Three days after Jamie Dimon sparked a marketwide selloff which sent stocks to fresh 2022 lows after he predicted a US recession in “6 to 9” months, citing drivers including rising interest rates, persistent inflation and Russia’s invasion of Ukraine, and warned stocks could drop another 20%, the JPMorgan CEO who is expected to report earnings tomorrow (and hopefully clarify why his…
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U.S. crude oil output from shale basins could peak in 2024, a new note from Energy Aspect’s Amrita Sen cautioned. The note referenced five crude oil producers in the United States that are considering cutting rigs at the start of the year due to inflation. The news comes as the United States shows signs of desperation for alleviating high gasoline…
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he President, Balochistan Economic Forum (BEF), Sardar Shoukat Popalzai has said that Chinese investment is a major milestone on improving socioeconomic development in the province of Balochistan. He expressed concern over recent statements from a National Assembly Member from the province of Balochistan, in which he has used very harsh words for Chinese companies making investments in the province including…
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National Electric Power Regulatory Authority (Nepra) on Friday approved refund of Rs 8.37 billion at the rate Rs 4.8862/ kWh to the consumers of K-Electric and an increase of Rs.0.1918/ kWh in tariff of power Distribution Companies for August 2022 under monthly Fuel Charges Adjustment (FCA) mechanism. The regulator conducted public hearings on the FCA adjustment requests of KE and…
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The World Bank Group President David Malpass, has urged the government of Pakistan to focus on the implementation of Pakistan’s fiscal and energy reforms to stabilise the economy and lay the foundation for sustained growth. Malpass met with Muhammad Ishaq Dar, Minister of Finance and Revenue and Sardar Ayaz Sadiq, Minister of Economic Affairs of Pakistan. According to a statement…
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The government’s decision to provide electricity to five export-oriented sectors at Rs 19.99/ kWh for the remaining three quarters of the current fiscal year (2022-23), may become a stumbling block in ninth review of International Monetary Fund (IMF). This was the crux of background interaction with some government officials who are extensively dealing with the issue of five zero rated…
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Washington/Islamabad, Oct 14 (IANS) Pakistan and Saudi Arabia, once considered as key allies of Washington, are not even mentioned in the US National Security Strategy 2022, which identifies China as “Americas most consequential geopolitical challenge”. The 48-page document does mention terrorism and other geo-strategic threats in the South and Central Asian region, but unlike the recent past, it does not…
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The high point of roll out-of mega projects under the CPEC (China Pakistan Economic Corridor) was in the last tenure of PML-N (Pakistan Muslim League-Nawaz) government from 2013-18. During this period a number of mega projects in the energy and infrastructure sector set their footprint in all parts of the country, notably, the thermal power projects in Punjab and hydro…
Read MoreIt has been observed with grieve concern that DISCOs Distribution Transformers burn out during summer due to overload. As the weather goes hotter, the load is increased and resultantly the Distribution Transformers are burnt out worth of billions of rupees during each summer season.It is highly negligence because of non installation of system protection equipment along with the Transformers. The…
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