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Time of India
27-05-2025
- Climate
- Time of India
Kashmir valley faces unprecedented heatwave: Residents advised to take precautions
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Srinagar: The Kashmir Valley is experiencing a severe heatwave, with temperatures rising significantly above normal levels. This has raised concerns among residents and local Meteorological Department in Srinagar has issued heatwave alerts for several areas, warning that high temperatures are expected to continue in the coming extreme heat is disrupting daily routines. Schools have changed their schedules to protect students, and workplaces are seeing lower productivity as people struggle with the are advising residents to stay hydrated, avoid direct sunlight during the hottest part of the day, and watch out for signs of heatstroke and Ahmed Bhat, a Scientific Officer at the MET Department in Srinagar, said, "Kashmir has been experiencing a heatwave for several days, but recent rains in many areas have slightly reduced the intensity. Temperatures remain one to two degrees above normal. However, the weather is expected to change soon, with chances of cooler temperatures and light rain, especially in hilly regions, after the 28th. If temperatures drop by around three degrees, the heatwave conditions are likely to ease within a week. We anticipate continued fluctuations in weather until then, with alternating periods of warmth and rainfall."Bhatt added that the heatwave is due to temperatures rising to 36 degrees Celsius in May, which is late and unusual. He noted that dry weather causes daytime temperatures to rise sharply, often exceeding 30-33 degrees, leading to heatwave departments, including the District Administration and Health Department, have issued guidelines. They recommend staying hydrated and avoiding going out during peak sunlight hours, with special care for the elderly and resident Javed Ahmed said, "Kashmir has never experienced such an intense heatwave before. Rains were expected but did not arrive, leading to prolonged heat. People are facing many difficulties, especially in parts of Wadi Kashmir where the water supply is still unavailable. Access to water is critical in summer, and its shortage is causing great hardship." He also mentioned that the decline in tourism is negatively impacting Hussain, another local, advised, "Avoid travel during peak heat hours to reduce the risk of heatstroke. The government should implement stronger measures to protect people during this heatwave. An advisory has been issued urging everyone to stay hydrated and limit sun exposure. People need to follow these guidelines to stay safe."Javed Ahmed also emphasized that the government should enforce its guidelines, especially for schools. He noted that while adjusting school timings is a good step, more action is needed to help people cope with the the heatwave expected to continue, authorities are preparing to take steps to lessen its impact and ensure public safety.
Business Wire
15-05-2025
- Business
- Business Wire
Stonepeak and Energy Equation Partners to Acquire Majority Interest in JET from Phillips 66
LONDON & HOUSTON--(BUSINESS WIRE)--Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, and Energy Equation Partners ('EEP'), a newly formed investment firm with significant expertise in fuel retail, today announced an agreement to acquire a majority interest in JET Tankstellen Deutschland GmbH ('JET'), a leading fuel retailer in Germany and Austria, from a subsidiary of Phillips 66 (NYSE: PSX), in a transaction valuing the business at an enterprise value of approximately €2.5 billion. Phillips 66 will retain a 35% minority interest in JET as part of the transaction through a newly formed joint venture. JET is one of the largest fuel retailers in Germany and Austria, serving more than 700,000 customers daily with quality products at fair prices through a network of 970 service stations. Located primarily in urban and high-traffic areas, JET also operates convenience stores, car washes and a rapidly growing EV charging network. JET has been named Germany's most popular gas station brand by YouGov Deutschland for 15 years in a row. 'We are pleased to partner with Phillips 66 and Stonepeak to build on the strong foundation of the JET platform,' said Javed Ahmed, Managing Partner of Energy Equation Partners. 'Together with the outstanding JET team and its dedicated service station operators, we aim to strengthen JET's leadership in both fuel and non-fuel retail across Germany and Austria. We are committed to supporting a seamless transition and continuing JET's legacy as a key player in the evolving retail energy sector.' 'JET's high-quality network of critical infrastructure assets is well positioned to continue reliably serving the needs of its customers over the long-term," said Anthony Borreca, Senior Managing Director and Co-Head of Energy at Stonepeak. 'Under Phillips 66's ownership, JET has grown into one of the largest fuel retailers in Germany and Austria. We are excited to join forces with them, as well as Javed and the EEP team, who have long-standing experience investing in and operating retail fuel distribution and logistics globally, to support the next phase of JET's growth.' The transaction is expected to close in the second half of 2025, subject to customary regulatory approvals. Akin Gump Strauss Hauer & Feld LLP and Hengeler Mueller served as legal counsel to Stonepeak and EEP. Paul, Weiss, Rifkind, Wharton & Garrison LLP served as financing counsel to Stonepeak and EEP. About Stonepeak Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $73 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, with a focus on downside protection and strong risk-adjusted returns. Stonepeak, as sponsor of private equity and credit investment vehicles, provides capital, operational support, and committed partnership to grow investments in its target sectors, which include digital infrastructure, energy and energy transition, transport and logistics, and real estate. Stonepeak is headquartered in New York with offices in Houston, Washington, D.C., London, Hong Kong, Seoul, Singapore, Sydney, Tokyo, Abu Dhabi, and Riyadh. For more information, please visit About Energy Equation Partners Energy Equation Partners is an energy specialist investment firm that seeks to invest in companies that are well established in the energy sector and have the potential to play a valuable role in the shift from 'brown to green'. Over the past two decades, the principals of EEP have deployed over $10 billion of equity capital across the energy value chain globally and have significant experience in fuel retail.
