Dubai approves rise in energy, water efficiency programs
DUBAI, UAE – Chairman of the Dubai Supreme Council of Energy Sheikh Ahmed bin Saeed Al Maktoum chaired the 81st...
Geostrategy
Middle East leads way in global methane mitigation
The Middle East is emerging as an important region in the battle against methane emissions, crucial for curbing global warming....
Economy
Geostrategy
Russia on nuclear alert as Ukraine fiercely resists invasion
President Vladimir Putin ordered on Sunday Russia's nuclear forces onto high alert in response to what he called ‘unfriendly’ steps...
- Russia invaded on Thursday and quickly announced it had neutralized key Ukrainian military facilities, but fierce fighting has since raged
- Ukraine forces, backed by Western arms, are stymieing the advance of Russian troops, while the US leads Western condemnation and sanctions
Economy
WTI surges 6%, Brent 5% on Ukraine invasion by Russia
WTI rose 6.27 percent to $97.33, while Brent crude was up 5.24 percent at $103.06.
- Traders will closely watch an OPEC+ meeting this week, led by Russia, where they will discuss plans for further output
- The group has agreed previously to increase production gradually each month, but the Ukraine crisis could disrupt it
Business
UAE, Egypt sign reinsurance pact to bolster trade, economic cooperation
The agreement between the two state-owned firms will bolster the strong trade and economic cooperation, in addition to boosting export...
- The agreement between the two state-owned firms will bolster the strong trade and economic cooperation, in addition to boosting export relations
- The broad range of trade credit insurance amongst these two entities will mitigate risks they might encounter due to various political and commercial reasons
Economy
Riyadh confirms commitment to ‘OPEC Plus’ deal with Russia
Saudi Arabia confirmed its commitment to the OPEC+ agreement with Russia Sunday, the Saudi Press Agency reported, as Moscow faces...
- Members of the OPEC+ oil producers' group will meet Wednesday to discuss loosening the taps -- just days after Russia's invasion of Ukraine sent crude soaring past $100 a barrel
- The 13 members of OPEC proper will be joined by their 10 allies in the OPEC+ group at the teleconference meeting
Business
Dubai Maritime City launches $38m infrastructure project
Dubai Maritime City (DMC), DP World’s purpose-built maritime hub, announced the launch of a major project worth AED140 million ($38.1...
- The project is part of ongoing efforts to boost Dubai’s economy and enhance the efficiency of the logistics sector
- It includes developing networks for deep sewage, stormwater, fire, irrigation, potable water
Business
Aramco discovers four natural gas fields in Saudi Arabia
The exploration of natural gas will further enhance Saudi's status as the premium exporter of energy sources.
- The four major areas are in the Central Region, the Empty Quarter, the Northern Border Region and the Eastern Region.
- The four fields where the natural gas has been found are named as are Shadun, Shehab, Um Khanasser and Samna.
Economy
Tunisia allots $10.4m to ‘social and solidarity economy’
Tunisia has devoted a budget of 30 MD ($10.4m) to the social and solidarity economy for the next three years.
- Minister of Employment and Vocational Training Nasreddine Nsibi said this during a seminar
- The Minister stressed that the social and solidarity economy will allow the creation of new jobs
Economy
World Bank to support Iraq higher education with $5m
The World Bank (WB) announced that it would support the higher education sector in Iraq with an amount of $5...
- The project of World Bank will support the Ministry of Higher Education and Scientific Research in Iraq
- World Bank will also help to develop centers of excellence in sectors of agriculture and renewable energy
Economy
UAE non-oil foreign trade grows by 27 percent in 2021 to $517 billion
The government said the non-oil foreign trade figures of all emirates also witnessed growth individually in varying levels. The growth...
- The value of national non-oil exports amounted to about AED 354 billion, setting a new record, exceeding AED 300 billion for the first time in its history.
- China ranked first as the country's largest trading partner in 2021, accounting for 11.7 percent of the UAE's total foreign trade with the world.
Arts & Culture
Forward-looking UAE museum looks into the future
The Museum of the Future along Dubai's main highway has been touted as the 'world's most beautiful building'.
- Its organizers have said the visitors will be taken “on a journey of the year 2071”.
- Many believe the Museum of the Future is UAE’s one more attempt to boost its soft power as a trading and tourism hub and to diversify its economy away from oil.
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Dubai approves rise in energy, water efficiency programs
DUBAI, UAE – Chairman of the Dubai Supreme Council of Energy Sheikh Ahmed bin Saeed Al Maktoum chaired the 81st...
Geostrategy
Company News
Latest News
UAE launches National Program for Infrastructure Development – Salamah 365
DUBAI, UAE – UAE Minister of Energy and Infrastructure Suhail bin Mohammed Al Mazrouei launched the National Program for Infrastructure...
Geostrategy
Oil majors still profitable even if 2022 super profits gone
From BP to ExxonMobil to TotalEnergies, none of the oil and gas majors have repeated the exceptional profits posted in...
Business
Most Read
Economy
Jordan sees surge of investments to US$844.8m in first half of 2023
Amman, Jordan--Jordan’s economy has seen a 47.6 percent increase in investments in the first half of 2023, according to data...
- According to data, Jordan's aggregate investments amounted to $844.8 million in the first six months of the year, up from $571 million
- The results come close on the heels of the government's initiative to set up a plan to lure new funding streams and boost current ones
Business
Inma Holding profit tumbles
Its net profit fell 53.8% in H1 of 2023 to US$0.92m.
- Its earnings per share(EPS) declined to reach QR 0.059 as of 30th June 2023 versus EPS QR 0.128 for the same period in 2023
- The company posted a 61.7% jump in net profit in 2022, reaching $2.69 million in comparison to a net profit of $1.67 million
Economy
UAE’s real estate market remains strong in the first half of 2023: CBRE
Dubai, UAE--The UAE's real estate market has recorded a strong performance across all sectors in the first half of the...
- According to the CBRE report, the sector has benefitted from an expansion in the country's non-oil economy
- The report added that industrial and logistics sector has seen relatively strong levels of activity during the period