People-positive approach needed in clean power transition: WEF paper
Dubai, UAE -- Building massive infrastructure for clean power projects in pursuit of climate goals will need nearly $4.5 trillion in...
Business
ADNOC-Tabreed G2COOl opens
G2COOL is the first geothermal energy cooling plant in the Gulf region.
Business
Business
ADNOC Distribution to go for 25 percent cut in carbon intensity by 2030
ABU DHABI, UAE - ADNOC Distribution on Friday announced plans to reduce its carbon intensity by 25 percent by 2030....
- This reduction in carbon intensity will be implemented by putting sustainability at the core of its day-to-day operations to future-proof its business.
- The company said it will install solar panels to power service stations and use biofuels in its fleet of vehicles.
Business
TAQA acquires stake in Taweelah
TAQA took up the operation and maintenance of the plant.
- As part of a transaction valued at US$65 million (approx. AED239 million), TAQA has completed its acquisition from BTU Power Company.
- TAQA acquired an additional 10 percent ownership stake in the owner of the Taweelah B IWPP – Taweelah Asia Power Company.
Business
TAZIZ, PROMAN sign pact
They will build UAE’s first world-scale methanol production facility.
- The facility has an anticipated annual capacity of up to 1.8 million tons.
- The facility has an anticipated annual capacity of up to 1.8 million tons. Methanol has a variety of uses including in fuels, solvents, pharmaceuticals and construction materials.
Business
Saudi approves Implementing Regulations of New Companies Law
Riyadh, Saudi Arabia--Saudi Arabia's Capital Market Authority's has approved the Implementing Regulations of the New Companies Law for listed joint...
- The approval is based on the authority the Law granted to the CMA to regulate the matters and subjects stipulated in the law related to joint stock companies.
- It also included stipulating the provisions that aim to raise the level of governance of the board of listed joint stock companies.
Arts & Culture
Saudi herders use ‘special language’ to train camel
The mode of communication, known as Alheda'a, was inscribed last month on UNESCO's list of intangible cultural heritage.
- A skilled camel herder can use his voice alone to soothe an animal, make it kneel and even signal a change in direction as they trudge together through desert sands, said UNESCO.
- Alheda'a can be deployed for a range of tasks: bringing together a scattered herd threatened by a coming sandstorm, for example, or soothing camels as they drink water.
Business
ADNOC, TAQA mobility JV
They will build and operate electric vehicle infrastructure in Abu Dhabi.
- The partnership will include a network of fast chargers at key locations, featuring associated solutions such as parking and tolling services.
- Demand for EVs in the UAE market is projected to see a compound annual growth rate of 30 percent between 2022 and 2028.
Geostrategy
UN chief calls for urgent actions as world faces Category 5 storm
Davos-Klosters, Switzerland – UN Secretary-General Antonio Guterres, in a wide-ranging address that touched on the most critical issues facing the...
- On climate change, he called on world leaders to put forward credible and transparent transition plans to achieve net-zero emissions.
- He also said a “morally bankrupt financial system” is amplifying systemic inequalities.
Interview
A true leader embraces meritocracy, shuns nepotism, says Vision 3 head Khalid Abdulla-Janahi
Khaled Abdulla-Janahi , an international Arab thought leader, feels strongly about changing the traditional perception encompassing the concept of leadership.
- Khaled Abdulla-Janahi , an international Arab thought leader, feels strongly about changing the traditional perception encompassing the concept of leadership
- Before the book was done, Khalid said, he worked and collaborated closely with a few people to look into leadership attributes.
Economy
CEOs back unlocking Africa free trade area’s $3.4 trillion potential
Davos-Klosters, Switzerland-- African heads of state and global CEOs at the World Economic Forum Annual Meeting backed the launch of...
- The AfCFTA is the largest free trade area in the world, by area and number of participating countries.
- Conceived in 2018, it now has 54 national economies in Africa, could attract billions in foreign investment.
Business
Geopolitical instability may lead to catastrophic cyberattack: Report
Over 93 percent of cybersecurity experts and 86 percent of business leaders believe “a far-reaching, catastrophic cyber event is likely...
- The Global Cybersecurity Outlook 2023 findings were based on surveys, workshops and interviews with over 300 experts and C-suite executives.
- Half of the companies surveyed said the current landscape is making them re-evaluate the countries in which their organization does business.
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
People-positive approach needed in clean power transition: WEF paper
Dubai, UAE -- Building massive infrastructure for clean power projects in pursuit of climate goals will need nearly $4.5 trillion in...
Business
Company News
Vietnam’s VNG files for US IPO
Business
Latest News
Agriculture deals worth $471m inked at China-Arab States Expo
Beijing, China -- A total of 34 deals worth approximately AED1.73 billion ($471 million) were signed at the conference on...
Geostrategy
Saudi Arabia’s natural reserve makes it to UNESCO heritage list
Riyadh, Saudi Arabia -- The Uruq Bani Ma'arid Reserve in Saudi Arabia has been inscribed on the UNESCO World Heritage...
Arts & Culture
Most Read
Economy
GCC countries hold interest rates following US Fed decision
Abu Dhabi, UAE -- In the wake of the US Federal Reserve's decision to maintain its interest rates, GCC countries,...
- The US Federal Reserve, on Wednesday, voted to keep interest rates at a 22-year peak, suggesting that these rates might need to persist at these highs to tame inflation.
- The CBUAE will continue to set the rate for short-term liquidity borrowing at 50 basis points above the Base Rate.
Business
Sharjah Chamber to host two-day Gulf-Iraq Business event
SHARJAH, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) said it is likely to host the first Gulf-Iraq...
- The theme of the event is “Partnership for a Promising Economic Future”, and is expected to present multiple investment opportunities.
- The Chamber hopes the event starts new wave of economic, trade, and industrial relations between the GCC countries and Iraq.
Business
stc’s acquisition of Telefonica stake okayed
Spain's Securities Market Regulatory Authority cleared the deal.
- Morgan Stanley, which advises on the deal from the buyer's side, accumulated a little less than 3 percent of Telefonica’s capital during an unspecified period of time.
- Media reports said that stc announced recently it acquired a 9.9 percent stake in Telefonica for SAR 8.5 billion (2.1 billion euros).