China discovers world’s largest metamorphic rock oilfield in Bohai Sea
BEIJING, CHINA – The China National Offshore Oil Corporation (CNOOC) has announced the recent discovery of the largest metamorphic rock...
Business
Dutch court upholds $50bn payment award in Yukos case
THE HAGUE, NETHERLANDS - A Dutch court quashed an appeal by Russia in a record $50-billion case on Tuesday, paving the...
Geostrategy
Business
DEWA wins award at Global Excellence Assembly Awards 2022
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has been awarded with the Global Excellence Assembly Awards 2022, based...
- DEWA is the only entity worldwide to win this category in the second round of the award this year.
- DEWA scored 94 percent in the evaluation conducted by the International Council of Excellence according to the Baldrige model.
Economy
Germany uses more renewable energy, still falls short of CO2 goal
The setback comes despite a record 4.7 percent drop in energy consumption last year, partly in response to soaring fuel...
- Europe's biggest economy emitted 761 million tons of greenhouse gases last year, just one ton fewer than in 2021 and overshooting the target of 756 million tons.
- The German government had aimed to reduce carbon dioxide emissions by 40 percent by 2020 compared with 1990 levels, but has yet to achieve the feat.
Economy
Dubai launches business group to promote renewable energy usage
The UAE Government will invest AED600 billion ($163.36bn) in renewable energy by 2050 to meet the country's growing energy demand...
- Announced in 2017, the UAE Energy Strategy 2050 aims to reduce the carbon footprint on power generation by 70 percent.
- The UAE has since launched notable initiatives and taken significant steps towards realizing these goals by 2050.
Economy
Abu Dhabi to host Green Hydrogen Summit in year of climate action for UAE
The summit is being held in partnership with the Hydrogen Council, Atlantic Council, International Renewable Energy Agency and Dii Desert...
- The summit is being held in partnership with the Hydrogen Council, Atlantic Council, International Renewable Energy Agency and Dii Desert Energy
- The summit will feature high-level discussions on the UAE hydrogen economy, the role of government and regulation, and panel sessions on sustainable finance
Business
Sustainability key for next-gen data center models
At present, the data center industry as a whole uses approximately 150 billion kilowatt-hours of electricity annually, which is about...
- At present, the data center industry as a whole uses approximately 150 billion kilowatt-hours of electricity annually, which is about 3 percent of the world’s electricity usage
- Data centers must operate as efficiently and sustainably as possible to eliminate any potential harm to the environment.
Business
Ducab partners with Vestas
Ducab's supplying medium voltage and earthing cable.
- Ducab Group is one of the UAE’s largest industrial manufacturing businesses.
- The move reinforces the strong industrial partnership between the UAE and Egypt.
Economy
Gas prices fall to lowest level in Europe since Ukraine war
EU nations have adopted a mechanism to cap natural gas prices, but analysts say it will likely have only a...
- Gas prices have been falling since August, hitting 73 euros on Monday -- 50 percent down from a month ago and the lowest level since before the war on February 21
- European nations filled up their gas storage facilities and launched campaigns to encourage consumers to save on energy during the winter
Arts & Culture
DEWA encourages active lifestyle by organizing sporting events
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) organized 12 sports tournaments in 2022, with the participation of 2,437...
- DEWA sponsored and hosted three sports tournaments, and participated in several local sports events.
- DEWA’s Sports Committee organized the DEWA Bowling Tournament 2022 and 120 employees participated in the event.
Business
Dubai Courts, Moro Hub ink pact to enhance cooperation in cyber security
DUBAI, UAE - Dubai Courts signed a Memorandum of Understanding with Moro Hub, a subsidiary of Digital DEWA, the digital...
- Leveraging on Moro’s capabilities, the MoU will serve the society’s interest in providing a comprehensive legal framework to combat cybercrimes.
- The MoU will help in exchange of knowledge and leverage on expertise as per Dubai Courts mission of achieving precise and swift justice.
Surging UK energy bills spark tensions among tenants
In Britain, the average domestic energy bill has roughly doubled over the last 12 months. That has helped push inflation...
- Household electricity and gas bills have rocketed across Europe this year, after key energy producer Russia invaded Ukraine in February
- Simon Francis, campaigner at pressure group End Fuel Poverty expressed concern that some tenants - whose rent includes energy bills - might not benefit from state assistance
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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
China discovers world’s largest metamorphic rock oilfield in Bohai Sea
BEIJING, CHINA – The China National Offshore Oil Corporation (CNOOC) has announced the recent discovery of the largest metamorphic rock...
Business
Company News
Latest News
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...
Geostrategy
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...
Interview
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...
Economy
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Business
QatarEnergy inks second 27-year gas supply deal with China’s Sinopec
DOHA, QATAR - Qatar has agreed to supply Sinopec with natural gas for 27 years, the Gulf emirate's state-owned energy company said...
- Doha will supply three million tonnes of gas a year to Sinopec under the deal.
- Asian countries led by China, Japan and South Korea are the main market for Qatar's gas.
Science
Global energy meet discusses way forward to net-zero emissions
VIENNA, AUSTRIA – High-level representatives from the member states of the United Nations Industrial Development Organization (UNIDO), international organizations, experts...
- The two-day forum showcased innovative technologies and transformative solutions to accelerate low-emission, climate-resilient development.
- The international event aimed to foster new partnerships to scale up investments and technology transfer to developing countries.
Business
Ducab, Somagec ink MoU
The MoU will enable UAE-based firm to enter Angolan market.
- Ducab Group already supplies its “Made in the UAE” products to 15 countries in Africa.
- It is constructing over 400 kilometers of 220kV transmission lines in Angola.