The Sindh High Court (SHC) on Friday directed the K-Electric (KE) to end unscheduled load-shedding and remove illegal connections from across the city. A two-member bench, comprising Justice Khadim Hussain M Shaikh and Justice Arshad Hussain Khan, was hearing a plea seeking the disconnection of illegal connections and an end to power cuts in exempted areas. Justice Shaikh observed that everyone in Karachi was complaining about the power utility, adding that the lives of Karachi’s people had been rendered miserable by illegal connections and unannounced power outages. “In such a…
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Schlumberger Books Second Consecutive Loss Amid Shale Bust
The world’s largest oilfield services provider, Schlumberger (NYSE:SLB), reported on Friday a second straight quarterly loss on the back of a dramatic revenue slump in U.S. shale and asset impairment charges in what “has probably been the most challenging quarter in past decades,” as CEO Olivier Le Peuch said. The company also announced it would get rid of 21,000 jobs as oil producers rein in spending. Schlumberger reported on Friday a net loss of US$3.434 billion for the second quarter, after a US$7.376-billion loss for Q1, which was the result…
Read MoreUkraine Opposes U.S. LNG Pricing Formula
Ukraine’s state-held gas firm Naftogaz is reportedly opposed to the pricing formula for U.S. liquefied natural gas (LNG) it could receive under a long-term contract, while there isn’t enough infrastructure ready to ship American LNG from Poland into Ukraine, analysts have told DW. The U.S. is eager to supply its LNG to central and eastern European markets, especially Poland and Ukraine, arguing that American gas is superior to gas from Russia, which binds economic contracts with politics. However, talks between Louisiana Natural Gas Exports Inc and Ukraine’s Naftogaz have stalled,…
Read MoreOne of the oldest businesses on the internet just got sold for $9 billion
Norway’s Adevinta is buying eBay’s (EBAY) classified ads business for $9.2 billion to create the world’s largest online classifieds company.In the age of Google (GOOGL)and Facebook (FB), classifieds aren’t exactly a mammoth business: They made up only about 3% of the $125 billion internet advertising market in 2019, according to the Interactive Advertising Bureau, the global industry body for digital advertising.But there was a day when Craigslist and the company that became eBay Classifieds were among the biggest advertising platforms on the newfangled World Wide Web.EBay Classifieds Group got its…
Read MoreApple promises to become fully carbon-neutral by 2030
Apple has pledged to become a carbon-neutral operation by 2030, a commitment that covers its entire supply chain and the lifecycle of all its products, including the electricity consumed in their use. The company is aiming to achieve the goal by means including: Low-carbon product design, using recycled materials where possible, and developing new techniques such as a carbon-free aluminium smelting process. Use of renewable energy, including projects funded by and built for Apple directly, which in total provide 1GW of capacity to the company’s corporate operations. Carbon removal, through forest…
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