Category: Highlights

Fuel oil smuggling network rakes in $1bn for Iran and its proxies

Admin
oil

DUBAI: A sophisticated fuel oil smuggling network that some experts believe generates at least $1 billion a year for Iran and its proxies has flourished in Iraq since Prime Minister Mohammed Shia al-Sudani took office in 2022, five sources with knowledge of the matter told Reuters. The operation exploits a government policy under which Iraq allocates fuel oil to asphalt plants at heavily subsidised prices and involves a network of companies, groups and individuals in Iraq, Iran and Gulf states, according to the five people and three Western intelligence reports, two…

Read More

Oil prices steady ahead of imminent OPEC+ decision; geopolitical turmoil in focus

Admin
oil price

Oil prices were little changed on Wednesday, with traders expecting OPEC+ to announce an extension to supply cuts this week while heightened geopolitical tensions continue to dominate market sentiment. Brent crude futures were up 5 cents, or 0.07%, at $73.67 a barrel by 1214 GMT while U.S. West Texas Intermediate crude futures fell 4 cents, or 0.06%, to $69.90. On Tuesday, Brent posted its biggest gain in two weeks, rising by 2.5%. A shaky ceasefire between Israel and Hezbollah, South Korea’s curtailed declaration of martial law and a rebel offensive…

Read More

Meta Seeks Nuclear Power Developers to Meet AI and Environmental Goals

Admin
Meta-Project

Meta, the tech giant, is inviting proposals from nuclear power developers to add 1 to 4 gigawatts of U.S. nuclear generation capacity by the early 2030s. This move aligns with the company’s efforts to address rising electricity demand for artificial intelligence and environmental sustainability. “Nuclear energy will play a pivotal role in transitioning to a cleaner, more reliable, and diversified electric grid,” Meta stated. The company’s initiative reflects broader trends, with U.S. data center power demand projected to triple by 2030, requiring 47 gigawatts of new generation capacity, according to…

Read More

KE Cuts Power to Railways Over Unpaid Bills; Railways Cites Rs70 Billion in Dues

Admin
K-Electric

KARACHI: The power utility company, K-Electric (KE), disconnected electricity to Pakistan Railways (PR) on Tuesday over unpaid bills amounting to Rs430 million since May 2024, disrupting key operations, including the online ticketing and signal systems for 38 daily passenger trains from Karachi. In its statement, KE stressed the unsustainability of continuing supply without payment and highlighted repeated defaults despite prior accommodations. “Notices and disconnections have been issued before, but undertakings by railway authorities to clear dues and pay monthly bills have been consistently dishonored,” KE stated. The utility warned that…

Read More

Pakistan-Türkiye Celebrate 77 Years of Diplomatic Ties in Ankara

Admin
Pakistan-Turkiye

Ankara, Türkiye – A celebratory event was held at Pakistan House in Ankara to mark the 77th anniversary of diplomatic relations between Pakistan and Türkiye. The occasion was graced by prominent Turkish leaders, including Former Foreign Minister and Member of Parliament Mevlut Cavusoglu, Chairperson of the Human Rights Investigation Commission of the Turkish Parliament MP Derya Yanik, Former Deputy Prime Minister Recep Akdag, MP Burhan Kayaturk, and dignitaries from academia, business, and media sectors. Strengthening a Historic BondSpeaking at the event, Former Turkish Foreign Minister Mevlut Cavusoglu lauded the enduring…

Read More