The Engineering Development Board (EDB) has granted Regal Automobiles a licence to assemble the country’s first electric SUV at its Lahore plant. The locally assembled electric SUV, the Seres 3, would be available in two variants: the Seres 3 (3.5), equipped with a 49kWh battery and a 5-seater capacity, and the Seres 3 (4.0), featuring a 54kWh battery with the same five-seater capacity. The Ser
PPL Asia E&P B.V. (PPL Asia), a subsidiary of Pakistan Petroleum Ltd (PPL), has reached an amicable $6 million settlement with Midland Oil Company (MdOC), a state-owned Iraqi oil entity, for Block-8 in Baghdad. This settlement marks the conclusion of their Exploration, Development and Production Service Contract (EDPSC) for Block-8 in Iraq, which expired in May 2022. PPL, in a stock filing
The Competition Commission of Pakistan (CCP) has approved the acquisition of 100 per cent equity shares of the National Security Printing Company Ltd (NSPC) by Pakistan Security Printing Corporation (Pvt) Ltd (PSPC), marking a pivotal step in the reorganisation of Pakistan’s security printing sector. PSPC, a wholly-owned subsidiary of the State Bank of Pakistan (SBP), is entrusted with printi
Oil rose above $80 on Monday on Middle East tensions while equities slid in New York as political and interest rate concerns dented the recent rally. Brent North Sea crude, the international benchmark oil contract, went above $80 per barrel for the first time since late August. Oil futures have experienced recent volatility, with Brent slumping under $70 last month on concerns about weak dem
With an operational generation capacity of 3,262 megawatts, Pakistan has increased the share of electricity from nuclear power plants to a record 17.4 per cent in 2023 from 16.2pc in 2022, according to the World Nuclear Industry Status Report (WNISR) 2024. The report financed by German Federal Office for the Safety of Nuclear Waste Management, Friedrich Ebert Foundation, Heinrich Böll Foundatio