UN COP29 host Azerbaijan sees a big boom in gas production
Despite the last COP in the United Arab Emirates ending with an unprecedented call to "transition" away from fossil fuels,...
Economy
Science
COP27 must shift from talk to action says UN climate chief
The upcoming COP27 climate summit in Egypt must mark a leap from the process of hammering out a treaty to...
- Diplomats from nearly 200 countries are gathering in the Red Sea resort for the November 6-18 conference.
- The US and the European Union - fearful of creating an open-ended reparations framework - have dragged their feet.
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
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UN COP29 host Azerbaijan sees a big boom in gas production
Despite the last COP in the United Arab Emirates ending with an unprecedented call to "transition" away from fossil fuels,...
Economy
Company News
Latest News
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.