Panama Bans New Metal Mining Permits Amid Protests; Controversial Canadian Project Survives
The president of Panama Laurentino Cortizo signed into law a national moratorium on issuing new metal mining permits after weeks of mass protests in the country against a controversial Canadian project. The legislation of this Central American state also explicitly banned the renewal of the existing concessions after their terms expire. This metal mining ban […]
Oil Giant Shell Exits Pakistan After 75 Years
Shell Plc has formally conveyed to the Pakistan Stock Exchange (PSX) that it has decided to exit Pakistan and sell its 77.42 percent shares to Saudi Arabian Wafi Energy LLC. Shell Petroleum Company Limited, a subsidiary of Shell plc, has agreed to sell its majority interest in Shell Pakistan Limited (SPL) to this Saudi company, […]
UN Official Resigns Over Israel-Gaza ‘Genocide,’ Calls for Dismantling of ‘Settler-Colonial Project’
The United Nations (UN) high-ranking official Craig Mokhiber resigned in protest that it failed to stop the Israel-Gaza war and ‘genocide’ of Palestinians through the hands of Israeli forces. In a detailed communication addressed to UN High Commissioner for Human Rights Volker Türk, Mokhiber called for the immediate dismantling of what he described as a […]
Chinese Firms’ Withdrawal Dents Pakistan Steel Mills Privatization
Amid a substantial downturn in Chinese investment in the China-Pakistan Economic Corridor (CPEC), several major Chinese companies have withdrawn from the proposed acquisition and investment in state-run Pakistan Steel Mills. The decision marks a setback for the privatization of this largest non-functional 19,000-acre industrial facility. Before ceasing its operations in June 2015, the facility was […]
Pakistan’s weekly inflation eases
Pakistan’s weekly inflation rate eased by a third of a percentage point over the previous week driven by a decline in some kitchen items’ prices, especially pulses, chicken, onions, rice, sugar, and wheat flour. During the week ending on October 26, chicken prices in one week dropped by 10.2 percent to Rs312/kg, while onions became […]
Pakistan Halts Auto Parts Import Quotas for Japanese Carmakers Over Policy Violations, No Licenses Revoked
Pakistan’s has ceased the revalidation of the auto parts imports quota of three Japanese carmakers Toyota, Honda and Suzuki for violating the requirements of auto policy 2021-26. No license has been suspended. They policy calls for localization of vehicles while these companies are importing over 75 percent from japan including engines. Besides, the policy has […]
U.S. Imposes Sanctions on Chinese Firms for Alleged Missile Tech Supply to Pakistan
In a major move, the United States imposed sanctions on three Chinese companies on Friday for their alleged involvement in providing Pakistan with ballistic missile technology and components, a statement of the U.S. State Department said. It says that the sanctions were imposed in alignment with the global nonproliferation regime. The sanctions come after Pakistan […]
Bird Nesting in Farmland Vulnerable to Extreme Heat, Study Reveals
As the Earth gets hotter because of climate change, the bird nesting becomes tougher and they hardly find safe places in farmlands to lay eggs and raise chicks. It leads to 46 percent fewer chances to have at least one chick when it gets really hot. A study by researchers looked at a big database with […]
Pak Suzuki Motor Company to Delist from Pakistan Stock Exchange
The Board of Directors (BoD) of Pak Suzuki Motor Company (PSMC) announced its decision to acquire all outstanding shares of the company and delist from the Pakistan Stock Exchange (PSX), as disclosed in a notice issued to the bourse on Thursday. The decision, made during a BoD meeting of the Suzuki motors, follows the PSX […]
How Americans Reacted to the Inflation Crisis?
Over the last two years, high inflation has adversely affected the American economy. This inflation crisis is undermining the financial well-being of millions of citizens, especially of the fixed-income population. Notably, basic necessities, like food, fuel, and housing, have become increasingly expensive, further burdening individuals. The high inflation has pushed citizens toward fiscal prudence and […]
