Several nations eager to join Charter of Cooperation, says OPEC Secretary-General
ABU DHABI, UAE - Secretary-General of the Organization of Petroleum Exporting Countries Haitham Al Ghais said that OPEC is in...
Business
EU seeks 90 percent drop in greenhouse emission by 2040
Strasbourg, France - The EU on Tuesday urged a 90-percent cut to its greenhouse gas emissions by 2040, even as the...
Geostrategy
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.
Science
FANR highlights its robust nuclear safeguards regime
UAE's Federal Authority for Nuclear Regulation (FANR) has recently participated in the 14th Symposium on "International Safeguards: Reflecting on the...
- The symposium in Austria aims to reflect on the experience gained and lessons learned over the past six decades of implementation of nuclear safeguards.
- It also tries to verify that member states are honoring their international legal obligations to use nuclear material and technology only for peaceful purposes.
Business
Awareness campaign of DEWA digital services ends
Dubai Electricity and Water Authority (DEWA) has successfully concluded its awareness campaign among customers about its innovative digital services on...
- The campaign provided guidelines and advice through DEWA's social media and internal and external channels.
- This helps customers make smart decisions to manage their consumption and benefit from DEWA's advanced digital services and initiatives.
Geostrategy
G7 calls on oil-rich countries to up production for taming price rise
Increasing production should help "decrease volatility in energy markets" caused by the war in Ukraine, G7 foreign ministers said in...
- The G7 also said it intends to finalise "in the coming weeks" the implementation of a Russian oil price cap mechanism.
- Rising prices for energy in the wake of the Russian invasion of Ukraine, have driven a global surge in inflation and weighed on economic activity.
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Several nations eager to join Charter of Cooperation, says OPEC Secretary-General
ABU DHABI, UAE - Secretary-General of the Organization of Petroleum Exporting Countries Haitham Al Ghais said that OPEC is in...
Business
Company News
Latest News
Oil prices spike as Hamas attack on Israel fuels supply fears
The attack and Israel's declaration of war in response to it have raised concerns that a potential broadening of the...
Economy
Saudi Arabia launches mechanism to advance global climate goals
RIYADH, SAUDI ARABIA - The Clean Development Mechanism Designated National Authority (CDMDNA) announced on Monday the operation of Saudi Arabia's...
Geostrategy
OPEC sees no peak in global oil demand on the horizon
In its 2023 annual report, the Organization of the Petroleum Exporting Countries forecasts demand for crude to reach 116 million...
Geostrategy
Most Read
Geostrategy
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,...
- The signing took place during the Middle East and North Africa Climate Week 2023 in Riyadh, Saudi Arabia.
- The MoU was signed by Saudi Arabia’s Minister of Energy and India’s Minister of Power and New and Renewable Energy.
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...
- The initiative is part of the Year of Sustainability and UAE's preparations for hosting the Conference of the Parties COP28.
- The initiative aims to strengthen the UAE's role in leading global action and contribute to international efforts to achieve the 43% emission reduction target by 2030.
World can’t ‘unplug’ existing energy system: COP28 head
Riyadh, Saudi Arabia - The president of the upcoming COP28 climate talks in Dubai called on Sunday for governments to abandon...
- Climate activists have criticized the appointment of Jaber to lead the COP28 talks which kick off in Dubai next month, given that he is also head of the oil firm ADNOC.
- But Jaber has garnered the support of COP parties including US climate envoy John Kerry, partly by emphasising his belief that "the phase-down of fossil fuels is inevitable."