China’s crude oil imports from Russia reached a record high in 2024, rising 1% from 2023, while shipments from Saudi Arabia fell 9%, according to data released Monday. Refiners prioritized reduced Russian supplies to cushion weak margins. Data from the General Administration of Customs showed that China imported 108.5 million metric tons of crude from … Read more
Islamabad: Pakistan is set to issue panda bonds by June 2025 with the aim of raising nearly $200 million in investments from Chinese investors, Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb said on Sunday. In an interview with TVB News in Hong Kong, he explained that the bonds were part of Pakistan’s broader … Read more
Pakistan and China signed MoUs worth around US$250 million to enhance cooperation in the medical equipment and surgical instruments sector at a business matchmaking conference in Beijing. Silk Road Assistance Industrial Internet platform, which specializes in cross-border business advisory services, has concluded agreements with Pakistani dental and surgical instrument manufacturer Sawwat and Chinese pharmaceutical company … Read more
The US government has awarded Moderna $590 million to accelerate the development of its bird flu vaccine, as part of efforts to address rising infection rates in humans. This funding builds on $176 million provided by the Department of Health and Human Services (HHS) last year to advance late-stage trials of a messenger RNA (mRNA)-based … Read more
Saudi Mining Minister Bandar Al-Khorayef said that the mining company Manara Metals is considering investing in the Pakistani Reko Diq mine. The Saudi Development Fund (SDF) can contribute more than $100 million to mining infrastructure in Pakistan. “Part of what we are looking at is how we can also help Pakistan with some infrastructure,” Al … Read more
Afghanistan became the largest importer of Russian flour last year, doubling its purchases, according to Russia’s state agricultural export agency, Agroexport. The agency stated that Afghanistan imports flour due to insufficient local production capacity to meet demand. The increase in imports came as Russia strengthened its relations with the Afghan Taliban government. Last month, the … Read more
Frontier Holdings Ltd (FHL), a foreign oil and gas exploration company, has written to the Petroleum Department requesting intervention to implement an international court ruling against Petroleum Exploration (Pvt) Ltd (PEL), a local energy company. According to a news report, the letter, sent to the Petroleum Division’s Director General of Petroleum Concessions, highlights FHL’s victory … Read more
Flows via Roshan Digital Account (RDA) rose to $203 million in December 2024, representing a 9% increase from $186 million recorded in November, according to data released by the State Bank of Pakistan (SBP) on Saturday. Of the total inflows in December, $13 million was repatriated, while $113 million was used domestically. Net repatriable liabilities … Read more
The Walt Disney Company is donating $15 million to response and rebuilding efforts amid ongoing Southern California wildfires. Likewise, Paramount is donating $1 million to organizations on the ground, including the Los Angeles Fire Department Foundation, California Fire Rescue Foundation, Red Cross, Direct Relief, World Central Kitchen, and Best Friends Animal Society. Meanwhile, CAA has … Read more
“Wicked” is very, very popular – on the big screen, and now on video on demand. In a rare show of transparency regarding its final earnings, Universal said the big-budget musical grossed $26 million on its first day and $70 million in its first week of digital release in the United States and Canada. “Wicked” … Read more