Clean energy largest driver of Chinese GDP growth in 2023: report
China is the world's biggest emitter of greenhouse gases driving climate change, but it is also the top producer of...
Saudi Arabia to highlight role in dealing with global challenges at WEF meet
RIYADH, SAUDI ARABIA – Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef said that the Kingdom’s participation in the...
Economy
Business
DEWA smart meters’ number up 73% in four years
Dubai, UAE---Dubai Electricity and Water Authority (DEWA) recorded a growth in the number of smart water meters by 73.6 percent...
- DEWA has more than two million smart electricity and water metres in Dubai.
- Automating metre readings helps customers receive instant information on their consumption patterns and effectively manage, monitor and control their consumption.
Business
Shell says CEO stepping down at end of 2022
The outgoing CEO, 64, has presided over a tumultuous time at the energy titan, weathering collapsing oil prices in 2020 as...
- The outgoing CEO, 64, has presided over a tumultuous time at the energy titan, weathering collapsing oil prices in 2020 as Covid lockdowns ravaged demand
- Under his tenure, Shell last year simplified its name and structure and outlined plans to slash greenhouse gas emissions
Geostrategy
ENEC shares expertise at cyber energy leadership forum
The Emirates Nuclear Energy Corporation (ENEC) hosted the first edition of the CyberEnergy Leadership Forum (CELF) in Abu Dhabi. Over...
- The one-day forum featured a leadership briefing, followed by a technical forum hosted by ENEC and the United States Department of Energy
- ENEC is a leading entity that is spearheading cyber security in the UAE’s clean energy sector
Business
How the tide turned on promising data centers in Europe
Energy-guzzling Data centers or bit barns across Europe are facing the heat because of energy shortage sparked by the Ukraine-Russia...
- The industry sucked up 14 percent of Ireland's power last year, while Amsterdam said it simply had no more room for the warehouses.
- Some question whether data centres were the best target for criticism when cryptocurrencies were so wasteful.
Business
Rosneft H1 net profit up 13%
The energy giant's H1 net profit rose to $7.2 billion.
- Having processed 45.8 million tonnes of oil this semester, Rosneft said its debt decreased by 12 percent from the beginning of the year.
- The company' revenues increased by 32.5 percent, reaching $86.7 billion.
Business
Ford unveils newest Mustang, extending gasoline-powered life
The 50-minute event culminated with the arrival of three sleek new sedans in different trims and, later, a fourth option,...
- The big reveal had been teased for months by company officials and organized as a celebration of the 58-year-old model
- The event, organized for Ford employees and Mustang mavens, featured pulsating music, slickly produced videos on wide screens and a light projection of the brand's horse logo
Geostrategy
Drop in German investors confidence sparks recession fear
BERLIN, GERMANY - German investor confidence fell in September for a third straight month, a closely watched survey showed on...
- The ZEW institute's economic expectations index dropped 6.6 points from the previous month to minus 61.9 points.
- For its survey, ZEW quizzes experts about the current economic situation and the outlook for the coming six months.
Geostrategy
India to invite UAE as ‘guest country’ at G-20 Summit
India, the incoming President of the Group of Twenty (G-20) announced that it will invite the UAE as one of...
- The G-20 accounts for 85 percent of global GDP, 75 percent of international trade and two-thirds of the world population.
- This is the first of a series of announcements being made by India preparatory to its assumption of the G-20 Presidency on December 1, 2022.
Geostrategy
High-level UAE economic delegation visits Georgia
A UAE economic delegation led by Minister of State Ahmed Ali Al Sayegh visited Tbilisi, Georgia.
- UAE-Georgian economic relations have witnessed remarkable development in recent years.
- Total non-oil trade between UAE and Georgia in 2020 and 2021 grew by 52 percent to reach US$223 million.
Economy
Saudi Arabia launches three new iron and steel projects
An integrated iron sheet production complex with a capacity of 1.2 million tonnes per year is one of the projects.
- An integrated iron sheet production complex with a capacity of 1.2 million tonnes per year is one of the projects
- A factory will also be established to produce circular iron blocks with an estimated production capacity of one million tonnes per year
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Clean energy largest driver of Chinese GDP growth in 2023: report
China is the world's biggest emitter of greenhouse gases driving climate change, but it is also the top producer of...
Company News
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Oil, gas sector emission pledges stalling: report
According to Carbon Tracker, the weakest emissions reductions commitments came from US major ExxonMobil and five majority state-owned oil firms:...
Saudi Arabia and Russia extend oil cuts, Brent crude price up
The Saudi production cut of one million barrels per day which first took effect in July will continue "for another...
Business
Most Read
Economy
G20 per capita coal emissions growing: research
According to the research published by Ember, an energy thinktank that pushes for renewable power, per capita G20 coal emissions...
- Countries such as Britain, Germany and the United States were able to significantly decrease per capita emissions
- But at the same time, other countries, including G20 host India, Indonesia and China, all saw their emissions rise
Business
Improving power situation in Libya brightens life
Till last year, outages could last 20 hours, turning the streets dark and leaving residents sweltering in temperatures above 40...
- Chronic electricity shortages had shaped the daily lives of Libyans since the fall of Moamer Kadhafi in a NATO-backed 2011 uprising.
- A decade of stop-start fighting between rival groups followed, adding combat damage and looting to the dilapidated grid in Libya.
Economy
Oil prices climb to highest level in seven months on supply fears
Dubai, UAE--Oil prices rose to their highest in over half a year and snapped a two-week losing streak, buoyed by...
- Russia's Deputy Prime Minister Alexander Novak said on Thursday that his country has agreed with OPEC+ to cut oil exports next month
- The International Energy Agency and OPEC are relying on China, the world's largest oil importer, to shore up oil demand over the rest of 2023