Oil prices were little changed on Tuesday, awaiting further price direction from OPEC’s monthly report, while investor disappointment over China’s latest stimulus plan and oversupply concerns limited gains. Brent crude futures rose 38 cents, or 0.5%, to $72.21 a barrel, by 0944 GMT. U.S. West Texas Intermediate crude futures were up 36 cents, or 0.5% at $68.40 a barrel. “In…
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Global stocks came under pressure on Tuesday from investor concern about U.S. President-elect Donald Trump’s policies, while bitcoin neared a record $90,000 as traders piled into assets they believe could benefit from the new administration. Investors have been funneling cash into assets they think will get a boost from Trump’s second four-year term in office, in which he has vowed…
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Gold prices in Pakistan saw a massive decrease on Tuesday in line with their drop in the international rates. In the local market, the price of gold per tola lost Rs7,000, clocking in at Rs270,500. Similarly, 10-gram gold was sold at Rs231,911 after it recorded a decrease of Rs6,000, according to rates shared by the All-Pakistan Gems and Jewelers Sarafa Association…
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BAKU: As COP29 commenced on Monday, U.S. climate envoy John Podesta reassured global leaders that efforts to address climate change would persist despite Donald Trump’s re-election. The summit, held from November 11-22, faces heightened uncertainty following Trump’s victory, with the incoming administration expected to reconsider the Paris climate agreement. Podesta emphasized that even if federal action slows, U.S. states, cities,…
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Islamabad, Monday, 11 November 2024 – To celebrate 75 years of diplomatic relations betweenDenmark and Pakistan, the Embassy of Denmark hosted a special reception under the theme “75Years of Greener Together.” The evening underscored a dual purpose – celebrating the endurinpartnership between the two nations and reaffirming their commitment to a greener, moresustainable future.Hosted by H.E. Jakob Linulf, Danish Ambassador…
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The Pakistani government has approved 20 new positions within its Trade Mission in China to boost exports, attract foreign investment, and support efforts to relocate Chinese industries to Pakistan. This initiative addresses the $12 billion trade deficit, with Pakistan’s 2023-24 exports to China at $2.56 billion and imports at $14.51 billion. Following a directive from the Prime Minister and consultations…
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Thick, black and toxic smog engulfed the skies of Pakistan as unprecedented pollution levels continued to make the lives of citizens difficult. The smog is now visible from space, satellite imagery from NASA’s worldview showed. The satellite imagery showed a huge cloud of grey smog that blankets Pakistan’s Punjab province. This comes days after some cities in Pakistan logged record-breaking pollution…
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Pakistan is seeking the re-profiling of over $27 billion in debt and liabilities owed to China, Saudi Arabia and the United Arab Emirates (UAE) to secure an International Monetary Fund (IMF) bailout package and ease consumer tariffs and energy sector foreign exchange outflows, reported Pakistani publication Dawn on Monday. Pakistani Finance Minister (FM) Muhammad Aurangzeb on Sunday said that Islamabad had already…
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China’s emergence as a world factory has induced developed states to seek protectionism to spur industrialisation, arguing that the country’s overcapacity’ is a strategic risk to their market economies. Instead of pursuing financial globalisation like many nations, Beijing had earlier mainly focused on industrialisation, which led to growth in all other sectors of the economy. Now, many policymakers and economists…
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Abu Dhabi, UAE/Baku, Azerbaijan, 11 November 2024 – As COP29 opens in Baku, the International Renewable Energy Agency (IRENA) has released its 2024 World Energy Transitions Outlook, urging countries to significantly strengthen their climate commitments in the upcoming third round of Nationally Determined Contributions (NDCs) in 2025. Current climate pledges fall short of what is required to limit global warming…
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