Category: Highlights

Pakistan Downs Five Indian Fighter Jets in Retaliation to Overnight Air Strikes: Tensions Escalate Across Border

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indian-rafale-jet

KARACHI – May 7, 2025 In a dramatic escalation of military tensions between Pakistan and India, five Indian fighter jets were reportedly downed by Pakistan’s armed forces following overnight strikes by India on six sites within Pakistani territory. The strikes, which began shortly after 1am on Wednesday under what India termed “Operation Sindoor,” targeted areas in Punjab’s Sialkot and Bahawalpur districts as well as regions in Azad Jammu and Kashmir (AJK), including Kotli, Bagh, and Muzaffarabad. According to the Inter-Services Public Relations (ISPR), India carried out the air strikes from…

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Chairman OGDCL Zafar Masud’s Book ‘Seat 1C’ Launched in Islamabad

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OGDCL

ISLAMABAD, May 6, 2025: Chairman of Oil and Gas Development Company Limited (OGDCL) Zafar Masud’s book titled “Seat 1C: A Survivor’s Tale of Hope, Resilience, and Renewal” was launched on Tuesday at a well-attended ceremony hosted by the Islamabad Policy Research Institute (IPRI).The event was inaugurated by President IPRI, Lieutenant General (Retd) Majid Ehsan, HI(M). The book, which chronicles Masud’s miraculous survival in a plane crash five years ago, offers a deeply personal reflection on life, trauma, and recovery.The panel discussion featured the author Zafar Masud, editor Syeda Amna Hassan,…

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Gwadar Coal Power Project Faces Financial, Regulatory Hurdles: Chinese Firm Raises Alarm

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cpec

ISLAMABAD: The planned 300 MW coal-fired power plant in Gwadar, a key component of the China-Pakistan Economic Corridor (CPEC), is facing serious financial and regulatory challenges, according to a detailed letter from M/s CIHC Pak Power Company Limited (CPPCL) to the Private Power and Infrastructure Board (PPIB). CPPCL Chairman Zhao Bo raised concerns over delayed approvals, foreign exchange losses, and restrictions on currency conversion, which have rendered the project commercially unviable in its current form. In his letter to Shah Jahan Mirza, Managing Director of PPIB, Zhao confirmed that CPPCL…

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Shell Q1 profit drops 28%, but beats expectations

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shell

LONDON: Shell on Friday reported a 28% drop in first-quarter net profit to $5.58 billion, beating analyst expectations, and kept the pace of its share buyback programme steady amid falling oil prices and lower refining margins than last year. It said it would buy back $3.5 billion worth of shares for the next three months, the fourteenth consecutive quarter of a buyback programme of at least $3 billion. That contrasts with rival BP, which has sharply cut its buybacks this year to shore up its balance sheet. Shell’s gearing, a…

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Canada’s Imperial Oil posts rise in quarterly profit on stronger refining margins

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Oil prices

Canadian oil producer Imperial Oil posted a rise in first-quarter profit on Friday, driven primarily by stronger margins in its refining and fuel sales business, sending its U.S.-listed shares up nearly 6% before the bell. Canadian producers have benefited from the completion of the Trans Mountain pipeline expansion project, which raised its capacity to 890,000 barrels per day. The pipeline offers producers the only export route to international markets bypassing the United States. “The upstream business continued to benefit from improved egress and narrower heavy oil differentials, while our downstream…

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