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
ENEC announces completion of Unit 4 of Barakah Nuclear Energy Plant
The Federal Authority for Nuclear Regulation (FANR), the UAE's independent nuclear regulator, recently issued the Operating License for Unit 4...
Business
Business
Oil uncertainty may stay for next five years: ExxonMobil CEO
ExxonMobil has taken a 6.25 percent stake in the expansion of Qatar's North Field, which contains the world's biggest natural...
- Energy markets have been roiled by the Ukraine war as Russia has reduced some exports and faced sanctions.
- The CEO was speaking ahead of ExxonMobil's unveiling as the 4th global partner for Qatar's natural gas expansion.
Business
Lebanon inks gas deal with Egypt to enhance power supply
Lebanon's crumbling electricity sector has cost the country more than $40 billion since the end of its 1975-1990 civil war.
- Grappling with its worst-ever financial crisis, Lebanon launched talks with Egypt last year to import gas.
- Two years into Lebanon's economic meltdown, the state is struggling to purchase fuel for its power stations.
Economy
Leadership supports growth of UAE as global manufacturing hub: Minister
UAE's Minister of Industry Dr Al Jaber said at the 'Make it in the Emirates' Forum that the national industrial...
- The national industrial strategy will leverage the UAE's competitive advantages to build a strong industrial sector
- The strategy will help the country develop a diversified, self-sufficient and sustainable economy
Economy
UAE joins global clean energy partnership body
The partnership will enable access to a global hydrogen knowledge database and encourage cooperation with related initiatives and concerned entities.
- Joining the global initiative will support the UAE's long-term policies related to energy and hydrogen
- It will boost the UAE's stature as a leading contributor to the development of international policies related to hydrogen
Economy
China’s import of oil from Russia jumps 55% in May
The world's second-biggest economy imported around 8.42 million tons of oil from Russia last month.
- The world's second-biggest economy imported around 8.42 million tons of oil from Russia last month
- The number was also a spike from the 5.44 million tons China imported in May 2021
Economy
Inflation, subsidy reform hit stomachs in isolated Iran
Inflation is making an unwelcome comeback globally -- stoked by high energy and food prices, driven largely by Russia's invasion...
- Economic analyst Saeed Laylaz believes price growth in Iran has exceeded 40 percent annually since 2018
- In Tehran's marketplaces, attention is focused on the consequences and effects of inflation, rather than its causes
Geostrategy
Russia eyes improved ties with Saudi Arabia, UAE
Putin and Arab leaders focus on boosting relations in various fields -- including technology, food security and energy -- during...
- Russia President Vladimir Putin and several Arab leaders stress on the importance of strengthening relations
- Relations in various fields -- including technology, food security and energy -- remain in focus during SPIEF 2022
Business
Germany declares emergency steps to meet energy demand
Berlin has managed to reduce the share of its natural gas supplied by Russia from 55 percent before the invasion...
- The move comes after Moscow turned up the pressure on Western allies, sharply reducing flows of natural gas.
- Germany is among several European countries that are highly reliant upon Russian gas for their energy needs.
Economy
Sheikh Hamdan lauds success of Barakah Nuclear Plant
The UAE is continuing its move towards environmentally friendly energy sources to fulfill its international obligations regarding climate change and...
- The UAE is continuing its move towards environmentally friendly energy sources to fulfill its international obligations regarding climate change
- The country will achieve the objectives to diversify energy sources and its ambitious strategic initiative for climate neutrality by 2050
Business
Italy’s Eni joins giant Qatar gas project after Russian cuts
Eni will own a stake of just over three percent in the $28 billion North Field East project, the world's...
- The project's LNG -- the cooled form of gas that makes it easier to transport -- is expected to come on line in 2026.
- It will help Qatar increase its liquefied natural gas production by more than 60 percent by 2027.
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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
Company News
Latest News
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...
Geostrategy
Will extended oil production cuts stunt Saudi growth?
The decision to prolong oil output cuts may herald a significant reversal for the Kingdom's fast-growing economy as oil remain...
Economy
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Arts & Culture
Sweltering heat leaves Gulf residents at risk during noon
DUBAI, UAE- As much of the world swelters in record temperatures, spare a thought for Issam Genedi, who ekes out a...
- Apart from last week being identified as the hottest ever recorded worldwide, a wave of humidity has been suffocating the Gulf
- Two weeks ago, more than 1.8 million Muslims battled through a days-long hajj pilgrimage in Saudi Arabia in temperatures up to 48C (118F)
Business
DEWA given Net-Zero statement of verification for work on climate change
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has received the net-zero statement of verification and assurance certificate in...
- This followed a comprehensive assessment conducted by W3 Solutionz - US based on the International Workshop Agreement Guidelines IWA 42:2022.
- The Net Zero Guidelines were commissioned by Our 2050 World, a global collaboration to accelerate action towards net zero through standards.
Business
IDB inks pact with IRENA
IDB will fund renewable projects by joining ETAF platform.
- The IDB plans to co-finance renewable energy projects and energy transition technologies worth US$100 million in Latin America and the Caribbean.
- By leveraging its global reach and energy transition knowledge, IRENA is actively developing a pipeline of energy transition projects .