Yahoo
15-05-2025
- Business
- Yahoo
Stonepeak and Energy Equation Partners to Acquire Majority Interest in JET from Phillips 66
LONDON & HOUSTON, May 15, 2025--(BUSINESS WIRE)--Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, and Energy Equation Partners ("EEP"), a newly formed investment firm with significant expertise in fuel retail, today announced an agreement to acquire a majority interest in JET Tankstellen Deutschland GmbH ("JET"), a leading fuel retailer in Germany and Austria, from a subsidiary of Phillips 66 (NYSE: PSX), in a transaction valuing the business at an enterprise value of approximately €2.5 billion. Phillips 66 will retain a 35% minority interest in JET as part of the transaction through a newly formed joint venture. JET is one of the largest fuel retailers in Germany and Austria, serving more than 700,000 customers daily with quality products at fair prices through a network of 970 service stations. Located primarily in urban and high-traffic areas, JET also operates convenience stores, car washes and a rapidly growing EV charging network. JET has been named Germany's most popular gas station brand by YouGov Deutschland for 15 years in a row. "We are pleased to partner with Phillips 66 and Stonepeak to build on the strong foundation of the JET platform," said Javed Ahmed, Managing Partner of Energy Equation Partners. "Together with the outstanding JET team and its dedicated service station operators, we aim to strengthen JET's leadership in both fuel and non-fuel retail across Germany and Austria. We are committed to supporting a seamless transition and continuing JET's legacy as a key player in the evolving retail energy sector." "JET's high-quality network of critical infrastructure assets is well positioned to continue reliably serving the needs of its customers over the long-term," said Anthony Borreca, Senior Managing Director and Co-Head of Energy at Stonepeak. "Under Phillips 66's ownership, JET has grown into one of the largest fuel retailers in Germany and Austria. We are excited to join forces with them, as well as Javed and the EEP team, who have long-standing experience investing in and operating retail fuel distribution and logistics globally, to support the next phase of JET's growth." The transaction is expected to close in the second half of 2025, subject to customary regulatory approvals. Akin Gump Strauss Hauer & Feld LLP and Hengeler Mueller served as legal counsel to Stonepeak and EEP. Paul, Weiss, Rifkind, Wharton & Garrison LLP served as financing counsel to Stonepeak and EEP. About Stonepeak Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $73 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, with a focus on downside protection and strong risk-adjusted returns. Stonepeak, as sponsor of private equity and credit investment vehicles, provides capital, operational support, and committed partnership to grow investments in its target sectors, which include digital infrastructure, energy and energy transition, transport and logistics, and real estate. Stonepeak is headquartered in New York with offices in Houston, Washington, D.C., London, Hong Kong, Seoul, Singapore, Sydney, Tokyo, Abu Dhabi, and Riyadh. For more information, please visit About Energy Equation Partners Energy Equation Partners is an energy specialist investment firm that seeks to invest in companies that are well established in the energy sector and have the potential to play a valuable role in the shift from "brown to green". Over the past two decades, the principals of EEP have deployed over $10 billion of equity capital across the energy value chain globally and have significant experience in fuel retail. View source version on Contacts For Stonepeak: Kate Beers / Maya Brounsteincorporatecomms@ +1 (646) 540-5225For Energy Equation Partners: Sari Haidarsari@ +44 75 5112 5113
Times of Oman
24-03-2025
- Health
- Times of Oman
Pakistan confirms 2nd mpox case in 2025
Karachi: Pakistan's Sindh Health Department has confirmed a monkeypox (mpox) case in Karachi, marking the first instance of the disease in the city, ARY News reported on Saturday. The patient, a 28-year-old male resident of Shah Latif Town, contracted the virus after his wife showed symptoms. The patient's wife has a travel history abroad. The man has been placed in an isolation ward to prevent the spread of harmful infections to others. Earlier on January 25, Pakistan reported its first case of viral disease Monkeypox, also known as mpox, in 2025, ARY News reported. The patient, who returned from Dubai on January 24, was identified through screening at the Peshawar airport, according to Pakistan Ministry of Health spokesperson. The patient has been taken to Services Hospital Peshawar for treatment. The latest case takes the total number of mpox cases in Pakistan to 10 since the health emergency was declared, as per ARY News. Pakistan's Ministry of Health has said that effective measures are being taken to protect the people from mpox. The travel history of the patient has disclosed connections to Gulf nations, sparking concerns regarding the virus's spread. Earlier, a passenger travelling from Sharjah showed symptoms of monkeypox during medical screening. According to airport sources, a passenger identified as Javed Ahmed, travelled from Sharjah, has tested positive for symptoms of monkeypox, ARY News reported. Ahmed, a resident of Rajanpur, was taken to isolation ward for precautionary measures. Medical authorities have said the case is alarming and are taking strict precautions. Monkeypox is a viral disease caused by the Mpox virus. Even though the natural reservoir of the virus remains unidentified, African rodents and non-human primates like monkey are suspected to harbor the virus and spread it to humans. The disease typically starts with a rash that appears 1 to 3 days following the onset of fever, starting on the face and then spreading to other parts of body. The rash progresses through several stages like vesicles, macules, papules, pustules, and scabs, according to ARY News report. Additional symptoms may include exhaustion, swollen lymph nodes, headache and exhaustion. The incubation period generally lasts from 7 to 14 days, however, it can vary between 5 and 21 days. The illness generally lasts between 2 and 4 weeks.
