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Business Recorder
4 hours ago
- Business
- Business Recorder
Oil sector: Minister outlines key investment opportunities
KARACHI: Federal Minister for Petroleum Ali Pervaiz Malik outlined key investment opportunities in upstream exploration, pipeline development, and downstream processing, aligned with the global shift toward cleaner energy in a meeting with the Overseas Investors Chamber of Commerce and Industry (OICCI). OICCI held a detailed interactive session with Ali Pervaiz Malik, attended by senior business leaders from both local and multinational companies. Discussions focused on Pakistan's energy priorities and the path to long-term economic stability. The Minister reaffirmed the government's commitment to structural reforms, accelerated policy execution, and enhanced industry engagement. He cited recent resolution of refinery-sector challenges as a positive example of collaborative progress. During the meeting, the Minister outlined key investment opportunities in upstream exploration, pipeline development, and downstream processing, aligned with the global shift toward cleaner energy and invited the foreign companies for investment. He further highlighted the recent FDI-related successes in attracting foreign investment in the mining sector, which aim to unlock the country's untapped natural resources and drive future exports and industrial diversification. Yousaf Hussain, President of OICCI and CEO of Faysal Bank, emphasised the importance of policy consistency, technocratic execution, and a joint, collaborative roadmap to achieve deep-rooted economic stability and sustainable growth. He noted that closer engagement between the government, OICCI, and industry in both policy formulation and execution will be essential to delivering results and strengthening investor confidence. Copyright Business Recorder, 2025
Al Etihad
12 hours ago
- Business
- Al Etihad
UAE: World's largest gold frame unveiled at Watch and Jewellery Middle East Show
30 May 2025 20:57 SHARJAH (WAM) The 55th edition of the Watch and Jewellery Middle East Show is ongoing at Expo Centre Sharjah, delivering an exceptional showcase of cutting-edge and exclusive jewellery by Expo Centre Sharjah with support from the Sharjah Chamber of Commerce and Industry (SCCI), the exhibition stands as the region's largest and most influential gatherings in the luxury jewellery and timepiece the key highlights of this edition is the 'Union Frame' which has now entered the Guinness World Records as the world's largest gold frame. Making its debut at the exhibition, the opulent piece is entirely crafted from 21-karat pure gold and is introduced by Golden Arabia Jewellery under the theme 'Art that Tells the Story of a Nation'.The frame embodies a blend of fine craftsmanship and national pride, designed to communicate the enduring spirit of the UAE's union, anchored in a deep-rooted heritage and guided by forward-looking aspirations. This lavish creation encapsulates the UAE's historical and cultural landmarks in a single piece that narrates the story of the Union, from its ancient heritage to its prosperous unique piece features intricate gold carvings of iconic landmarks from all seven emirates, including the Sheikh Zayed Grand Mosque, symbolising tolerance and harmony; the Quran Roundabout in Sharjah, reflecting its role as a cultural hub in the Arab region, and Burj Khalifa in massive frame also features the historic Dhayah Fort in Ras Al Khaimah, the oldest of its kind in the region; Umm Al Quwain's Museum and Fort, Fujairah Fort showcasing traditional architecture, and the Ajman Museum. The 55th Watch and Jewellery Middle East Show, open to visitors over the weekend, from 1:00 pm to 10:00 pm, provides an exclusive platform to explore premium gold, jewellery, and luxury watch collections.
Time of India
a day ago
- Business
- Time of India
India to remain fastest-growing large economy in world for next 30 years: Piyush Goyal
Union Minister for Commerce and Industry Piyush Goyal said that India is set to remain the fastest-growing large economy in the world for the next 30 years. The commerce minister in his address at the CII Annual Business Summit 2025 in the national capital on Thursday highlighted India's economic performance. Goyal said the country has maintained a steady growth rate of 6-7 per cent and aims to push it further to 8 per cent at constant prices. He noted that despite global uncertainties, India remains one of the best-performing emerging markets. "Today, India holds the fourth-largest foreign exchange reserves in the world at about 690 billion dollars. Our inflation has remained below 4 per cent for the last three months. The Reserve Bank has done a commendable job balancing liquidity and currency management," Goyal said. The Minister emphasised India's appeal as an investment destination, noting that Indian companies have delivered nearly 20 per cent CAGR returns over the past 20-25 years. "FDI inflows are consistently breaking records. We are back on track on the growth trajectory, working through international trading relations," he said. Goyal also spoke about India's trade relations, stating that progress is being made on bilateral trade agreements with the USA and the 27-nation European Union bloc. He informed that negotiations have been launched with New Zealand and highlighted that India's FTA includes a forward looking investment clause, and investments from the Norwegian Pension Fund are not included in the FDI figure. The Union Minister cited the IMF projection that India will become the world's third-largest GDP by 2027. "Despite global volatility, uncertainty and complexity, India continues to power global growth through its own growth," he said. He also highlighted the cost-effectiveness of renewable energy in India, stating that renewable energy with storage is now available at Rs 3.30 per kilowatt hour. "Solar and wind plus storage make a compelling case for data centres to come to India," he added. Touching on inclusive growth, Goyal reaffirmed Prime Minister Narendra Modi's vision of dignity for every individual. Free healthcare, quality education and basic needs are being addressed. We are now seeing employment growth, and skill development centres are playing a key role. No child should be deprived, and no man should be left behind," he said. In conclusion, Goyal said India's growth is built on three tracks, strong macroeconomic fundamentals, global trust, and the aspirations of 140 crore Indians.
