Day: October 15, 2022

Jamie Dimon Says Oil And Gas Is The Only Way To Protect America

Admin

Three days after Jamie Dimon sparked a marketwide selloff which sent stocks to fresh 2022 lows after he predicted a US recession in “6 to 9” months, citing drivers including rising interest rates, persistent inflation and Russia’s invasion of Ukraine, and warned stocks could drop another 20%, the JPMorgan CEO who is expected to report earnings tomorrow (and hopefully clarify why his bank refuses to move its deposit rate above 0.01% in the process keeping $2.2 trillion in liquidity locked inside the overnight funding facility), doubled down today saying the Fed can’t…

Read More

U.S. Shale Could Peak In 2024: Energy Aspects

Admin

U.S. crude oil output from shale basins could peak in 2024, a new note from Energy Aspect’s Amrita Sen cautioned. The note referenced five crude oil producers in the United States that are considering cutting rigs at the start of the year due to inflation. The news comes as the United States shows signs of desperation for alleviating high gasoline prices at the pump by releasing millions and millions of barrels of crude oil from the Strategic Petroleum Reserve and by attempting—and failing–to strongarm OPEC+ into keeping production steady. Those…

Read More

Chinese investment quite helpful for Balochistan, says BEF president

Admin

he President, Balochistan Economic Forum (BEF), Sardar Shoukat Popalzai has said that Chinese investment is a major milestone on improving socioeconomic development in the province of Balochistan. He expressed concern over recent statements from a National Assembly Member from the province of Balochistan, in which he has used very harsh words for Chinese companies making investments in the province including power projects. The MNA even accused them of destroying the environment and marine life in the coastal areas, besides denying jobs to locals. Sardar Shoukat Popalzai regretted that such statements…

Read More

KE consumers: Rs8.37bn refund approved by Nepra

Admin
Karachi Electric

National Electric Power Regulatory Authority (Nepra) on Friday approved refund of Rs 8.37 billion at the rate Rs 4.8862/ kWh to the consumers of K-Electric and an increase of Rs.0.1918/ kWh in tariff of power Distribution Companies for August 2022 under monthly Fuel Charges Adjustment (FCA) mechanism. The regulator conducted public hearings on the FCA adjustment requests of KE and Discos/ CPPA-G on September 29, 2022, attended by officials of KE, CPPA-G, NTDC, NPCC and consumers’ representatives. KE had sought negative adjustment of Rs 4.211/ kWh to refund Rs7. 217…

Read More

World Bank chief asks govt to implement fiscal, energy reforms

Admin

The World Bank Group President David Malpass, has urged the government of Pakistan to focus on the implementation of Pakistan’s fiscal and energy reforms to stabilise the economy and lay the foundation for sustained growth. Malpass met with Muhammad Ishaq Dar, Minister of Finance and Revenue and Sardar Ayaz Sadiq, Minister of Economic Affairs of Pakistan. According to a statement issued by the bank, President Malpass emphasized to the ministers the importance of predictable economic policies to restore macroeconomic stability and market confidence. Malpass expressed his condolences for the loss…

Read More