Category: Highlights

Oil prices ease on China demand fears, focus on Mideast talks

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Oil-prices

TOKYO, Aug 19 (Reuters) – Oil prices eased in early Asian trading on Monday as fears of weaker demand in top oil importer China weighed on market sentiment while investors focus on the progress of ceasefire talks in the Middle East, which could reduce supply risks. Brent crude futures dropped 13 cents, or 0.2%, to $79.55 per barrel by 0032 GMT. U.S. West Texas Intermediate crude futures slid 13 cents, or 0.2%, to $76.52 a barrel. Both benchmarks fell nearly 2% last Friday as investors tempered expectations of demand growth from China,…

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Shehbaz Govt May Follow Imran Khan’s Lead on IPPs, but With Strategic Tweaks

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ISLAMABAD: The Shehbaz Sharif-led government appears poised to adopt a similar approach to the Imran Khan administration in its dealings with Independent Power Producers (IPPs). This strategy includes reducing the Rate on Equity for public sector power plants, shutting down five Gencos to achieve a cost relief of up to Rs 4 per unit, and renegotiating existing contracts from a “take or pay” to a “take and pay” mechanism, according to well-placed sources. However, unlike previous efforts, this time the focus on addressing undue gains or profits by the IPPs…

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Call for CPEC to Become a Model Green Belt Initiative

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CPEC-new

LAHORE: The President of the Pakistan-China Joint Chamber of Commerce and Industry (PCJCCI), Moazzam Ghurki, has called for transforming the China-Pakistan Economic Corridor (CPEC) into a model green Belt and Road Initiative (BRI) to safeguard the natural environment in the region. Speaking at a think tank session held at the PCJCCI on Thursday, Ghurki highlighted that such a transformation would not only protect the environment but also boost the adoption of green technologies and the production of renewable energy within ongoing CPEC projects across the country. He emphasized that efforts…

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KCCI worried over delays in restoration of internet speed, social media apps

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social-media

KARACHI: President Karachi Chamber of Commerce & Industry (KCCI) Iftikhar Ahmed Sheikh, while expressing deep concerns over slow internet connectivity and the subsequent faults as well as limited access to social media applications, stated that although it was assured that the internet connectivity would normalize upon installation of safety firewall but the issue persists which has resulted in terribly affecting all types of business activities.In a statement issued, President KCCI said that the Karachi Chamber has been receiving a large number of complaints from its member-firms who were finding it…

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OGRA Launches “Plant for Pakistan” Initiative

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OGRA

Islamabad, August 13, 2024: In commemoration of Pakistan’s 77th Independence Day, the Oil and Gas Regulatory Authority (OGRA) has launched the “Plant for Pakistan” initiative, reflecting the nation’s commitment to combating the adverse impacts of climate change. The eco-friendly drive was inaugurated by OGRA Chairman, Masroor Khan, who planted a tree alongside Members of the Authority and OGRA employees. The initial phase saw the planting of over 200 trees on the green belt in front of the OGRA Headquarters in Islamabad, in collaboration with the Capital Development Authority (CDA). Chairman…

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