ExxonMobil expects global oil demand near current levels in 2050
New York, United States - Global oil demand is unlikely to fall by 2050 despite progress on renewable energy, the US...Business
Boeing suspends 777X flight tests after part failure, its latest quality control issue
New York, United States - Boeing has suspended flight testing of its new 777X wide-body jet after identifying the failure of...Business
UAE emerges as crypto powerhouse amid global shifts
Last year, 67% of UAE's crypto transactions were institutional, valued over $1 million, with decentralized exchanges constituting 48%, outpacing centralized...Last year, 67% of UAE's crypto transactions were institutional, valued over $1 million, with decentralized exchanges constituting 48%, outpacing centralized ones, says a report
Between July 2022 and June 2023, the MENA region registered $389.8 billion in on-chain value, with Saudi Arabia experiencing a 12% annual crypto transaction growth
Inflation, war and high rates to decelerate trade in 2023, says WTO
Geneva, Switzerland - Global trade growth will be sharply lower than forecast this year as stubborn inflation, high interest rates and...The volume of world merchandise trade is now expected to grow by 0.8 percent this year, "less than half the 1.7 percent increase forecasted in April", the WTO said.
"The exact causes of the slowdown are not clear, but inflation, high interest rates, US dollar appreciation, and geopolitical tensions are all contributing elements," it said.
Tadawul’s sukuk, bonds market sees $3.4bn negotiated deals in first 9 months of 2023
RIYADH, SAUDI ARABIA – The Saudi Exchange's (Tadawul) sukuk and bonds market witnessed 74 negotiated deals worth nearly SAR 12.77...March recorded the highest number and value of deals, as 18 transactions were executed at a value of $853 million
KSA Sukuk 2021-06-10 topped the list in the first nine months of 2023 with US$821 million.
West responsible for Ukraine war, Russia wants ‘New World’ says Putin
Moscow, Russia - President Vladimir Putin said Thursday that Russia's mission was to create a "new world" and blamed Western hegemony...Putin has portrayed Russia's full-scale military intervention in Ukraine -- launched in February 2022 -- as part of a long-standing confrontation with the West
Putin said the conflict in Ukraine was "not a territorial" one and that Moscow has "no interests from the point of view of conquering some territories"
X removes headlines from news articles shared by users
The changes brought a good deal of criticism, journalist Tom Warren of The Verge website posting on X: "It's the...Elon Musk said the change was for "aesthetic" reasons -- news and other links now appear only as pictures with no accompanying text
When the changes to links were first mooted in August, Musk posted: "This is coming from me directly. Will greatly improve the esthetics."
Vietnam plans to auction rights to its largest rare earth mine
Hanoi, Vietnam - Vietnam plans to auction the rights to exploit its largest rare earth mine, a project partner said Thursday,...A tender for the mining of the Dong Pao mine, in northern Lai Chau province, is being planned by Australian mining company Blackstone Minerals.
"Any party that succeeds in the auction will be able to exploit the mine and we will use the ore from this mine for production," a Vietnamese official said.
EWEC, Masdar sign purchase pact
Power to be purchased generated from UAE's Wind Programme.This strategic agreement will see EWEC procuring power from the UAE's utility-scale wind programme for the first time.
Located at Sila, Sir Bani Yas Island and Delma Island, the wind power farms have a generation capacity of up to 99 megawatts.
ADNOC to deploy UAE-made drones
ADNOC's partnership with EDGE Group aimed at cutting emissions.EDGE’s autonomous systems arm, ADASI, will repurpose its existing UAVs for ADNOC to deploy in its operations, to minimize emissions and enhance environmental performance.
ADNOC has allocated an initial $15 billion (AED55 billion) to lower-carbon solutions, new energies and decarbonization technologies.
Qatar, Iran discuss cooperation in free zones, investment
DOHA, QATAR - Minister of State and Chairman of the Board of Directors of the Free Zones Authority Ahmad bin...The Qatari minister and the Advisor to the Iranian President discussed reinforcing cooperation between the two countries.
The Iranian leader and accompanying delegation toured the Free Zones at Ras Bufontas and Umm Alhoul Free Zone.
ADNOC awards two contracts for Hail and Ghasha Offshore Development project
ABU DHABI, UAE – ADNOC on Thursday announced the final investment decision (FID) and award of contracts for the Hail...The first contract for the offshore facilities has been awarded to a joint venture between National Petroleum Construction Company and Saipem.
The second contract will deliver the onshore scope, including carbon dioxide and sulphur recovery and handling and has been awarded to Tecnimont.
