Price of natural gas in Europe falls to a 3-year low
LONDON, UK – The price of natural gas in Europe fell again on Friday, taking it to its lowest in almost...
Business
Qatar minister urges Gaza ceasefire to end Red Sea insecurity
The Houthis, who control vast swathes of Yemen, have said the attacks, beginning in November, have targeted vessels linked to...
Geostrategy
Market Report
Markets rise on better-than-expected US growth
Stock markets rose as US data showed the country grew at a slower pace in 2022 but finished the year...
- For 2022 as a whole, the US economy grew at a slower pace than the previous year, expanding 2.1 percent, the Commerce Department said.
- Investors are also focused on the next move of the US Federal Reserve, which has hiked rates since last year in a bid to tame galloping inflation.
Geostrategy
Iraqi PM to visit France for energy and security talks
BAGHDAD, IRAQ - Iraqi Prime Minister Mohammed Shia al-Sudani will travel to France on Thursday for energy and security talks with...
- Sudani said he wants to "activate the agreements" between oil-rich Iraq and France "particularly in the transport, energy and investment sectors".
- French giant TotalEnergies in 2021 signed a $10 billion contract with Baghdad, but work on the multiple projects is yet to begin.
Business
DEWA, SAP senior management discuss cooperation in Dubai
DUBAI, UAE - Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (DEWA), received Christian Klein,...
- DEWA MD and CEO highlighted the firm's projects and programs to anticipate and shape the future in line with the UAE Centennial 2071.
- He emphasized on the importance of exchanging global best practices and experiences between the two sides.
Business
DEWA is an organizing partner in Dubai International Project Management Forum 2023
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) announced that it is participating in the 8th Dubai International Project...
- On the second day of the DIPMF, Saeed Mohammed Al Tayer, MD and CEO of DEWA, will participate in a panel discussion.
- DEWA will present practices and experiences implemented in Dubai, which has become a global benchmark for best practices.
Business
DEWA launches plan for fast approval of electricity connections
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) launched the 'OWNEK' awareness initiative to help its accredited contractors and...
- The OWNEK initiative will save the contractors and consultants time and effort and speed up the workflow.
- The initiative includes a series of awareness sessions and detailed videos in Arabic and English.
Business
RAK first in world to achieve 19 ISO 50001 certifications
Ras Al Khaimah, UAE -- The government of Ras Al Khaimah became the first in the world to achieve the...
- The accomplishment was announced at the World Future Energy Summit 2023, held as part of Abu Dhabi Sustainability Week (ADSW).
- A comprehensive retrofit of government buildings was carried out between 2018 and 2022, through energy performance contracting.
YEARBOOK 2023
Strong economies help GCC survive global chaos
Robust monetary policies curtail the impact of geopolitical tensions, energy crisis, worsening inflation rates and market volatility on the region...
- Robust monetary policies curtail the impact of geopolitical tensions, energy crisis, worsening inflation rates and market volatility on the region during 2022, a report highlights
- Successful hosting of international events in 2022 such as Expo Dubai in the UAE, the World Cup in Qatar, and COP27 in Egypt, also contributed to GCC's strong performance
YEARBOOK 2023
Fearing a decline in demand amidst global slowdown, Kuwait may raise exports of oil derivatives to Europe
The Gulf country expects the average amount of oil production to increase to 2,701,000 barrels this year, the latest Institute...
- The Gulf country expects the average amount of oil production to increase to 2,701,000 barrels this year, the latest Institute of International Finance report points out
- Real GDP growth is expected to slow to 2.5% in 2023 if average crude oil output stabilizes, while real growth outside hydrocarbon sector is projected to stabilize at 3.8%
Business
DEWA implements SAP’s Audit Management System
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has implemented the SAP Audit Management System (TAWKEED), becoming the first...
- DEWA's Internal Audit Department is an independent assurance function that adopts the best-in-class standards and practices.
- The Internal Audit department at DEWA operates under an approved charter.
A fifth of new cars in California zero-emission in 2022: data
On Friday the California Energy Commission said 18.8 percent of new cars sold in the state in 2022 were EVs,...
- Last year officials set ambitious targets for boosting the number of electric vehicles (EVs) and plug-in hybrid vehicles (PHEVs) on the roads
- The California Air Resources Board announced in August the sale of new gasoline and diesel-powered cars would be eliminated by 2035
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
Price of natural gas in Europe falls to a 3-year low
LONDON, UK – The price of natural gas in Europe fell again on Friday, taking it to its lowest in almost...
Business
Company News
Latest News
China emissions to fall in 2024 on renewables jump
The country has been installing renewable energy capacity at breakneck speed, with new solar in 2023 alone amounting to twice...
Economy
Saudi pioneering solutions for water scarcity
The kingdom is forging partnerships with major corporations to revolutionize water technologies and achieve water self-sufficiency.
Analysis
Most Read
Geostrategy
ADNOC Drilling, Alpha Dhabi set up JV
The two companies will invest up to US$1.5 billion.
- ADNOC Drilling will own 51 percent of the JV with Alpha Dhabi holding 49 percent, bringing together a market-leading drilling and OFS expert.
- This will further develop and scale up ADNOC Drilling’s integrated drilling and oilfield services (OFS) offering and enhance operational efficiencies.
Business
DEWA Q3 2023 revenue $2.5bn
The revenue was driven by demand for electricity, water.
- For January-September 2023, DEWA’s consolidated revenue totalled US$6 billion with an operating profit of US$1.8 billion.
- By the end of Q3 2023, DEWA’s net cash from operating activities increased by a robust US$205 million to US$2.6 billion.
Geostrategy
Saudi urges leniency in climate change policies for low income nations
Riyadh, Saudi Arabia - Saudi Arabia said on Thursday that policies to address climate change should not "crush the bones" of...
- Climate change is "relevant and important" but "should not be attended to by crushing the bones and the future of the less (powerful) people," Prince Abdulaziz said.
- Prince Abdulaziz said on Thursday that attempts to provide financial support to countries affected by climate change had so far delivered poor results.