Category: Highlights

UAE CG Releases Green Turtle Hatchlings at Hawkesbay, Urges Responsible Tourism

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Consul-General

KARACHI: UAE Consul General in Karachi, Bakhit Atiq al-Rumaithi, participated as the chief guest in a conservation event at Turtle Beach, Hawkesbay, where he released green turtle hatchlings into the Arabian Sea. The event, organized by the Sindh Wildlife Department (SWD), aimed to promote environmental protection and marine life conservation. The SWD’s Deputy Conservator, Mumtaz Soomro, and Marine Turtle Unit In-Charge, Ashfaq Memon, were also present. Al-Rumaithi, after viewing a documentary on green turtles that migrate to Pakistan’s shores for breeding, released a hatchling, symbolizing the start of its journey…

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Saudi Aramco Q3 Profit Falls 15% Amid Lower Oil Prices, Dividend Remains Steady

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Saudi-Aramco

DUBAI: Saudi Aramco reported a 15.4% decline in third-quarter profit, with net income at $27.6 billion, impacted by lower crude prices and reduced refining margins. Despite the profit dip, the oil giant maintained its substantial dividend at $31.1 billion for the quarter, including $10.8 billion in performance-linked payouts. This third-quarter performance surpassed analysts’ estimates, including Citi’s projection of $26.3 billion. Aramco’s dividend policy combines performance-linked payouts with a base dividend, ensuring steady returns even when earnings fluctuate. The Saudi government, directly holding 81.5% of Aramco, relies on these dividends, along…

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Oil settles down 2% on receding hurricane risk, lackluster China stimulus

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crude oil

NEW YORK, Nov 8 (Reuters) – Oil prices settled more than 2% lower on Friday as traders grew less fearful of prolonged supply disruptions from a hurricane in the U.S. Gulf of Mexico, while China’s latest economic-stimulus packages failed to impress some oil traders. U.S. West Texas Intermediate futures led the decline and settled at 70.35 per barrel, down by 2.7%, or $1.98. Global benchmark Brent crude futures fell by 2.3%, or $1.76, to$73.87 per barrel.

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Attock Refinery delays upgrade project due to tax dispute

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Attock Refinery delays

Sales tax issue on crude and refined products blocks progress on high-investment refinery expansion KARACHI: Attock Refinery Limited (ATRL) has delayed the execution of its multi-million-dollar refinery upgrade project, aimed at increasing the production of premium products like petrol and diesel, due to unresolved tax-related issues. The project, which is designed to reduce the production of outdated furnace oil and ensure compliance with Euro-V fuel standards, now hinges on resolving sales tax adjustments related to crude oil purchases and refined product sales. During a corporate briefing on Friday, Senior Analyst…

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Press Handout: National Transmission & Despatch Company (NTDC) Restructuring

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(NTDC) Restructuring

Press Handout: National Transmission & Despatch Company (NTDC) RestructuringThe Government of Pakistan has initiated a comprehensive restructuring of the NationalTransmission & Despatch Company (NTDC) to modernize Pakistan’s power sector,enhance efficiency, and improve access to reliable electricity. This initiative marks atransformative step towards a more transparent, competitive, and sustainable energymarket.Key Highlights of the Restructuring Plan:

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