World resource extraction could surge 60 percent by 2060, UN warns
Paris, France - Extraction of Earth's natural resources could surge 60 percent by 2060, imperiling climate goals and economic prosperity, the...
Economy
Europe’s gas demand at 10-year low, to peak in 2025: report
The invasion of Ukraine by Russia triggered a massive shift by European nations away from Russian natural gas delivered by...
Business
Interview
Solar power energizes GCC’s sustainability drive
Solar-photovoltaic panel in a GCC country produces twice as much output as it would in Germany or any similar European...
- Solar-photovoltaic panel in a GCC country produces twice as much output as it would in Germany or any similar European country, ZOLA Electric CEO Bill Lenihan tells TRENDS.
- Solar power plants in the Gulf region can expect 1,750 to 1,930 hours of full-load operation per year, while European countries such as Germany register only 940 hours of load
Business
Iraq loses 7500MW as Iran slashes gas exports to Baghdad
Baghdad, Iraq - Iraq's Minister of Electricity, Ziyad Ali Fadel said the national grid has lost 7,500 megawatts in the...
- Minister of Electricity Ziyad Ali Fadel said the MoU signed with Siemens will lead to the establishment of a station with a capacity of 400MW in Karbala.
- He said the supply will improve by 30 percent in 12 days as gas supplies return to nomral.
EU mission to Armenia will fuel confrontation, says Russia
The mission has been launched during what Armenia describes as a "humanitarian crisis" ravaging the breakaway region of Nagorno-Karabakh. Since...
- Moscow has sought to maintain its role as a powerbroker between the ex-Soviet republics despite being bogged down in its offensive in Ukraine
- On Monday, the EU launched a civilian mission to help monitor Armenia's border with Azerbaijan, bolstering the bloc's role in a region
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
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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
World resource extraction could surge 60 percent by 2060, UN warns
Paris, France - Extraction of Earth's natural resources could surge 60 percent by 2060, imperiling climate goals and economic prosperity, the...
Economy
Company News
Latest News
IAEA greenlights 3 national projects in Qatar
Doha, Qatar - The International Atomic Energy Agency (IAEA) has given the green light to three new national projects in...
Almost all oil and gas producers developing unneeded fields: NGO
Germany's Urgewald, along with 50 other NGOs, analyzed the investment plans of 1,623 companies involved in the oil and gas...
Business
Aramco produces first unconventional tight gas
Dhahran, Saudi Arabia - Aramco, one of the world’s leading integrated energy and chemicals companies, has successfully produced the first...
Business
Most Read
Analysis
Saudi pioneering solutions for water scarcity
The kingdom is forging partnerships with major corporations to revolutionize water technologies and achieve water self-sufficiency.
- Water scarcity is 500 cubic meters per capita, while Saudi Arabia's annual per capita share of water does not exceed 89.5 cubic meters.
- The Saline Water Conversion Corporation has signed agreements with several major corporations to tackle water scarcity.
Business
EVIQ to set up infra for EVs in KSA
PIF, SEC JV's brand name for EV infrastructure is EVIQ.
- EVIQ will support electric vehicle adoption in Saudi Arabia by building best-in-class infrastructure and creating a nationwide network of fast-charging hubs.
- This will help enable and encourage the use of electric vehicles across Saudi Arabia, in line with the sustainability goals of the Kingdom.
Economy
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...
- The market witnessed substantial short covering as the week unfolded, partly fueled by Iraq's commitment to OPEC+'s production level agreements
- Looking ahead, OPEC+ is scheduled to meet on November 26, where discussions on production levels and potential supply adjustments will take center stage