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Justice (R) Agha Rafiq Khan Appointed Chairman Board of Jahangir Siddiqui & Co. Ltd. (JSCL)
Politics

Justice (R) Agha Rafiq Khan Appointed Chairman Board of Jahangir Siddiqui & Co. Ltd. (JSCL)

Karachi: Jahangir Siddiqui & Co. Ltd. (PSX: JSCL) has announced a major leadership reshuffle, appointing Justice (R) Dr. Agha Rafiq Ahmed Khan as the new Chairman of its Board of Directors. The development was disclosed in the company’s latest filing to the Pakistan Stock Exchange (PSX). The appointment marks a significant milestone for JSCL, bringing in a highly respected jurist with more than 40 years of judicial, administrative, and regulatory experience. A Veteran Jurist Takes Charge at JSCL: Justice (R) Agha Rafiq Ahmed Khan, former Chief Justice of the Federal Shariat Court, has held several high-profile positions throughout his career. His past roles include:• Federal Law Secretary• Chairman, Sindh Public Service Commission• Senior judicial and administrative posts across Pakistan Known for his integrity, legal expertise, and strong leadership, Justice (R) Agha Rafiq is expected to play a key role in strengthening JSCL’s corporate governance and strategic direction. Asad Nasir Appointed New CEO for a Three-Year Term: Alongside the new chairman, Mr. Asad Nasir has been appointed Chief Executive Officer of Jahangir Siddiqui & Co. Ltd. for a three-year term, signaling the company’s focus on expanding its financial and investment footprint. Nasir brings over 20 years of experience across:• Private equity• Corporate finance• Capital markets• Transaction advisory• Audit and financial consulting Before joining JSCL, he served as the Group Head of Ecosystem Development & Sustainable Finance at JS Bank, where he led major initiatives in digital transformation and green finance. His appointment reflects JSCL’s commitment to innovation, sustainable growth, and stronger financial performance. Board Approves FY2026 Budget: In addition to leadership restructuring, the Board of Directors has approved the company’s budget for the fiscal year ending December 31, 2026, setting the stage for strategic expansion and long-term value creation. Strategic Leadership Strengthens JSCL’s Future Outlook With Justice (R) Agha Rafiq’s governance expertise and Asad Nasir’s financial leadership, JSCL is poised to enter a new phase of stability, innovation, and sustainable growth. These changes reinforce the company’s focus on corporate excellence, investment diversification, and value enhancement for shareholders.

World's Largest Standalone Ice Cream Business, Magnum Ice Cream Valued at $9.1 Billion in Amsterdam Listing
World

World’s Largest Standalone Ice Cream Business, Magnum Ice Cream Valued at $9.1 Billion in Amsterdam Listing

Shares in the newly independent Magnum Ice Cream Company opened weakly in Amsterdam on Monday, debuting at €12.8 apiece, below the €13 reference price set for the spinoff. The listing values the business at €7.84 billion ($9.14 billion), creating the world’s largest standalone ice cream company.The long-planned separation from Unilever, finalized today, ends decades of ownership by the Anglo-Dutch consumer giant. Unilever cited limited synergies between Magnum’s temperature-controlled supply chain and its broader portfolio of foods, soaps (Dove) and deodorants (Axe). The carve-out allows Unilever to streamline its operations while giving Magnum full autonomy.Magnum CEO Hein Schumacher (who remains Unilever CEO during the transition) said the standalone structure will make the company “more agile and focused,” enabling faster decisions and sharper innovation in a €120 billion global ice cream market.However, the new entity faces headwinds: intensifying anti-obesity regulation, consumer shifts toward healthier indulgence, and ongoing reputational challenges at subsidiary Ben & Jerry’s over political activism. Despite the soft debut, analysts believe pure-play ice cream companies can command premium valuations long-term if growth accelerates.Trading continues under ticker “MAGM.AS” on Euronext Amsterdam.

