Category: highlights

Saudi Aramco profits down 12.39 percent in 2024: statement

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Saudi Aramco profits

RIYADH: Saudi Aramco’s net profits dropped 12.39 percent to $106.25 billion in 2024, the world’s biggest oil exporter said on Tuesday, following a year of lower prices and output cuts. Profits fell on lower revenues “primarily attributable to lower prices and volumes sold of crude oil, as well as lower refined and chemical product prices”, it said. Expected dividends for 2025 also fell heavily to $85.4 billion, down from $124.3 billion announced for last year by the mainly state-owned company. Aramco is the chief source of revenue for Crown Prince…

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Oil prices stable as tariff and Ukraine uncertainty dominates sentiment

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Oil falls

LONDON: Oil prices were little changed on Monday after registering a monthly loss for the first time since November, while investors await the outcome of efforts to end the Russia-Ukraine war and repercussions from U.S. tariffs. Brent crude rose 11 cents, or 0.15%, to $72.92 a barrel by 1105 GMT while U.S. West Texas Intermediate crude was up 3 cents, or 0.04%, at $69.79. Ukrainian president Volodymyr Zelenskiy said on Sunday that he believed he could salvage his relationship with U.S. President Donald Trump. However, he said talks needed to…

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China’s Two Sessions and it’s impact on Pakistan-China relations

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Pakistan-China relations

Pakistan views China’s Two Sessions —the annual gatherings of the National People’s Congress (NPC) and the Chinese People’s Political Consultative Conference (CPPCC)—as a pivotal event for the future of bilateral cooperation. These sessions provide Pakistan with key insights into China’s economic, regional and global priorities, which directly have the positive impact on the trajectory of the China-Pakistan relationship, especially within the context of the China-Pakistan Economic Corridor (CPEC). Each Two Sessions meeting concentrates on three main strategic priorities that China aims to achieve: economic growth, social harmony and international strategic…

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India must double renewable capacity additions to meet 2030 clean-energy targets, report says

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double renewable capacity additions

India must double renewable capacity additions to meet 2030 clean energy targets report say February 27, 2025 India must double its annual solar and wind capacity additions over the next five years to meet its 2030 clean-energy targets, despite record additions in 2024, Global Energy Monitor (GEM) said in a report on Wednesday. India added nearly 28 gigawatts (GW) of solar and wind capacity in 2024, with solar power additions accounting for 70% of total additions, according to the country’s renewable energy ministry. The country has set a target to…

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Pakistani, Chinese firms sign strategic pact for EVMs in Pakistan

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Electric-Car

Shanghai Launch Automotive Technology Co., Ltd. (LAUNCH) and Yousuf Dewan Companies (YDC) who are pioneer electric vehicle assembly company in Pakistan, have officially signed a Memorandum of Understanding (MoU) in Beijing.Pakistani cuisine recipes  This agreement marks a significant step in bringing advanced electric vehicle (EV) technology to Pakistan and promoting sustainable mobility solutions in the region.  In the signing ceremony, Khan Muhammad Wazir, Science Councilor, and Idrees Gigi, Director Projects of YDC along with senior officials from LAUNCH marked the official commencement of this exciting partnership.  The two sides thanked…

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