MENA region can create 10m jobs by 2050 via climate action, says ILO
DUBAI, UAE - International Labor Organization (ILO) Deputy Regional Director for the Arab States Peter Rademaker has confirmed that the...
COP28 UAE
Energy security key driver of climate investments
World Economic Forum
Economy
Brent crude price jumps above $80 a barrel
With the rollout of vaccines and easing of lockdowns this year, bets on demand for the black gold have surged,...
- Brent climbed 0.9 percent in morning Asian trade to $80.24, its highest level since October 2018.
- The advance comes even as the global economic recovery shows signs of slowing owing to supply chain issues
Infographics
Banks rule GCC in market capitalization
Banking firms in the Arabian Gulf countries dominate the list of top companies in terms of market capitalization with Saudi...
- Al Rajhi Bank's market capitalization stands at $80.65 billion
- In energy sector, Saudi Aramco is much ahead of others with $1.86 trillion
Geostrategy
Cutting fossil fuel use key to environmental protection: IMF
The 'right prices' must fully reflect both supply costs and environmental costs, especially carbon emissions and local air pollution, said...
- Global fossil fuel subsidies amount to around $6 trillion in 2020, which is 6.8 percent of global GDP.
- Emissions would fall by one-third if prices increase to fully reflect environmental and supply costs by 2025, IMF said.
Science
Japan sees Middle East as vital in creating hydrogen-based society
Kajiyama Hiroshi, the economy, trade and Industry minister of Japan, said that Middle Eastern countries are important partners in creating...
- 'The large-scale and inexpensive hydrogen supply is indispensable'
- Hydrogen and ammonia are attracting attention as new energy sources
Economy
Sudan protesters block crucial oil pipelines
Demonstrators blocked the entrance to the airport and a bridge linking Kassala State in the east with the rest of...
- Demonstrators blocked the entrance to the airport and a bridge linking Kassala State in the east with the rest of the country
- The unrest comes as Sudan grapples with deep economic woes left in the wake of Bashir's ouster
Analysis
2022 World Cup may help Qatar sustain growth
The projects initiated as part of hosting the tournament include the construction of eight stadiums, Doha Metro Rail, a new...
- Stadiums constructed for the world cup would be later given to local clubs for utilization
- QTA announced new tourism strategy which aims to attract 5.6 million visitors to Qatar annually by 2023
Business
23 solar panel plants to come up across Saudi Arabia
DUBAI: As many as 23 factories that will manufacture solar panels and systems will be set up across Saudi Arabia,...
- The factories will be established in 12 industrial cities, according to Modon.
- Products to be manufactured include Solar cells, slim panels for generating solar energy, solar energy panels.
Business
UAE to become major player in emerging blue hydrogen market: ADNOC CEO
The United Arab Emirates will become a major player in emerging blue hydrogen market, according to the CEO of the...
- The UAE is strengthening its position as a regional leader in natural gas and the emerging blue hydrogen market
- "Today, gas provides almost one-quarter of the world’s energy supply and will continue to play a critical role in the global energy system"
Business
SNOC to meet Sharjah’s gas needs amid rising power demand
Gas will be sourced from SNOC's own resources and ADNOC imports.
- In 2019 SNOC and ADNOC signed an interim contract to close the gas supply gap with SEWA.
- Sharjah has also begun to develop its own resources of gas.
Business
Kuwait starts 100,000 bpd oil-gathering center
Kuwait is one of five countries that negotiated a higher baseline for its quota in a July 18 OPEC+ meeting.
- A gathering center is a facility that collects oil from a field to be transferred usually by pipelines
- This gathering center is formally referred to as GC-31 and is located in in northern Kuwait
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
Company News
RIL posts Q3 profit of US$1.9b
Business
Carbon pricing standards key to boost green energy
World Economic Forum
Latest News
Energy security key driver of climate investments
World Economic Forum
Global energy firms must pay up to prevent spill: Yemen company
To prevent a damaging oil spill in the Red Sea, the UN Development Programme in March took the unprecedented step...
Iran seizes oil tanker in Strait of Hormuz, says US Navy
Iranian forces seized a Panama-flagged oil tanker in the Strait of Hormuz, the US Navy said, the second such incident...
Geostrategy
BP back in Q1 profit
In Q1 2022, BP posted its biggest loss ever at $20.4bn.
Most Read
Business
AD Ports Group purchases bulk carriers, crude oil tankers
ABU DHABI, UAE - AD Ports Group has announced plans to expand its fleet by purchasing five bulk carriers and...
- These vessel acquisitions will follow the recently signed agreements as part of the Group’s strategic global expansion objectives.
- The five bulk carriers, to be purchased for AED459 million, form part of the long-term agreement with Saif Powertec, signed in April 2022.
Business
Arabian Travel Market unveils Monday in Dubai
DUBAI, UAE - The 30th edition of Arabian Travel Market (ATM) will open Monday at Dubai World Trade Center (DWTC),...
- The event, on May 1-4, will see global travel, tourism, and hospitality experts discuss how their industry is ‘Working Towards Net Zero’.
- Exhibitor participation in the event has risen by 27 percent compared to last year’s event, with growth registered across all show sectors.
Business
DEWA keen to enhance happiness in work environment, says CEO
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) affirmed its commitment to achieve the 'We the UAE 2031' vision...
- "We harness all capabilities, technologies and digital solutions to strengthen the skills of our employees," DEWA CEO said.
- "We consider employees the main pillar for strengthening DEWA’s position as one of the most prominent utilities in the world," he said.