reported on Friday. The towering structure combines Mercedes-Benz’s futuristic pattern of recurring three-point stars with an elliptical form that prominently…
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PM Kakar requests Chinese counterpart to rollover $2bn loan
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[ad_1] A money changer counts US dollar banknotes at a currency exchange office in Ankara, Turkey November 11, 2021. — Reuters Caretaker Prime Minister Anwaar-ul-Haq Kakar Friday wrote a letter to his Chinese counterpart Li Qiang, requesting him to rollover Pakistan’s $2 billion loan for a year, sources told Geo News. According to the sources,…
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China expects fresh consumption record with 9b trips in world’s largest migration
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[ad_1] Travelers at the Hongqiao Railway Station ahead of Lunar New Year in Shanghai, on Jan. 23. — Bloomberg China is anticipating a fresh consumption record as it braces for the world’s largest annual human migration. The upcoming Spring Festival travel rush, known as chunyun, is set to witness a staggering 9 billion passenger trips,…
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Cabinet questions FBR restructuring | The Express Tribune
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[ad_1] ISLAMABAD: A majority of members in a federal cabinet body have identified flaws in the finance minister’s plan to restructure the Federal Board of Revenue (FBR), finding it not aligned with the requirements to end corruption and misuse of power by taxmen and lacking substance to enhance collection. The sub-committee of the federal cabinet…
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Work expedited on cannabis authority | The Express Tribune
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[ad_1] ISLAMABAD: The government has expedited progress on establishing the Cannabis Control and Regulatory Authority (CCRA) to regulate marijuana crop for medical and industrial use. Two projects had been launched during the previous government of Pakistan Tehreek-e-Insaf (PTI) for producing marijuana for medical and industrial purposes. Now, the present government has decided to set up…
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Robitussin cough syrup recalled by Haleon in US due to contamination
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[ad_1] A syrup being poured into a spoon. — Robitussin Robitussin cough syrup supplied nationally is being recalled by Haleon owing to microbial contamination that may cause fatal infections in susceptible individuals, the US division of the global consumer health company based in the UK announced this week. “Use of the recalled products could potentially result…
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What does Mark Zuckerberg have that Elon Musk doesn’t?
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[ad_1] Elon Musk (left) and Mark Zuckerberg gesture during separate gatherings. — AFP/File Elon Musk owns multi-billion businesses with thousands of people following him but he lacks one thing that some of his colleagues especially Mark Zuckerberg in the tech sector do not and that is greater power. Last week, Musk publicly threatened to continue working…
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Measures to boost FDI proposed | The Express Tribune
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[ad_1] KARACHI: Economic experts and investors in Pakistan have presented proposals to boost foreign direct investment (FDI) in the country. These recommendations reiterate the importance of creating a secure and healthy environment, simplifying regulations, and the provision of attractive incentives to investors. In discussions with The Express Tribune, experts highlighted the significance of simplifying regulations…
