Category: Highlights

Qatar Energy signs long-term LNG deal with Shell for delivery to China

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qatar energy

SINGAPORE: State-owned QatarEnergy has signed a long-term sales and purchase agreement with oil and gas major Shell to supply it with liquefied natural gas (LNG) for delivery to China. The deal is for the supply of three million metric tons per annum year of LNG, said QatarEnergy in a statement on Monday, adding that the agreement will start in January 2025. QatarEnergy added that the agreement highlights the continued growth of China’s LNG market, but did not say how long the duration of the supply deal with Shell would be.…

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Oil rises on Chinese data, Middle East tensions

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oil rises

HOUSTON: Oil prices rose on Monday, as strong factory activity in China buoyed hopes of higher demand, and as escalating tensions in the Middle East, where Israel resumed attacks on Lebanon despite a ceasefire deal, spurred supply concerns. Brent crude futures climbed 36 cents, or 0.49%, to $72.20 a barrel by 10:44 a.m. EST (1544 GMT) while U.S. West Texas Intermediate crude rose 34 cents, or 0.5%, to $68.33. “Crude futures are gaining support this morning on positive economic data from China, as well as expectations that OPEC will delay…

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Diamond Jubilee Celebrations of National Bank of Pakistan75 Years of Unwavering Excellence

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Diamond Jubilee

Exuberant celebrations filled with unwavering dedication and opulent prestige marked the 75th anniversary of the National Bank of Pakistan (NBP). Held at the historic Mohatta Palace in Karachi, the event was attended by eminent dignitaries from the government, business community, and customers from across the country.Mr. Rehmat Ali Hasnie, President NBP, warmly welcomed the Chief Guest, Mr. Jameel Ahmad, Governor of the State Bank of Pakistan (SBP), industrial catalysts, and other distinguished guests alongside members of NBP’s management.The event marked the Diamond Jubilee of NBP’s illustrious journey as a cornerstone…

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U.S. Imposes Tariffs on Solar Panels from Southeast Asia Over Dumping Allegations

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Floating Solar

Washington: The U.S. Commerce Department has announced tariffs on solar panel imports from Cambodia, Malaysia, Thailand, and Vietnam following allegations of market dumping. The decision stems from a trade complaint by Hanwha Qcells, First Solar Inc., and other U.S. manufacturers seeking to safeguard domestic solar investments. Dumping duties range from 21.31% to 271.2%, varying by company and country of origin. Key determinations include: Jinko Solar: 21.31% for Malaysian products and 56.51% for Vietnamese-made panels.Trina Solar: 77.85% for Thai products and 54.46% for Vietnamese goods.Hanwha Qcells: No dumping margin for Malaysian…

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Pakistan Secures $500m ADB Loan for Climate Resilience

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SBP-ADB

KARACHI: The State Bank of Pakistan (SBP) has received $500 million from the Asian Development Bank (ADB) under the Climate Change and Disaster Resilience Enhancement Program (CDREP). The inflow, confirmed by the SBP on Friday, will strengthen Pakistan’s foreign exchange reserves. “These funds will be reflected in SBP’s reserves for the week ending November 29, 2024,” the central bank stated, adding that reserves are expected to surpass $12 billion by the end of the month, up from $11.42 billion as of November 22, 2024. The loan agreement with ADB, signed…

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