According to two individuals with firsthand information, India’s Ola Electric will start talks next week with investors in Singapore and the United States about its potential stock market offering, the first of a series of meetings for its up to $1 billion IPO. According to the sources, Ola, which developsRead More →
Pakistan submitted its federal budget for the coming fiscal year, one of three indicators that the International Monetary Fund (IMF) would consider before releasing at least some of the $2.5 billion still owed under a credit programme that expires this month. The cash-strapped country is taking steps to secure aRead More →
The International Energy Agency (IEA) predicted on Thursday that for the first time ever, this year’s global investment in solar power will surpass that in oil output. By 2023, the International Energy Agency estimates that $380 billion will be invested in solar energy, vs $370 billion for oil exploration andRead More →
Part owner and Australian technology entrepreneur Mike Cannon-Brookes has salvaged the failed US$20 billion Sun Cable renewable energy project, the company’s administrators announced on Friday (May 26). Sun Cable’s voluntary administrators will now collaborate with Helietta Holdings 1 Pty Ltd, a business linked with Cannon-Brookes’ Grok Ventures, to execute theRead More →
Toyota Motor Corporation said on Friday that it will issue 100 billion yen ($740.5 million) in sustainable bonds. The world’s largest carmaker by sales said it will use the bond proceeds for R&D and capital investment in battery electric cars, fuel-cell electric vehicles, and their components, among other things.Read More →
Due to Pakistan’s ongoing economic crisis, the automotive sector is still in a nightmare slide. According to the most recent statistics from the Pakistan Automotive Manufacturers Association (PAMA), automakers (association members only) sold just 4,463 vehicles in April 2023, a 52% month-over-month and 80% year-over-year reduction. With 1,948 vehicles sold,Read More →
As political unrest plagues markets, the Pakistani rupee plunged to its all-time low of 300 versus the US dollar during intraday trade today after dipping below 296 at 12:10 PM. The interbank rate lost Rs. 10 during the first few hours of intraday trade today, falling to Rs. 300.25 atRead More →
ISLAMABAD: The release of Rs 60 billion in finance for Pakistan State Oil (PSO) to be able to satisfy its financial commitments was authorised at a meeting of the Economic Coordination Committee (ECC) of the federal cabinet, among other decisions. The bulk of this money will come from commercial banksRead More →
ISLAMABAD: On Tuesday, the Federal Cabinet, presided over by Prime Minister Shehbaz Sharif, authorised the immediate implementation of the Energy Conservation Plan. At a press conference in Islamabad with other cabinet members, Minister for Defence Khawaja Asif highlighted key aspects of the energy conservation plan. He added that under theRead More →
Pakistan is anticipated to make debt repayments of more than $1 billion to two international commercial banks early next month, despite the government’s challenging effort to avert sovereign default and the fact that there aren’t very many gross foreign currency reserves remaining. According to sources in the ministry of finance,Read More →
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