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Day: November 11, 2024

75 Years of Greener Together – Denmark and Pakistan Celebrate Diplomatic Milestone and GreenPartnerships

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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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Pakistan creates 20 new trade posts in China to boost exports, investment

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pak-china

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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Pakistan pollution: NASA images show toxic black smog visible from space, Lahore’s AQI above 600

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toxic black smog visible from space

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

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$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…

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Updating globalisation

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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…

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

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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…

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President NBP, Rehmat Ali Hasnie, Highlights Path Forward for Pakistan’s Financial Sector

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Future-Summit

Mr. Rehmat Ali Hasnie, President of NBP, emphasized the crucial role of the financial sector in driving Pakistan’s economic growth in his recent session at The Future Summit. He highlighted that the financial sector must be viewed as more than just basic banking access, as it forms the foundation for economic resilience and empowerment. He mentioned that integrating everyone into…

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

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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…

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Solar Power Surge Cuts Demand and Revenue for DISCOs Amid Rising Electricity Costs

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Solar-Power

LAHORE: As rising electricity tariffs burden consumers, a growing shift to solar power has led to a 17% decrease in grid electricity demand, causing significant revenue losses for Pakistan’s power distribution companies (DISCOs). To counteract this trend, the government introduced the Bijli Sahulat Package on Friday, offering an 18-50% discount on additional electricity usage from December to February for residential,…

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

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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.…

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