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
Rich nations greenlight S.Africa coal transition plan
The announcement was made at the UN's COP27 climate summit in Egypt's Sharm el-Sheikh, where developed countries are under pressure...
- Britain, France, Germany, the US and the EU will provide the funds in the form of grants and loans
- The Just Energy Transition Partnership (JETP) was first announced last year at the COP26 in Glasgow
Economy
Food prices declined in October, says Jordan trade minister
AMMAN, JORDAN - Jordan Minister of Industry, Trade and Supply and Minister of Labor Yousef Shamali said Monday that food...
- The minister attributed the decline to falling oil prices and its impact on production and transport costs.
- He said that the fall in the prices of food is also due to measures taken by the government.
Geostrategy
‘UAE President’s speech at COP27 outlined vision for climate action’
SHARM EL SHEIKH, EGYPT - UAE Minister of Industry and Advanced Technology Dr. Sultan bin Ahmed Al Jaber said that...
- UAE Minister of Industry said effective climate action accelerates opportunities for sustainable economic and social development.
- The minister said that the President's speech emphasized that continuity and perseverance are at the core of the UAE’s strategy.
Market Report
Stocks rise, oil falls tracking China lockdown policy
Stock markets mostly rose, extending last week's strong gains, while oil prices fell after China reaffirmed its commitment to its...
- The dollar was down against key rivals ahead of this week's US midterm elections.
- Global markets and oil prices were buoyant last week on hopes Beijing may begin to roll back policies aimed at stamping out the disease within its borders.
Economy
WTO urges countries to lift green trade barriers
The World Trade Organization urged countries to abolish trade barriers in environmental goods and services to help fight climate change....
- Trade is a force for good for climate and part of the solution for achieving a low-carbon, resilient and just transition, the WTO said.
- Reducing tariffs and non-tariff measures on energy-related environmental goods could increase exports of these products by five percent by 2030, the WTO said.
Economy
Vietnam struggles to shake off its coal addiction
During the COP26 climate summit last year, the government boldly promised to end the construction of new coal plants and...
- Vietnam pledged to reach net-zero carbon emissions by 2050, but with coal and gas still a major part of its energy mix one year later, that commitment is on shaky ground
- G7 countries could announce billions of dollars in funding to help steer Vietnam away from fossil fuels and the country could attract billions more in clean energy investment
Economy
UAE to unveil its Net Zero by 2050 roadmap at COP27: Almheiri
‘The UAE is also working on a comprehensive assessment of the status and movement of sustainable financing solutions, including green...
- ‘The UAE is also working on a comprehensive assessment of the status and movement of sustainable financing solutions, including green bonds’
- ‘The country would focus on intensifying efforts to promote climate-smart initiatives to benefit the private sector, through a set of reports and evidence’
Science
‘UAE to reveal implementation map of Net Zero 2050 at COP27’
Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri said the UAE’s participation in the 27th session of...
- A UAE minister said the COP27 focuses on financing and ensuring equitable participation of developing countries in climate action efforts.
- She said the UAE will invite the world to participate in the efforts to spread and use renewable energy.
Geostrategy
Iran admits it had sent drones to Russia before the war
Iran admitted for the first time that it has sent drones to Russia, but insisted they were supplied to its...
- Ukraine and its Western allies have accused Russia of using Iranian-made drones in recent weeks to carry out attacks.
- The European Union and UK have imposed sanctions on three Iranian generals and an arms firm accused of supplying Russia with drones.
Analysis
Total broad money supply in Qatar reaches US$189bn in September 2022
The Planning and Statistics Authority (PSA) has released the 105th issue of (Qatar; Monthly Statistics) bulletin for the month of...
- One of the most prominent changes is the increase in the general index by a positive month-on-month change rate of 1.22 percent compared to August 2022.
- The largest increase was in the entertainment and culture category with 6.03 percent, compared to the previous month.
Company News
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Middle East economic growth to fall in 2023, says World Bank
WASHINGTON, US - The growth of the economies in the Middle East and North Africa (MENA) is expected to fall...
Economy
ADNOC awards two contracts for Hail and Ghasha Offshore Development project
ABU DHABI, UAE – ADNOC on Thursday announced the final investment decision (FID) and award of contracts for the Hail...
Business
Farmers turn to solar power in Syria’s former breadbasket
Al-Haddadiya, Syria - At his farm in Syria's northeast, Abdullah al-Mohammed adjusts a large solar panel, one of hundreds that have...
Business
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Business
ADNOC, Fertiglobe to pilot cost-effective modular carbon capture technology
ABU DHABI, UAE – ADNOC and Fertiglobe on Tuesday announced the pilot deployment of the world’s first cost-effective modular CycloneCC...
- The CycloneCC technology is designed to improve the economics of point-source carbon capture within industrial facilities.
- Traditional point source carbon capture technology relies on feeding gas through large absorption and stripping towers.
Geostrategy
Qatar begins construction on North Field gas expansion
RAS LAFFAN, QATAR - Qatar's state-owned energy giant began construction on Tuesday on a project to expand production from the world's...
- There has been mounting demand for Qatari gas as European consumer nations have scrambled to replace lost Russian deliveries.
- Qatari Energy Minister Saad al-Kaabi called the project a "leap towards our country's leadership in the field of energy".
Geostrategy
Oil industry is an integral part of climate solutions, says COP28 head
President of the upcoming COP28 climate talks Sultan Al Jaber, also the head of UAE state-owned oil firm ADNOC, told...
- The president of the upcoming COP28 urged oil industry leaders to curb emissions associated with energy production.
- He also encouraged them to embrace "low carbon solutions" like carbon capture and storage,