Latest news with #jointventures
Arab News
5 days ago
- Business
- Arab News
Pakistan invites Japan to join mineral sector drive through joint ventures, value addition
ISLAMABAD: Pakistan has invited Japan to invest in its minerals sector through joint ventures focused on exploration, processing and value addition, with commerce minister, Jam Kamal, holding high-level meetings in Tokyo this week, the government said in a statement on Thursday. The outreach is part of Pakistan's broader push to attract foreign investment and strengthen its struggling economy. Islamabad has prioritized mining and minerals as a key sector for economic diversification, and is seeking Japanese collaboration to unlock its untapped resource potential while aligning with Tokyo's industrial needs. 'Our mineral sector remains largely underexplored,' Kamal said during meetings with officials from the Japan International Cooperation Agency (JICA), the Japan External Trade Organization (JETRO) and the Japan–Pakistan Business Cooperation Committee (JPBCC). 'We are offering Japanese partners the opportunity to participate in high-value ventures that can help build sustainable supply chains for critical minerals,' he added. The minister highlighted reserves of rare earth elements like copper, gold and other industrial minerals, positioning Pakistan as a strategic destination for resource-based cooperation. He emphasized Pakistan's openness to technology transfer, public-private partnerships and long-term frameworks that support mutual gains. In his conversation with JICA's Senior Vice President HARA Shohei, Kamal underlined the importance of aligning future development cooperation with Pakistan's industrial modernization and export-oriented growth. He acknowledged Japan's long-standing contribution of over $11 billion in areas such as energy, transport and vocational training, and called for expanded technical assistance in mineral logistics, industrial clusters and green technologies. Meeting JETRO President Susumu Kataoka and Executive Vice President Kazuya Nakajo, the minister urged greater Japanese investment in Pakistan's Special Economic Zones and export-oriented sectors. He called on JETRO to promote Pakistan's mineral sector to Japanese industry through seminars, business-to-business (B2B) outreach, and participation in trade exhibitions. At a luncheon hosted by JPBCC, Kamal encouraged deeper B2B ties and sought active Japanese input for the upcoming Pakistan-Japan Business Dialogue. 'Our doors are open,' he said. 'We see Japan not only as a partner but as a catalyst for transforming Pakistan's economic base. With your advanced technology and our resource potential, we can build future-proof industries together.' Pakistan has in recent years stepped up its diplomatic engagement with key economic partners to promote sectors such as information technology, light engineering and mineral development. The Tokyo visit marks a fresh attempt to align its resource-led ambitions with Japan's technological strengths and global supply chain priorities.
Bloomberg
6 days ago
- Business
- Bloomberg
Telefonica Chairman's M&A Ambitions Face Old Debt Challenges
Telefonica SA 's new chairman is running into an old problem. After the better part of a decade focused on cutting debt, the company still doesn't have the cash it needs to chase deals and growth. The Spanish phone carrier is looking for diverse ways to simplify its structure by buying out partners in joint ventures and reorganizing certain operations to make itself more flexible for potential deals in the European telecommunications industry. Executive Chairman Marc Murtra, who took over in January, has ordered a strategic review to be unveiled in the second half of the year.
Zawya
23-05-2025
- Business
- Zawya
Egypt: EGPC, Ieoc Exploration's daily production of petroleum liquids surpasses 110,000 barrels
Arab Finance: The Egyptian General Petroleum Corporation (EGPC) and Ieoc Exploration BV, an Eni affiliated company, announced a total daily production exceeding 110,000 barrels of petroleum liquids through their joint ventures, Belayim Petroleum Company (Petrobel) and Agiba Petroleum Company, as per a statement. Production from the Sinai concession area surpassed 60,000 barrels of oil daily, a level not reached since 2023. This milestone was mainly attributed to the successful startup of the West Ferran-2 well, with a potential daily output of nearly 4,000 barrels of oil. This is besides the positive results from recent onshore and offshore maintenance campaigns. Agiba Petroleum's concession areas in the Western Desert also contributed, with a daily production exceeding 30,000 barrels of oil. The recorded growth is backed by the startup of new wells such as Mel-123 and SMel-C4, along with successful maintenance operations and non-rig interventions at wells MWD-8 and Zahra-7. This contributed with an additional daily capacity of 4,000 barrels of oil, and associated gas production exceeding 5 million cubic feet on a daily basis. Meanwhile, Ieoc Exploration BV added around 20,000 barrels of liquids per day, bringing its total production to over 110,000 barrels of liquids daily. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
21-05-2025
- Business
- Zawya
NMDC Energy, China's Hilong explores JVs in coating, materials works
Abu Dhabi-listed NMDC Energy and China's Shanghai Hilong Shine New Materials Co. (Hilong) signed a memorandum of understanding to explore joint ventures for coating and materials works in the UAE and Saudi Arabia. The Chinese company manufactures products related to high-end coating and new materials for industrial heavy-duty anti corrosion, NMDC Energy said in a statement. This includes oil country tubular goods coating and materials, pipeline coating and materials, concrete weight coating, and internal pipeline inspection. NMDC Energy reported a 25 percent year-on-year increase in net profit to AED 217 million in the first quarter of 2025, thanks to a 75 percent annual surge in revenues. (Writing by P Deol; Editing by Anoop Menon) ( Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.
Wall Street Journal
15-05-2025
- Business
- Wall Street Journal
Allianz Sticks to Guidance After Profit Misses Views on Higher Costs
Allianz ALV 0.28%increase; green up pointing triangle said it is on track to achieve its outlook for the year after first-quarter profit came in below market expectations, dragged by higher costs. Europe's largest insurer by market capitalization on Thursday reported a net profit attributable to shareholders of 2.42 billion euros ($2.71 billion) for the period compared with 2.475 billion euros a year prior and a company-compiled consensus of 2.70 billion euros. The result was dragged by higher non-operating expenses and a one-off tax provision linked to the 2.6 billion-euro sale of its stake in two Indian joint ventures.
