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
Geostrategy
UAE, Uruguay discuss cooperation in various fields
Speaker of the UAE Federal National Council (FNC) Saqr Ghobash discussed with Uruguay's Minister of Livestock, Agriculture and Fisheries Fernando...
- The Speaker of the Federal National Council is leading a UAE parliamentary delegation on an official visit to Latin America from September 12 to 22.
- The 10-day tour includes Brazil, Uruguay, Paraguay and Colombia and aims to promote strategic partnerships with the UAE.
Geostrategy
Germany seizes Rosneft’s subsidiaries
Berlin took control of the German operations of Russian oil firm Rosneft to secure energy supplies which have been disrupted...
- The seizures come as Germany is scrambling to wean itself off its dependence on Russian fossil fuels.
- Move covers the companies Rosneft Deutschland GmbH and RN Refining & Marketing GmbH and their corresponding stakes in three refineries: PCK Schwedt, MiRo and Bayernoil.
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.
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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
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Mega projects bet high on diversified future
This TRENDS infographic dives into Saudi Arabia’s ambitious transformation to discover how the Kingdom is reshaping its future with high...
Economy
Saudi crown prince says ready for economic partnership with BRICS
DUBAI, UAE – Saudi Arabian Crown Prince Mohammed bin Salman in a telephonic conversation with Russian President Vladimir Putin has...
Geostrategy
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Business
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...
- Brent crude rose above $90 per barrel on the news for the first time since November, while West Texas Intermediate, the main US futures contract, jumped 1.9 percent to $87.16.
- Riyadh, the world's biggest crude exporter, first announced its cut after a June meeting of the 23-nation OPEC+ alliance, which also includes Russia.
Business
UAE announces US$4.5bn in Africa clean energy investments
Speaking at a landmark climate summit hosted by Kenya, Sultan Al Jaber, who heads the government-owned renewable energy firm Masdar,...
- The minister said the investment in Africa is aimed to develop 15 GW of clean power by 2030
- As of 2022, the continent's renewable generation capacity was 56 gigawatts, according to the IREA
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