UAE announces reduction in fuel prices for January
ABU DHABI, UAE - The prices of petrol and diesel are set to decrease in the country in January following...
Business
ADDED, Siemens Energy to support sustainable industrial development in Emirate
ABU DHABI, UAE - Abu Dhabi Department of Economic Development (ADDED), represented by Industrial Development Bureau (IDB), and Siemens Energy...
Economy
Economy
Jordan imports 12.99mn barrels of crude oil in 2021
Jordan imported 11.8 million barrels of crude oil through the port of Aqaba, while a total of about 1.19 million...
- 1.19 mn barrels of Iraqi oil were imported since supply was launched in September 2021 until end of 2021
- Oil production from the Hamza oil field amounted to 105,000 barrels during 2021
Business
Tesla Model 3 joins Dubai corporation’s taxi fleet on trial basis
Tesla Model 3 has joined Dubai Taxi Corporation's fleet on trial basis, following the success of operating 172 Tesla vehicles...
- This follows the success of operating operating 172 Tesla vehicles in the limousine service since 2017.
- The trial operation aims to verify the efficiency of the vehicle when deployed in the taxi fleet in the emirate, Dubai’s Roads and Transport Authority (RTA) said.
Business
Russia warns G7 price cap on oil would increase its price
Moscow said Thursday that G7 plans to cap the price of Russian oil would lead to a shortfall on world...
- Leaders of the Group of Seven wealthy nations agreed at a summit this week to work on a price cap for Russian oil.
- West has already imposed multiple layers of sanctions on Russia in response to Putin's order to send troops to Ukraine.
Geostrategy
Nuke deal revival still possible despite fruitless Qatar talks: Iran
The talks aim to bring the United States back into a 2015 deal jettisoned by the Donald Trump administration in...
- US said the EU-brokered proximity talks in the Qatari capital Doha had concluded late Wednesday with "no progress made".
- Iranian Foreign Minister Hossein Amir-Abdollahian said he believed the talks had been "positive" and a deal could still be reached.
Science
Metaverse can contribute $4bn to UAE economy
The Dubai Metaverse Strategy anticipates that 42,000 jobs will be virtualized through the metaverse by 2030 while also improving resident...
- The Dubai Metaverse Strategy, which was recently announced, aims to raise the metaverse sector's contribution to the UAE's economy to $4b by 2030
- Dubai companies like Emirates, Damac and others are already betting big on this world, and many more are expected to join the pack
Geostrategy
UAE presents national report on spent nuclear fuel to IAEA
The United Arab Emirates has presented its Fourth National Report on spent nuclear fuel, radioactive waste management at the International...
- The national report describes the legislative and regulatory measures taken by the UAE to meet its obligations
- The report also addresses options in regards to spent fuel and radioactive waste management
Economy
Gulf boosts oil production amid global fuel crisis
Saudi oil giant Aramco has built new refineries in Jazan to boost its production capacity to 400,000 barrels a day...
- Saudi oil giant Aramco has built new refineries in Jazan to boost its production capacity to 400,000 barrels a day
- Kuwait Oil Corporation is enlarging the capacity of Al-Zour refinery to 615,000 barrels a day, making it the world's largest facility to do so
Economy
Algeria jails Bouteflika-era energy minister for 20 years
An Algerian appeals court on Tuesday upheld a 20-year prison sentence for corruption against Chakib Khelil, energy minister for a...
- Khelil, now 82, quit his post in 2010 and moved to the US after being associated with a scandal involving high-ranking Sonatrach officials who were later jailed
- He returned to Algeria in 2016 after the cases were dropped - then left again after Bouteflika's resignation in 2019 that sparked investigations into graft by his officials
Business
Saudi Arabia and Italy to explore investment opportunities
Saudi Arabia’s Ministry of Investment will host a high-level Italian business delegation on Monday to explore mutually beneficial investment opportunities....
- An Italian delegation led by Italian Minister for Foreign Affairs Luigi Di Maio will visit the kingdom.
- Private sector representatives from multiple organizations from both countries will participate in the forum.
Geostrategy
Iran says indirect nuke deal talks with US to resume this week
Talks to revive the nuclear deal began in Vienna in April last year but hit a snag in March this...
- The negotiations will be separate from broader talks in Vienna between Iran and major powers that are mediated by the EU.
- The nuclear deal has been hanging by a thread since 2018, when then US president Donald Trump unilaterally withdrew from it.
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UAE announces reduction in fuel prices for January
ABU DHABI, UAE - The prices of petrol and diesel are set to decrease in the country in January following...
Business
Company News
Latest News
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...
Business
Most Read
Business
DSCE gets ISO 50001, net-zero certifications for sustainable energy management
DUBAI, UAE - The Dubai Supreme Council of Energy (DSCE) has received the ISO 50001:2018 in energy management systems and...
- This followed a comprehensive assessment conducted by W3 Solutionz - USA through CanaGulf International Standardization.
- The audit process conducted by CanaGulf International Standardization was based on several guiding principles.
Economy
Prices for utilities, fuels rise 9 percent in June in Saudi Arabia
RIYADH, SAUDI ARABIA – Prices for housing, water, electricity, gas and other fuels in the Kingdom rose by 9.1 percent...
- Restaurant and hotel prices went up by 4.3 percent and education up by 3 percent.
- Clothing, shoe prices fell 2.9 percent, communication costs were down by 0.7 percent.
Geostrategy
UAE, India pledge for success of Dubai’s COP28 event
The UAE and India vowed to make this year's COP28 conference in Dubai a success, as Indian Prime Minister Narendra...
- "The UAE and India are united in their determination to ensure the successful outcome of COP28 as an inclusive and action-oriented conference," said a statement.
- The leaders of both the countries said they were "committed to enhance cooperation on climate ambition, decarbonization and clean energy".