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
DEWA Q2 revenue $2bn
Business
Aramco Q2 profits drop 38%
Business
Oil prices rise on Red Sea escalation, corporate earnings season
Crude prices spiked more than four percent before ebbing somewhat after the allies launched deadly strikes following weeks of disruptive...
Geostrategy
Saudi-Finnish business forum discusses enhancing trade ties
HELSINKI, FINLAND - Heading a high-level delegation to Finland, Saudi Arabia's Minister of Commerce and Chairman of the Board of...
- The Saudi delegation was in Finland to participate in a forum organized by Business Finland in cooperation with the Federation of Saudi Chambers.
- The forum was attended by around 120 officials from the public and private sectors in the two countries.
Solar power, farming revive Tunisia school as social enterprise
Hamadi started a decade ago by gathering donations to buy 50 solar water heaters and 140 photovoltaic panels.
- Hamadi started a decade ago by gathering donations to buy 50 solar water heaters and 140 photovoltaic panels
- Chayeb, a farmer, said the Makthar model had helped his family and given his children better school meals and business skills
Economy
German industries explore investment opportunities in UAE
Some of Germany’s leading industrial companies participated in a roundtable event hosted by the UAE Ministry of Industry and Advanced...
- From the UAE side, representatives from ADNOC, Abu Dhabi Department of Economic Development, Abu Dhabi Investment Office, and TAZIZ were present.
- The delegates also discussed the future of supply chain opportunities in a post-pandemic world.
Geostrategy
Europe could face gas shortage next year, says IEA
Europe must act immediately to prevent a shortage of natural gas next year as Russia slashes deliveries in the wake...
- IEA Executive Director Fatih Birol said he would hold talks on Friday with several European governments.
- He said that Europe needs to take immediate action to avoid risks of natural gas shortage next year.
Geostrategy
UAE, Indonesia to cooperate in energy sector
UAE and Indonesia have signed a Declaration of Intent to boost economic and social development between the two countries and...
- The declaration was signed between the UAE Ministry of Energy and Infrastructure and the Indonesian Ministry of Energy and Mineral Resources.
- It was signed during a joint meeting between the two countries at the Abu Dhabi International Petroleum Exhibition Conference ‘ADIPEC 2022.
Business
BMW Q3 net profit US$3.1bn
Profit was due to high demand for pricier luxury models.
- Car deliveries were down nearly one percent over the period as the industry continues to grapple with supply chain disruptions.
- BMW said higher prices for its premium vehicles had helped deliver a solid third quarter.
Geostrategy
COP27 hot topic: Funding vulnerable nations to fight global warming
Many emerging economies least to blame for the fossil-fuel gases that stoke global warming, are also among the most exposed...
- Wealthy nations have failed to provide all of the pledged $100 billion a year to developing nations, reaching just $83 billion in 2020.
- Only a part of that -- $29 bn -- was for adaptation, which the UN Environment Programme warned in a new report was five to 10 times below the estimated needs.
Economy
UAE president, Biden meet virtually to discuss energy transition
The two leaders highlighted the just announced comprehensive UAE-US initiative to accelerate the energy transition.
- The two leaders highlighted the just announced comprehensive UAE-US initiative to accelerate the energy transition
- UAE president briefed Biden on the UAE’s funding and assistance for clean energy projects on six continents
Geostrategy
Lebanon says it has US ‘guarantees’ on Israel border deal if Netanyahu wins
Hawkish former Israeli premier Netanyahu, who on Wednesday appeared on the cusp of returning to power, has staunchly opposed the...
- Israel and Lebanon struck a US-brokered sea border agreement last month that opens up lucrative offshore gas fields for the neighbours
- US President Joe Biden had hailed the "historic" deal, which comes as Western powers clamour to open up new energy production
Business
ADNOC and Siemens Energy to develop low-carbon energy certificates
Abu Dhabi, UAE---Abu Dhabi National Oil Company (ADNOC) and Siemens Energy AG today announced plans to pilot blockchain technology to...
- The the pilot will show how much CO2 was used to make products such as Murban crude, ammonia, and aviation fuels.
- This information will be automatically recorded onto a decentralized blockchain ledger.
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
Company News
DEWA Q2 revenue $2bn
Business
Aramco Q2 profits drop 38%
Business
Latest News
DEWA commissions 200MW second unit in Al Maktoum Solar Park
Dubai, UAE - Dubai Electricity and Water Authority (DEWA) commissioned the 200MW second unit of the parabolic basin complex in...
Business
ADIPEC 2023: Energy world to ponder energy transition
Abu Dhabi, UAE - Abu Dhabi International Progressive Energy Congress (ADIPEC) 2023 begins today here to deliberate decarbonization of the...
Economy
Oil-reliant Saudi revises budget, projects deficit
The Gulf kingdom, the world's biggest crude exporter, had planned for a surplus of 16 billion Saudi riyals ($4.27 billion)...
Most Read
Geostrategy
UN conference adopts plan to reduce harmful chemicals
PARIS, FRANCE - A new roadmap to reduce the environmental risks from chemicals and waste was adopted at a United Nations...
- The plan sets out 28 concrete targets and guidelines for key sectors across the entire lifecycle of chemicals, from production to waste.
- It calls for a transition to more sustainable chemical alternatives, responsible management of chemicals in industry, agriculture and healthcare.
Economy
ADB capital reforms unlock $100bn to support Asia and the Pacific region
MANILA, PHILIPPINES - The Asian Development Bank (ADB) approved capital management reforms that unlock US$100 billion in new funding capacity...
- The expansion of available funds will be further leveraged by mobilizing private and domestic capital required to tackle the climate crisis.
- The reforms also create a Countercyclical Lending Buffer to support ADB developing member countries facing unexpected crises.
Geostrategy
US to auction three new oil and gas leases in the Gulf of Mexico
WASHINGTON, US - President Joe Biden's administration on Friday announced it would auction three new oil and gas leases in the...
- The move triggered a furious reaction from environmental groups who said the move would accelerate climate change.
- The action was denounced by advocates of the fossil fuel industry as it reduced the number of lease sales planned by previous US administration.