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
134 nations to put food, agriculture in national climate plans
"This declaration is the moment when food truly comes of age in the climate process, sending a powerful signal to...
COP28 UAE
Economy
Saudi Arabia set to build two 600MW solar plants
The plants will be built on land plots with a total area of 12 million sq m in Jeddah and...
- The projects will be handled through the Saudi Authority for Industrial Cities and Technology Zones Modon
- They are part of the country’s plan to generate 50 percent of its energy from renewables
Prices at pump soar in Lebanon after new subsidy cut
The cost of hydrocarbon fuels in Lebanon has now roughly tripled in the two months
- The cost of hydrocarbon fuels in Lebanon has now roughly tripled in the two months
- Dire shortages have seen Lebanon's people struggle to find enough fuel to drive to work
Economy
Morocco to keep Algeria-Spain gas pipeline open
The operating contract for the Moroccan section of the Maghreb-Europe Gas Pipeline, which links fields in Algeria with Spain, runs...
- The operating contract for the Moroccan section of the Maghreb-Europe Gas Pipeline, which links fields in Algeria with Spain, runs out in October
- There was concern its renewal might fall foul of the latest spat between the two countries
Business
Iran’s July oil output rises 28% year on year: OPEC
Iran produced 2.485 million barrels per day or bpd of crude oil in July, according to OPEC’s latest monthly report.
- The country’s average crude output for the second quarter of 2021 stood at 2.443 million bpd
- This indicated a 224,000-bpd increase compared to the figure for the first quarter of the year
Economy
Hezbollah says Iran fuel tanker to sail to Lebanon
The move, prohibited by US sanctions on Iran's oil industry, could drag Lebanon into the covert naval war between Tehran...
- Neither the Iranian nor the Lebanese governments have confirmed the paramilitary organisation's claim
- The move, prohibited by US sanctions on Iran's oil industry, could drag Lebanon into the covert naval war between Tehran and Israel
Geostrategy
Egypt ties up with Sudan to map geothermal energy potential
The two countries will also expand the installation of fixed and mobile seismic stations.
- With the world moving away from fossil fuels, countries across the world are turning to alternate sources of energy
- This cooperation could help Sudan along those lines, as it looks to power more and more industries and households
Economy
Lebanon grapples with power, telecom outages
The outages come less than two days after a fuel tank exploded in the village of Al-Tleil, scorching people clamouring...
- The outages come less than two days after a fuel tank exploded in the village of Al-Tleil, scorching people clamouring to fill petrol that the army was distributing
- Lights and phone lines went out across the impoverished and marginalised region that has long suffered from an ailing power grid
Business
Aramco plans $20m stock swap with Reliance Industries
Saudi Aramco chairman Yasir Al-Rumayyan was inducted into the RIL board in June in the run-up to this deal.
- This is expected to be an all-stock deal, where Aramco will get a 20% share of RIL for about $20-25 billion worth of its own shares
- Based on Aramco’s valuation of $1.9 trillion, the transaction would give RIL a 1 percent stake in Aramco
Business
Khalid Al Qubaisi new ADES CEO
Al Qubaisi served as a VP at Mubadala Investment Company.
- ADES, a TAQA subsidiary, is responsible for retrofitting government and commercial buildings.
- TAQA expects the appointment shows its ambition to become a champion for low carbon power.
Investigation
GCC seeks to tap green hydrogen demand
The GCC countries see hydrogen as a key factor in fuel transition and have drawn up plans to export green...
- UAE first in GCC to reduce emissions by 24 percent by 2030 and to 50 percent by 2050
- GCC countries have plenty of space, sunshine wind energy in some areas
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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
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
Company News
Latest News
MBM Holding, Portland Holdings ink MoU
Firms will work together on nuclear, renewable energy.
Business
Green groups sue Europe over false energy label
BRUSSELS, BELGIUM - Environmental groups lodged a lawsuit against the European Commission on Tuesday to challenge its definition of natural gas...
Science
DEWA wins Hydrogen Project of the Year Award for green transition
Dubai, UAE - Dubai Electricity and Water Authority (DEWA) has won the Hydrogen Project of the Year 2023 Award for...
Business
Most Read
Economy
Iraqi government plans to reduce economy’s dependence on oil
BAGHDAD, IRAQ - Iraqi Prime Minister Muhammed S. Al-Sudani chaired a meeting focused on discussing the provisions of the federal...
- The meeting discussed the provisions of the federal budget bill submitted to the Parliament.
- The Iraqi PM highlighted the plans for enhancing development and advancing the economy.
Economy
G7 climate ministers pledge to end plastic pollution by 2040
A statement put out by G7 said the phase-out will be achieved by "promoting sustainable consumption and production of plastics,...
- The G7 statement said the group remains committed to end plastic pollution, with the resolve to lower additional pollution to zero by 2040
- According to the OECD group of developed countries, during the last 20 years plastic waste has doubled globally and only nine percent is recycled
Science
UAE launches its second nanosatellite DEWA SAT-2
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) successfully launched its second nanosatellite, DEWA SAT-2, aboard SpaceX’s Falcon 9...
- The launch of DEWA SAT-2 underlines the firm's commitment in using space technologies to improve the operations and maintenance of electricity and water networks.
- The nanosatellite was designed and developed by Emiratis at DEWA’s Research and Development Center, in collaboration with NanoAvionics in Lithuania.