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Articles for tag: hands, hold, lenders, offers, Pakistan, Power, renewable, warn, world

February 23, 2025

News Desk

World lenders warn Pakistan to hold hands from renewable power offers

Power Transmission Tower in Karachi, Pakistan, January 24, 2023 – Reuters Islamabad: A warning has been issued to the Pakistani government by a coalition of leading international lenders, warning that its transition to unilaterally renegotiating electricity market agreements (PPA) with independent independent power producers (IPPs). Development Funding Institutions (DFIS), including Asian Development Bank (ADB), KFW, FMO and Islamic Development Bank (ISDB), were warned in a highly worded DFI letter sent to key government ministers bypassing their lenders Renewable Energy Energy Contracts could lead to serious consequences. “We believe that the renegotiation of PPAs in a non -conventional manner will be

January 28, 2025

News Desk

“The world has not learned their lesson,” Auschwitz’s survivors warn

Listen to the article Monday marked Holocaust’s Remembrance Day and the 80th anniversary of the liberation of Auschwitz-Virkenau, the Nazi concentration camp, where about 1.1 million people were murdered from 1940 to 1945. . Jona Laks, 94, returned to Auschwitz, recalling the horrors she suffered as a child along with her twin sister Miriam, who suffered inhumane medical experiments conducted by doctor SS Josef Mengele. The Laks were initially lined up for gas chambers, were saved by her older sister, who insisted that the twins were not separated. “It is necessary for people to know,” he told CNN, stressing that

January 11, 2025

News Desk

Climate change is fueling Los Angeles’ devastating wildfires, experts warn

Climate change is increasing the frequency of extreme weather events, with scientists now linking these fluctuations to the devastating wildfires sweeping through Los Angeles. Rapid shifts between wet and dry conditions – called “climate shocks” – have created a dangerous surplus of dry vegetation, ripe for ignition. A new study reveals that climate change has increased the likelihood of these “whiplash” conditions globally by 31-66% since the mid-20th century. The researchers point to California as a prime example of this phenomenon, where years of severe drought were followed by torrential rains in 2022 and 2023. However, a return to extremely

October 12, 2024

News Desk

Nobel Peace Prize winners warn of growing risk of nuclear war

Japan Confederation of A-Bomb Victims Organizations (Nihon Hidankyo) Co-President Toshiyuki Mimaki gestures as he speaks during an interview with Reuters the day after Nihon Hidankyo won the 2024 Nobel Peace Prize, in Hiroshima, western Japan, on October 12, 2024. — Reuters The international situation is getting progressively worse: survivor. “The only way to stop this is to denuclearize,” he says. August next year will mark 80 years since the bombings. TOKYO: Leaders of the Nobel Peace Prize-winning group of atomic bomb survivors warned on Saturday that the risk of nuclear war was growing, renewing their call for the abolition of

September 4, 2024

News Desk

Business leaders warn of exit of foreign companies

KARACHI: Business leaders have sounded the alarm, calling on the government to take seriously the exodus of multinational enterprises (MNEs) from Pakistan. They expressed concerns that this trend is leaving both workers and highly skilled professionals unemployed, while foreign and local investors are becoming increasingly wary of the country’s economic environment. Majeed Aziz, former president of the Karachi Chamber of Commerce and Industry (KCCI) and a prominent business figure, emphasized that the exit of multinational companies and relocation of local companies’ offices abroad is an important issue. “It seems policymakers have buried their heads in the sand or government doctors

UK, Egypt warn of dangers in airspace over Iran, Lebanon amid fears of conflict

LONDON/CHICAGO: Britain and Egypt asked their airlines on Wednesday to avoid Iranian and Lebanese airspace, amid growing fears of a possible wider conflict in the region after the killing of senior members of the militant groups Hamas and Hezbollah. Britain’s advice to its airlines to avoid Lebanese airspace came hours after Egypt ordered all its airlines to avoid Iranian airspace for three hours early Thursday. Many airlines worldwide are revising their schedules to avoid Iranian and Lebanese airspace, while also suspending flights to Israel and Lebanon. Flying through conflict zones became a prominent industry safety issue a decade ago after

Flooding in Brazil will take weeks to recede, experts warn

PORTO ALEGRE: The capital of Brazil’s southernmost state could face severe flooding for weeks to come, experts warn, exacerbating the struggles of half a million people who have been forced to flee their flooded homes. Parts of Rio Grande do Sul state have seen more than 630 mm (25 inches) of rain so far this month, national weather service INMET said – more than London’s average rainfall in a year. The waters of Lake Guaiba, which overflowed its banks and flooded the state capital of Porto Alegre, rose again this week to 5.22 meters (17.13 feet), well above the flood

April 24, 2024

News Desk

PBF and PPDA warn of oil price deregulation

LAHORE: Pakistan Business Forum (PBF) and Pakistan Petroleum Dealers Association (PPDA) said on Tuesday that any attempt by the Oil and Gas Regulatory Authority (Ogra) to liberalize oil prices is a recipe for financial disaster. Deregulation of oil prices could plunge the nation into hyperinflation and economic instability. Given the extreme volatility of the oil supply chain, manipulation could lead Pakistan to a situation where a small loaf of bread would cost more than a bag full of local currency. Addressing an emergency meeting with PBF, PPDA Executive Committee member Hassan Shah informed the audience that deregulation will make refineries

April 3, 2024

News Desk

Industrialists warn of rising production costs

KARACHI: Business leaders have warned that a major hike in petrol prices will lead to price increases across all commodities and products, adding 5% to the cost of all industrial production. Speaking to The Express Tribune, they expressed concern that the tough conditions imposed by the International Monetary Fund (IMF) would burden the nation, instead of affecting the rulers and bureaucracy who have long enjoyed luxuries. According to the release, the price of petrol in the international market has increased in the last fortnight, while the price of high speed diesel (HSD) has marginally declined. As a result, the government

March 23, 2024

News Desk

Experts warn of internet outages

KARACHI: According to Information Technology (IT) experts, the government should explore viable alternatives instead of resorting to suspension of mobile broadband and data services. They argue that such outages not only disrupt entire IT services, but also cause significant financial losses to IT businesses, affecting both public and private organizations as well as the general public in the country. IT-related businesses include numerous services, including those provided by the IT sector, Internet Service Providers (ISPs), commercial banks and their respective applications, online stores, and others. People rely heavily on mobile phones or digital apps for payments and various online services

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