Latest news with #DSS
Business Recorder
2 days ago
- Business
- Business Recorder
Power sector debt: Govt secures historic Rs1.275trn loan deal from banks
ISLAMABAD: After months of negotiations on term sheets and legal formalities, the government has finalized agreements for a historic loan package of Rs 1.275 trillion with approximately 18 commercial banks to address the growing circular debt in the power sector. According to sources, the draft agreements are now ready for final approval by the Federal Cabinet. The loan aims to offset a portion of the circular debt, which currently stands at approximately Rs 2.3 trillion. The government has already secured the International Monetary Fund's (IMF) endorsement for its circular debt reduction plan, which includes borrowing from commercial banks. Of the total debt, around Rs 700 billion is currently held on the books of the Power Holding Company Limited (PHL) on behalf of the power distribution companies (Discos). Rs1.275trn loan to tackle circular debt: CPPA-G likely to sign term sheets with 18 banks During ongoing discussions with the IMF Review Mission, both the Finance Division and the Power Division briefed the mission on the status of negotiations with commercial banks and the terms outlined in the draft agreements. Under the deal, commercial banks will extend fresh loans amounting to Rs 617 billion at an interest rate of 10.50–11 percent, pegged to the Karachi Interbank Offered Rate (KIBOR) minus 0.2 percent. Repayments will be made over six years through the Debt Service Surcharge (DSS), which is currently charged to consumers at Rs 3.23 per unit in electricity bills. To meet IMF structural benchmarks, the government also plans to uncap the DSS, which currently represents 10 percent of the total revenue of power companies. This will be done through a legislative amendment, enabling the payment of interest and partial repayments of loans raised by PHL that appear on Discos' balance sheets. 'We have finalized all necessary documentation and term sheets with the banks, and these are expected to be approved before Eid (this week),' a source confirmed. Earlier reports suggested that commercial banks had requested guarantees from the State Bank of Pakistan in case of government default. However, sources indicated that government negotiators emphasized the systemic risk to banks' investments if the power sector were to collapse—an implied warning rather than a direct threat. A government official denied any coercion, stating that banks were merely urged to recognize the severity of the situation. 'This is a massive, unprecedented transaction in Pakistan, so naturally, many aspects needed to be carefully finalized,' the official said. Another senior official involved in the initiative confirmed that all outstanding matters with the banks have been resolved. 'The indicative term sheet was signed by all banks last week. It now awaits approvals from the federal cabinet and the CPPA-G Board. A summary will be submitted to the cabinet next week, after which the loan documentation will be completed within three to four weeks,' he explained. Loan disbursements are expected before the end of the current month so that reduced figures of circular debts are shown in the budget documents. According to official documents, the government has committed to borrowing Rs 1.252 trillion from commercial banks to repay all outstanding PHL loans (Rs 683 billion) and settle the remaining interest-bearing arrears owed to power producers (Rs 569 billion). The loan is expected to be secured at more favourable terms than those currently applied to the existing circular debt—one of the primary factors contributing to its accumulation. Repayments will be made over six years through DSS collections. Copyright Business Recorder, 2025
Hi Dubai
2 days ago
- Entertainment
- Hi Dubai
Dubai's June 2025 Events Calendar
June 2025 ushers in a dynamic calendar of events, transforming Dubai's world-class indoor venues and cooling attractions into bustling hubs of entertainment, insightful business, and unforgettable family experiences. Far from a quiet period, this month is a testament to Dubai's relentless energy and commitment to offering year-round excitement for residents and visitors alike. From soulful concerts by global legends to thrilling theatrical productions, cutting-edge trade exhibitions, and engaging family festivities, June in Dubai promises a rich variety of experiences designed to cater to every taste and interest. Prepare to immerse yourself in the city's unique blend of cultural vibrancy and modern innovation, all while enjoying