Several nations eager to join Charter of Cooperation, says OPEC Secretary-General
ABU DHABI, UAE - Secretary-General of the Organization of Petroleum Exporting Countries Haitham Al Ghais said that OPEC is in...Business Energy Geostrategy Global
Riyadh Season opens registration for SEVEN Concours 2024 global car auction
Riyadh, Saudi Arabia - The Riyadh Season has announced the commencement of registration for the SEVEN Concours 2024 exhibition, the...Business
ILO says global crises will lead to a fall in labor market
The war raging in Ukraine and other overlapping crises are taking a toll on labor markets worldwide, the UN said,...In a fresh report, the International Labor Organization cautioned that the outlook for global labor markets has deteriorated in recent months.
It also warned that excessive policy tightening could cause "undue damage to jobs and incomes in both advanced and developing countries."
Major Saudi Arabian cities witness strong demand for residential, office real estate
Saudi government policies like 15 percent VAT exemption on real estate deals and affordable housing programs are boosting residential real...Rents and prices for residential real estate in Riyadh and other major cities such as Jeddah is growing, according to JLL.
The Saudi real estate market is expected to register a CAGR of more than 9.74 percent during 2022 - 2027, according to Mordor Intelligence.
Saudi Arabia, UAE say global investments required for oil production
Saudi Arabia and the United Arab Emirates said the world needs to keep investing in oil production, just days before...Sultan Al Jaber, the head of UAE oil giant ADNOC, warned that under-investment could cause a shock to the world economy
Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman said the Gulf countries were both increasing production capacity.
UAE, Kyrgyz Presidents review bilateral relations
ABU DHABI, UAE - President Sheikh Mohamed bin Zayed Al Nahyan Monday received President of the Kyrgyz Republic Sadyr Japarov,...UAE and Kyrgyzstan affirmed their common interest in enhancing bilateral relations.
The meeting explored various opportunities of the UAE- Kyrgyz friendship and affirmed to further cooperation in economy, trade.
DEWA adds 600MW of clean energy production capacity
DUBAI, UAE - MD and CEO of Dubai Electricity and Water Authority Saeed Mohammed Al Tayer said DEWA had added...Mohammed bin Rashid Al Maktoum Solar Park will have a production capacity of 5,000 megawatts (MW) by 2030.
The fifth phase is currently underway, with a total capacity of 900MW and investments estimated at $560 million.
Banque Saudi Fransi net profit up 15%
The bank’s profit for the nine-month period peaked at $719m.The hike in profit was driven by boost in total operating income, partially offset by an increase in total operating expenses by 20.18 percent.
The bank said the increase in total operating income was driven by higher net special commission income, exchange income, net as well as other operating income.
Nedaa, Nokia ink 5G deal in Dubai
5G network will help Nedaa provide better services.With the introduction of 5G, Nedaa will be able to support enhanced services for public safety and management of vital operations.
The MoU sets a framework for upgrading the existing network capabilities and introducing agile and advanced services.
ADNOC sets Upstream Methane Intensity target of 0.15 percent by 2025
Abu Dhabi, UAE--- Abu Dhabi National Oil Company (ADNOC) announced on Monday that it has set a new Upstream Methane...ADNOC’s 0.15 percent methane intensity target means ADNOC will be ranked in the Gold Standard category by the Oil and Gas Methane Partnership 2.0 (OGMP 2.0.
Oil and Gas Methane Partnership 2.0 (OGMP 2.0 is a a multi-stakeholder initiative launched by the United Nations Environment Program (UNEP) and the Climate and Clean Air Coalition.
Europe’s gas storage reserves now at over 90 percent
With prices falling and ports clogged with liquefied natural gas tankers, fears of a winter heating crisis in Europe have...Spanish gas regulator Enagas says the backlog at ports is expected to last at least until this week.
Europe has made efforts to fill its storage facilities to reduce dependence on Russian gas and sought alternative suppliers.
Saudi Arabia’s GDP grows by 8.6 percent in third quarter of 2022
As per estimates by the General Authority for Statistics (GASTAT), real Gross Domestic Product (GDP) of Saudi Arabia grew by...The seasonally adjusted real GDP increased by 2.6 percent in the third quarter 2022 compared to the second quarter this year.
Non-oil activities grew by 5.6 percent and government services activities by 2.4 percent on a year-on-year basis.