Pakistan and Cambodia Move Toward Stronger Economic Ties at Global Muslim Business Forum 2025
Pakistan

Pakistan and Cambodia Move Toward Stronger Economic Ties at Global Muslim Business Forum 2025

Pakistan and Cambodia are charting a new chapter in their bilateral relationship, reaffirming their commitment to strengthen cooperation grounded in mutual respect, shared economic interests, and long-term regional collaboration. The development came during a high-level sideline meeting in Kuala Lumpur, held alongside the 3rd Global Muslim Business Forum (GMBF) in Malaysia. According to the official press release, the meeting brought together Chairman Senate of Pakistan, Syed Yousaf Raza Gilani, and Neak Oknha Datuk Dr. Othsman Hassan, Senior Minister in Charge of Special Mission for the Royal Government of Cambodia. A Renewed Focus on Trade, Investment, and Regional Connectivity: During the discussion, both sides conducted a detailed review of the current state of Pakistan–Cambodia relations. The two officials agreed to expand cooperation across several high-potential areas, including: • Bilateral trade development• Investment promotion and business partnerships• Parliamentary exchanges and institutional linkages• Regional connectivity and trade facilitation The conversation highlighted a shared vision for deeper economic integration and the creation of new opportunities for businesses and investors on both sides. Commitment to High-Level Dialogue and Long-Term Cooperation: Chairman Gilani emphasized Pakistan’s dedication to strengthening partnerships with countries across Southeast Asia. He noted that forums like the Global Muslim Business Forum play a vital role in bringing together leaders, policymakers, and business communities from across the Muslim world to discuss economic growth and cross-border collaboration. Both Pakistan and Cambodia agreed to maintain high-level engagement to build on the positive momentum in their bilateral relations. This commitment is expected to pave the way for more structured cooperation and long-term strategic initiatives. Why This Matters for Pakistan’s Economic Strategy: Pakistan’s outreach to Cambodia supports its broader economic and diplomatic vision aimed at strengthening ties within Southeast Asia, one of the fastest-growing regions in the world. Enhanced collaboration with Cambodia can help Pakistan: • Expand its export markets• Attract new foreign investments• Promote parliamentary and institutional cooperation• Improve regional trade routes and connectivity For Cambodia, stronger ties with Pakistan open access to South Asian markets and provide a platform for broader engagement with Muslim-majority economies. A Step Forward for Regional Economic Diplomacy: The meeting in Kuala Lumpur marks a meaningful step toward building a more dynamic Pakistan–Cambodia partnership. With growing political goodwill and mutual economic interests, both countries are positioned to benefit from a deeper, more structured relationship in the years ahead. As global business dynamics evolve, such strategic partnerships will play an increasingly important role in shaping regional trade, investment ecosystems, and diplomatic engagement across Asia.

How the AI Revolution Is Reshaping Global Energy Strategy, Why Carbon Removal Is Becoming the Next Big Investment Frontier
Uncategorized

How the AI Revolution Is Reshaping Global Energy Strategy, Why Carbon Removal Is Becoming the Next Big Investment Frontier

