Hussain Dawood lauds Pak-China partnership at WEF summit
Hussain Dawood was invited to speak at a Special Dialogue with Li Qiang, Premier of the People's Republic of China, during the World Economic Forum's 16th Annual Meeting of the New Champions.
During the session Dawood reaffirmed the enduring all-weather friendship between China and Pakistan. He shared that, in 2013, he was privileged to be part of the delegation to China led by Prime Minister of Pakistan Shehbaz Sharif, which laid the foundation for the China-Pakistan Economic Corridor (CPEC). This landmark initiative has delivered sustained prosperity to both countries, with $62 billion invested in energy and infrastructure projects connecting Kashgar in western China to the deep-sea port of Gwadar in Pakistan.
In his remarks, Dawood reiterated Engro's contributions to CPEC projects with key Chinese partners, including China Machinery Engineering Corporation. He further underscored that the cornerstone of these partnerships is mutual trust and openness to long-term planning.
Engro's active participation in transformational projects with Chinese partners reflects its commitment to inclusive progress that unlocks a brighter future for all.
Copyright Business Recorder, 2025
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Express Tribune
6 hours ago
- Express Tribune
Chinese air force chief lauds PAF's performance in conflict with India
Chinese Chief of Staff of the PLAAF Lieutenant General Wang Gang in meeting with Air Chief Marshal Zaheer Ahmed Baber Sidhu in Islamabad. Photo: ISPR Listen to article The Chief of Staff of China's People's Liberation Army Air Force (PLAAF), Lt General Wang Gang, praised the Pakistan Air Force (PAF) leadership for its professional acumen and strategic foresight while paying tribute to the exemplary performance of the PAF during the recent conflict with India. A high-level defence delegation, led by Lt General Gang, visited Chief of the Air Staff Air Chief Marshal Zaheer Ahmed Baber Sidhu at Air Headquarters in Islamabad on Tuesday, the military's media wing reported. According to the Inter-Services Public Relations (ISPR), matters of mutual interest, regional security dynamics, and avenues for enhanced bilateral cooperation, particularly in airpower and operational synergy, were discussed during the meeting. Also Read: Chinese envoy praises PAF for 'commendable utilisation of Chinese-origin equipment' Lt General Gang praised PAF pilots for delivering a decisive and measured response under the resolute leadership of Air Chief Marshal Sidhu, describing it as a textbook example of precision, discipline, and courage in the face of unprovoked aggression, the ISPR said. 'He expressed deep appreciation for the high state of operational readiness and the cutting-edge capabilities of the Pakistan Air Force,' it added. The Chinese air chief was particularly impressed by the PAF's seamless integration of Multi-Domain Operations, calling it a hallmark of modern air warfare. He conveyed the PLAAF's keen interest in learning from the PAF's battle-proven experience in Multi-Domain Operations, the statement read. On the occasion, Air Chief Marshal Sidhu warmly welcomed the distinguished guests and reiterated that Pakistan and China enjoy historic, time-tested ties rooted in mutual trust, strategic convergence, and shared aspirations for regional peace and stability, it added. Read More: South African Air Force chief visits Pakistan According to the ISPR, Lt General Gang was given a comprehensive briefing on the PAF's modern force structure, strategic initiatives, and the evolution of its operational doctrine. Air Chief Marshal Sidhu also reaffirmed the strong bond of friendship between the two air forces and reiterated the PAF's commitment to expanding cooperation in training, technology, and operational domains. 'The meeting stands as a testament to the shared resolve of Pakistan and China to advance their time-tested strategic partnership through deepened cooperation and innovation-driven collaboration,' the statement concluded.
