Oil prices steady ahead of imminent OPEC+ decision; geopolitical turmoil in focus

oil price

Oil prices were little changed on Wednesday, with traders expecting OPEC+ to announce an extension to supply cuts this week while heightened geopolitical tensions continue to dominate market sentiment. Brent crude futures were up 5 cents, or 0.07%, at $73.67 a barrel by 1214 GMT while U.S. West Texas Intermediate crude futures fell 4 cents, or 0.06%, to $69.90. On…

Read More

Meta Seeks Nuclear Power Developers to Meet AI and Environmental Goals

Meta-Project

Meta, the tech giant, is inviting proposals from nuclear power developers to add 1 to 4 gigawatts of U.S. nuclear generation capacity by the early 2030s. This move aligns with the company’s efforts to address rising electricity demand for artificial intelligence and environmental sustainability. “Nuclear energy will play a pivotal role in transitioning to a cleaner, more reliable, and diversified…

Read More

KE Cuts Power to Railways Over Unpaid Bills; Railways Cites Rs70 Billion in Dues

K-Electric

KARACHI: The power utility company, K-Electric (KE), disconnected electricity to Pakistan Railways (PR) on Tuesday over unpaid bills amounting to Rs430 million since May 2024, disrupting key operations, including the online ticketing and signal systems for 38 daily passenger trains from Karachi. In its statement, KE stressed the unsustainability of continuing supply without payment and highlighted repeated defaults despite prior…

Read More

Pakistan-Türkiye Celebrate 77 Years of Diplomatic Ties in Ankara

Pakistan-Turkiye

Ankara, Türkiye – A celebratory event was held at Pakistan House in Ankara to mark the 77th anniversary of diplomatic relations between Pakistan and Türkiye. The occasion was graced by prominent Turkish leaders, including Former Foreign Minister and Member of Parliament Mevlut Cavusoglu, Chairperson of the Human Rights Investigation Commission of the Turkish Parliament MP Derya Yanik, Former Deputy Prime…

Read More

Thar Coal produces affordable electricity, but transmission challenges hold back the promise of low-cost power: Murad Shah.

Thar-Coal

Thar coal produces power for Rs 4.8/KWh compared to imported coal at Rs 19.5/ KWh KARACHI (Dec 2): Sindh Chief Minister Syed Murad Ali Shah stated that Thar Coal is the most affordable source of electricity generation in the country, however, due to transmission constraints, there are instances when the delivery of this inexpensive power is hindered, preventing the full…

Read More

Govt to transit major coal power plants to Thar coal

coal power plants

Aimed to reduce energy costs and reliance on imported coal, the federal government has decided to shift the coal-based power plants at Jamshoro, Thal, and Sahiwal to utilize locally sourced Thar coal. The decision was finalized during the 28th meeting of the Thar Coal and Energy Board, chaired by Sindh Chief Minister Syed Murad Ali Shah. Key federal and provincial…

Read More

Diamond Jubilee Celebrations of National Bank of Pakistan75 Years of Unwavering Excellence

Diamond Jubilee

Exuberant celebrations filled with unwavering dedication and opulent prestige marked the 75th anniversary of the National Bank of Pakistan (NBP). Held at the historic Mohatta Palace in Karachi, the event was attended by eminent dignitaries from the government, business community, and customers from across the country.Mr. Rehmat Ali Hasnie, President NBP, warmly welcomed the Chief Guest, Mr. Jameel Ahmad, Governor…

Read More

U.S. Imposes Tariffs on Solar Panels from Southeast Asia Over Dumping Allegations

Floating Solar

Washington: The U.S. Commerce Department has announced tariffs on solar panel imports from Cambodia, Malaysia, Thailand, and Vietnam following allegations of market dumping. The decision stems from a trade complaint by Hanwha Qcells, First Solar Inc., and other U.S. manufacturers seeking to safeguard domestic solar investments. Dumping duties range from 21.31% to 271.2%, varying by company and country of origin.…

Read More