Express
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Dewan Farooque Motors to assemble Kia vehicles | The Express Tribune
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[ad_1] KARACHI: Dewan Farooque Motors has entered into a technology licence agreement (TLA) with South Korea’s automaker Kia Corporation for the production and assembly of its vehicles in Pakistan, the company announced in a notification sent to the Pakistan Stock Exchange on Monday. With the TLA, Dewan Farooque Motors will set up an auto assembly…
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Mega IT Park project launched | The Express Tribune
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[ad_1] KARACHI: Federal Ministry of Information Technology and Telecommunication (MOITT) Syed Aminul Haque on Monday laid the foundation stone of Pakistan’s largest Information Technology (IT) Park project in Karachi. The IT Park project aims to become a gateway for innovation in Pakistan and hopes to be complete by 2026, costing approximately Rs42 billion. During the…
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COP27: world stage for impactful climate change? | The Express Tribune
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[ad_1] ISLAMABAD: “The world is still falling short of the Paris climate objectives, with no credible pathway to 1.5°C,” noted the United Nations Environment Programme (UNEP) in its recent Emissions Gap Report, published on October 27, 2022. According to the flagship report, the nationally determined contributions (NDCs) or pledges taken by countries since last year…
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Climate change: time is running out | The Express Tribune
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[ad_1] ISLAMABAD: The recent flash floods, with global warming and the resultant climate change holding primary responsibility, affected 33 million Pakistanis and is estimated to run losses of over $30 billion. Unfortunately, by using the alibi that we emit less than 1% of greenhouse gases (GHG) we are attempting to externalise the issue, claiming that…
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Dar’s dilemma: challenges on external front persist | The Express Tribune
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[ad_1] KARACHI: Ishaq Dar’s re-entry at the helm of economic and financial decision-making was expected to result in not only a strong recovery of Pakistani rupee, but also a reduction in the exchange rate volatility. Several pundits expected the rupee-dollar exchange rate to fall below 200 and ultimately reduce currency market speculation that often leads…
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All Chinese CPEC workers to move in bullet-proof cars | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan and China have agreed to use bullet-proof vehicles for all outdoor movement of the Chinese nationals working on the China-Pakistan Economic Corridor (CPEC) projects in order to protect them from terrorist attacks. According to the draft minutes of the 11th Joint Cooperation Committee (JCC) of the CPEC, both the sides have also…
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Switzerland to face difficult years | The Express Tribune
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[ad_1] GENEVA: The threat of recession in the euro zone and beyond, an energy supply squeeze and the eroding effect of inflation on purchasing power mean Switzerland faces difficult years ahead, Justice Minister Karin Keller-Sutter told the Neue Zuercher Zeitung newspaper. “I consider this mixed situation to be very difficult,” she said in comments published…
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Honda launches new EV model | The Express Tribune
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[ad_1] TOKYO: Japan’s Honda Motor Co unveiled the second model of its new China-only electric vehicle (EV) lineup on Saturday, targeting the fast-growing, battery-driven car segment in the world’s largest auto market. The Japanese automaker said last year it planned to roll out EV models under a new brand called “e:N Series” over the next…
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Govt eyes $13b package after PM’s China visit | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan has got assurances of a $13 billion financial package from China and Saudi Arabia, including $5.7 billion in fresh loans, Finance Minister Ishaq Dar said on Friday in a statement that would help stabilise the reserves and the rupee. The $13 billion package is equal to 38% of the estimated gross external…
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PSO to recover Rs594b in circular debt | The Express Tribune
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[ad_1] ISLAMABAD: The supply of expensive liquefied natural gas (LNG), during the past four seasons, to domestic consumers has resulted in a steep hike in circular debt, trapping gas-utilities and Pakistan State Oil (PSO). The gas sector is currently facing circular debt of Rs1.5 trillion, with LNG being the major contributing force. Additionally, captive powerplants…
