Sindh Chief Minister Murad Ali Shah has directed electricity and gas companies (KE, KESCO, SEPCO and SSGC) to not collect payments of bills for the month of March for consumers whose electricity bill is less than Rs5,000 and gas bill is less than Rs2,000. He further said that the amount can be recovered in small installments over the next 10…
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DUBAI: Del Monte, a leading provider of fresh, healthy and great-tasting food to consumers around the globe, is continuing its sustainability drive by exerting more efforts in several fields such as waste management. The company carefully recycles cartons, plastic, nylon bags, metaletc.and has partnerships withvarious waste management companies for kinds of repurposed wasteto achieve its sustainability objectives. “Our commercial operations…
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The eight-member countries of the Shanghai Cooperation Organization (SCO), including China, Russia, and Pakistan, have made the principle decision to conduct bilateral trade and investment and issue bonds in local and national currencies instead of US dollars. As per details, a road map will be finalized and signed at SCO’s Finance Ministers’ meeting in Moscow on March 18th. Russia, as…
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Various reports hit the news feeds today quoting a deliberately headline-grabbing statement by Paul Sankey, managing director at Mizuho Securities, in which he is reported as saying, “Oil prices can go negative.” That is, they could as a combination of Saudi Arabia (and Russia) flooding the market with increased oil and the market running headlong into COVID-19-induced curtailment of activity that…
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KARACHI: The leadership of the Karachi Chamber of Commerce & Industry (KCCI) and the industrial town associations here on Saturday urged the federal government to order the K-Electric to immediately stop and defer the Industrial Support Package Adjustment (ISPA), which is being charged retrospectively at a very odd situation as all the industries remained completely shut due to the outbreak…
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The IEA Oil Market Report (OMR) is one of the world’s most authoritative and timely sources of data, forecasts and analysis on the global oil market – including detailed statistics and commentary on oil supply, demand, inventories, prices and refining activity, as well as oil trade for IEA and selected non-IEA countries. Highlights In the past few weeks, Covid-19 (coronavirus)…
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KARACHI: The country on Saturday appeared to be moving towards a lockdown given the severity of the spread of the novel coronavirus. Hours after the Punjab government announced a lockdown in the province from Saturday night till Tuesday morning, the Sindh government also decided in principle to follow suit, and an announcement in this regard is expected on Sunday (today), sources…
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Private Power and Infrastructure Board (PPIB) is reportedly facing stiff resistance from the Finance Division on “wished” risk coverage to the Chinese company, which is establishing Kohala Hydropower Project under the CPEC, well-informed sources in the PPIB told Business Recorder. The Power Division tabled the summary, which was returned by the Prime Minister’s Advisor on Finance, Dr Abdul Hafeez Shaikh saying that…
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Traders, grocery stores and pharmacies across Karachi have reached consensus that they have enough supplies for the city if shopping stays normal amid the coronavirus self-isolation term. They warned, however, that if people start hoarding groceries and panic they will upset the demand-supply equation. “For God’s sake, stop hoarding flour,” said Karachi Atta Chakki Association head Anis Shahid. “We have…
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The global offshore wind industry installed a record 6.1GW of new capacity in 2019, bringing the total capacity to 29GW, according to the latest report by the Global Wind Energy Council (GWEC). The 6.1GW of new capacity in 2019 represents a 35.5% increase compared to the previous year, which saw 4.5GW installed. Europe remained the largest market for offshore wind, accounting…
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