France flooded with applications for electric car leasing scheme
Paris, France - The French government has been flooded with applications from low-income households to lease a subsidized electric car from...
Business
Biggest fuel refinery plant of Africa begins production
Lagos, Nigeria - Africa's biggest diesel and aviation fuel refinery built by the continent's richest man has started production, the company...
Business
Business
Work on world’s largest waste-to-energy project nearly completed
Dubai, UAE - Dubai Municipality said Monday 85 percent of of Dubai Waste Management Centre (DMWC), world’s largest waste-to-energy project,...
- Once fully operational, the plant’s renewable energy, generated from treating waste, will feed the local electricity grid with 215MWh of clean energy.
- Located in Dubai’s Al Warsan, the project will convert 45 percent of the emirate’s municipal waste into renewable energy.
Infographics
UAE solar energy leader in Arab world
Arab countries are constructing solar and wind energy plants with a total capacity of 73.4 gigatons, which is nearly five...
- Renewable energy generation projects in the Arab countries will reach nearly 92 percent of the region's total targets by 2030.
- More than 12 gigatons of wind and solar energy are currently produced in the Arab region, the report said.
Market Report
Stock markets rally, as euro briefly surges
Stock markets rallied Monday, building on pre-weekend momentum as investors priced in the expectation of further interest rate hikes aimed...
- The euro surged a day after German central bank chief signaled the European Central Bank would probably continue raising its key rate.
- The European single currency rocketed more than 1.4 percent against the dollar and 1.6 percent versus the yen before trimming gains around midday.
Geostrategy
Norway skeptical about EU proposal on gas price cap
Norway, which has replaced Russia as Europe's leading supplier of natural gas, dashed the hopes of EU member states who...
- European energy ministers who met in Brussels said they were in favor of measures for combating soaring gas and electricity prices.
- European Commission has proposed a price ceiling on gas imported from Russia, several members called for a price ceiling on all gas bought by EU states.
Science
IAEA approves operational safety at Barakah Nuclear Power Plant
An International Atomic Energy Agency team of experts said the UAE's Barakah Nuclear Power Plant (NPP) had strengthened operational safety...
- The Operational Safety Review Team had concluded a five-day follow up mission to the Barakah NPP.
- OSART missions aim to improve operational safety by independently assessing safety performance against the IAEA’s safety standards.
Geostrategy
Germany regrets Iran failure to agree to nuclear deal
German Chancellor Olaf Scholz said Iran has failed to agree to proposals from European countries on reviving a deal on...
- Israel has long opposed a revival of the 2015 accord, which has been moribund since then US president Donald Trump unilaterally withdrew in 2018.
- The 2015 agreement, known formally as the Joint Comprehensive Plan of Action, gave Iran sanctions relief in return for restricting its nuclear program.
Science
UAE issues updated second NDC to reduce emission
The UAE Cabinet, headed by Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, approved...
- The new document outlines the country’s increased climate target of reducing greenhouse gas emissions by 31 percent.
- The reduction target translates into an absolute emission avoidance of 93.2 million metric tonnes of CO2e.
Geostrategy
UN urges EU against fossil fuels in energy crisis
The UN urged EU countries on Monday to continue battling climate change and not resort to more fossil fuels in...
- Moscow's invasion of Ukraine has seen the price of natural gas hit record levels, throwing the European Union economy into deep uncertainty.
- Before the war, 40 percent of the EU's gas imports came from Russia.
Economy
Dubai’s RTA releases Sustainability Report 2021
Dubai's Roads and Transport Authority (RTA) has published its seventh Sustainability Report 2021. The report showcases RTA's practices in matters...
- The report showcases RTA's practices in matters related to the environment, society and governance.
- RTA had developed a roadmap to achieve zero-emission from public transport means by 2050.
Geostrategy
Gas shortage threatens French yoghurt production
The French are big on yoghurt, behind only the Dutch in consumption per capita. It is not only a breakfast...
- Like many countries, France plans to shut off businesses first if there is not enough gas or electricity, with European nations facing the prospect of energy shortages this winter.
- French Prime Minister Elisabeth Borne warned industry leaders at the end of August that energy rationing was a risk this winter and urged them to quickly cut consumption.
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France flooded with applications for electric car leasing scheme
Paris, France - The French government has been flooded with applications from low-income households to lease a subsidized electric car from...
Business
Company News
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Aquaterra gets UAE contract
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,...
Business
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...
Economy
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...
Business
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Economy
UAE economy expected to grow by 3.5 percent in 2023, says UBS
ABU DHABI, UAE - Chief Investment Officer, Emerging Markets at UBS Global Wealth Management Michael Bolliger forecasts the UAE's gross...
- The bank's positive outlook on the UAE’s medium-term growth prospects is supported by strong demand for its oil exports and energy investments.
- The bank also expects a strong 4.5 percent expansion for the non-energy part of the economy for this year.
Geostrategy
Renewables helped save $520bn fuel costs globally in 2022: Report
In non-OECD countries, just the saving over the lifetime of new capacity additions in 2022 will reduce costs by up...
- In addition to these direct cost savings, there would be substantial economic benefits from reducing CO2 emissions and local air pollutants.
- IRENA’s Director-General Francesco La Camera said the world must add 1,000 GW of renewable power annually on average every year until 2030 to keep 1.5°C within reach.
Geostrategy
French President says change in existing world order would weaken West, Europe
PARIS, FRANCE - Attempts to change the existing world order threaten to weaken the West and especially Europe, French President...
- Emmanuel Macron said the role of the UN Security Council, International Monetary Fund and World Bank are constantly being challenged.
- Emmanuel Macron said the role of the UN Security Council, International Monetary Fund and World Bank are constantly being challenged.