DEWA 2023 net profit $2.15bn
The system demand for power surged to 56.5 TWh in 2023.Company News Business
UAE-China non-oil trade exceeds $470bn in past decade
Abu Dhabi, UAE - The non-oil trade between the UAE and China increased by 78.5 percent from 2012 to 2021,...The trade increased by 78.5 percent from 2012 to 2021 to $60.85 billion by the end of 2021 compared to $34 billion in 2012.
FCSC also showed that the non-oil trade exchange between the two in the first half of 2022 totaled AED118.4 billion $32.24 billion.
Sharjah Chamber organizes forum, briefs Russian delegation
The Sharjah Chamber of Commerce and Industry (SCCI) has organized a forum to discuss ways to boost economic ties and...The forum witnessed bilateral meetings between business owners from Sharjah and Russia.
The chamber briefed the Russian trade mission on Sharjah’s business advantages and facilities.
Mawani, Tabadul to develop port community management systems
Riyadh, Saudi Arabia---Saudi Ports Authority (Mawani) and the Saudi Information Exchange Company (Tabadul) signed an MoU to develop new port...The MoU aims to achieve the expansion of services provided in Saudi ports and doubling their number from 46 to 150 besides.
It also aims at enabling modern and emerging technologies in accordance with international best practices.
Qatar goes into top gear to ready luxury hotels, flats
As the countdown to the start of the World Cug gets underway, Qatar has accelerated efforts to ready luxury hotels...The wealthiest will pay thousands of dollars a night for rooms with marble wine cellars and a lobby with one of the world's biggest chandeliers
Some Qatari landlords are trying to cash in on the World Cup, demanding $4,000-plus a night for Doha apartments
RWE of Germany signs US$6.8bn US clean energy deal
RWE is one of Germany's main energy providers, with production historically linked to coal, which placed it among the country's...RWE said the transaction almost doubles the company's renewables portfolio in the United States and, once completed, will make it the number 4 renewable energy company
Con Edison's clean energy division is a leading operator and developer of renewable energy plants in the United State with about three gigawatts (GW) of operating capacity
Saudi stocks shine, while UAE’s post losses
GCC markets had a mixed week as Saudi stocks powered by the banking and commodities retail sectors posted gains, while...The banking and commodities retail sectors, Saudi equities finished the week's trading higher, increasing the general index by 2.11 percent and adding 235 points
The UAE equities on DFM declined by two percent, and the Abu Dhabi index dropped by 0.7 percent
Saudi healthcare needs $35bn as population rises
The kingdom will need an investment of $35.6bn for nearly 20,000 new hospital beds by 2030, according to Colliers. High...The cost of land in Riyadh has almost doubled in the last two to three years, according to Mansoor Ahmed, Colliers Executive Director Middle East & Africa.
REIT funds in the kingdom can unlock around $59 - $63.4 billion property value, playing a key role in growth in the healthcare sector.
‘Nord Stream 2 pipeline has stopped leaking gas’
The Nord Stream 2 pipeline is no longer leaking under the Baltic Sea because an equilibrium has been reached between...While the pipelines are not currently in operation, they both still contained gas before they fell victim to apparent sabotage, producing four leaks.
All the leaks are in the Baltic Sea off the Danish island of Bornholm.
Russia suspends gas supply to Italy due to transport issues
SOFIA, BULGARIA - Russia's Gazprom has suspended gas deliveries to Italy's Eni, blaming a transport problem in Austria, the Italian...Most of Russian gas delivered to Italy passes via Ukraine through Trans Austria Gas Pipeline (TAG), to Tarvisio in northern Italy
Before the war in Ukraine, Italy imported 95 percent of the gas it consumes -- about 45 percent of which came from Russia.
EU decides to cut power use, levy energy firms
The EU executive believes it can raise €140 billion from the levies on non-gas electricity producers and on energy majors...European households and businesses are already staggering under surging energy bills, fueling record inflation that in the eurozone has hit 10 percent
The EU ministers’ agreement came a day after Germany announced a $195 billion energy aid package to shield its consumers