the comfort of Dubai's state-of-the-art facilities. Major Seasonal Highlights June 2025 kicks off with significant celebrations and the launch of a beloved citywide festival, setting a festive and engaging tone for the month. Eid Al-Adha Celebrations Thursday, 5 June – Sunday, 8 June, 2025 Eid Al-Adha, the 'Festival of Sacrifice,' is one of the most significant holidays in the Islamic calendar. Dubai will come alive with heartfelt celebrations, special promotions, and family-friendly activities across the city. Expect spectacular fireworks displays at iconic landmarks, themed events at malls, and special culinary offerings at restaurants and hotels. It's a time for families to gather, exchange greetings, and enjoy the city's festive atmosphere. Price: Free to attend many public festivities; specific events and dining experiences vary. Dubai Summer Surprises (DSS) Kick-Off Friday, 27 June – Sunday, 31 August, 2025 Dubai Summer Surprises (DSS) is the emirate's highly anticipated annual summer festival, returning for its 28th edition. It transforms Dubai into a shopping, entertainment, and leisure paradise, offering citywide promotions, exclusive deals, daily flash sales, and exciting raffles across malls and retail destinations. DSS also features a robust calendar of family-friendly entertainment, live shows, and culinary experiences. Keep an eye out for the full calendar of events to be unveiled by Dubai Festivals and Retail Establishment (DFRE). Price: Free to attend many mall activations; shopping deals and event tickets vary. Live Entertainment & Concerts Dubai's world-class indoor arenas, such as the Coca-Cola Arena and Dubai Opera, will host an array of musical talents, theatrical spectacles, and stand-up comedy shows, ensuring the city's vibrant entertainment scene continues unabated. Mohamed Abdo Live @ Coca-Cola Arena Saturday, June 7, 2025 The legendary Saudi Arabian artist, Mohamed Abdo, known as "Artist of the Arabs," returns to Dubai for an unforgettable night. On the occasion of Eid Al-Adha, he will perform his timeless songs, showcasing his rich repertoire and captivating stage presence. This is a must-see for fans of classic Arabic music. Price: Tickets typically start from AED 195. The Little Mermaid @ The Raj Mahal Theatre, Dubai Parks and Resorts Saturday, June 14, 2025 (Multiple show timings) Dive under the sea with a magical theatrical rendition of "The Little Mermaid." This enchanting production brings the classic fairy tale to life with vibrant costumes, captivating music, and stunning performances, perfect for families and children. Experience Ariel's journey in a grand theatrical setting. Price: Tickets start from AED 120. Abida Parveen Live @ Coca-Cola Arena Saturday, June 14, 2025 Prepare to be mesmerized by the unparalleled voice of Abida Parveen, the undisputed "Queen of Qawwali." The iconic Pakistani Sufi singer returns for a highly anticipated showcase, performing her soul-stirring ghazals, kafis, and Sufi tracks from her illustrious 50-year career. This is a rare opportunity to witness a living legend. Price: Tickets from AED 150 - AED 1,000. Abish Mathew Live in Dubai @ Warehouse Four Sunday, June 15, 2025 View this post on Instagram A post shared by Abish Mathew (@abishmathew) India's popular comedian and content creator, Abish Mathew, returns to Dubai for an evening of laughter. Known for his unique blend of observational humor, musical comedy, and relatable storytelling, Abish promises a show that's both hilarious and heartwarming. The performance is primarily in English, with engaging moments in Hindi. Price: Tickets typically start from AED 105. Circus 1903 @ Coca-Cola Arena Friday, June 20 – Sunday, June 22, 2025 Step back in time to the golden age of the circus with "Circus 1903." This internationally celebrated production features heart-stopping acrobatics, awe-inspiring aerialists, strongmen, and lifelike elephant puppets. From the creative minds behind Cirque du Soleil, this show promises a thrilling and nostalgic experience for the whole family. Price: Tickets typically start from AED 150. Wael Kfoury Live @ Dubai Opera Saturday, June 21, 2025 View this post on Instagram A post shared by Wael Kfoury (@waelkfoury) "The King of Romance," renowned Lebanese crooner Wael Kfoury, is set to make his highly anticipated debut at the prestigious Dubai Opera. With over 25 years of hits like "El Bint El Awiye" and "Omri Kellou," Kfoury will deliver an evening of passionate and nostalgic melodies, showcasing his charismatic stage presence. Price: Tickets from AED 1550 - AED 2550. Mary J. Blige Live in Dubai @ Coca-Cola