Saboteurs hit Iran pipelines disrupting gas supply: state media
The saboteurs hit pipelines in the cities of Borujen in the southwestern province of Chaharmahal and Bakhtiari, and Safashahr in...
Geostrategy
Pakistan must move from ‘anarchy and polarization’ after election: army chief
"The nation needs stable hands and a healing touch to move on from the politics of anarchy and polarization, which...
Business
Aramco seeks to become China’s all-inclusive energy, chemicals source
Beijing, China - Saudi Arabia's Aramco said it wants to be an all-inclusive source of energy and chemicals for China’s...
- Aramco CEO said the company is supplying new lower carbon products, chemicals and advanced materials, all supported by emissions reduction technologies.
- "In particular, we see a major win-win opportunity to build a world-leading, integrated downstream sector in China," he said.
Business
DEWA, UAE energy ministry discuss cooperation for clean energy goals
DUBAI, UAE - MD & CEO of the Dubai Electricity and Water Authority (DEWA) Saeed Mohammed Al Tayer discussed consolidating...
- DEWA’s current capacity has reached 490 Million Imperial Gallons per Day of desalinated water.
- DEWA is also working to increase the capacity of the transmission and distribution networks.
Science
UAE urges investment, action for water sustainability at UN meet
DUBAI, UAE – UAE Minister of Climate Change and Environment Mariam bint Mohammed Almheiri emphasized the importance of collaboration, data...
- The UAE is on track to reduce total water consumption of its food sector by over 15 percent despite doubling production by 2030.
- The UAE’s national plan - the Water Security Strategy 2036 - ensures that programs are implemented on the supply and demand side.
Market Report
Saudi Arabia’s TASI ends the week higher while UAE markets fall
Several factors contributed to the fall in UAE markets, including a decline in oil prices, worries about multinational banks' health.
- The primary index of the Abu Dhabi Securities Exchange fell by 0.5 percent, while the Dubai market's main index dropped by 0.9 percent.
- In Dubai, losses in the industrial and financial services sectors led to a 0.5 percent drop in the main index on Monday.
Geostrategy
UAE highlights food, energy insecurity at G20 Finance Track meeting
CHENNAI, INDIA - The UAE spoke on food and energy insecurity and their implications in the second Framework Working Group...
- The UAE delegation highlighted emerging uncertainties in the finance sector.
- The delegation discussed effective ways to promote global financial stability.
Science
EU, Germany reach deal on fossil fuel car phaseout
BRUSSELS, BELGIUM - The European Union and Germany on Saturday said they had struck a deal after a dispute over the...
- A landmark deal to prohibit new sales of fossil fuel cars from 2035 is key to the bloc's ambitious plan to become a "climate-neutral" economy by 2050.
- Germany demanded that the EU provide assurances the law would allow the sales of new cars with combustion engines that run on synthetic fuels.
Geostrategy
Denmark asks Nord Stream owner to help recover mystery object
COPENHAGEN, DENMARK - Denmark has invited the Russian-controlled operator of the Nord Stream 2 pipeline to help recover a mystery object...
- Russian energy giant Gazprom holds a majority stake in the twin pipelines, with the rest owned by German, Dutch and French companies.
- The Danish energy agency released a photo of the cylindrical object standing near the Nord Stream 2 pipeline at the bottom of the sea.
Economy
Eco-friendly goods buck global downward trade slide: UNCTAD
Trade in such goods grew by around four percent in the second half of 2022, with their combined value hitting...
- Global trade surged to a record $32 trillion in 2022 before reversing course in the second half of the year amid deteriorating economic conditions and swelling uncertainties.
- UNCTAD said it expected green industries to boom further as countries scale up their efforts to cut emissions and battle global warming.
Economy
Unity key for ‘transformational progress’ at COP28
“We have a short window of opportunity to deliver a system-wide transformation. But if we make the right investments, we...
- There is a need for accelerated pathways to net zero and critical finance across all pillars, says COP28 President-Designate Dr Sultan bin Ahmed Al Jaber
- He also reminds climate ministers of various countries about the approaching Global Stocktake at COP28 and calls for action to keep 1.5C within reach
Opinion
ESG investment, COP28 drive GCC sustainability bid
As the effects of climate change intensify each year, there is an urgent need to transform multiple industries to meet...
- UAE accelerates its sustainability objectives with laser-focused ESG plans and policies, writes Damian Hitchen, CEO of SAXO Bank MENA
- As the UAE is all set to host COP28, an investment pledge of AED600 billion by 2050 comes with its own set of challenges, he adds
Saboteurs hit Iran pipelines disrupting gas supply: state media
The saboteurs hit pipelines in the cities of Borujen in the southwestern province of Chaharmahal and Bakhtiari, and Safashahr in...
Geostrategy
Company News
Aramco, ENOWA ink pact
Business
Latest News
Oil slides further after OPEC delay as Asian stocks struggle
Both main crude contracts slipped more than one percent on news that the much-anticipated gathering of the major producers would...
Economy
Indonesia unveils plan to bring $20bn energy investment from West
Jakarta, Indonesia - Indonesia on Tuesday launched an investment plan to attract $20 billion pledged by Western nations in a renewable...
Business
Earth to warm up to 2.9C even with current climate pledges, says UN
PARIS, FRANCE - Countries' greenhouse gas-cutting pledges put Earth on track for warming far beyond key limits, potentially up to a...
Geostrategy
Most Read
Business
Norwegian firm expects first cross-border transport of CO2 in 2025
Oslo, Norway -- Norwegian fertilizer group Yara International on Monday signed a contract to begin transporting CO2 produced at its Netherlands...
- Yara International signed a contract to begin transporting CO2 produced at its Netherlands plant to Norway so it can be buried under the seabed.
- Carbon capture and storage is aimed at helping halt climate change, involves capturing CO2 emissions at factory smokestacks and burying them underground in geological reservoirs.
Economy
Gaza conflict casts shadow on Israel’s gas industry
War with Palestinians disrupts Israel's gas exports, causing economic losses and altering energy strategies.
- The accounting and consulting firm BDO Israel estimated the economic losses of the closure of the Tamar field at about US$ 201 million a month
- The gas field supplied 8.7 billion cubic meters of gas to the Israeli market in 2022 while exporting another 1.57 billion cubic meters to Egypt and Jordan
Business
Adoption of electric vehicles in US face infrastructure hurdles
NEW YORK, US - The US transition to electric cars has hit a speed bump, with concerns about vehicle range and...
- Automakers in recent weeks have pushed back EV sales targets and delayed capital projects as they seek to reduce inventories of unsold EVs at dealerships.
- The network of EV charging stations in the US remains dodgy, with many areas either lacking infrastructure or equipped with unreliable machines