KARACHI, PAKISTAN: Reliance Petrochem Industries has secured a $145 million export order for Europe, and dispatched the first ever shipment of Made in Pakistan petrochemicals including white oils and textile oils. “First time in history ‘Made in Pakistan’ petrochemicals were launched in Barcelona Spain. We made this first export by bulk ship from Pakistan,” the…
Pakistan LNG Limited seeks 9 LNG cargoes of 140,000 cubic meters each
KARACHI: Pakistan LNG Limited (PLL) has invited bids for the supply of nine LNG cargoes of 140,000 cubic meters each on fixed dollar rate and tendering schedule for deliveries are from July 08 to August 28. The last date for bidding has been set at June 2nd, PLL noted in the tender. The PLL has…
What is a Global Depositary Receipt (GDR)?
A global depositary receipt (GDR) is a bank certificate issued in more than one country for shares in a foreign company. GDRs list shares in two or more markets, most frequently the U.S. market and the Euromarkets, with one fungible security, Investopedia suggests. GDRs are most commonly used when the issuer is raising capital in…
What is American depositary share (ADS)
An American depositary share (ADS) is an equity share of a non-U.S. company that is held by a U.S. depositary bank and is available for purchase by U.S. investors. The entire issuance of shares by a foreign company is called an American Depositary Receipt (ADR), while the individual shares are referred to as ADSs, Investopedia…
The Nasdaq Stock Market
The Nasdaq Stock Market, a trusted pillar of capital markets and innovation – providing US equities markets liquidity, resiliency and transparency to propel investment ideas into fruition. Solutions designed with the imperative to address evolving investor and issuer needs while elevating the trading experience for all market participants through a comprehensive suite of functionalities, order…
What is Carbon Capture and Storage (CCS)
Carbon capture and storage (CCS) or carbon capture and sequestration is the process of capturing emitted carbon dioxide (CO. 2), transporting it to a storage site, and depositing it where it will not enter the atmosphere, according to Wikipedia. Carbon capture, utilisation and storage, or CCUS, is an important emissions reduction technology that can be…
What is Memorandum of Understanding (MoU)
A memorandum of understanding is an agreement between two or more parties outlined in a formal document. It is not legally binding but signals the willingness of the parties to move forward with a contract, Investopedia suggests. The MOU can be seen as the starting point for negotiations as it defines the scope and purpose…
What is Initial Public Offering (IPO)?
The Initial public offering (IPO) is when a company issues common stock or shares to the public for the first time. It is the process by which a private company can go public by sale of its stocks to general public. It could be a new, young company or an old company which decides to…
S&P Global Ratings Reaffirms Halyk Bank’s rating; outlook stable
LONDON, UK: S&P Global Ratings has affirmed its ‘BB/B’ long- and short-term issuer credit ratings and its ‘kzA+’ Kazakhstan scale rating on Halyk Savings Bank of Kazakhstan. The outlook is stable. S&P Global Ratings has noted that the Bank has reduced its stock of problem assets substantially over the past several years, and believes that…
Total SE to change company’s name to TotalEnergies
PARIS, FRANCE: Shareholders have approved the resolution to change the company’s name from Total SE to TotalEnergies, thereby anchoring its strategic transformation into a broad energy company in its identity. In tandem with this name change, TotalEnergies is adopting a new visual identity. “Energy is life. We all need it and it’s a source of…
Croatia Air force to buy 12 used Rafale aircraft
SAINT-CLOUD, FRANCE: Croatia has selected the Rafale for its Air Force, following an international call for tenders as part of its Multi Role Fighter Aircraft (MRFA) program, a news release said. The contract between the French and Croatian authorities will cover the acquisition of 12 Rafale previously in service with the French Air Force, as…
Posten Norge stops sale of Bring Frigo AB to Germany based Aurelius
OSLO, NORWAY: Posten Norge AS has terminated the agreement with Aurelius. Bring Frigo AB will continue as a standalone subsidiary of Posten Norge AS, and Posten Norge AS will continue the realisation of the plans for the company’s future development. On 29 March 2021, Posten Norge AS announced that the company Bring Frigo AB in…