Category: Highlights

NEPRA to Hold Public Hearing on Winter Relief Package

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Power project

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has scheduled a public hearing on November 26 to consider the federal government’s proposed winter incentive package aimed at boosting electricity demand during the low-consumption months. The subsidy-neutral package, approved by the Economic Coordination Committee (ECC) on November 19, is set to be implemented from December 1, 2024, to February 28, 2025. It offers discounted electricity rates for residential, commercial, and industrial consumers on incremental usage, with discounts ranging from 18% to 50% based on consumption slabs. The initiative seeks to counteract…

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Consortium withdraws bid to acquire majority stake in Engro Powergen Qadirpur

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ENGRO-1

A consortium comprising textile companies has withdrawn its public announcement of intention (PAI) to acquire a majority stake i.e. 68.89% of Engro Powergen Qadirpur Limited (EPQL), a subsidiary of Engro Energy Limited. The development was shared by Arif Habib Limited (AHL), manager to the offer, in a notice to the Pakistan Stock Exchange (PSX) on Friday. “This is with reference to the PAI made by Liberty Mills Limited, Zain Ashraf Mukaty, Temoor Ashraf Mukaty, Ahmed Ashraf Mukaty, Soorty Enterprises (Pvt) Limited, Affinity Capital Pvt Limited, Najeeb Malik, Nadeem Malik, and Shahzad Malik…

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Global LNG: Asian spot LNG gains amid colder weather, stronger Europe gas prices

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gas prices

SINGAPORE: Asian spot liquefied natural gas (LNG) prices rose this week to their highest level of the year so far, tracking gains in European gas and amid colder temperatures in both regions. The average LNG price for January delivery into northeast Asia rose to $14.60 per million British thermal units (mmBtu), industry sources estimated. “This week’s further escalations between Russia and Ukraine have returned a steep risk premium to European gas and by default Asia’s JKM market, despite actual gas supplies being uninterrupted,” said Florence Schmit, energy strategist at Rabobank…

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COP29 Draft Rejected as Negotiators Struggle to Finalize Climate Finance Deal

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COP-29-2

BAKU: Negotiators at the COP29 UN climate summit are racing against time to secure a breakthrough trillion-dollar deal to assist poorer nations in combating global warming after both developed and developing nations rejected an initial draft proposal. The summit, originally scheduled to conclude on Friday, is expected to extend into overtime as the Azerbaijani hosts scramble to revise the contentious draft. The primary goal of COP29 is to establish a new funding framework to succeed the $100 billion annual pledge by wealthy nations, focusing on emissions reductions and climate adaptation.…

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Cristiano Ronaldo and MrBeast team up for groundbreaking YouTube collaboration

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Cristiano Ronaldo and MrBeast team up

The announcement follows a leaked image on November 17 that hinted at the partnership. Ronaldo shared a preview on his official YouTube channel, revealing the video titled I Meet MrBeast To Break The Internet will premiere on November 21 at 6 AM PT / 9 AM EST. While fans are excited, the collaboration has drawn mixed reactions due to ongoing controversies involving MrBeast, including allegations of workplace misconduct. Despite these challenges, MrBeast remains the platform’s top creator, consistently pulling millions of views within hours of uploads. Ronaldo, a football legend…

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