Category: Highlights

Oil prices on track for weekly loss as Chinese demand wanes

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oil price

HOUSTON: Oil prices slipped on Friday and were bound for a weekly loss as investors digested waning Chinese demand and a possible slowing of the U.S. Federal Reserve’s interest rate cut path. Brent crude futures dropped 71 cents, or 0.98%, to $71.85 a barrel by 10:32 a.m. EDT. U.S. West Texas Intermediate crude futures were down 72 cents, or 1.05%, at $67.98. For the week, Brent is set to fall 2.9% while WTI is set to decline 3.6%. China’s oil refiners in October processed 4.6% less crude than a year…

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amfori Asia Sustainability Summit 2024: Asia’s Role in Shaping Responsible Supply Chains for a Sustainable Future

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amfori-Asia

HONG KONG SAR – amfori, a global leader in sustainable trade, successfully concluded its flagship event, the “amfori Asia Sustainability Summit 2024,” at Hotel ICON in Hong Kong SAR, China. The summit gathered over a hundred stakeholders from Asia and Europe, including policymakers, business leaders, and sustainability advocates, to explore Asia’s pivotal role in global trade resilience and sustainability. Under the theme “Shaping Responsible Supply Chains for a Sustainable Future,” the summit facilitated in-depth discussions on sustainable practices, regulatory compliance, and ESG (Environmental, Social, and Governance) challenges within Asian supply…

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Major Development Banks Pledge $120 Billion for Climate Finance by 2030 at COP29

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BAKU — The COP29 summit received a promising early boost as major development banks, including the World Bank, pledged to increase climate finance to $120 billion by 2030. This commitment represents a 60% rise from 2023 funding levels, aimed at supporting developing and middle-income countries grappling with the impacts of global warming. “This is a positive step,” noted Irish Climate Minister Eamon Ryan, who emphasized that further contributions from governments and corporations are essential. China has also mobilized $24.5 billion to assist developing nations, Vice Premier Ding Xuexiang reported, reflecting…

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13th November, 2024

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Karachi: Qurrat Ul Ain, Acting President, FPCCI, has demanded that – while the apex body appreciates the announcement of winter package – the relief in the electricity tariff announced under it should be made available to small & medium enterprises (SMEs) as well through withdrawing the condition of 100,000 units consumption in the corresponding period of last year; and, resultantly, only applying the Rs. 26 / kWh tariff to the incremental units consumed after that threshold. Qurrat Ul Ain, Acting President, FPCCI, explained that SMEs and new industries in particular…

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CM Sindh & , fed maritime minister vows to address , tackling sea pollution, revive Keti Bandar port project

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CM-Sindh

KARACHI (Nov 13): Sindh Chief Minister Syed Murad Ali Shah and Federal Minister for Maritime Qaiser Shaikh, during their meeting, discussed addressing fishermen’s issues, tackling sea pollution and plans to develop Keti Bandar as a new port. The meeting was held at CM House and was attended by Secretary to CM Raheem Shaikh and Chairman Port Qasim Rear Admiral Nasir Shah. At the outset, the discussion between the two began with the issue of fishing trawlers, which are depleting fish resources by destroying fish seedlings. The Chief Minister noted that…

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