Venezuela once considered one of Latin America’s prosperous countries has plunged into the abyss. Years of economic mismanagement, cronyism and corruption have sparked a monumental economic collapse which saw the oil rich country become one of the poorest in South America. There are emerging signs that Venezuela is on the verge of becoming a failed state. Oil plays a dominant…
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BENTON COUNTY, Wash. – Scout Clean Energy (“Scout”), announced plans to add solar and battery storage components to a proposed wind farm that would be located just south of the Tri-Cities in Benton County, Washington. The innovative development will combine wind energy, solar energy, and battery energy storage in the same location – making more renewable energy available to customers…
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New research suggests that power companies are dragging their feet when it comes to embracing green energy sources such as wind and solar. Only one in 10 energy suppliers globally has prioritised renewables over fossil fuels, the study finds. Even those that are spending on greener energy are continuing to invest in carbon heavy coal and natural gas. The lead…
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ISLAMABAD -Two multinational companies are all set to start physical work on setting up their Liquefied Natural Gas (LNG) terminals during next few months after the government opened up the energy sector under its ease-of-doing-business strategy. “The government had allowed five private sector companies to establish their own LNG terminals, out of which two firms Exxon Consortium and Mitsubishi will…
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KARACHI: To promote research in the field of Accounting and Finance, the Institute of Chartered Accountants of Pakistan (ICAP) and Institute of Business Administration laid the foundation of ICAP-IBA Research Unit (IIRU). The two institutes expressed their intention to promote research and development in Pakistan by attracting and retaining outstanding scholars having research interest in the areas relevant to the…
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While the spell of monsoon rains played havoc across the city, key city links were flooded, severing the city’s transportation system and leaving people stranded on roads. Amid the downpour, people were stranded at their offices with no transportation or food. In the wake of the emergency crisis and thunderstorm that shook the whole city, corporates proved to be the…
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BEIJING/SHANGHAI – Four of China’s five largest state-owned banks said they have increased their provisions against bad debt to brace for future losses due to the impact of the global coronavirus pandemic. All five reported their biggest profit falls in at least a decade and an increase in soured loans when announcing their half-year results on Sunday and last week. The results highlight…
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Chocolate is leading the charge on the candy front as the coronavirus pandemic continues. A data-driven report from the National Confectioners Association shows that demand for chocolate has surpassed demand observed in the candy market overall from March 15, 2020 to Aug. 9, 2020. Between those five months, the premium chocolate market saw the largest growth with a sales spike of 12.5%. Non-premium chocolate, on the other…
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An Israeli delegation landed on Monday afternoon in Abu Dhabi to formalize the U.S.-brokered deal to normalize relations with the United Arab Emirates. The delegation is headed by National Security Adviser Meir Ben-Shabbat, joined by his U.S. counterpart Robert O’Brien and senior U.S. Presidential Adviser Jared Kushner.The first meeting between the delegation and Emirati officials following the arrival included discussion…
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Federal Minister for Energy Mr Omar Ayub Khan met H.E Nawaf bin Saeed Ahmed Al-Malki, Ambassador of Kingdom of Saudi Arabia in his office this afternoon. The Minister and Ambassador reviewed the current projects between Saudi Arabia and Pakistan in field of petroleum and energy sector. Federal Minister apprised the envoy about investment-friendly policies introduced by current government in diverse fields…
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