Arena Monday, June 23, 2025 The undisputed Queen of Hip-Hop Soul, Mary J. Blige, will grace the stage at the Coca-Cola Arena for her first performance in the UAE in over a decade. With a career spanning three decades, nine Grammys, and countless hits, her concert promises an evening of powerful vocals and iconic R&B and soul anthems. Price: Tickets from AED 295 - AED 595. Atul Khatri Live @ Dubai College Auditorium Saturday, June 28, 2025 View this post on Instagram A post shared by Atul Khatri (@one_by_two) Prepare for an evening of sharp wit and relatable humour as renowned Indian comedian Atul Khatri performs his brand-new solo act, "Well Trained." Known for turning everyday observations into laugh-out-loud moments, Atul Khatri promises an unforgettable night of stand-up comedy. Price: Tickets from AED 120.19 - AED 271.69. Adnan Sami Live @ Coca-Cola Arena Sunday, June 29, 2025 The legendary Indian-Pakistani singer, musician, and composer, Adnan Sami, will perform live at the iconic Coca-Cola Arena. Known for his soulful voice and exceptional piano skills, Sami will enthral the audience with his chart-topping hits and unique blend of classical and contemporary music, ensuring a magical evening. Price: Tickets start from AED 150. Business & Trade Exhibitions: Fueling Growth and Innovation The Dubai World Trade Centre (DWTC) remains a crucial hub for industry professionals, hosting several significant trade exhibitions in June. International Appliance and Electronics Show @ Dubai World Trade Centre (Halls 7-8) Wednesday, June 11 – Friday, June 13, 2025 This premier expo showcases the latest innovations in home appliances, consumer electronics, and smart home solutions. It's a vital platform for industry professionals, buyers, and tech enthusiasts to explore cutting-edge products, network with suppliers, and discover future trends in the electronics market. Price: Free (Trade visitors registration required). China Homelife Expo @ Dubai World Trade Centre (Sheikh Saeed Hall) Wednesday, June 11 – Friday, June 13, 2025 As one of the largest sourcing platforms for Chinese products in the MENA region, China Homelife Expo offers a vast array of goods across various sectors including furniture, textiles, building materials, and consumer goods. It provides a direct connection for Middle Eastern buyers and distributors with Chinese manufacturers, fostering new trade relationships. Price: Free (Trade visitors registration required). Middle East Event Show @ Dubai World Trade Centre (Sheikh Maktoum Hall) Tuesday, June 17 – Wednesday, June 18, 2025 (Exhibition & Seminars) This essential gathering for professionals in the MICE (Meetings, Incentives, Conferences, Exhibitions) and live events industry provides insights into venue technology, immersive solutions, and invaluable networking opportunities. It's a key platform for event organisers, suppliers, and creative visionaries to explore the latest trends shaping the Middle East's booming events sector. Price: Free (Trade visitors registration required). Solar & Storage Live / Mobility Live, Middle East Rail & EV Live @ Dubai World Trade Centre (Hall 6-8) Tuesday, June 24 – Wednesday, June 25, 2025 These co-located events collectively spotlight advancements in critical sectors. "Solar & Storage Live" focuses on solar power, smart grids, and energy storage. "Mobility Live," "Middle East Rail," and "EV Live" cover transport innovation, electric vehicle technology, and rail infrastructure. These events reflect Dubai's commitment to sustainability, smart city development, and future mobility. Price: Free (Trade visitors registration required). Sports Events While outdoor sports activities might slow down due to the summer heat, Dubai's indoor facilities ensure the sporting spirit remains high. UAE Netball Cup 2025 Saturday, June 14, 2025 This annual tournament showcases local netball talent and brings together teams from across the UAE for a day of competitive and spirited matches. It's a fantastic opportunity to support local athletes and witness the growing netball community in the Emirates. 