ISLAMABAD: Days after ordering a probe into the record fuel cost adjustment (FCA) demanded by distribution companies, the power regulator appr­o­ved the hike, which will put an additional strain of Rs55 billion on electricity users. In a remarkable turnaround on its proclamations, the National Electric Power Regulatory Autho­rity (Nepra) notified the additional fuel cost adjustment (FCA) of Rs7.06 per unit …

ISLAMABAD: All the power distribution companies (Discos) including K-Electric showed poor performance during 2022-23 against set targets, resulting in cumulative financial losses of about Rs1 trillion a year and adding more than Rs350 billion to the circular debt. Based on performance evaluation reports (PERs) of the Discos including KE, the National Electric Power Regulatory Authority (Nepra) on Monday called for drastic structural …

KARACHI: Political stability and strong corporate results continued driving bullish sentiments on the stock market as a result the KSE-100 index extended its overnight gains to settle above the 63,000-point level on Monday. Ahsan Mehanti of Arif Habib Corporation said the easing of political noise as was reflected in the smooth election of Punjab and Sindh chief ministers ended the …

TASHKENT: A court in Uzbekistan sentenced 23 people to prison terms on Monday over the deaths of 68 children linked to contaminated cough syrups produced by India’s Marion Biotech, following a six-month-long trial. The Central Asian nation had previously reported 65 deaths linked to the medicines, but last month the prosecutors at the Tashkent city court updated the death toll and said …

AMMAN: The Jorda­nian army on Monday said it had carried out a series of humanitarian aid drops of food and other supplies into the besieged Gaza Strip, one of them by a French army plane. Jordanian forces made “four air drops carrying aid for the people of Gaza”, under the directive of Jordanian King Abdullah II, a statement said. The …

RAWALPINDI: Another member of the Pakistan International Airlines (PIA) cabin crew has reportedly gone missing while on duty, after landing in Canada. Maryam Raza arrived in Toronto on PIA flight PK-782 from Islamabad on Monday, but failed to report for duty on the return flight, PK-784 to Karachi. When the authorities opened her hotel room, they found her uniform with …

NEW DELHI: Indian Railways said on Monday it had ordered an investigation after a runaway freight train loaded with gravel travelled 70 kilometres (43 miles) without a driver. Around 50 carriages set off solo, careering from the northern state of Jammu and Kashmir to Punjab, before being brought to a halt by wooden blocks placed on the tracks on Sunday. …

BRUSSELS: Farmers on Monday blocked a border crossing between Poland and Germany, threw bottles at police in Brussels and gathered in Madrid to demand action on cheap supermarket prices and what they say is unfair competition from abroad. Agricultural ministers from across the European Union pledged to do more to cut red tape and help farmers as they convened in Brussels to …

BAYANMUNKH SUM: More than two million animals have died in Mongolia so far this winter, a government official said on Monday, as the country endures extreme cold and snow. The landlocked country is no stranger to severe weather from December to March, when temperatures plummet as low as minus 50 degrees Celsius (minus 58 Fahrenheit) in some areas. But this …

BUDAPEST/STOCKHOLM: Hungary’s parliament approved Sweden’s Nato accession on Monday, clearing the last hurdle before the historic step by the Nordic country whose neutrality lasted through two world wars and the simmering conflict of the Cold War. Hungary’s vote ended months of delays to complete Sweden’s security policy shift and followed a visit by Swedish Prime Minister Ulf Kristersson on Friday …