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Month: November 2024

Business Seeks Clarity Amid Mixed Messages from COP29 on Climate Goals

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Cop-29

BAKU – The COP29 climate summit in Azerbaijan concluded with agreements on climate finance and carbon market frameworks, but lingering uncertainties leave businesses seeking more concrete details. While the summit pledged $300 billion annually in climate finance by 2035 and advanced rules for carbon offset trading, the outcomes remain insufficient for many developing nations and private sector stakeholders. Key Outcomes…

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Criticism Mounts Over Exclusion of Net-Metering from Winter Electricity Package

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NEPRA-KE

ISLAMABAD – Business and industry groups have criticized the government’s decision to exclude solar net-metered consumers from its winter electricity package, urging the authorities to ensure K-Electric passes the benefits to Karachi’s residents. During a public hearing by the National Electric Power Regulatory Authority (Nepra), stakeholders raised concerns about delayed implementation, with nearly 20 days of the three-month package already…

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Power Tariff to Rise by 26 Paise Per Unit in December: Nepra

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Power Division

ISLAMABAD – The National Electric Power Regulatory Authority (Nepra) announced on Tuesday that the negative fuel cost adjustment (FCA) requested by ex-Wapda distribution companies (Discos) would result in an effective tariff increase of 26 paise per unit in December. During a public hearing, Nepra revealed that while the Central Power Purchasing Agency (CPPA) proposed a reduction of Rs1.02 per unit…

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Celebrate Eid Al Etihad 53 in Dubai with Spectacular Experiences

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Eid-Al-Etihad

Dubai, UAE – Dubai is set to dazzle this Eid Al Etihad 53 with an exciting lineup of experiences, ensuring an unforgettable long weekend from November 28 to December 3. Visitors and residents can immerse themselves in the festive spirit with: Breathtaking Fireworks: Witness stunning displays illuminating Dubai’s skies on December 1, 2, and 3 across iconic city locations.Vibrant Cultural…

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Fuel shortage looms over Lahore, Islamabad & Pindicc

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fuel

ISLAMABAD: A potential fuel shortage looms over Lahore, Islamabad, and Rawalpindi as restrictions on city access are hindering the transportation of fuel tankers. Oil Contractors Association said that when contacted with the Oil and Gas Regulatory Authority (OGRA), the authority also expressed concern over the situation, warning that it could lead to disruptions in the supply of petroleum products. Oil…

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CM Murad Secures Rs. 8bn for K-IV Project, Demands 50 MGD More Water for Karachi

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CM-Murad

KARACHI (Nov 26) – Sindh Chief Minister Syed Murad Ali Shah, in a high-level meeting with WAPDA Chairman Lt Gen (R) Sajjad Ghani at the CM House, stressed the urgent need to allocate an additional 50 MGD of water from the Hub Dam to address Karachi’s growing demand. The meeting, attended by Local Government Minister Saeed Ghani, Irrigation Minister Jam…

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Pakistan Forms Negotiation Body for Reko Diq Stake Sale to Saudi Arabia

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Reko-Diq

ISLAMABAD: Pakistan has established a negotiation committee to finalize the sale of a 15% stake in the Reko Diq copper and gold mining project to Saudi Arabia’s Public Investment Fund (PIF). The committee will review the price discovery mechanism prepared by international advisors, assess the Saudi offer, and draft a commercial agreement. The Cabinet Committee on International Governmental Commercial Transactions…

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Oil Prices Slide $2 Amid Reports of Mideast Ceasefire

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Oil-Price

HOUSTON: Oil prices fell sharply on Monday, with Brent crude dropping $2.02 (2.69%) to $73.15 per barrel and US West Texas Intermediate (WTI) declining $2.08 (2.92%) to $69.16, following reports of a potential ceasefire deal between Israel and Lebanon. Unnamed US officials indicated progress in ending the Israel-Hezbollah conflict, though Israeli and Lebanese leaders expressed cautious optimism, citing unresolved issues…

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