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...
Jordan’s EMRC grants approvals for EV charging infrastructure
AMMAN, JORDAN - The Energy and Minerals Regulatory Commission (EMRC) has issued over 300 authorizations for the installation of electrical...
Business
Economy
New lab set to make KSA a leader in renewable energy
The Gulf International Laboratory aims to localize industries, enhance local content and build capabilities to boost competitiveness of the Kingdom's...
- The Gulf International Laboratory aims to localize industries, enhance local content and build capabilities to boost competitiveness of the Kingdom's economy
- The laboratory is likely to save more than US$ 266.5 million in the field of testing energy devices by eliminating tests conducted outside Saudi Arabia
Business
DEWA’s R&D Center registers its 7th patent for 3D printing adhesive device
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has announced the registration of a new patent for an adhesive...
- The device distributes the adhesive material on the 3D printing plate, ensuring that the printed material sticks securely to the build plate.
- DEWA's R&D Center is responsible for supporting innovation in all production and operational areas.
Economy
IEA calls special meeting as gas crisis ‘not over’
IEA Executive Director Fatih Birol said the measures taken following Russia's invasion of Ukraine helped European nations whether Russia cutting...
- The meeting, to be held on Wednesday by video conference, is the first such special IEA ministerial meeting recent history
- It will also include ministers from several non-IEA member nations and will look at the global repercussions of the cuts to European gas supplies
Oil rises as Russia cuts output after Western price cap
Brent, the international benchmark, and its US counterpart WTI, which had been down earlier in the day, jumped more than...
- Russia is part of a 23-nation alliance with the OPEC crude cartel that already agreed in October to reduce output by two million barrels per day until the end of this year
- An EU-wide ban on Russia oil products - like diesel, gasoline and jet fuel - came into effect Sunday alongside a Group of Seven (G7) price cap on the same items
Business
Russia to slash oil output by 5% over Western price cap
Russia is part of an alliance with OPEC that meets regularly to decide on oil output levels. As a result...
- The international benchmark, Brent North Sea crude, leapt 2.3 percent to $86.48 per barrel. New York contract WTI soared 2.5 percent to $80.01.
- "Russia will voluntarily reduce production by 500,000 barrels per day in March. This will help restore market relations," Deputy PM Alexander Novak said.
Business
Equinor posts record profit
Output slipped by 2% to 2.04 million barrels per day of oil equivalent.
- Net profit more than tripled to $28.7 billion, boosted mainly by skyrocketing gas prices.
- Equinor said it plans to invest $10-11 billion in 2023 and increase its oil and gas production by three percent.
Market Report
Stocks steady, dollar higher on US rate-hike expectations
Stock markets largely steadied and the dollar rose with traders forecasting US interest rates to keep climbing following last week's...
- January's rally for equities was halted as investors contemplate an extended period of high borrowing costs.
- Leading Asian stock markets and London managed gains Tuesday after all three main indices on Wall Street kicked off the week with losses.
Business
DEWA updates strategic plan to include achieving net-zero by 2050
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has updated its strategic plan, adding achieving net-zero by 2050 to...
- DEWA is steadily moving towards reducing its carbon footprint to achieve a sustainable net-zero carbon by 2050.
- The production capacity of clean energy in Dubai is around 14 percent of total power generated.
Russia’ Foreign Minister in Iraq for energy talks
Iraq, a close ally of Iran, also has strategic relations with the United States, which still has soldiers in the...
- Lavrov landed in Baghdad late on Sunday at the head of a large delegation that includes "oil and gas companies and investors", Ahmed al-Sahhaf told AFP
- He will also meet Prime Minister Mohammed Shia al-Sudani, President Abdul Latif Rashid, and parliament speaker Mohammed al-Halbussi
Economy
Preserving natural resources crucial for future generations, reiterates key UAE official
The UAE has a long and established history in the field of sustainability, which began with the initiatives launched by...
- Protecting and preserving natural resources for future generations is very important and the UAE is committed to achieve sustainability, says an official
- The UAE has a long and established history in the field of sustainability, which began with the initiatives launched by the late Sheikh Zayed Al Nahyan, he adds
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...
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Oil prices edge up on Iraq’s backing for OPEC+ output cuts
New York, United States - Oil prices saw a modest 2% increase on Friday, boosted by Iraq's expressed support for...
Economy
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Interview
Diversification remains crucial for oil-rich nations
Combating climate change demands global collaboration and collective action, European Commissioner for Cohesion and Reforms Elisa Ferreira tells TRENDS in...
- Combating climate change demands global collaboration and collective action, European Commissioner for Cohesion and Reforms Elisa Ferreira tells TRENDS in an interview
- She highlights the need for a global sustainability approach, emphasizing localized transitions, inclusivity, and the urgency of shifting to sustainable development
Economy
Russia to continue voluntary oil export cuts by 300,000 barrels a day until yearend
Moscow, Russia - Russia will continue additional voluntary oil export cuts by 300,000 barrels a day until the end of...
- Additional cuts are geared to enhance OPEC+ measures to maintain stability and balance on oil markets
- Russia began to voluntarily cut oil production by 500,000 barrels a day from February’s average back in March
Science
AI to contribute in enhancing low-emissions development
BONN, GERMANY - Artificial intelligence (AI) can make substantial contributions to climate-resilient and low-emissions development. UN Climate Change’s Initiative on...
- UN Climate Change’s Initiative on Artificial Intelligence for Climate Action explores the role of AI as a tool for climate action in developing countries.
- It aims to deliver results both on policy and implementation, under the first joint work program of UN Climate Change’s Technology Mechanism.