Author: HeraldStar

Qaiser Nawab, Chairman of the Belt and Road Initiative for Sustainable Development (BRISD), extends warm wishes to the government and people of China on the occasion of the Chinese New Year and expresses his profound appreciation for H.E. President Asif Ali Zardari’s official visit to China from 4th to 8th February 2025. This visit comes at a historic moment, symbolizing the beginning of a new era of progress and cooperation between Pakistan and China – two true friends and iron brothers. As China welcomes the Lunar New Year with hopes for renewal and prosperity, this high-level diplomatic engagement reinforces the…

Oil prices edged lower on Wednesday, with the U.S. benchmark crude slipping nearly 1% after a surprising rise in crude stockpiles in the U.S., the world’s largest producer and consumer of petroleum. As of 12:14 p.m. EST (1714 GMT), Brent crude futures were down 43 cents, or 0.6%, at $77.06 per barrel, while U.S. crude futures dropped 64 cents, or 0.9%, to $73.13. The latest data from the U.S. Energy Information Administration (EIA) revealed that crude oil stockpiles rose by 3.46 million barrels last week, a larger-than-expected increase. Analysts had forecasted a 3.19 million-barrel increase, but refiner intake continued its…

In a bold move towards sustainable energy, Repsol (REP.MC) has announced plans to invest over 800 million euros ($834 million) into a new green methanol plant in northeastern Spain. This investment marks a significant leap forward in the company’s efforts to transition towards cleaner energy alternatives while contributing to the European Union’s climate goals. The new facility, dubbed the Ecoplant, will be located in Tarragona and is scheduled to begin operations in 2029. Once fully operational, the Ecoplant will process up to 400,000 tons of municipal solid waste per year, transforming it into 240,000 tons of renewable fuels and circular…

The Bank of Canada made a significant move on Wednesday, reducing its key policy rate by 25 basis points to 3%, citing concerns over the impact of U.S. tariffs and persistent inflation. With President Donald Trump’s promise to impose a 25% tariff on all imports from Canada starting Saturday, the Canadian central bank is preparing for potential economic fallout. Canada’s economy is heavily reliant on trade with the U.S., with 75% of all goods and services exports directed south of the border. Bank of Canada Governor Tiff Macklem warned that a protracted trade war could severely hurt Canada’s economic activity,…

A U.S. solar industry group, the Solar Energy Industries Association (SEIA), has unveiled an ambitious target to deploy vast amounts of energy storage capacity by 2030, aiming to bolster renewable energy’s ability to meet the needs of power-hungry customers. This goal comes in response to the rising electricity demands from large energy consumers, such as data centers, which have been turning to traditional energy sources like nuclear, geothermal, and natural gas power plants. SEIA envisions that large-scale energy storage, primarily through lithium-ion batteries, can ensure that zero-emission energy sources like wind and solar can meet demand even when the sun…

Israeli Prime Minister Benjamin Netanyahu held a key meeting in Jerusalem on Wednesday with U.S. President Donald Trump’s Middle East envoy, Steve Witkoff, amidst the fragile Gaza ceasefire and an ambitious regional diplomatic push. The meeting comes at a critical juncture, as the ceasefire, which began on January 19, is part of an ongoing effort to stabilize the region and reduce tensions between Israel and Gaza. It was reported that Witkoff had also recently visited Saudi Arabia, followed by a trip to Gaza, where he oversaw the implementation of the ceasefire and its terms. His visit is seen as a…

Switzerland has announced plans to ban international adoptions following concerns over potential abuses in the practice. The government cited findings from an independent group of experts, which concluded that even well-designed adoption laws cannot fully prevent exploitation. The decision, aimed at protecting vulnerable children, was based on the experts’ report and past irregularities in international adoptions. The number of international adoptions in Switzerland has significantly dropped from several hundred to just 30 per year. A proposal for the ban, along with potential exceptions for intrafamily adoptions, is expected to be drawn up by the end of 2025 for public consultation.

The Republican-led U.S. Senate Judiciary Committee has advanced Pam Bondi’s nomination as President Donald Trump’s attorney general, setting the stage for a full Senate vote later this week. The 12-10 vote saw Democrats opposing her confirmation, voicing concerns about Bondi’s ability to resist potential improper or illegal orders from President Trump. Bondi, a former Florida attorney general, reassured lawmakers during her confirmation hearing that she would uphold the independence of the Justice Department and avoid politicizing criminal or civil investigations. However, skepticism remains as recent actions by the Trump administration, such as firing and reassignment of career Justice Department employees,…

The abrupt suspension of U.S. foreign aid by President Donald Trump has sent shockwaves across the globe, threatening critical humanitarian programs and leaving millions at risk. The freeze, initiated as part of Trump’s “America First” agenda, has put in jeopardy essential healthcare, landmine clearance efforts, and refugee assistance in crisis-hit regions from Thailand to Ukraine. With the United States accounting for 42% of global aid, the impact of the 90-day suspension is being felt worldwide. Refugee camps in Thailand, home to nearly 100,000 displaced people from Myanmar, have already been forced to shut down clinics due to halted funding from…

Shipping companies using the Baltic Sea may soon be required to pay a fee to help finance the protection of vital undersea cables, Estonia’s Defence Minister Hanno Pevkur announced on Wednesday. The proposal comes in response to growing concerns over acts of suspected sabotage targeting power and communication lines in one of the world’s busiest maritime routes. The Baltic Sea, bordered by eight NATO nations and Russia, has recently seen a series of alarming incidents involving ships allegedly damaging critical infrastructure with their anchors. In response, NATO has committed to deploying frigates, patrol aircraft, and drones to enhance security. However,…