Business Recorder
11 hours ago
- Business Recorder
India aims to import about 10% of its cooking gas from US from 2026, say sources
NEW DELHI: India plans to source about 10% of its cooking gas imports from the U.S. beginning in 2026 as part of a broader effort to boost energy purchases to narrow its trade gap with Washington, four industry refining sources familiar with the matter said. The world's third biggest oil importer and consumer relies heavily on Middle Eastern producers of liquefied petroleum gas (LPG), with more than 90% of its roughly 20.5 million metric tons of imports in 2024 coming from the region. LPG is a mix of propane and butane used for cooking fuel and is mainly imported by state retailers Indian Oil Corp, Bharat Petroleum Corp and Hindustan Petroleum Corp and sold at a subsidised price to households. India had rarely bought U.S. LPG in the past due to higher freight costs, but state retailers began buying U.S. LPG in May after China imposed retaliatory import tariffs on U.S. propane. India plans to eliminate import tax on U.S. propane and butane used for making LPG, sources previously told Reuters. India has pledged to increase U.S. energy purchases by $10 billion to $25 billion in the near future and the two nations in February agreed to target $500 billion in bilateral trade by 2030. India ready for trade deals but not to meet deadlines, minister says India's import of U.S. oil has more than doubled this year, data obtained from sources showed. 'We are looking to the U.S. as a reliable alternative source of both crude and LPG. We need to diversify our sources of LPG,' said one of the sources who declined to be named because he was not authorised to speak to media. India has been diversifying its crude oil suppliers to reduce geopolitical risks and support its growing refining capacity. However, its LPG suppliers remain concentrated in the Middle East, typically purchased on a free-on-board (FOB) basis. Chinese import tariffs on U.S. propane, currently at 10%, have opened up arbitrage opportunities for Indian buyers, further incentivising a shift toward U.S. cargoes, a second source said. 'We would prefer to import from the U.S. on a delivered basis to mitigate freight risks — similar to how we already buy U.S. crude,' he said. Indian state refiners are seeing annual LPG demand growth of about 5% to 6%, with total imports projected to rise to 22 million tonnes to 23 million tonnes by 2026, two of the sources said. India's oil ministry and the three state fuel retailers did not immediately respond to requests for comment. Pricing will be key to determining the exact volume of U.S. LPG imports, a third industry source said. The International Energy Agency expects India's LPG demand to grow at an average of 2.5% between 2024 and 2030, reaching 1.2 million barrels per day, or roughly 37.7 million tonnes.
Express Tribune
11 hours ago
- Express Tribune
China, Hong Kong stocks rise on policy steps to ease price wars
China and Hong Kong stocks rose on Tuesday, tracking broader gains in Asia, as investors looked past the latest shift in US President Donald Trump's tariff plans and welcomed Beijing's new measures to curb price wars. China's blue-chip CSI300 climbed 0.7% by the lunch break, while the Shanghai Composite gained 0.6%. Hong Kong benchmark Hang was up 0.8%. The market reaction in Asia was rather muted after US President Donald Trump on Monday began telling trade partners - from powerhouse suppliers like Japan and South Korea to minor players - that sharply higher US tariffs will start on August 1, marking a new phase in the trade war he launched earlier this year. China's top leaders pledged last week to step up regulation of aggressive price-cutting by Chinese companies, as the world's second-biggest economy struggles to shake off persistent deflationary pressures. Shares of solar manufacturers led gains onshore, with Tongwei up 10%, after China's industry ministry pledged to curb disorderly low-price competition in the photovoltaic industry. Deeper policy efforts to curb excessive competition are expected to help rebalance industrial supply and demand, support a rebound in producer prices, and improve long-term earnings expectations for A-shares, analysts at Huaxi Securities said in a note. Semiconductor also rose, up 1.1%, as a slew of companies posted upbeat profit alerts. Consumer-related shares climbed in Hong Kong, as subsidies from food delivery platforms boosted consumer demand. Xiabuxiabu a hotpot restaurant, rose nearly 7%. Hang Seng Tech Index HSTECH was up 1.3%. Traders are watching for China's key inflation data due on Wednesday to gauge the health of the world's second-largest economy in the face of persistent deflation pressure and trade risks.
