Oil prices edged lower on Wednesday as a large, surprise build in U.S. gasoline stocks outweighed easing supply concerns from a ceasefire deal between Israel and Hezbollah. Brent crude futures fell 12 cents, or 0.2%, to $723.69 a barrel by 10:40 a.m. ET (1540 GMT) and U.S. West Texas Intermediate crude eased 15 cents, or 0.2%, to $68.64. U.S. gasoline…
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Dubai, UAE – Dubai is gearing up to celebrate Eid Al Etihad 53 with a spectacular array of experiences that promise to make the long weekend unforgettable. From 28 November to 3 December, Dubai will come alive with dazzling fireworks, cultural celebrations, thrilling live entertainment, exclusive offers at leading hotels and attractions, and a feast of local cuisine. Top Experiences…
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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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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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Power utility K-Electric (KE) received the lowest tariff bid from Kot Addu Power Company Limited (KAPCO) for its 120-megawatt (MW) solar project in Karachi. KAPCO shared the development in a notice to the Pakistan Stock Exchange (PSX) on Tuesday. “We are pleased to inform you that the company’s bid for the proposed K-Electric solar project to be set-up at Deh…
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HOUSTON: Oil prices rose on Tuesday as investors eyed OPEC+ discussions on output and weighed the potential impact of U.S. President-elect Donald Trump’s planned trade tariffs on Mexico and Canada. Brent crude futures were up 66 cents, or 0.9%, at $73.67 a barrel as of 10:35 a.m. ET (1535 GMT). U.S. West Texas Intermediate crude futures were at $69.60 a…
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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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ISLAMABAD: The price of 24 karat per tola gold decreased further by Rs 4,300 and was sold at Rs 278,400 on Monday November 25, 2024 against its sale at Rs 182,700, All Sindh Sarafa Jewellers Association reported. The price of 10 grams of 24 karat gold also went down by Rs.3,657 to Rs.238,683 from Rs. 242,370 whereas that of 10…
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BAGHDAD: Iraq’s electricity ministry said on Sunday that Iranian gas supplies had been completely halted for 15 days due to maintenance, impacting Baghdad, the central provinces, and the Middle Euphrates, resulting in the loss of 5.5 gigawatts from its national grid.
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Pakistan’s total hydropower potential is estimated at 59,796MW gross, with about 41,045MW considered both technically and economically viable. However, despite this significant potential, only a fraction has been developed, with the current hydropower generation capacity at 10,635MW connected to the national grid. This includes 9,389MW managed by Wapda in the public sector, and 1,246 MW developed by Independent Power Producers…
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