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
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.
Business
Power-starved Lebanon turns to solar energy
Lebanon's economy collapsed in 2019 after decades of corruption and mismanagement, leaving the state unable to provide electricity for more...
- Private individuals are also turning to solar to cut down on generator bills, setting up panels and batteries on balconies and rooftops
- Many Lebanese have resorted to selling a car, jeweler or a plot of land as installing the solar power is expensive in a country where poverty is rampant
Business
Ethereum blockchain to undergo ‘monumental’ overhaul
Developers have spent years working on a more energy-efficient version of the ethereum blockchain, a digital ledger that underpins a...
- Experts say the changeover, expected to take place between Tuesday and Thursday, would slash energy consumption by more than 99 percent
- The ING bank said in a recent note that the switchover might help ethereum gain acceptability among policymakers and regulators
Geostrategy
Queen Elizabeth II funeral on September 19 in London
The state funeral for Queen Elizabeth II will be held at Westminster Abbey in London at 11:00 am (1000 GMT)...
- Buckingham Palace also confirmed that the queen, who died on Thursday aged 96, will then be taken to St George's Chapel at Windsor Castle.
- The queen's coffin will be taken on a 180-mile (290-kilometre) trip by road from the remote estate to the Palace of Holyroodhouse in Edinburgh.
Science
World Green Economy Summit 2022 theme revealed
Dubai Electricity and Water Authority (DEWA) and the World Green Economy Organization (WGEO) announced that the theme of the 8th...
- The theme reflects the UAE’s vision of advancing climate action and strengthening partnerships.
- It also reflects international efforts to achieve climate goals.
Business
Stocks and oil prices rally, as dollar drops
Stock markets and oil prices rallied Friday, with investors largely pricing in more interest rate hikes aimed at taming runaway...
- The more confident mood across equity and oil markets was reflected in a cooler dollar.
- The greenback's softness came after Federal Reserve chief reasserted the US central bank's determination to keep hiking interest rates to fight prices
Business
ADNOC to supply natural gas to Dubai for clean energy transition
ADNOC says domestically produced natural gas is more commercially competitive compared to imported coal or gas and it will support...
- The natural gas will be used to generate electricity at Dubai Electricity and Water Authority (DEWA)’s Independent Power Producer Hassyan Power Complex.
- The Complex was initially built to operate full-time at full load on both natural gas or clean coal but has been transformed to run only on natural gas.
Economy
EU ministers seek ways to face energy shock
Moscow's invasion has seen the price of natural gas hit record levels, throwing the EU economy into deep uncertainty with...
- The European Commission, the EU's executive, will ask the ministers meeting in Brussels to consider a series of highly complex proposals designed to ease the burden
- The main drive will be to find ways to compensate households and businesses that are struggling to pay their bills and keep activity going
Economy
Gas to flow ‘in weeks’ from Israeli licensed field disputed by Lebanon
Israel says the Karish field is located entirely within its exclusive economic zone, but Lebanon insists that part of the...
- Israel announced in early July that it had downed three unarmed drones launched by Hezbollah towards Karish
- Israel's Defence Minister Benny Gantz said late last month that any attack on its gas assets could reignite war between the two sides
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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
Latest News
Aquaterra gets UAE contract
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
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...
Economy
Most Read
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.
Business
Iran inaugurates final phase of country’s largest gas field
The South Pars gas field is one of the world's largest natural gas condensate fields. Iran shares the gas field...
- Oil Minister Javad Owji said around 50 million cubic meters of gas will be extracted daily from phase 11 of the project "after the completion of the wells".
- Iran has the world's second largest gas reserves, after Russia, and the world's fourth largest oil reserves.