971 Fighting Championship @ Coca-Cola Arena Sunday, June 15, 2025 Experience the thrill of combat sports at the 971 Fighting Championship. This event features a lineup of intense mixed martial arts (MMA) and other fighting disciplines, bringing together regional and international fighters for a night of adrenaline-pumping action and high-stakes competition. Price: Tickets typically start from AED 100. Dubai in June 2025, despite the rising temperatures, clearly stands as a testament to its commitment to being a year-round global destination. The meticulously curated events calendar, from the spiritual observances of Eid Al-Adha and the exciting launch of Dubai Summer Surprises, to captivating concerts, essential trade shows, and thrilling sports events, ensures that the city's pulse remains vibrant and engaging. Whether you're seeking cultural enrichment, high-octane entertainment, valuable business networking, or refreshing family adventures, Dubai's diverse offerings in June provide ample opportunities. Remember to always consult official ticketing platforms and venue websites for the most current information, as event details can be subject to change. Embrace the warmth and energy of Dubai this June, and discover why it remains a city that continually exceeds expectations. Also Read: Dubai World Trade Centre Hosts Powerhouse Line-Up of Industry and Consumer Events This June Dubai World Trade Centre (DWTC) is set to transform into a hub of global commerce, innovation, and entertainment this June, hosting a packed calendar of high-impact events across technology, fashion, mobility, and more. Arab Social Media Influencers Summit 2025 Kicks Off in Dubai The Arab Social Media Influencers Summit 2025 opened today in Dubai, drawing top content creators, decision-makers, and digital media professionals for a powerful close to the Arab Media Summit 2025. Eid al-Adha Anticipated on June 6 in Majority of Islamic Countries The International Astronomical Centre has confirmed that the crescent moon marking the start of Dhu al-Hijjah 1446 AH will be sighted on Tuesday, May 27, signaling the beginning of this important Islamic month. Mohammed bin Rashid named Inspirational Literary Figure as Dubai hosts Silk Road Poetry Festival His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, has been honoured as the Inspirational Literary Figure for Silk Road Poets by the World Silk Road Forum.
Time of India
4 days ago
- General
- Time of India
62% cut in PM2.5 needed to meet national standards
New Delhi: Delhi requires another 62% cut in PM2.5 levels to meet the national clean air standards, reveals a new report by the Centre for Science and Environment (CSE) released on Thursday. Tired of too many ads? go ad free now The air quality trend since 2018, when most of the monitoring stations were set up, shows that the average annual PM2.5 levels (based on 38 stations) show a 10% increase since 2018 overall. However, after the pandemic year of 2020–21, the levels increased, stayed elevated, and the curve turned upward in 2023–24. "The maximum values in 2024 were the highest in the past few years. Delhi requires as much as a 62% reduction in its annual PM2.5 average level to meet the national ambient air quality standard," the report says. Anumita Roychowdhury, CSE's executive director, said: "What is needed here is more aggressive upscaling of mobility strategies, zero-emission vehicle transition, robust waste management, action on unregulated industry and the use of solid fuels in households, and regional airshed level interventions." The report highlighted that though Delhi has a large number of air quality monitoring stations, these are not well distributed to cover the population in all land uses, and there are still some "shadow zones" with low station density. "Currently, the monitoring stations in Delhi are mainly centred in and around the southern and central parts of Delhi. The southwest and northwest peripheries have minimal monitoring stations, leading to gaps in air quality monitoring. The stretch between Mundka, Bawana and Narela should have more monitoring stations as these are the areas that record some of the highest PM2.5 levels," the report said. CSE, which analysed the data of the Decision Support System (DSS), which is the dynamic forecasting of IITM, identified the top concerns among local sources as vehicles, industries in Delhi and its periphery, construction, waste burning and residential fuel. Tired of too many ads? go ad free now "Post crop burning season, the share of crop fire is less than 1%, the share of NCR and other districts is 64%, and the contribution of local pollution sources in Delhi increases further to 36.54%. At 30%, the contribution of local sources is significant, especially when it is considered that the city needs to reduce PM2.5 levels by 62% from a very high annual level of 105 micrograms per cubic metre," the report said. CSE said that between 2019–20 and 2024–25 financial years, Delhi received Rs 42.69 crore under the NCAP programme of the ministry of environment, forests and climate change (MoEFCC), out of which Rs 13.94 crore or 32.64% was spent.
