ENEC and General Atomics to collaborate on use of technology for nuclear energy
Abu Dhabi, UAE--The Emirates Nuclear Energy Corporation (ENEC) today announced that it has signed a Memorandum of Understanding (MoU) with...
Science
GCC and EU hold talks to boost economic, political ties
Brussels, Belgium-- The Gulf Cooperation Council (GCC) and the European Union have held talks in Brussels in order to enhance...
Geostrategy
Economy
Iran and Russia diplomats hold discussions on BRICS
Tehran, Iran--Senior Iranian and Russian diplomats held talks in Tehran to discuss the BRICS group and its fields of activities...
- The Iranian sides reiterated the Islamic republic's commitment to playing an "effective and constructive role in it" and resolved to participate in all activities in the grouping
- The Russian delegation enumerated the country's priorities in regard to BRICS during their presidency and presented a briefing on the history and background of the group's actions
Business
Sharjah Civil Aviation Department and WFP sign aviation-safety agreement
Sharjah, UAE--The Sharjah Civil Aviation Department (SCAD) and the United Nations' World Food Programme (WFP) have signed an agreement to...
- The WFP's Regional Aviation Safety Office will hold training sessions, seminars, conferences, and special projects, in order to benefit both parties
- The Sharjah Civil Aviation Department will send qualified lecturers and trainers to conferences, workshops, and other events hosted by the WFP
Business
LNG trade to grow 25% to 500m tons in 5 years: IEF
According to a report "Fragile Equilibrium: LNG Trade Dynamics and Market Risks" China has surged ahead of Japan to become...
- LNG's share of gas demand in Europe rose from 12 percent a decade ago to more than 50 percent
- Faced with the sudden loss of pipeline gas, Europe turned to LNG to fill the void, sending prices up
Business
Dubai Airports expect to cross pre-pandemic passenger numbers in 2023
Dubai, UAE--Dubai Airports is expecting annual passenger traffic at Dubai International (DXB) to touch 86.8 million – surpassing 2019 traffic,...
- It forecasts annual passenger traffic at Dubai International (DXB) to touch 86.8 million, crossing 2019 traffic, propelled by strong growth
- Some 23m passengers passed through the airport in Q3, taking the total traffic for the first nine months of the year to 64.5m passengers
Business
Iran to link up electricity grid with Russia via Azerbaijan
Tehran, Iran-- Iran is linking up its electricity grids with Russia via Azerbaijan in order to make up for its...
- The Iranian minister said feasibility studies for connecting power grids have been conducted through three routes including Georgia, Azerbaijan, and Turkmenistan
- He said the use of electricity in Iran’s industrial sector has exceeded that of the household sector for the first time in the history of the country’s power industry
Business
AD Ports net profit up
It posted a 189% jump in revenue in Q3 to US$1.15bn.
- Its EBITDA rose by 28% YoY to $207 million during the third quarter, largely supported by the acquisition of Noatum and Karachi Gateway Terminal
- The company said that the negative net operating cash flows of $158 million were impacted by a temporary deterioration in working capital
Business
Google warns against downloading its AI model from external sources
Washington, US--Google has warned users against trying to obtain its Cold generative artificial intelligence (AI) model from external sources currently...
- According to Google the download delivers malware to victims, stealing sensitive data and starts from a user's social media accounts
- The company is working on Bard tools to integrate them into many of the different services it provides from search engine to Pixel phones
Economy
UAE non-oil activities to continue to see robust growth in 2024: OPEC
Vienna, Austria--The UAE's non-oil economic activities continued to see robust performance and are expected to extend healthy development into 2024,...
- Its monthly report for November noted that it anticipates the upward trend in non-oil activities to continue supporting further growth for the next year
- The report said the country's tourism sector, accounting for nearly 16% of its GDP, showed strong growth, with 8.5 million visitors coming to the UAE, a 19% jump
Business
Jet fuel sales to reach over billion gallons by end of 2023: ENOC
Dubai, UAE--ENOC Group will reach more than one billion gallons of jet fuel sales at the end of this year...
- The company in line with its long-term strategy intends to supply Sustainable Aviation Fuel (SAF) to Dubai Airports in 2024
- The company plans to enhance sales volume globally, apart from seeking potential acquisitions, partnerships, and greenfield projects
Economy
Egypt annual core inflation falls 1.6 percent in October
Dubai, UAE--Egypt's annual core inflation rate decelerated by 1.6 percent in October, recording 38.1 percent, down from 39.7 percent in...
- According to the country's central bank, the annual headline urban consumer inflation rate reached 35.8% in October, down from 38% in September
- Last week, the government also announced increases in petrol prices of up to 14.3% amid higher global prices and a weakened exchange rate
ENEC and General Atomics to collaborate on use of technology for nuclear energy
Abu Dhabi, UAE--The Emirates Nuclear Energy Corporation (ENEC) today announced that it has signed a Memorandum of Understanding (MoU) with...
Science
Company News
ADNOC Drilling to expand fleet
Business
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China maintains basic balance in international payments in 2023
Beijing, China--China maintained a basic balance in its international payments last year, with its current account surplus amounting to US$264.2...
Economy
Qatar real-estate trading volume in January stands at US$521m
Doha, Qatar--The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at the Ministry...
Business
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Economy
Saudi holdings of US Treasuries surge to $131.9b in December 2023
ABU DHABI, UAE - Saudi Arabia’s holdings of US Treasuries reached US$131.9 billion in December 2023, up $3.8 billion month-on-month,...
- The Kingdom maintained 16th place among the largest holders of US treasury securities for December.
- Saudi Arabia’s holdings of US Treasuries were distributed among long-term and short-term bonds.
Business
Saudi Arabia aims to build ties with Canada in scientific and research fields
Riyadh, Saudi Arabia-- Saudi Arabia is exploring investment opportunities in education and aiming to attract investments to the kingdom from...
- The Saudi education minister explored investment opportunities in education, besides seeking to foster scientific and research collaboration between the two countries
- The visit of the Saudi delegation also looked to consolidate the partnerships between the kingdom's ministry of education and Canadian universities and colleges.
Geostrategy
GCC and Sweden look to ramp up cooperation in ‘several areas’
Munich, Germany-- The Gulf Cooperation Council (GCC) and Sweden have discussed ways to ramp up cooperation in several areas, besides...
- The talks between the two leaders took place on the sidelines of the 60th Munich Security Conference in Munich
- The two discussed cooperation mechanism between the GCC and Sweden on a bilateral level, and with the EU too