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
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
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.
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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