Yahoo
4 days ago
- Entertainment
- Yahoo
The President Is Dead (In Helldivers 2)
'The President of Super Earth has been killed in action by the Illuminate during the fall of Prosperity City.' That was the message that greeted Helldivers 2 players when they logged on last night in one last bid to repel their invading squid-like foes. Some truthers think the hit was inside job. When the dust settled Friday morning, the battle to save Super Earth was over and players had succeeded in winning the extraction shooter's biggest showdown since it launched. Pus they got a new battle station to celebrate. 'The devastation wrought upon our home is immense,' read the latest in-game dispatch from Arrowhead Game Studios. 'Only two Mega Cities remain standing: Prosperity City and Equality-on-Sea. The remainder have been vacated by the enemy, having suffered catastrophic damage at their hands.' New Major Orders are still pending, but in the meantime players get to vote on where to move the new DSS battle station that aided in the fight, and that provides extra military bonuses to Helldivers fighting on whatever planet it orbits. For anyone who missed the last two weeks, a brief series of entries on the Galactic Map recaps the events from the Illuminate's arrival and torching of Mars and other planets, all the way through players' epic last stand to protect Equality-on-Sea (Helldivers' version of Shanghai). A lot of creative military tactics were improvised and deployed to take down the massive invading Leviathan ships, and a wave of negative Steam reviews, purportedly from Chinese players angry, due to a potential mistranslation, about why they couldn't seem to fully liberate Equality-on-Sea, appears to have subsided. reddit-thread-Helldivers-1kz1lp4 What happens next is anyone's guess. Arrowhead Game Studios might take some time before kicking off whatever it has planned to let players catch their breath. Maybe the development team is lining up a revenge campaign, or maybe there's still another shoe to drop and Super Earth isn't quite in the clear after all. A new president? In this economy? Maybe they're just an Illuminate plant after all, ready to control Super Earth from within. The beauty of Helldivers 2's fascist space satire is that nothing is ever quite out of the question. May kicked off one of Helldivers 2's biggest balance patches and content updates in some time, including a new Warbond battle pass with additional melee weapons and the ability to level up and customize most of the shooter's guns. I wouldn't bet on any other big updates anytime soon. That said, Summer Game Fest is just around the corner and Arrowhead used host Geoff Keighley's last big gaming showcase to announce the addition of the Illuminate to the fray. Who knows what's in store for the second half of Helldivers 2's second year? . For the latest news, Facebook, Twitter and Instagram.
Yahoo
5 days ago
- Business
- Yahoo
South Dakota coalition forms to oppose Medicaid cuts
SIOUX FALLS, S.D. (KELO) – A new coalition of healthcare professionals, patient advocates, rural leaders and small business owners from across the state is launching 'Hands Off Medicaid – South Dakota' to oppose proposed federal cuts to Medicaid and ACA subsidies. 29-year-old state inmate dead; 9th this year 'This bill represents a complete retreat from decades of bipartisan progress in expanding access to health care,' said Earl Pomeroy, former North Dakota Congressman and Insurance Commissioner in a press release. The group emphasized the proposed cuts would be especially harmful to rural South Dakota health centers. More than 147,000 South Dakotans currently rely on Medicaid, according to the South Dakota Department of Social Services (DSS). 'Medicaid gives people access to lifesaving medications and treatments like insulin, asthma inhalers, prenatal care, and cancer screenings. For almost 27,000 South Dakotans, this bill means losing coverage entirely.' said Ben Hanson, Head of Government Affairs for the American Cancer Society – South Dakota in a press release. The coalition formed after the U.S. House passed a budget to cut Medicaid coverage, which would pull coverage from thousands, hurt rural hospital funding, and threaten mental health and addiction services–despite only 9% of SD voters supporting the cuts. 'When coverage rates fall, rural health centers lose critical funding — putting access to primary care, maternal care, dental services, and behavioral health at risk for everyone in those communities.' said Shelley Ten Napel, CEO of the Community HealthCare Association of the Dakotas in a press release. The coalition plans to continue expanding in the coming weeks and months, and urges South Dakotans to contact Senators Mike Rounds and John Thune about protecting Medicaid as the budget bill heads to the U.S. Senate. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
