Turkey and Pakistan discuss defence industry and energy cooperation
Turkey and Pakistan have strong ties and Ankara expressed solidarity with Pakistan during the military conflict with India in May, angering India.
Turkish Foreign Minister Hakan Fidan and Defence Minister Yasar Guler met Pakistan's Prime Minister Shehbaz Sharif, Pakistan Air Force chief Air Marshal Zaheer Ahmed Babar Sidhu, and others during the visit.
In a statement after the talks, Turkey's defence ministry said Guler and Sidhu discussed regional defence and security, as well as areas of cooperation in the defence industry, and added Sidhu had conveyed Pakistan's desire to improve ties in advanced training operations and aviation technologies.
Guler also stressed the importance of joint projects in the defence industry, including on aviation and drones, it added.
Speaking at a press conference in Islamabad, Fidan said the two countries were evaluating the possibility of cooperating in mining, natural gas, oil, and rare elements, after agreeing in April to jointly carry out oil and gas exploration off Pakistan.
Ankara also has cordial ties with India, but after its support for Pakistan over the conflict, small Indian grocery shops and major online fashion retailers boycotted Turkish products, while New Delhi also cancelled Turkey-based aviation service provider Celebi's clearance over "national security" reasons.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
Elliott urges new BP chair to tackle operational underperformance
(Reuters) -Elliott Investment Management, one of BP's largest shareholders, on Monday called on the energy giant's new chairman Albert Manifold to "urgently address BP's shortcomings". "Elliott believes the company requires decisive and effective leadership to overcome its chronic operational underperformance," a spokesperson for Elliott told Reuters in an emailed statement. BP has slashed planned renewables spending in a major strategy shift aimed at boosting earnings and investor confidence, while its falling share price has fuelled takeover and break-up speculation. Bloomberg News first reported Elliott's comments earlier on Monday.
Yahoo
an hour ago
- Yahoo
Elliott urges new BP chair to tackle operational underperformance
(Reuters) -Elliott Investment Management, one of BP's largest shareholders, on Monday called on the energy giant's new chairman Albert Manifold to "urgently address BP's shortcomings". "Elliott believes the company requires decisive and effective leadership to overcome its chronic operational underperformance," a spokesperson for Elliott told Reuters in an emailed statement. BP has slashed planned renewables spending in a major strategy shift aimed at boosting earnings and investor confidence, while its falling share price has fuelled takeover and break-up speculation. Bloomberg News first reported Elliott's comments earlier on Monday. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
Patterson-UTI (PTEN) Loses 9.3% on Bearish Outlooks Ahead of Q2 Earnings
We recently published Patterson-UTI Energy, Inc. (NASDAQ:PTEN) is one of this week's top performers. Patterson-UTI saw its share prices decline by 9.3 percent week-on-week, closing at $5.94 on Friday versus the $6.55 on July 11, as investors sold off positions ahead of its second quarter earnings and bearish outlooks from analysts. Earlier last week, Stifel Nicolaus reduced its price target for Patterson-UTI Energy, Inc. (NASDAQ:PTEN) to $12 from $13 previously, but maintained a 'buy' recommendation for its stock. Meanwhile, Zacks Research posted a more bearish stance, giving it a 'sell' recommendation amid expectations of lower revenues due to poor drilling services and completion, among others. A drilling site in the wilds of nature, highlighting the company's commitment to exploration. According to Zacks Research, Patterson-UTI Energy, Inc. (NASDAQ:PTEN) is expected to post $1.21 billion in revenues for the second quarter of the year, or 10.37-percent lower than the $1.35 billion in the same period a year earlier, due to poor drilling services and completion, among others. Patterson-UTI Energy, Inc. (NASDAQ:PTEN) is expected to release the results of its second quarter earnings performance next Thursday, July 24. While we acknowledge the potential of PTEN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
