Apple’s Vision Pro headset available in US on February 2
WASHINGTON, US - Apple on Monday said it will release its highly anticipated Vision Pro mixed reality headset in the United...
Business
5 WEF reports shaping your 2024 agenda
From AI to the future of jobs and slow climb to gender parity, WEF reports provide insights into some of...
Geostrategy
Economy
Euro strikes parity with Dollar for first time in nearly 20 years
The euro struck parity with the dollar Tuesday for the first time in nearly 20 years as a cut in...
- Oil prices meanwhile fell heavily on concerns of a wider recession as central banks hike interest rates to fight decades-high inflation.
- European stock markets fell approaching the half-way mark and in the wake of overnight losses in Asia and on Wall Street.
Economy
Dubai to host World Corporate Summit in November
Dubai will host the first edition of the World Corporate Summit which will discuss sports and multi-sectoral business growth as...
- The summit will be attended by decision-makers from multinational corporations, UAE-based firms and government institutions
- The WCS will exchange insights, explore collaborative partnerships and opportunities for business growth
Geostrategy
Iran reports new technical advances at nuclear plant: IAEA
The UN watchdog's director-general Rafael Mariano Grossi said the changes at the plant under mountains south of the Iranian capital...
- IAEA said Tehran had started "feeding... a cascade of... centrifuges" at the Fordow fuel enrichment plant which has recently been upgraded.
- In January 2021, Iran said it was working to enrich uranium to 20 percent at Fordow, well beyond the 3.67 percent agreed under the 2015 deal.
Business
TotalEnergies of France pulls out of Russian oil project
Russian oil firm Zarubezhneft will take over its remaining 20 percent stake in the Kharyaga project in the Arctic pending...
- It has promised to stop purchasing Russian oil and gas by the end of the year, and make no further investments there
- TotalEnergies had already ceded a 20 percent stake in the project and the role of operator to Zarubezhneft
Business
Fuel prices drive demand for hybrid vehicles in UAE
While some buyers are opting for smaller compact SUVs and electric vehicles, others are putting their purchase decisions on hold...
- UAE fuel prices jumped around 75 percent since January 2022. Super 98 petrol price increased to Dh4.63 ($1.26) per liter in July 2022 compared to Dh2.65 per liter in Jan 2022.
- Rising petrol prices in the UAE are pushing small businesses and private individuals to switch from vehicle ownership to rentals.
Business
Emerge, Miral to install solar energy at Abu Dhabi theme park
Emerge and Miral signed an agreement to deploy on-site solar energy systems at the SeaWorld Abu Dhabi theme park on...
- The project will have a capacity of 8.2 megawatts (MW) with rooftop solar photovoltaic (PV) systems installed at the theme park.
- Emerge will provide a full solution including design, procurement, and construction, as well as operation and maintenance services.
Economy
Sri Lanka appeals Russia for fuel and resumption of tourist flights
Sri Lanka is facing its worst economic downturn since it gained independence from Britain in 1948.
- The Island nation has suffered months of blackouts, rampant inflation and critical shortages of food and petrol.
- Russia and Ukraine were among the top sources of tourists for Sri Lanka before February's conflict began.
Business
IEA says gas use to shrink due to high prices, Russian cuts
Gas consumption will contract slightly this year due to high prices and Russian cuts to Europe, with only slow growth...
- The IEA said additional green energy transition measures would ease pressure on gas prices globally
- European nations are importing more LNG shipped by tanker, which the IEA said is creating supply tensions
Economy
Dubai Supreme Council moots monitoring panel for petroleum trading
Dubai Supreme Council of Energy on Monday discussed establishing a permanent committee to monitor petroleum product trading in Dubai and...
- At its 71st meeting, the Council said that in 2021, savings were equivalent to 6.4 terawatts of electricity, approximately 12.5 percent of business as usual.
- Since 2011, demand-side programs have contributed to avoiding 14.1 million tons of carbon dioxide emissions, saving nearly AED9 billion.
Economy
Bezos flays US President for call to lower gasoline prices
Amazon founder Jeff Bezos has criticized President Joe Biden for calling on oil companies to lower sky-high gasoline prices, prompting...
- Soaring gasoline prices in US are sapping Biden's approval rating ahead of legislative elections
- White House Press Secretary said on Sunday that oil prices have dropped about $15 a barrel over the past month
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Apple’s Vision Pro headset available in US on February 2
WASHINGTON, US - Apple on Monday said it will release its highly anticipated Vision Pro mixed reality headset in the United...
Business
Company News
Latest News
Kuwait posts fiscal surplus after almost a decade, says finance ministry
Kuwait recorded its first surplus in nine years for the 2022-2023 fiscal year which ended in March, the finance ministry...
Economy
G20 nations fall short of common plan on fossil fuels
NEW DELHI, INDIA - Energy ministers from the group of 20 nations meeting in India on Saturday failed to agree...
Geostrategy
UAE emissions plan ‘insufficient’, say climate groups
PARIS, FRANCE - New carbon-cutting plans by this year's UN climate talks host the UAE were branded "insufficient" by an analysis...
Science
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Science
UAE and Egypt to boost cooperation in higher education, scientific research
Cairo, Egypt-- The UAE and Egypt are looking to ramp up cooperation in the fields of higher education and scientific...
- The Egyptian minister noted the depth of the ties across all levels between the two countries, especially in scientific, cultural and educational fields
- The UAE official applauded the relations between the UAE and Egypt, noting the latter's role in the education field and stressing UAE's resolve to deepen ties
Business
Governments should provide incentives for green finance, says Dubai Chambers’ webinar
DUBAI, UAE – Participants at a webinar strongly supported governments providing incentives or regulatory frameworks to encourage greater participation in...
- The webinar was organized by Dubai Chamber of Commerce, one of the three chambers operating under Dubai Chambers.
- The webinar provided valuable insights and guidance aimed at helping companies to access green finance, attract green investment projects.
Business
OQGN inks $1.2bn financing deal
Deal will provide firm access to capital in dual currencies.
- OQGN is the exclusive operator of the natural gas transportation network in Oman.
- This is considered one of the largest syndicates of Sharia-compliant financing in Oman.