You are here

Category: Highlights

Pakistan makes $27-billion request from China, Saudi and UAE. Here’s why

Admin
$27-billion request

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…

Read More

Updating globalisation

Admin
globalisation

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…

Read More

NDCs 3.0: A Defining Moment for Global Climate Goals to Triple Renewables by 2030

Admin
2023-2050

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…

Read More

UAE CG Releases Green Turtle Hatchlings at Hawkesbay, Urges Responsible Tourism

Admin
Consul-General

KARACHI: UAE Consul General in Karachi, Bakhit Atiq al-Rumaithi, participated as the chief guest in a conservation event at Turtle Beach, Hawkesbay, where he released green turtle hatchlings into the Arabian Sea. The event, organized by the Sindh Wildlife Department (SWD), aimed to promote environmental protection and marine life conservation. The SWD’s Deputy Conservator, Mumtaz Soomro, and Marine Turtle Unit…

Read More

Saudi Aramco Q3 Profit Falls 15% Amid Lower Oil Prices, Dividend Remains Steady

Admin
Saudi-Aramco

DUBAI: Saudi Aramco reported a 15.4% decline in third-quarter profit, with net income at $27.6 billion, impacted by lower crude prices and reduced refining margins. Despite the profit dip, the oil giant maintained its substantial dividend at $31.1 billion for the quarter, including $10.8 billion in performance-linked payouts. This third-quarter performance surpassed analysts’ estimates, including Citi’s projection of $26.3 billion.…

Read More

Oil settles down 2% on receding hurricane risk, lackluster China stimulus

Admin
crude oil

NEW YORK, Nov 8 (Reuters) – Oil prices settled more than 2% lower on Friday as traders grew less fearful of prolonged supply disruptions from a hurricane in the U.S. Gulf of Mexico, while China’s latest economic-stimulus packages failed to impress some oil traders. U.S. West Texas Intermediate futures led the decline and settled at 70.35 per barrel, down by…

Read More

Attock Refinery delays upgrade project due to tax dispute

Admin
Attock Refinery delays

Sales tax issue on crude and refined products blocks progress on high-investment refinery expansion KARACHI: Attock Refinery Limited (ATRL) has delayed the execution of its multi-million-dollar refinery upgrade project, aimed at increasing the production of premium products like petrol and diesel, due to unresolved tax-related issues. The project, which is designed to reduce the production of outdated furnace oil and…

Read More

Press Handout: National Transmission & Despatch Company (NTDC) Restructuring

Admin
(NTDC) Restructuring

Press Handout: National Transmission & Despatch Company (NTDC) RestructuringThe Government of Pakistan has initiated a comprehensive restructuring of the NationalTransmission & Despatch Company (NTDC) to modernize Pakistan’s power sector,enhance efficiency, and improve access to reliable electricity. This initiative marks atransformative step towards a more transparent, competitive, and sustainable energymarket.Key Highlights of the Restructuring Plan:

Read More

National grid under pressure after consumers switching to solar energy: experts

Admin
solar-panels

ISLAMABAD, NOV 8 (DNA): Consumers switching to self-generated power, especially solar energy, has put Pakistan’s national energy infrastructure under growing pressure, endangering the grid’s long-term sustainability and stability, experts said. Event tickets At the Sustainable Development Policy Institute’s (SDPI) annual plenary on Thursday, experts encouraged policymakers to create a comprehensive plan that strikes a balance between the expansion of renewable…

Read More

Pakistan again requests China to finalize $1bn loan for Karachi-Hyderabad rail project

Admin
Karachi-Hyderabad rail project

Pakistan has renewed its request for China to hold a critical financing committee meeting to negotiate a nearly $1 billion loan for the Karachi-Hyderabad segment of the long-delayed Mainline-I (ML-I) railway project, a key component of the China-Pakistan Economic Corridor (CPEC). The Express Tribune reported that the Pakistani embassy in Beijing issued the request last week, marking the second appeal in…

Read More