20 December 2014

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NEPRA slashes power tariffs by Rs. 2.97 per unit

NEPRA slashes power tariffs by Rs. 2.97 per unit ISLAMABAD: National Electric Power Regulatory Authority (NEPRA) has slashed power tariffs by Rs. 2.97 per unit,NEPRA made the decision after hearing a petition filed by Central Power Purchasing Agency (CPPA) seeking decrease in per unit power rates.The prices have been reduced due to fuel adjustment for the month of November.The revised rates will be not be applicable for the consumers of K-Electric. The nation will receive relief of Rs. 17 billion due to the reduction in power tariffs.According to

Chevron halts effort to explore Beaufort

NEW YORK  Chevron has suspended plans for Arctic exploration offshore Canada due in part to uncertainty following the drop in oil prices, the company told regulators this week.Chevron said plans for exploration in the Beaufort Sea were "on hold indefinitely" due "to a number of factors, including the level of economic uncertainty in the industry," according to a letter the US energy giant sent Wednesday to the National Energy Board (NEB).Chevron s move to halt efforts in the Beaufort, which is heavily regulated due to

Asian markets extend gains after Fed statement

HONG KONG: – Asian markets rallied for a second straight session Friday, boosted by another strong performance on Wall Street while renewed confidence helped push the dollar back towards the 100 yen mark.Tokyo jumped 2.39 percent, or 411.35 points, to 17,621.40 thanks to the weaker yen, while Sydney climbed 2.45 percent, or 127.8 points, to close at 5,338.6 and Seoul advanced 1.71 percent, or 32.48 points, to 1,929.98.Hong Kong climbed 1.25 percent, or 284.42 points, to

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