Qatar to ramp up gas output with new mega field expansion
At the start of this month, Qatar said it would supply 7.5 million tonnes of LNG per year for 20 years...Business Energy
UAE stock markets post gains of $2.26 billion on Friday
Dubai General Index (DFMGI) advanced 0.007 percent to 3,462.890 pts as blue-chip developer Emaar properties continued to hike, closing higher...Realty and banking blue chips accounted for the lion's share of transactions that amounted to more than 14,700 worth around $454 Million over 353.7 million shares
Emirates NBD, Dubai Islamic Bank, and TECOM increased 1.84 percent, 0.84 percent and 0.41 percent respectively
Digital transformation in Gulf region not agile enough
It's crucial to identify the right working model to fix the challenges of digital transitions in the GCC, Nick Curran,...It's crucial to identify the right working model to fix the challenges of digital transitions in the GCC, Nick Curran, Business Development Manager at Endava, tells TRENDS
This model should be based on an agile delivery method, reliable data and analytics skills, a strong alignment between product and technology functions, Curran adds
Agreement signed to implement Abu Dhabi Agri Genome Program
The Abu Dhabi Agriculture and Food Safety Authority (ADAFSA) signed a collaboration agreement with the Khalifa Centre for Genetic Engineering...The program aims at applying the best international practices related to agricultural genetic research.
It aims to develop local spices of plant, animal and fish, to improve agricultural production and address the emirate's climatic and environmental challenges.
Weeklong real estate deals worth $2.3 billion recorded in Dubai
Dubai recorded a total of 2,739 transactions with a combined value of AED8.4 billion ($2.3 billion) during the week ending...The transactions included the sale of 274 plots for AED1.36 billion and 1,902 apartments and villas for AED4.35 billion.
The biggest deal recorded was the sale of a plot of land in Business Bay for AED110 million, followed by a piece of land in Wadi Al Safa 2 that went for AED38.75 million.
Stocks slump after Fed chair vows tough inflation fight
Stock slumped on Friday after Federal Reserve boss Jerome Powell pledged to act "forcefully" against soaring inflation in a battle...Modest signs of slowing in the world's largest economy, easing price pressures spurred hope in financial markets the central bank might ease up on its interest rate hikes.
Powell made it clear that Fed policy and the benchmark borrowing rate would have to remain "sufficiently restrictive" to return inflation to its two percent target.
DEWA organizes virtual seminar, 90 Turkish firms participate
Dubai Electricity and Water Authority (DEWA) has organized a virtual seminar with 90 leading Turkish companies in the energy and...DEWA has a clear strategy and specific goals to increase the share of clean and renewable energy in Dubai’s energy mix
The company has launched pioneering projects and initiatives to diversify clean energy sources
Christie’s to auction Paul Allen’s $1bn art collection
The November sale of more than 150 pieces spanning 500 years of art will be "the largest and most exceptional...Christie's said all proceeds will go to charitable causes, as per the wishes of Allen, who was an avid art collector, innovator and philanthropist.
The auction record for a private collection was set this spring by the US couple Harry and Linda Macklowe, with $922 million fetched in auctions conducted by Sotheby's.
German govt to relook huge gas levy amid outrage
German ministers vowed to reexamine a planned gas surcharge imposed on consumers after it emerged that some energy companies seeking...The levy, to be imposed from October 1, had been grudgingly accepted as a compromise to help prevent the energy market from collapsing.
The levy sparked outrage after it emerged that some energy firms which have doubled their revenues in H1 2022, have registered to receive a share.
South Korea wins $2.2bn order in Egypt’s first nuclear plant
The Korea Hydro & Nuclear Power Co. won a contract with Russia’s state-owned Rosatom in the project. The state-owned Korean...El Dabaa plant, with a capacity of 4,800 MW, is Egypt’s first nuclear plant and would be constructed at an estimated cost of $28.75 billion.
The contract stipulates that Rosatom will not only build the plant, but will also supply Russian nuclear fuel for its entire life cycle.
Turkey plays down US sanctions threat over Russia ties
Turkey's finance minister told businesses on Friday they should not be concerned by the threat of sanctions that Washington warns...The value of Ankara's trade with Moscow shot up by nearly 50 percent between May and July this year as NATO member Turkey has refused to join the international sanctions.
US Deputy Secretary of the Treasury had warned Turkish banks and companies they would face secondary sanctions if they cooperated with sanctioned Russians.
