COP28 draft agreement includes option to do nothing on fossil fuels
The fate of oil, gas and coal is the thorniest issue being thrashed out at the COP28 UN climate talks...
COP28 UAE
Business
$44.92m EDB, FAB loan for Lamprell
The facility is in line with EDB's strategy to support large corporates.
- The bespoke credit facility additionally benefited from the comprehensive trade credit solutions provided by Etihad Credit Insurance (ECI).
- The facility will be utilized to support Lamprell in delivering two new build jack-up rigs for IMI which are currently under construction.
Recyclers try to conquer mountains of waste in Tunisia
Tunisian authorities are scrambling to find new sites as most of the country's 11 official dumping grounds will close by...
- Tunisia produces 2.6 million tones of waste each year, 85 percent of which ends up in landfills, while the rest goes into informal dumps
- National waste management agency of Tunisia recently admitted that it lacks resources to control the situation
Business
Moro Hub breaks ground for largest solar data center in region
The center will offer digital products and services using Fourth Industrial Revolution technologies, such as cloud services, the Internet of...
- The data center will be implemented by Moro Hub, a subsidiary of Digital DEWA, the digital arm of DEWA
- The carbon-neutral green data center will use 100% renewable energy with a capacity exceeding 100 megawatts
Geostrategy
OPEC Fund announces $352m for global development operations
The OPEC Fund for International Development has approved $352 million for sustainable development operations globally at the organization’s 178th Session...
- Members of the Governing Board also reviewed several milestones achieved as part of the OPEC Fund Strategic Framework 2030, including inaugural credit ratings.
- The Strategic Framework 2030 is designed to diversify the OPEC Fund’s financial resources and deliver greater development impact
Geostrategy
Emirates and IAEA discuss nuclear program, Expo’s role in fostering ties
Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, met with Rafael Mariano Grossi, Director-General of...
- The two sides reviewed the role of Expo 2020 Dubai in promoting international cooperation and building effective and fruitful partnerships
- The IAEA Director-General highlighted the importance of the constructive cooperation between the UAE and the International Atomic Energy Agency
Economy
Dubai reduces carbon emissions by 33 percent in 2020
Dubai reduced its carbon emissions by 33 percent in 2020, which is more than double the target of the Dubai...
- The reduction in emissions is more than double the target of the Dubai Carbon Abatement Strategy 2021.
- The share of clean and renewable energy capacity is now 11.38 percent of Dubai’s energy mix.
Business
UAE launch trials of autonomous taxis
The UAE last month approved a temporary license to test self driving taxis on the roads with safety officer sitting...
- Bayanat started the trial of two electric and two hybrid taxis under the name TXAI
- Dubai will launch 4,000 self driving taxis by 2030
Business
Iraq to increase oil production, says minister
The oil production in Majnoon Oil field will be increased to 450,000 barrels per day, said the Oil Minister of...
- He inaugurated the two buildings of Majnoon Oil Field Production and Development Authority
- Majnoon field contributes to provide good quantities of gas fuel for the uses of operating electricity power plants
Business
Syria to host the Arab Energy Conference in 2024
The meeting of the Council of Ministers of the Organization of Arab Petroleum Exporting Countries (OAPEC), was held on Thursday...
- The meeting of the Council of Ministers of the Organization of Arab Petroleum Exporting Countries (OAPEC), was held on Thursday via video
- The ministers agreed that Syria would head the Council of Ministers of OAPEC as of January 2022 until January 2023
Business
Masdar, Taaleri SolarWind II Fund launch wind farms in Poland
"This event marks a key milestone in Poland’s renewable energy journey and demonstrates Masdar’s commitment to the nation’s climate action...
- In January, both companies announced they had each acquired a 50% stake in the projects, marking their first investment in the Polish renewable energy market
- The projects produce enough electricity to supply approximately 90,000 households in Poland, and offset 146,000 tonnes of carbon dioxide each year
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
COP28 draft agreement includes option to do nothing on fossil fuels
The fate of oil, gas and coal is the thorniest issue being thrashed out at the COP28 UN climate talks...
COP28 UAE
Company News
Latest News
Gulf oil giants turn to start-ups in bid to promote carbon capture
With little investment and few projects in operation around the world so far, the technology to capture carbon before it...
Business
UAE to implement support scheme for low-income farm owners
DUBAI, UAE - The Ministry of Community Development and Etihad Water & Electricity have announced the implementation mechanism of the...
Geostrategy
UAE discusses clean energy partnerships with Germany, Netherlands
ABU DHABI, UAE - A senior UAE official of the Ministry of Energy and Infrastructure (MoEI) visited Germany and the...
Geostrategy
Most Read
Business
Masdar on way to become one of world’s largest renewable energy firms
ABU DHABI, UAE - Abu Dhabi Future Energy Company (Masdar) has announced that it has nearly doubled its clean energy...
- Masdar announced that it has nearly doubled its clean energy capacity and CO2 displacement in just two years.
- Masdar has invested, or has committed to invest, in projects globally with a combined value of more than US$30 billion.
Interview
MENA region takes significant strides towards renewable energy, says Prince Albert II of Monaco
The Monaco prince commends the Saudi Green Initiative, Middle East Green Initiative and the upcoming COP in Dubai as "remarkable...
- Prince Albert recognizes the remarkable environmental initiatives undertaken by the MENA region and offers his support and willingness to contribute to these efforts
- Stressing on global collaboration, Prince Albert II emphasizes that the fight against climate change and the preservation of biodiversity cannot be won by isolated efforts
Business
Russian oil exports hit post-invasion high, says IEA
PARIS, FRANCE - Russia's oil exports rose in April to the highest level since its invasion of Ukraine, boosting revenues by...
- The Paris-based organization said Russian exports increased by 50,000 barrels per day to 8.3 million bpd in April.
- Russia's tax receipts from its oil and gas sector were down by 64 percent year-on-year, the agency added.