Global football stars choose Red Sea destination for holiday
TABUK, SAUDI ARABIA – A few days ago, the Red Sea destination hosted several international football stars from Saudi Pro...
Business
Geostrategy
German Chancellor in Saudi Arabia on energy hunt
German Chancellor Olaf Scholz arrived in Saudi Arabia at the start of a two-day Gulf tour, in the hope of...
- Germany wants to extend cooperation on new technologies such as green hydrogen produced using renewable energy.
- Germany hopes to agree new energy partnerships with the oil-and gas-rich Gulf states, with the loss of supplies from Russia in the wake of the invasion of Ukraine.
Business
TotalEnergies, Qatar ink pact
TotalEnergies to invest $1.5bn in natural gas production.
- Qatar Energy and TotalEnergies as partners will together work for the development of the North Field South gas project.
- TotalEnergies will have 9.3 percent of the North Field South project, Qatar Energy Minister said, for which 25 percent will be reserved for foreign energy firms.
Economy
‘More efforts needed for net zero carbon emissions by 2050’
More efforts are required to make the world reach net zero emissions by mid-century, according to the International Energy Agency's...
- Recent technology developments and policy actions suggest momentum is accelerating in some important regions and sectors to achieve net zero by 2050.
- Initial estimates point to 2022 being a record year for renewable electricity capacity additions, with an increase of about 340 gigawatts.
Economy
Dubai emerges as a driving force for a green economy
Dubai is consolidating its position as a pioneer in transitioning to a green economy to support the efforts of the...
- Dubai had launched an in-depth study that showed how the Emirate can achieve carbon neutrality (net zero emissions) by 2050.
- The Dubai Net Zero Carbon Emissions Strategy 2050 aim to provide 100 percent energy from clean energy sources by 2050.
Business
Algeria’s export of natural gas to Italy to soar 20% in 2022
Last April, Italy entered into an agreement with Algeria to increase imports through the Trans-Med pipeline.
- Data from Italy’s gas network reveals that the country has bought 20.9 bcm of natural gas from Algeria in 2021
- Since Russia invaded Ukraine, several European countries are looking for alternative energy suppliers
Business
Salik IPO oversubscribed
The company raised $1.017 billion in IPO on the DFM.
- In comparison to the previously announced 1.5 billion shares, equivalent to 20 percent, the government has sold more than 1.86 billion shares of the company or 24.9 percent
- The Dubai government retains 75.1 percent of Salik’s existing share capital, which will be listed on the Dubai stock exchange on Sept. 29 under “SALIK"
Business
UAE starts third unit of Barakah Nuclear Energy Plant
UAE has successfully started Unit 3 of the Barakah Nuclear Energy Plant, located in Abu Dhabi's Al Dhafra Region, its...
- The launch has been achieved a year after the start-up of Unit 2, with the next key milestone being the connection of Unit 3 to the national electricity grid in the coming weeks
- Once operational, Unit 3 will add another 1,400 MW of zero-carbon emission electricity capacity to the national grid
Economy
Arab youth prefer UAE over home country to live, work
Key attractions in the UAE include economy, secure environment, rewarding salary packages, a wide range of job opportunities, and the...
- The top five attractions in the UAE are growing economy, secure environment, rewarding salary packages, a wide range of job opportunities, and the wise leadership, says a survey
- Young Arabs living in the country agree that the UAE is the ideal place for them to live and work, citing its benefits, diversity of opportunities, and flexibility in the laws
Economy
French TV to show ‘power map’ to avoid winter black outs
France's national broadcaster said Friday it would begin broadcasting a "power map" to viewers, showing demand for electricity around the...
- Under a deal signed with the main operator of the country's power grid, France Televisions will begin showing a real-time map called Ecowatt on its channels.
- During periods of worryingly high demand -- which will be coloured in red -- viewers will be encouraged to reduce their power consumption or avoid drawing on the grid at peak hours
Economy
Dubai records realty transactions worth US$1.8bn in week
A total of 2,401 real estate transactions worth US$1.8 billion (AED6.7 billion) were conducted during the week ending September 23,...
- A total of 243 plots were sold for $351 million (AED1.29 billion) in Dubai.
- A total of 1,659 apartments and villas were purchased for $955 million (AED3.51 billion).
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Global football stars choose Red Sea destination for holiday
TABUK, SAUDI ARABIA – A few days ago, the Red Sea destination hosted several international football stars from Saudi Pro...
Business
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UAE exhorts UNESCO members to join COP28 ‘climate efforts’
Paris, France-- The UAE has made a fervent appeal to members of the United Nations Educational, Scientific and Cultural Organization...
Economy
Saudi delegation takes part in Riyadh Expo 2030 symposium in Paris
PARIS, FRANCE - A high-level Saudi delegation attended the Riyadh Expo 2030 Symposium, on the outskirts here, hosted by the...
Business
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Business
Saudi Arabia, South Africa sign protocol for import of cattle, sheep and goat meat
Riyadh, Saudi Arabia--The Saudi Food and Drug Authority (SFDA) and South Africa’s Department of Agriculture, Land Reform and Rural Development...
- The two sides signed the protocol on the sidelines of the Saudi-Arab-African Economic Conference held in Riyadh
- It looks to accredit the regulatory body in South Africa by the SFDA to export cattle, sheep and goat meat to the kingdom
Business
Dubai witnesses green transit revolution
Dubai is actively implementing climate adaptation strategies and technologies in transportation and infrastructure to mitigate climate change effects and enhance...
- By the end of the decade, the emirate aims to have 10% of public buses run on hydrogen or electric powered, ramping up to 20% by 2035, 40% by 2040, 80% by 2045
- According to Sandalkhan, of BCG, Dubai aims to set a global standard in eco-friendly transportation and RTA's 2050 Zero-Emissions plan reflects that ambition
Business
Saudi EXIM Bank signs deals with African banks and institutions worth $185m
Riyadh, Saudi Arabia - Saudi EXIM Bank has signed multiple agreements and memoranda of understanding (MoUs) with African banks and...
- Saad Al-Khalb, the CEO of the Saudi EXIM Bank, signed Line of Credit agreements worth $185 million to finance Saudi exports of goods and services
- The agreements aim to support African economies, enhance trade and economic exchange between Saudi Arabia and African countries