Global oil demand is set to crash by 7.9 million barrels per day (bpd) this year, the International Energy Agency (IEA) said on Friday, but this forecast is slightly more optimistic than last month’s expectation of an 8.1-million-bpd demand drop. The IEA, however, noted that the recent rise in COVID-19 cases and the reinstating of partial lockdowns in some countries…
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Short interest on Tesla is set to make the EV maker’s stock the first stock to hit US$20 billion in bets against it, data from financial analytics firm S3 Partners showed, as short sellers seem unfazed by Elon Musk’s open mocking in recent days. Short interest in Tesla has reached US$19.95 billion, S3 Partners data, cited by Business Insider, shows.…
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The United States and Libya are probing a suspected scheme in which eastern Libyan strongman Khalifa Haftar is allegedly paying Nicolas Maduro’s regime in Venezuela U.S. dollars in exchange for gold, The Wall Street Journal reported, quoting Western and Libyan security officials. Libya’s government, against which Haftar’s Libyan National Army (LNA) and affiliated factions are fighting in the civil war,…
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Marathon Petroleum Corp (NYSE: MPC) began restarting its 585,000 bpd refining complex in Galveston Bay that has been shuttered for more than a month now, according to Reuters sources. The complex—America’s second-largest refinery after Motiva–was shut on May 23rd as part of a massive overhaul. Marathon did not confirm the plans to restart, but the sources indicate that its 225,000…
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The record stockpile of natural gas in northwest Europe and Italy is eating into the regions’ thirst for Gazprom’s product, according to Reuters, and the Russian gas giant has lost more ground in terms of sales to the area compared to its competitors. Gazprom’s falling natural gas exports to the region have caused Gazprom’s share of the natural gas market…
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ISLAMABAD: A sum worth Rs30 billion has been allocated to the Naya Pakistan housing scheme, Prime Minister Imran Khan announced in a live televised address on Friday, in line with helping the underprivileged class build their own homes. Addressing the nation after chairing a meeting of the National Coordination Committee on Housing, Construction, and Development, PM Imran said the scheme…
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The world-famous Hagia Sophia museum in Istanbul – originally founded as a cathedral – has been turned back into a mosque. Turkey’s President Recep Tayyip Erdogan announced the decision after a court annulled the site’s museum status. Built 1,500 years ago as an Orthodox Christian cathedral, Hagia Sophia was converted into a mosque after the Ottoman conquest in 1453. In…
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DUBAI: Malaysia recorded 4,233,425 tourist arrivals for the first quarter of 2020. This marks a decrease of 36.8% compared to the same period in 2019. The tourist expenditure for the first quarter recorded a total of RM12.5 billion, a decrease of 41.5% compared to RM21.4 billion registered for the same period in 2019. Per capita expenditure also showed a decline of 7.4% from RM3,201.8 in 2019 to RM2,964.5 this year. The…
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The National Electric Power Regulatory Authority (Nepra) on Friday formed a committee to visit Karachi and probe complaints of “excessive” electricity load-shedding by the K-Electric (KE) in the metropolis in recent days. The decision came after the power regulator held a public hearing on the subject via video link, which was attended by public representatives, technical experts, representatives of different entities, members…
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When exactly I began putting plastic items in a special tub for recycling I don’t remember. Probably in the 1980s when I moved to Princeton. Then my wife and I separated plastic items, tin cans and newspapers from the regular garbage and put them in a special can to be recycled. Then too certain plastic bottles were separated from all…
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