Category: Latest News

NAB to Take Over Investigation into Sitara Energy Case

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New-NAB

# NAB to Take Over Investigation into Sitara Energy Case **KARACHI:** A significant development has emerged in the investigation against **Sitara Energy** in Faisalabad, with the **National Accountability Bureau (NAB)** set to take over the inquiry involving the company. According to sources, the **NAB Chairman** has written to the Director General of the **Federal Investigation Agency (FIA)**, acknowledging the FIA’s ongoing investigation but stating that, given the financial magnitude of the matter, the case will now be investigated by NAB. The letter reportedly directed the FIA to transfer all relevant…

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Iran War Drives Surge in Demand for Electric Motorcycles in Pakistan

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Electric-Motorcycles

# Iran War Drives Surge in Demand for Electric Motorcycles in Pakistan **KARACHI:** The ongoing Iran war has reportedly triggered an unusual increase in demand for **electric motorcycles in Pakistan**, as rising fuel prices encourage consumers to shift towards more economical transportation options. Around **84 companies** are currently manufacturing or selling electric motorcycles in Pakistan, while new players continue to enter the rapidly expanding market. Industry sources say the increase in fuel prices has significantly boosted consumer interest in electric bikes, which offer lower running and maintenance costs compared with…

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Air Defense Systems Deployed at Trump’s New Jersey Golf Club Amid Iranian Missile Threat

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New-Project295

# Air Defense Systems Deployed at Trump’s New Jersey Golf Club Amid Iranian Missile Threat **WASHINGTON:** Air defense systems have reportedly been deployed at US President **Donald Trump’s golf club in Bedminster, New Jersey**, amid concerns over potential Iranian drone and missile attacks, according to a US defense news website. According to **The War Zone**, videos and photographs taken during Trump’s visit to the golf club showed air defense equipment positioned at the property while the US president was playing golf. The footage was reportedly captured on Sunday, when Trump…

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Govt Sets Six-Year Deadline for Refinery Upgrades, Offers Extra Incentive for Early Completion

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oil-refineries

# Govt Sets Six-Year Deadline for Refinery Upgrades, Offers Extra Incentive for Early Completion **ISLAMABAD:** The government has directed oil refineries to accelerate their multibillion-dollar modernisation projects under the amended **Brownfield Refining Policy 2023**, setting a **six-year deadline** for completion while offering an additional incentive to refineries that finish their upgrades within three years. At a meeting with refinery heads, **Petroleum Minister Ali Pervaiz Malik** conveyed the Federal Cabinet’s decisions and directed companies to finalise and sign their upgrade agreements at the earliest. The meeting was attended by Petroleum Secretary…

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ADNOC Offers Spot Crude in Eighth Tender Since June Amid Strait of Hormuz Disruptions

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# ADNOC Offers Spot Crude in Eighth Tender Since June Amid Strait of Hormuz Disruptions **SINGAPORE:** The **Abu Dhabi National Oil Company (ADNOC)** has launched another tender to sell spot crude, marking its **eighth tender since the beginning of June**, as the UAE state-owned oil giant seeks to move crude from the Gulf amid continued challenges around the Strait of Hormuz, according to trade sources. ADNOC on Monday offered **Upper Zakum, Umm Lulu and Das crude** for loading in October and November. Bids are due by **August 13** and will…

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