Venezuela once considered one of Latin America’s prosperous countries has plunged into the abyss. Years of economic mismanagement, cronyism and corruption have sparked a monumental economic collapse which saw the oil rich country become one of the poorest in South America. There are emerging signs that Venezuela is on the verge of becoming a failed state. Oil plays a dominant…
Read More
BENTON COUNTY, Wash. – Scout Clean Energy (“Scout”), announced plans to add solar and battery storage components to a proposed wind farm that would be located just south of the Tri-Cities in Benton County, Washington. The innovative development will combine wind energy, solar energy, and battery energy storage in the same location – making more renewable energy available to customers…
Read More
New research suggests that power companies are dragging their feet when it comes to embracing green energy sources such as wind and solar. Only one in 10 energy suppliers globally has prioritised renewables over fossil fuels, the study finds. Even those that are spending on greener energy are continuing to invest in carbon heavy coal and natural gas. The lead…
Read More
ISLAMABAD -Two multinational companies are all set to start physical work on setting up their Liquefied Natural Gas (LNG) terminals during next few months after the government opened up the energy sector under its ease-of-doing-business strategy. “The government had allowed five private sector companies to establish their own LNG terminals, out of which two firms Exxon Consortium and Mitsubishi will…
Read More
KARACHI: To promote research in the field of Accounting and Finance, the Institute of Chartered Accountants of Pakistan (ICAP) and Institute of Business Administration laid the foundation of ICAP-IBA Research Unit (IIRU). The two institutes expressed their intention to promote research and development in Pakistan by attracting and retaining outstanding scholars having research interest in the areas relevant to the…
Read More
BEIJING/SHANGHAI – Four of China’s five largest state-owned banks said they have increased their provisions against bad debt to brace for future losses due to the impact of the global coronavirus pandemic. All five reported their biggest profit falls in at least a decade and an increase in soured loans when announcing their half-year results on Sunday and last week. The results highlight…
Read More
Chocolate is leading the charge on the candy front as the coronavirus pandemic continues. A data-driven report from the National Confectioners Association shows that demand for chocolate has surpassed demand observed in the candy market overall from March 15, 2020 to Aug. 9, 2020. Between those five months, the premium chocolate market saw the largest growth with a sales spike of 12.5%. Non-premium chocolate, on the other…
Read More
KARACHI: Chairman of the committee probing Independent power producers (IPPs) case, Muhammad Ali, on Monday said that successful negotiations between IPPs and the federal government would bring a halt to rising circular debt, ARY NEWS reported. Speaking during ARY NEWS programme, Power Play, he said that the IPP probe committee covered the entire power sector and pointed out excessive payments to…
Read More
The federal government, upset about the failure of different ministries and divisions to appoint heads of state-run enterprises, has decided to conduct a study to unearth the stumbling blocks and streamline the recruitment process. According to a report shared by the Establishment Division with the Cabinet Committee on Institutional Reforms, 96 posts of heads of public sector companies had been…
Read More
August 31, 2020: National Electric Power Regulatory Authority (NEPRA) has imposed a fine of Rs 200 million on K-Electric for excessive load-shedding in Karachi. “The NEPRA Authority has imposed a fine of PKR. 200 million on K-Electric for carrying-out excessive load-shedding in Karachi during the months of June and July, 2020 and violating NEPRA Act, terms and conditions of its…
Read More