As artificial intelligence (AI) accelerates at unprecedented speed, it is not just transforming industries, it is reshaping global energy demand, climate strategy, and trillion-dollar investment priorities. The world is entering a new era where AI growth and climate commitments intersect, creating both a massive challenge and a high-value business opportunity. At the center of this transformation is a hard truth: the AI boom is building a global carbon debt that can no longer be ignored. AI’s Energy Surge: The New Demand Curve: By 2030, worldwide data center electricity consumption is expected to reach nearly 1,000 terawatt-hours, double today’s levels, and more than Japan consumes in an entire year. Even with renewable energy capacity hitting record growth, clean power simply cannot expand fast enough to feed the explosive demand from AI training and inference workloads. As a result:• Fossil fuels, gas, oil and coal, are poised to deliver more than 50% of global data-center power through 2030.• Annual emissions from data centers could exceed 300 million tonnes of CO₂, according to the International Energy Agency (IEA).• Hyperscalers like Microsoft, Google, Meta and Amazon are moving toward net-zero targets, but emissions are still rising as deadlines approach.The race to scale AI is outpacing the world’s ability to scale clean energy. The Decarbonization Paradox: AI Growth vs. Net-Zero Commitments: No company illustrates this tension more than Microsoft.• Investing $80 billion in new data centers in 2025• Clean-energy contracts in 24 countries• Bets on both nuclear and emerging fusion technologies Yet, its energy consumption has surged 168% since 2020, and total emissions continue to climb. As Microsoft’s Chief Sustainability Officer Melanie Nakagawa said, when talking about the 2030 carbon-negative goal:“The moon has gotten further away.” Even the most aggressive climate-leading tech companies are struggling to keep pace with AI’s power demands. Why Carbon Removal Is Becoming the Next Multibillion-Dollar Market: Reaching net zero is not just about cutting emissions. The world must also begin removing carbon already in the atmosphere. This is where Carbon Dioxide Removal (CDR) becomes a crucial and fast-growing market. Why CDR Matters:• Avoidance offsets don’t remove carbon, they shift responsibility.• CDR captures CO₂ and stores it in soils, oceans, biomass, or deep geological formations.• The IPCC says the world needs 5–10 billion tonnes of carbon removed annually by 2050.• There is no net-zero scenario without carbon removal at scale. Microsoft is leading the way, having already purchased over 30 million tonnes of high-quality carbon removal, representing ~80% of the global market as of October 2025. But to sustain AI growth without breaching climate commitments, other hyperscalers must match that ambition. Why Tech Companies Are Investing in Carbon Removal Now:Contrary to perception, these investments aren’t purely environmental. They’re strategic. The Role of Governments: Public Policy Must Match Private Investment: Tech giants are now operating at nation-state scale, influencing global markets for energy, materials, and carbon. But even with their massive capital power, private investment cannot solve the carbon-removal challenge alone. Governments must:• Establish clear regulatory frameworks• Fund early CDR demonstration projects• Accelerate permitting for storage sites• Integrate CDR into mandatory compliance markets• Invest in carbon infrastructure: measurement, transport, and storageThis mirrors how governments helped scale:• Renewable energy• Broadband• COVID-19 vaccinesA similar public-private model is essential for carbon removal. A Once-in-a-Generation Opportunity: Balancing AI Innovation with a Livable Planet: AI has fundamentally redrawn the global emissions curve. But carbon removal provides a viable pathway to pay down the carbon debt created by the exponential rise in compute power.For businesses, investors, and policymakers, the next five years will define whether AI and net zero can grow togPlane, or collide. One thing is certain:Carbon removal is emerging as one of the most important investment markets of the next decade.Companies that act now will not only protect their AI-driven future, they will help build a sustainable one.

China Exports Smash Forecasts Despite Trump’s 60% Tariffs. Non-US Shipments Surge 18%: Beijing’s Trade Rerouting Pays Off in November
World

China Exports Smash Forecasts Despite Trump’s 60% Tariffs. Non-US Shipments Surge 18%: Beijing’s Trade Rerouting Pays Off in November

BEIJING: China’s exports surged 11.2% year-on-year in November, far exceeding analysts’ expectations of 8.5% growth, powered by a sharp acceleration in shipments to Southeast Asia, Europe, Latin America and Africa as manufacturers rush to reroute trade ahead of Donald Trump’s return to the White House.Non-U.S. exports jumped 14–18% in key emerging markets, while shipments to the United States rose only 3.1%, the slowest pace in 18 months, underscoring successful diversification away from Washington’s threatened 60% tariffs.Imports, however, grew just 1.7% – well below the forecast 4.2% – signaling persistently weak domestic consumption and excess industrial capacity. The trade surplus swelled to a record $104.6 billion.Factory surveys released last week painted a cautious outlook: the Caixin Manufacturing PMI for export orders slipped to 49.8, with respondents citing rising protectionism and expected demand slowdown in 2026.Beijing has accelerated “China +1” strategies, with companies expanding plants in Vietnam, Mexico and Indonesia to retain low-tariff access to Western markets once higher U.S. duties take effect in 2025.Economists warn that while front-loading and rerouting cushioned 2024, global trade fragmentation will pose mounting challenges next year.

