The world-famous Hagia Sophia museum in Istanbul – originally founded as a cathedral – has been turned back into a mosque. Turkey’s President Recep Tayyip Erdogan announced the decision after a court annulled the site’s museum status. Built 1,500 years ago as an Orthodox Christian cathedral, Hagia Sophia was converted into a mosque after the Ottoman conquest in 1453. In…
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DUBAI: Malaysia recorded 4,233,425 tourist arrivals for the first quarter of 2020. This marks a decrease of 36.8% compared to the same period in 2019. The tourist expenditure for the first quarter recorded a total of RM12.5 billion, a decrease of 41.5% compared to RM21.4 billion registered for the same period in 2019. Per capita expenditure also showed a decline of 7.4% from RM3,201.8 in 2019 to RM2,964.5 this year. The…
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All the tax collection agencies in Pakistan should be dismantled and merged into National Tax Agency (NTA) which alone can effectively enforce tax laws both at federal and provincial levels. NTA, a competent and effective body, set up on modern lines, should have representations of all constituents of the federation of Pakistan. NTA having national-wide data at one place and…
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ISLAMABAD: National Electric Power Regulatory Authority (Nepra) has reportedly charge sheeted NTDC and CPPA-G for inflicting billions of rupees financial loss to electricity consumers and national exchequer by violating merit order and plant under-utilization, well informed sources told Business Recorder. This was revealed in an analysis conducted by the regulator of generation of power plants on the basis of data…
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Energy Transfer is not emptying or shutting down the Dakota Access Pipeline and is using all legal ways to fight the court order from Monday that would shut down the oil pipeline by August 5. On Monday, a federal judge ruled that the Dakota Access Pipeline (DAPL), in operation since 2017, must be emptied and shut down within 30 days,…
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Anyone connected or exposed to the dynamics of the oil price must be wondering if the recovery in the oil price is sustainable and, indeed, whether it has further to go. Some point to the collapse of industry pioneer Chesapeake Energy into Chapter 11 as a bullish development, arguing the loss of major producers just as demand is recovering in…
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The oil demand crash in April, when most of America was under stay-at-home orders, resulted in the biggest monthly inventory jump in U.S. commercial crude oil inventories in data going back to 1920, the U.S. Energy Information Administration (EIA) said on Thursday. In April, U.S. commercial crude stocks soared by 46.7 million barrels, or by 10 percent, as demand for…
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Last August, Iran’s Foreign Minister, Mohammad Zarif, paid a visit to his China counterpart, Wang Li, to present a roadmap on a comprehensive 25-year China-Iran strategic partnership that built upon a previous agreement signed in 2016. Many of the key specifics of the updated agreement were not released to the public at the time but were uncovered by OilPrice.com at…
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Siemens Gamesa Renewable Energy announced that it has launched its new turbine, the SG 3.4-145, into India’s onshore wind market. Siemens said that the new wind turbine is specifically designed and optimized for wind conditions in India and aims to deliver the lowest possible Levelized Cost of Energy (LCoE) with high reliability. The new wind turbine is an extension of…
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A Russian vessel capable of completing the pipelaying for the Gazprom-led Nord Stream 2 natural gas pipeline project left a German port on Wednesday and entered Danish waters where the last section of the controversial pipeline has yet to be completed. According to vessel-tracking data from Refinitiv Eikon cited by Reuters, Russian ship Fortuna, sailing under a Russian flag, departed…
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