Year: 2025

ISLAMABAD: Chairperson of the Senate Standing Committee on Climate Change, Senator Sherry Rehman, has cautioned that the Global South cannot endure another climate summit of “slogans without substance,” stressing that the crisis is real and existential for vulnerable nations. Delivering keynote addresses at the London School of Economics Environment Week on the Road to COP30, she said: “Our house is burning. As micro-emitters, many developing countries did not create this ball of fire, yet we are paying the highest price.” Rehman called for urgent reforms in climate financing, arguing that…

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KARACHI: Pakistan’s largest oil refiner, Cnergyico, has booked a second shipment of US crude after deeming its initial purchase commercially viable, Vice Chairman Usama Qureshi said on Wednesday, signaling the possibility of sustained imports. The company will receive a 1 million-barrel cargo of West Texas Light (WTL) crude in November under a term supply arrangement with European trader Vitol, Qureshi confirmed. “This is our second cargo. Our trading team evaluated several options for November and found WTL’s gross refining margin slightly better than Gulf crude,” he said, adding, “If economics…

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KARACHI: The Pakistan Stock Exchange (PSX) extended its positive run on Wednesday as optimism grew over a major financing agreement between the government and commercial banks to address the country’s mounting power sector circular debt. Despite investor caution ahead of the upcoming IMF review for the release of a $1 billion tranche starting September 25, the benchmark KSE-100 index crossed the 158,000-point barrier during the session. According to Topline Securities, the index gained as much as 1,101 points intraday before profit-taking trimmed the advance. It eventually closed at 158,236 points,…

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