India Gazette
a day ago
- Business
- India Gazette
India to remain fastest-growing large economy in world for next 30 years: Piyush Goyal
New Delhi [India], May 30 (ANI): Union Minister for Commerce and Industry Piyush Goyal said that India is set to remain the fastest-growing large economy in the world for the next 30 years. The commerce minister in his address at the CII Annual Business Summit 2025 in the national capital on Thursday highlighted India's economic performance. Goyal said the country has maintained a steady growth rate of 6-7 per cent and aims to push it further to 8 per cent at constant prices. He noted that despite global uncertainties, India remains one of the best-performing emerging markets. 'Today, India holds the fourth-largest foreign exchange reserves in the world at about 690 billion dollars. Our inflation has remained below 4 per cent for the last three months. The Reserve Bank has done a commendable job balancing liquidity and currency management,' Goyal said. The Minister emphasised India's appeal as an investment destination, noting that Indian companies have delivered nearly 20 per cent CAGR returns over the past 20-25 years. 'FDI inflows are consistently breaking records. We are back on track on the growth trajectory, working through international trading relations,' he said. Goyal also spoke about India's trade relations, stating that progress is being made on bilateral trade agreements with the USA and the 27-nation European Union bloc. He informed that negotiations have been launched with New Zealand and highlighted that India's FTA includes a forward looking investment clause, and investments from the Norwegian Pension Fund are not included in the FDI figure. The Union Minister cited the IMF projection that India will become the world's third-largest GDP by 2027. 'Despite global volatility, uncertainty and complexity, India continues to power global growth through its own growth,' he said. He also highlighted the cost-effectiveness of renewable energy in India, stating that renewable energy with storage is now available at Rs 3.30 per kilowatt hour. 'Solar and wind plus storage make a compelling case for data centres to come to India,' he added. Touching on inclusive growth, Goyal reaffirmed Prime Minister Narendra Modi's vision of dignity for every individual. Free healthcare, quality education and basic needs are being addressed. We are now seeing employment growth, and skill development centres are playing a key role. No child should be deprived, and no man should be left behind,' he said. In conclusion, Goyal said India's growth is built on three tracks, strong macroeconomic fundamentals, global trust, and the aspirations of 140 crore Indians. (ANI)
Hindustan Times
a day ago
- Business
- Hindustan Times
Japan to send a senior official to Alaska energy conference
TOKYO, - Japan's Economy, Trade and Industry Minister Yoji Muto said on Friday that a senior official will attend an energy conference in Alaska early next week, where the proposed $44 billion Alaska LNG project is expected to be discussed. Takehiko Matsuo, the ministry's Vice-Minister for International Affairs, will participate in the Alaska Sustainable Energy Conference, scheduled for June 3-5, Muto said. The conference starts the day after talks scheduled by the Trump administration, which invited officials from Japan, South Korea and Taiwan to Alaska to discuss projects including a vast gas pipeline, as Asian governments consider U.S. investments in the hopes of relief from Washington's tariffs. It was not immediately clear whether Matsuo would attend the event on June 2, which will be hosted by Trump's energy czar, Interior Secretary Doug Burgum, and Energy Secretary Chris Wright. Muto said Japan has been in communication with the U.S. regarding pipeline construction and other issues, adding, "I expect meaningful discussions will be held this time as well." Japan's biggest LNG buyer JERA has sent an "expression of interest" to Glenfarne in the Alaska LNG Project, Bloomberg News reported on Friday. Glenfarne is the development partner of state-run Alaska Gasline Development Corporation . South Korea will send its Deputy Minister for Energy Policy and other energy ministry officials to the Alaska Sustainable Energy Conference, the ministry said on Thursday, as some Asian countries consider investing in the Alaska LNG project. Meanwhile, Friends of the Earth Japan said on Thursday that more than 150 groups from Japan and around the world sent an open letter to the Japanese Prime Minister urging the country not to join the costly Alaska LNG project. "For Japan, Alaska LNG is absolutely unnecessary. Japanese companies resold 37% of LNG they handled because Japan is buying LNG much more than it needs," said Hiroki Osada, a campaigner at Friends of the Earth Japan. "Starting another new LNG project is already a horrible decision considering this, but it is even more outrageous given it also exacerbates climate change beyond threshold, and destroys the indigenous way of life and the biodiversity in Alaska," he added.