Pakistan to Export Excess LNG from Jan 1, Announces Major Energy Reforms
Pakistan

Pakistan to Export Excess LNG from Jan 1, Announces Major Energy Reforms

LAHORE – Petroleum Minister Ali Pervaiz Malik announced Sunday that Pakistan will start selling surplus liquefied natural gas (LNG) in international markets from January 1, 2026, to curb mounting circular debt and losses exceeding Rs1,000 billion since 2018-19.Speaking at a press conference, Malik said reduced power sector demand had created an LNG glut, forcing diversion to domestic consumers and hurting local producers. “From January 1, we will monetize this excess in global markets, ease financial burden, and enable state-owned gas companies to operate at full capacity and generate profits,” he declared. Read More: https://theboardroompk.com/lng-solarization-pakistans-fuel-oil-exports-smash-record-cross-1-4-million-tons-in-2025/ The move follows Pakistan’s recent cancellation of 21 LNG cargoes from Italy’s Eni and ongoing talks with Qatar to defer or resell additional volumes.Malik also unveiled major foreign investment inflows: Turkish Petroleum is returning after 20 years for onshore and offshore exploration and opening an Islamabad office. Azerbaijan’s SOCAR will arrive next week to finalize exploration partnerships and invest millions in the Machike–Thalian oil pipeline with PSO and FWO; construction begins within six weeks.For the Reko Diq copper-gold project, $3.5 billion in private debt has been secured, matched by Barrick Gold and local firms, totaling $6–7 billion in phase-one investment. The signing ceremony is expected within two months.

Thailand Launches Air Strikes at Cambodia on Century-Old Border Dispute; 35,000 Displaced
World

Thailand Launches Air Strikes at Cambodia on Century-Old Border Dispute; 35,000 Displaced

BANGKOK/PHNOM PENH – The Thai military announced Monday that more than 35,000 civilians have been evacuated from four border districts and relocated to temporary shelters as tensions with Cambodia over disputed territory escalate once again.The evacuations affect communities in Surin, Si Sa Ket, Buriram, and Ubon Ratchathani provinces along the 817-kilometre frontier, parts of which remain undemarcated since the 1907 French colonial map drawn when Cambodia was under Paris’s rule.Military spokesmen described the move as “precautionary” amid heightened troop deployments on both sides. Local residents reported increased artillery and small-arms fire near the contested Preah Vihear temple area and other flashpoints in recent days.The century-old sovereignty dispute has triggered deadly clashes before, most notably a week-long exchange of rocket and artillery fire in 2011 that killed at least 18 people and displaced tens of thousands.Despite multiple rounds of bilateral talks and rulings by the International Court of Justice affirming Cambodian sovereignty over the Preah Vihear temple itself in 1962 and surrounding land in 2013, overlapping claims persist. Both governments insist they seek a peaceful resolution, yet neither has ruled out force to protect what each regards as national territory.

