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Thursday, October 25th, 2018


Russia Aims to Double Its Global LNG Market Share By 2025

ISLAMABAD; Oct 25, 2018: Russia seeks to double its liquefied natural gas (LNG) export market share in less than a decade. While Russia tops the list of countries having huge natural gas reserves, it produced less LNG than what the United States did in 2016. Also, Russia’s share in the LNG global export market was about 6 percent in 2017. Qatar led the pack as major exporter of LNG. Sanctions-hit Russia now aims to produce more LNG with installation of new facilities, and increase its LNG export as demand for LNGRead More

Govt Allows Non-Filer Overseas Pakistanis to Purchase Property

ISLAMABAD; Oct 25, 2018: The government has removed the condition of being a tax-filer for overseas Pakistanis to purchase properties in the country and individuals acquiring properties through inheritance. The decision was taken to alleviate hardships faced by non-resident individuals investing in the real estate sector. The condition which was imposed by previous government increased challenges for overseas Pakistanis. The decision issued via a circular on Wednesday reveals that restriction on purchase/transfer of property having value exceeding Rs5 million by non-filers will also not apply to legal heirs acquiring propertyRead More

Israel Receives $777M Contract From India to Supply Missile Defense System For Naval Ships

ISLAMABAD; Oct 24, 2018: Israel’s prime aerospace and aviation manufacturer, the Israel Aerospace Industries (IAI), announced Wednesday it has received a $777 million contract from India to supply long range surface-to-air missile (LRSAM) defense systems for seven of its naval ships. Indian state-owned company Bharat Electronics Limited inked the deal with IAI, according to UPI. This latest deal comes a year after IAI signed a $2 billion to supply India’s army and navy with missile defense systems, followed by a $630 million contract to provide Barak-8 surface-to-air missile systems toRead More

Govt Okays Sale of JF-17 Fighter Aircraft to Nigerian Air Force for $184m

ISLAMABAD; Oct 24, 2018: The Economic Coordination Committee (ECC) of the Cabinet has approved sale of three JF-17 aircraft to Nigeria for a sum of $184.3 million against issuance of a certificate of sovereign guarantee rather than sovereign bank guarantee which the Nigerian government has accepted. The Ministry of Defense Production informed the ECC that the Pakistan Aeronautical Complex (PAC) Kamra had signed a contract for the sale of three JF-17 aircraft and associated package to Nigerian Air Force. According to the contract, PAC Kamra shall present the sovereign bankRead More