Turkish strikes leaves hundreds of Syrian villages without electricity
Qamishli, Syria - Hundreds of northeast Syrian villages and towns have lost power after Turkish strikes pounded electricity stations and infrastructure,...
Geostrategy
Economy
Asian markets, crude drop on China unrest
Investors are now looking ahead to the release of US jobs data at the end of the week, which could...
- China-linked stocks took the brunt of selling, with Hong Kong's Hang Seng Index down two percent and Shanghai off one percent
- The prospect of a hit to demand in the world's biggest crude importer hammered oil prices, with both main contracts down more than two percent
Business
DEWA commissions two new transmission substations
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has commissioned a new 132/11kV substations in Al Awir First with...
- DEWA inaugurated a new transmission 400/132kV substation in Jebel Ali First.
- DEWA inaugurated an overhead cables with a conversion transmission of 2,000 MVA, at a total cost of US$92 million.
Geostrategy
Saudi would back bids for Man Utd, Liverpool, says sports minister
Saudi Arabia would back private bids for Manchester United or Liverpool, its sports minister said, adding the kingdom was keen...
- Saudi Arabia last year snapped up England's perennial under-achievers Newcastle - at is now third in the Premier League.
- Saudi Arabia's chances of bidding for the World Cup would increase if it wins hosting rights for the 2026 and 2027 women's and men's Asian Cups.
Business
DEWA to hold second General Assembly in December
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA), which is listed on the Dubai Financial Market (DFM), has announced...
- The assembly will vote on the recommendation of the Board of Directors to distribute a special one-time cash dividend of US$552 million to its shareholders.
- For the year 2022, DEWA intends to pay its shareholders a total dividend of $2.24 billion.
Geostrategy
UAE takes part in IORA meetings in Bangladesh
DHAKA, BANGLADESH - The UAE participated in the Indian Ocean Rim Association's (IORA) 22nd Council of Ministers (COM) meeting and...
- The UAE affirmed its commitment to promoting inclusive growth and prosperity within the Indian Ocean region.
- The launch of the Sheikh Zayed IORA Scholarship for Humanitarian Action and Development was officially announced.
Economy
EIC calls UAE as the leader in renewable energy sector
London, UK --The Energy Industries Council (EIC), one of the world’s largest energy trade associations, has released a report on...
- An EIC report titled “UAE: EIC Country Report – November 2022”, highlights the UAE’s Hydrogen developments in the sector.
- “The UAE could be a key player and deliver 25 percent of the production of the global low-carbon hydrogen market by 2030,” the report said
Business
Nestle pours $1.8 bn in S Arabia
Firm said this will help bolster its presence in kingdom.
- Nestle's announcement is likely to be a major boost to Saudi Arabia as the kingdom pushes to attract greater foreign investment.
- Nestle will build a new factory, due to open in 2025 that will produce infant nutrition products and ready-to-drink coffee.
Geostrategy
Jordan Minister calls for MENA-Europe electric connection project
AMMAN, JORDAN - Jordan's Minister of Energy Saleh Kharabsheh stressed on the importance of conducting an electrical interconnection project to...
- Jordan's Minister said electric connection with Europe achieves integration by supplying the continent with relatively low-cost energy.
- He said that Jordan seeks to turn its electric power grid into a smart one.
Geostrategy
Gas price cap divides EU energy ministers’ meeting
BRUSSELS, BELGIUM - EU energy ministers met Thursday to debate measures to mitigate the energy crunch in Europe but were...
- They were to discuss a proposal by the European Commission, unveiled just two days earlier, that would set a cap on gas prices at 275 euros per megawatt hour.
- Many members complained that the plan comes with such conditions attached that it was designed never to be used.
Geostrategy
Iran says starts enriching uranium to 60% at Fordo plant
Under a landmark deal struck in 2015, Iran agreed to mothball the Fordo plant and limit its enrichment of uranium...
- The move was part of Iran's response to the UN nuclear watchdog's adoption last week of a censure motion drafted by Western governments
- An atomic bomb requires uranium enriched to 90 percent, so 60 percent is a significant step towards weapons-grade enrichment
Company News
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Saudi Arabia explores carbon capture, storage potential
“Achieving success in this area will benefit everyone and align with the goals of the Paris Climate Agreement,” he adds...
Economy
Saudi Arabia, India ink MoU on electrical interconnectivity, green hydrogen
RIYADH, SAUDI ARABIA - India and Saudi Arabia signed a Memorandum of Understanding (MoU) here in electrical interconnection, green/clean hydrogen,...
Geostrategy
MOCCAE and Tadweer sign MoU to launch ‘Waste to Zero’ initiative
Abu Dhabi, UAE -- UAE's Ministry of Climate Change and Environment (MOCCAE) and Abu Dhabi Waste Management Company (Tadweer) have...
Geostrategy
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Geostrategy
Putin launches Russian gas shipments to Uzbekistan
Moscow, Russia - Russian Vladimir Putin on Saturday announced the start of gas supplies to Uzbekistan via Kazakhstan, a boost for...
- Despite being home to a wealth of natural resources including gas, the Central Asian country of Uzbekistan has faced energy shortages.
- Russian gas exports decreased by 21.5 percent in 2022 - as its largest buyer the European Union drastically reduced imports.
Business
Dubai’s weeklong real estate transactions exceed US$2.5bn
DUBAI, UAE - A total of 1,445 real estate transactions worth over US$2.5 billion (AED 9.5 billion) were conducted during...
- The Dubai Land Department report showed that 248 plots were sold for US$476 million.
- The DLS report said 1,197 apartments and villas were purchased for US$865 million.
Science
Drought caused major global hydropower drop in early 2023
BANGKOK, THAILAND - Dry conditions, particularly in China, caused a "historic" global drop in hydropower in the first half of 2023,...
- Wind and solar generation grew more slowly in the first half of this year than in the same period last year.
- The chief of this year's COP climate meeting has called for a global tripling of renewable energy capacity by 2030.