No peak oil demand ‘on the horizon’, phaseout a ‘fantasy’: OPEC
Paris, France - OPEC said Tuesday that phasing out oil was a "fantasy", as the Saudi-led cartel forecast that demand would...Business
Countries where the X social network is banned and why
Paris, France - With its ban of X, which went into effect on Saturday, Brazil joins a small club of countries...Business
Global assets in spot bitcoin ETFs hit US$4.16 billion
Dubai, UAE--Global assets invested in exchange-traded funds (ETFs) tied to the spot price of bitcoin now total US$4.16 billion, showed...Around half of that sum, or $2 billion, is invested in the seven spot bitcoin ETFs that have been launched in Canada since 2021
Regulators in the United States are currently considering as many as 10 applications to launch similar spot-based ETFs in the U.S
UAE charges ahead in global electric vehicle readiness
The Gulf country's ascent to the top of regional EV preparedness rankings and seventh position globally marks a significant stride...The Gulf country's ascent to the top of regional EV preparedness rankings and seventh position globally marks a significant stride towards its 2050 carbon neutrality goals.
With EV Green Charger initiative expanding the charging network and 82% of residents considering EVs for next vehicle, the nation is driving forward sustainable transportation.
Don’t pause Mideast de-escalation over war, says UAE official
Dubai, UAE - Middle East powers should maintain their push to de-escalate the region through trade and economic ties despite the...According to UAE presidential adviser Anwar Gargash, countries should maintain that strategy even though the war is sending shockwaves through the region.
"National actors are basically trying to use economics as a way to de-escalate tension," Gargash told the World Policy Conference in Abu Dhabi,
QatarEnergy inks second 27-year gas supply deal with China’s Sinopec
DOHA, QATAR - Qatar has agreed to supply Sinopec with natural gas for 27 years, the Gulf emirate's state-owned energy company said...Doha will supply three million tonnes of gas a year to Sinopec under the deal.
Asian countries led by China, Japan and South Korea are the main market for Qatar's gas.
Global energy meet discusses way forward to net-zero emissions
VIENNA, AUSTRIA – High-level representatives from the member states of the United Nations Industrial Development Organization (UNIDO), international organizations, experts...The two-day forum showcased innovative technologies and transformative solutions to accelerate low-emission, climate-resilient development.
The international event aimed to foster new partnerships to scale up investments and technology transfer to developing countries.
PureHealth partners with Dell to use AI in disease detection, data analysis
Abu Dhabi, UAE--PureHealth has joined hands with Dell Technologies to utilise generative artificial intelligence (AI) across healthcare services including in...The cooperation will take advantage of the collective resources and technologies of both companies to improve health outcomes by ensuring access to medical solutions
The global AI healthcare market was valued at $11 billion in 2021 and is projected to expand to have a market size of $187 billion market size by 2030
Conflict points to economic shift in Arab-Israel ties
Bahrain's expulsion of Israel's ambassador and halted trade may foreshadow a broader economic realignment in the Middle East, threatening key...Bahrain's expulsion of Israel's ambassador and halted trade may foreshadow a broader economic realignment in the Middle East, threatening key regional trade pacts.
Israel's strategic gas deals and burgeoning trade with Arab nations, including a potential UAE free trade deal, will be affected if the Gaza conflict escalates further.
Saudi Arabian ministry issues 174 industrial licenses
RIYADH, SAUDI ARABIA – The Kingdom’s Ministry of Industry and Mineral Resources announced issuing 174 new industrial licenses in September,...The total value of the 174 new industrial licenses in September is US$1.4 billion (SAR 5.3 billion).
A total of 82 factories started production in September, with investments worth US$506 million.
Empower 9M revenue $618m
Firm paid cash dividend of US$115 million.For nine months period ending on September 30, 2023, Empower’s revenue and EBITDA grew by 9.5 percent and 7.5 percent respectively.
On an absolute basis, Empower reported a net profit of US$186 million (AED 685 million) for the nine-month period ending September 2023.
BMW Q3 profit drops 7.7%
The company's Q3 net profit stood at $3.1 billion.Revenues for the third quarter meanwhile rose 3.4 percent to 38.46 billion euros compared to the same period last year.
BMW chairman Oliver Zipse said the result "puts us right on track to meet the higher targets we set ourselves in August".
