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Tesla sales tumble in Europe in Q1

The company suffered from boycotts against the policies of Elon Musk.

Ford’s US Q1 auto sales dip

But its Q1 figures exceed a forecast by Edmunds

Vanke reports annual loss of $6.8 bn

The property giant attributes loss to falling sales and shrinking profit.

Goldwind 2024 revenue up 12.5%

The clean energy giant posted $7.8bn in revenue for 2024.

Emaar to pay $2.39bn dividend

The company had posted $19bn in property sales for 2024.

Turkmenistan to supply 2bcm gas to Turkiye: Turkish minister

Ankara, Turkey - Turkish Energy and Natural Resources Minister Alparslan Bayraktar announced on Friday the signing of a memorandum of...

QatarEnergy inks pact with Marubeni

QatarEnergy will supply naphtha to Marubeni for 10 years.
  • This pact builds on the five-year Naphtha sales agreement signed in 2018 between QatarEnergy and Marubeni Corporation.
  • Japan-based Marubeni Corporation is the largest petrochemical feedstock trading entity and aggregator in Asia.

Rising demand for critical metals pose dilemmas for investors

PARIS, FRANCE - Soaring demand for the raw materials needed for the transition towards renewable energy is creating dilemmas for investors...
  • Demand for lithium, an essential component of car batteries, could increase ninefold between 2022 and 2050, said the International Energy Agency.
  • Lithium and other metals that the IEA calls “key to the clean energy transition” will be the topic of a summit hosted by the global energy watchdog in Paris.

‘Saudi Arabia committed to peaceful nuclear energy’

"The Kingdom underscores the need for collective international efforts to enforce the provisions of the Non-Proliferation Treaty and ensure its...
  • Saudi Arabia's government emphasizes transparency, reliability, and safety in its national atomic energy policy
  • It acknowledges the positive impact of nuclear energy on energy security and socio-economic benefits.

European Union okays lighter pact on curbing car emissions

Brussels, Belgium - EU member countries on Monday adopted a watered-down deal on curbing car emissions, after auto manufacturers complained stricter...
  • Led by France and Italy, the 27 nations voted for a less ambitious plan than the one put forward by the European Commission in November 2022
  • The European Automobile Manufacturers' Association (ACEA), the sector's main EU lobby group, cautiously welcomed the decision

ADNOC, TAQA complete financial closing on sustainable water supply project

ABU DHABI, UAE - ADNOC and Abu Dhabi National Energy Company (TAQA) have completed the financial closing of their $2.2...
  • A consortium comprising Orascom Construction and Metito (the Consortium) will construct a centralized world-class seawater treatment facility.
  • ADNOC and TAQA own a joint 51 percent majority stake (25.5 percent each), the Consortium owning the remaining 49 percent stake in the project company.

Iran criticizes US statement on islands dispute with UAE

Iran said it had called in the Swiss envoy to deliver a protest over a “provocative” US statement on its...
  • The islands of Abu Musa and Greater and Lesser Tunb lie near the Strait of Hormuz.
  • Iran gained control of the islands under the rule of the Western-backed shah in 1971.

China to control half the world’s hydrogen electrolyser capacity

China's installed electrolyzer capacity has jumped significantly in recent years, and is expected to reach 1.2 gigawatts –- 50 percent...
  • China's installed electrolyzer capacity has jumped in recent years and is expected to reach 1.2 gigawatts after having accounted for just 10 percent of the global capacity in 2020
  • Electrolyzers are devices used for the industrial separation of hydrogen and oxygen within water molecules, using electricity obtained through renewable energy sources

UK to revoke plan to attain net zero emissions by 2050

LONDON, UK- The UK looked set to backtrack on Wednesday on policies aimed at achieving net zero emissions by 2050 with...
  • The move comes amid growing concern over the potential financial cost of the government's policies to achieve net zero carbon emissions by mid-century.
  • Prime Minister Sunak said while the government was committed to the net zero target, it would try to achieve it "in a better, more proportionate way".

TotalEnergies, Adani Group set up JV for wind, solar power production in India

PARIS, FRANCE - French firm TotalEnergies and Indian group Adani unveiled plans on Wednesday to create a joint venture to develop wind...
  • The JV will include wind and solar assets that Adani Green Energy Limited already operates and is building and developing in India.
  • TotalEnergies has been developing renewable electricity production, with 19 GW of installed gross production capacity as of July 2023.

Aramco, IHC among biggest companies in Middle East

Energy, banking and financial services, and industrial sector companies are among the largest in the Middle East, especially the Gulf...
  • High representation of these sectors is due to the region's rich oil and gas reserves and its growing population and economies.
  • The Middle East is also home to a number of other significant industries, such as tourism, healthcare, and education.

Turkmenistan to supply 2bcm gas to Turkiye: Turkish minister

Ankara, Turkey - Turkish Energy and Natural Resources Minister Alparslan Bayraktar announced on Friday the signing of a memorandum of...

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Turkish strikes leaves hundreds of Syrian villages without electricity

Qamishli, Syria - Hundreds of northeast Syrian villages and towns have lost power after Turkish strikes pounded electricity stations and infrastructure,...

EU worried Red Sea attacks could spark inflation

European Union economy commissioner Paolo Gentiloni warned that violence in the Red Sea sparked by Houthi attacks on shipping could...

Saudi Arabia to highlight role in dealing with global challenges at WEF meet

RIYADH, SAUDI ARABIA – Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef said that the Kingdom’s participation in the...

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DEWA records 12.5 million digital transactions in 2023

DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) announced that its customers conducted around 12.5 million digital transactions in...
  • DEWA offers digital services for electricity and water management, as well as innovative sustainability services.
  • These include smart living initiative, features like consumption monitoring, comparison with high-efficiency homes.

Oil prices rise on Red Sea escalation, corporate earnings season

Crude prices spiked more than four percent before ebbing somewhat after the allies launched deadly strikes following weeks of disruptive...
  • In Friday trade, the Dow dipped while the S&P 500 edged higher as investors digested corporate earnings and a surprise drop in wholesale inflation
  • Leading banks were mostly lower following a deluge of quarterly results, while airlines were hammered after Delta's forecast disappointed investors

Oil prices rise after US, UK strike Houthi rebels

Oil prices surged four percent after US and UK forces launched strikes against Iran-backed Houthi rebels after attacks on ships...
  • Wall Street had ended flat on Thursday, while the dollar was closing the week with gains against the euro.
  • The Houthis have carried out a number of strikes on vessels in the Red Sea, a key international shipping route.