National Bank of Pakistan (NBP) and Pakistan International Airlines (PIA) have signed an agreement for “Employee Banking” for provision of banking facilities to PIA employees. Under the aforementioned arrangement, NBP will facilitate PIA employees to meet their financial needs through provision of its wide range of assets and liabilities products under the preferred service mode. The arrangement offers concessional rates…
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Pakistan Water and Power Development Authority (WAPDA) Chairman Lt Gen Sajjad Ghani (Retd) has said that his foremost priority is to complete under-construction WAPDA projects as per their schedules, in addition to initiating new projects to cope with increasing requirements of water and electricity in the country. This was the crux of the Chairman’s interaction during a week-long briefing sessions…
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When it comes to turning turbines, steam is out and supercritical carbon dioxide is in – as demonstrated by Sandia National Labs when it connected a closed-loop system to the local grid, supplying about 10 kilowatts of power for nearly an hour. Sandia’s experimental unit uses carbon dioxide in a supercritical state (pressurized to behave like a liquid and gas) to move…
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Solar panels aren’t just for rooftops anymore—some buildings even have these power-generating structures all over their facades. But as more buildings and public spaces incorporate photovoltaic technologies, their monotonous black color could leave onlookers underwhelmed. Now, researchers reporting in ACS Nano have created solar panels that take on colorful hues while producing energy nearly as efficiently as traditional ones. Solar…
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In a welcoming development, the coalition government has done away with all the hurdles that had delayed the construction of four LNG terminals during the PTI government’s tenure, a senior official told The News. “Ahead of prime minister’s visit to Qatar, the ECC has amended the LNG Policy 2001 for exemption from mandatory Third Party-Access (TPA) to new LNG terminals…
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Pakistan is reviewing a proposal to receive upfront 20% of the total cost of five China-Pakistan Economic Corridor (CPEC) projects as deposits in the central bank in a bid to get breathing space amid declining foreign exchange reserves. The proposal has been discussed at the highest level as the prime minister has given instruction to further fine-tune it, a cabinet…
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The African region has gained significant attention recently for its burgeoning oil and gas industry, with new oil-rich states across Africa hoping to meet the continued global demand for fossil fuels. However, several African countries are also developing green energy strategies and investing in renewables. The African Union is expected to present a five-page document highlighting the benefits of developing the region’s oil…
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Russia held its spot as China’s top oil supplier for a third month in July, data showed on Saturday, as independent refiners stepped up purchases of discounted supplies while cutting shipments from rival suppliers such as Angola and Brazil. Imports of Russian oil, including supplies pumped via the East Siberia Pacific Ocean pipeline and seaborne shipments from Russia’s European and…
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Heatwaves this summer and expected natural gas shortages this winter are driving gas prices higher and higher. Europe’s benchmark gas prices surged by 14% in just three days to a fresh record-high, continuing the upward trend from recent weeks, as gas demand for power generation is high amid heatwaves and Russian pipeline supply remains at low levels, while the EU…
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The coalition government has carved out a multi-pronged strategy to increase the supply of LNG in the country’s system in the coming winter season under which it has allowed the existing terminals to use their excess capacity for importing the gaseous fuel to cater to the country’s needs, The News has learnt. “This government action will change Pakistan’s LNG scenario…
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