ITFC looks to ramp up green financing to 30% of its portfolio
Dubai, UAE-- The International Islamic Trade Finance Corporation (ITFC) is looking to ramp up its sustainable and green financing to...
COP28 UAE
Russian oil price cap partially successful
LONDON, UK - A Western price cap imposed a year ago on Russia's oil has had limited success with Moscow increasingly...
Geostrategy
Economy
DEWA inaugurated 16 new power substations costing $797m in 2021
Dubai Electricity and Water Authority (DEWA) has inaugurated 16 new substations in 2021 at the cost of about AED2.928 billion...
- DEWA installed 222 kilometers of 400kV overhead transmission lines and 97 kilometers of 132 kV ground cables to connect the substations to the main transmission network.
- DEWA’s investments in existing and completed electricity transmission projects in 2021 reached AED9.5 billion.
Business
World needs smarter policies for carbon transition to succeed: Crescent Petroleum
Carbon transition policy must be tailored to each country’s needs and dynamics, Majid Jafar, the CEO of Crescent Petroleum, said.
- Carbon transition policy must be tailored to each country’s needs and dynamics, Majid Jafar, the CEO of Crescent Petroleum, said
- Crescent Petroleum became one of the first companies in the industry to achieve carbon neutrality across its operations in 2021
Business
Israeli firm develops body cams with facial recognition
Tirza, a former Israeli army colonel, says his company Yozmot Ltd aims to produce a body-worn camera enabling police to...
- Tirza, a former Israeli army colonel, says his company Yozmot Ltd aims to produce a body-worn camera enabling police to scan crowds and detect suspects in real time
- Facial recognition in law enforcement has sparked global criticism, with US tech giants backing away from providing the technology to police, citing privacy risks
Science
Iraq Forum for Clean Energy 2022 kicks off on Sunday
The ministry of oil endeavors to support all initiatives and efforts to gradually shift from traditional to clean and renewable...
- The companies include South Gas, Basra Gas, Shell and Siemens Energy, Schlumberger, Baker Hughes
- The forum will be used for discussing the programs for developing the renewable energy sectors in Iraq
Economy
Qatar signs agreement to ensure gas supply to Gaza power plant
In late December, the Qatari committee had signed an MoU with the Energy and Natural Resources Authority and the Gaza...
- In late December, the Qatari committee had signed an MoU with the Energy and Natural Resources Authority and the Gaza Electricity Generation Company
- Under the MoU, the Qatari committee will finance the construction of the gas pipeline from the supplier company to the borders of the Gaza Strip at a cost of USD60 million
Economy
EU nations debate whether nuclear, natural gas energy ‘sustainable’
Hours before the window for lodging objections closed, EU environment and energy ministers meeting in France on Friday differed sharply...
- The controversy pits countries led by France against Germany, Austria, and others in the EU
- Nuclear power is carbon-free, while gas is significantly less polluting than coal
Business
‘World first’ hydrogen shipment set to leave Australia for Japan
A state-of-the-art liquid hydrogen tanker readied for loading in Australia Friday ahead of shipment to Japan, in what Canberra described...
- The Suiso Frontier is docked near Melbourne and is being loaded with super-cooled hydrogen, a source of fuel that supporters hope could one day rival LNG.
- Hydrogen produces only steam and no carbon dioxide when burnt, making it an attractive possible alternative to dirtier fossil fuels.
Economy
Jordan to supply Lebanon with electricity: Energy minister
Under the agreement, Lebanon will be provided with about 150 megawatts of electricity from midnight to 6 am, and 250...
- Under the agreement, Lebanon will be provided with about 150 megawatts of electricity from midnight to 6 am, and 250 megawatts during the remaining hours
- The project will benefit the Jordanian electrical system as Lebanon will be supplied directly from the Kingdom's power transmission networks
Science
Sharjah University, AUS to launch research for sustainable energy solutions
The Sharjah Research, Technology, and Innovation Park (SRTI Park) revealed an ambitious plan to be executed in cooperation with the...
- A proposed solution is to convert the generated hydrogen into fuels and chemicals for easier transportation.
- AUS scientists are researching the production and use of various hydrogen-carrying molecules in industry.
Economy
Solar power costs in US decreased 80% since 2009: DOE
The US Department of Energy put forward the observation in the third edition of the Solar Power in Your Community...
- The price has dropped from a little less than $0.30 per unit in 2009 to around $0.04, according to a chart shared by the DOE
- Federal incentives have spurred dramatic increases in solar deployment, according to the new report
Most Read
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
ITFC looks to ramp up green financing to 30% of its portfolio
Dubai, UAE-- The International Islamic Trade Finance Corporation (ITFC) is looking to ramp up its sustainable and green financing to...
COP28 UAE
Company News
Centrica 2022 profit US$4bn Â
Business
DEWA, ENOC sign MoU
Business
Latest News
World needs tangible climate solutions: Al Mubarak
More than 1,000 private sector executives and members of the Dubai Chamber had joined the path towards reducing global emissions...
Economy
Sharjah’s Waste-to-Energy Project promotes renewable energy
SHARJAH, UAE - The Sharjah Waste-to-Energy Project, the first of its kind in the Middle East, has strengthened its efforts...
Business
Dubai launches strategy to achieve zero emissions in public transport
This aligns with UAE's preparations for COP28 and the UAE Net Zero by 2050 Strategic Initiative, and is a part...
Business
Most Read
Economy
Iraq warned to end oil addiction in order to avoid ‘intensive care’
Iraq looks to have renewable energies cover a third of its electricity needs by 2030 and has signed several contracts...
- Baghdad will "diversify the economy" in the next 10 years, said Muzhar Saleh, economic adviser to Iraq's prime minister
- To initiate reforms needed to achieve "green growth", the World Bank estimates Iraq must spend $233 billion, spread out until 2040
Business
Masdar city to review benefits, challenges of EVs in three day summit
ABU DHABI, UAE - Two of Masdar's spokespeople will address key issues, challenges, and opportunities in electric vehicle innovation during...
- The three-day summit is scheduled to take place at the Abu Dhabi National Exhibition Center from May 29-31.
- Lukas Sokol, Masdar City’s head of master planning, will shed light on the city’s work in introducing electric, autonomous vehicles.
Economy
Investment in solar power to overtake oil first time this year: IEA
The International Energy Agency (IEA) said that while the increasing investment in solar power is a welcome development. but investment...
- Annual investment in clean energy is expected to have risen by 24 percent from 2021 to more than $1.7 trillion in 2023, according to the International Energy Agency
- The IEA expects investment in solar power, essentially photovoltaic panels, to hit $380 billion this year while investment in oil exploration and extraction to hit $370 billion