PM Shehbaz, CDF Asim Munir meet Binance CEO Richard Teng
Pakistan

PM Shehbaz, CDF Asim Munir meet Binance CEO Richard Teng

Islamabad: In a historic shift, Prime Minister Shehbaz Sharif and Chief of Army Staff Field Marshal Syed Asim Munir on Saturday held high-level talks with a Binance delegation led by Global CEO Richard Teng, signaling Pakistan’s strong commitment to regulated digital assets.The meeting, also attended by Finance Minister Muhammad Aurangzeb and PVARA Chairman Bilal bin Saqib, follows Friday’s consultative session at the Finance Division where central bank officials, commercial bank heads, and Binance executives discussed Pakistan’s National Digital Asset Framework. Read More: https://theboardroompk.com/crypto-pioneer-bilal-bin-saqib-exits-government-role-sparks-social-media-speculation/ The government emphasized building a secure ecosystem with licensed Virtual Asset Service Providers, robust on/off-ramp infrastructure, enhanced AML/CFT compliance, and integration of citizen-held crypto into formal financial monitoring, without granting legal tender status. Officials described digital asset adoption as an “irreversible global trend” that offers economic opportunities through better financial visibility and credit assessment.Despite Bilal bin Saqib’s recent resignation as Special Assistant to the Prime Minister on Blockchain and Cryptocurrency, he continues to lead the autonomous Pakistan Virtual Assets Regulatory Authority. The rare civil-military engagement with the world’s largest crypto exchange marks Pakistan’s decisive pivot from its earlier blanket ban toward a regulated, innovation-friendly digital asset market.

From 40% to 46% Already: Pakistan Races Toward 60% Renewables by 2030
Pakistan

From 40% to 46% Already: Pakistan Races Toward 60% Renewables by 2030

ISLAMABAD: Pakistan has achieved a major clean energy milestone months ahead of schedule, with renewable sources now contributing more than 46% of the country’s total electricity generation as of September 2025, Federal Minister for Energy (Power Division) Awais Ahmad Khan Leghari informed the National Assembly on Friday. Read More: https://theboardroompk.com/k-electric-to-build-26mw-dedicated-grid-station-at-port-qasim/ In a written reply to lawmakers, the minister revealed that the country has already surpassed its own ambitious 2025 target of 40% renewable energy in the national grid. The government remains committed to raising the share to 60% by 2030.While installed on-grid renewable capacity currently stands at 37%, ongoing public and private sector projects are rapidly coming online, pushing the actual generation share significantly higher.The development marks one of the fastest clean-energy transitions among developing nations and positions Pakistan as a regional leader in renewable energy adoption.

Pakistan Removes Major Barrier to Kinnow & Potato Exports via Iran, New Route to CIS & Russia Opens
Uncategorized

Pakistan Removes Major Barrier to Kinnow & Potato Exports via Iran, New Route to CIS & Russia Opens

Karachi: In a major development for Pakistan’s agricultural export sector, the government has removed the key financial obstacle that had long hindered the export of kinnow (mandarin) and potatoes via the Iran land route. Acting on the special directives of the Prime Minister, the Ministry of Commerce and the State Bank of Pakistan (SBP) have jointly issued an important circular granting exporters one-time exemption from submitting the mandatory Financial Instrument (FI) for these shipments. According to the official notification signed by Maria Kazi, JS FT-II, exporters will now be able to ship kinnow and potatoes to Central Asian States (CIS) and Russia through Iran’s land corridor without the previously required banking documentation. Commerce Ministry Circular: A Landmark Facilitation for Exporters: The circular states: Exporters of kinnow and potatoes are exempted from submitting the Financial Instrument in banks for the ongoing export season. This relaxation has been granted under the Export Policy Order 2022 as a one-time special permission. The State Bank of Pakistan has instructed all banks not to demand FI-Documents from exporters. The move addresses long-standing logistical challenges and provides an immediate relief to exporters who faced disruptions through the Afghan transit route. The Iran land route is now formally reinstated as a viable and streamlined export corridor. Pakistan’s Export Performance, And Growth Expected This Year: Export data reveals: Pakistan exported 55,000 tons of kinnow, earning USD 22 million last year. The country also exported 300,000 tons of potatoes to CIS markets, earning USD 50 million. Exporters are highly optimistic about 2025: A bumper kinnow crop has been recorded this season. Shipments to CIS countries are expected to increase by 30% compared to last year. The opening of the Iran corridor is expected to significantly reduce transportation costs, shorten transit time, and enable exporters to serve regional markets more efficiently. PFVA Welcomes the Government’s Decision “A Unique Opportunity for the Sector” Waheed Ahmed, Patron-in-Chief of the All Pakistan Fruit & Vegetable Exporters, Importers and Merchants Association (PFVA), expressed deep appreciation for the government’s timely intervention. He stated: “We express our deepest gratitude to the Honourable Prime Minister, Minister of Commerce, and Governor SBP for resolving the Financial Instrument issue expeditiously for the export of kinnow to CIS countries via Iran. This reflects their strong commitment to boosting this vital export sector.” He added: “Our exporters will leave no stone unturned in utilizing this unique opportunity. With a bumper kinnow crop this year, we are fully prepared to maximize exports and generate valuable foreign exchange for Pakistan.” A Game-Changer for Pakistan’s Agricultural Supply Chain This development carries important implications for: Exporters targeting CIS & Russian marketsLogistics and cold-chain operators using Iran’s land routesPakistan’s kinnow and potato export clustersInvestors looking to expand in the fresh produce sector By relaxing banking requirements and enabling smoother transit routes, the government has unlocked new momentum for Pakistan’s fruit and vegetable export industry. The government’s decision is being hailed as a strategic breakthrough for Pakistan’s agricultural exports. With improved cross-border logistics, reduced documentation barriers, and a bumper harvest season, Pakistan is positioned to significantly enhance its footprint across Central Asia and Russia. This policy shift is expected to: Boost foreign exchange earningsStrengthen Pakistan’s trade competitivenessImprove sustainable market access for key horticultural products Pakistan’s kinnow and potato exporters are ready, and the regional markets are waiting. The State Bank of Pakistan has instructed all banks not to demand FI-Documents from exporters. The move addresses long-standing logistical challenges and provides an immediate relief to exporters who faced disruptions through the Afghan transit route. The Iran land route is now formally reinstated as a viable and streamlined export corridor. Pakistan’s Export Performance, And Growth Expected This Year: Export data reveals: Pakistan exported 55,000 tons of kinnow, earning USD 22 million last year. The country also exported 300,000 tons of potatoes to CIS markets, earning USD 50 million. Exporters are highly optimistic about 2025: A bumper kinnow crop has been recorded this season. Shipments to CIS countries are expected to increase by 30% compared to last year. The opening of the Iran corridor is expected to significantly reduce transportation costs, shorten transit time, and enable exporters to serve regional markets more efficiently. PFVA Welcomes the Government’s Decision “A Unique Opportunity for the Sector” Waheed Ahmed, Patron-in-Chief of the All Pakistan Fruit & Vegetable Exporters, Importers and Merchants Association (PFVA), expressed deep appreciation for the government’s timely intervention. He stated: “We express our deepest gratitude to the Honourable Prime Minister, Minister of Commerce, and Governor SBP for resolving the Financial Instrument issue expeditiously for the export of kinnow to CIS countries via Iran. This reflects their strong commitment to boosting this vital export sector.” He added: “Our exporters will leave no stone unturned in utilizing this unique opportunity. With a bumper kinnow crop this year, we are fully prepared to maximize exports and generate valuable foreign exchange for Pakistan.” A Game-Changer for Pakistan’s Agricultural Supply Chain This development carries important implications for: Exporters targeting CIS & Russian marketsLogistics and cold-chain operators using Iran’s land routesPakistan’s kinnow and potato export clustersInvestors looking to expand in the fresh produce sector By relaxing banking requirements and enabling smoother transit routes, the government has unlocked new momentum for Pakistan’s fruit and vegetable export industry. The government’s decision is being hailed as a strategic breakthrough for Pakistan’s agricultural exports. With improved cross-border logistics, reduced documentation barriers, and a bumper harvest season, Pakistan is positioned to significantly enhance its footprint across Central Asia and Russia. This policy shift is expected to: Boost foreign exchange earningsStrengthen Pakistan’s trade competitivenessImprove sustainable market access for key horticultural products Pakistan’s kinnow and potato exporters are ready, and the regional markets are waiting.

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