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
DEWA programs prepare Emiratis to join the organization
Dubai Electricity and Water Authority is committed to promoting Emiratization in its various divisions by adopting an integrated strategy to...
- The MD & CEO of DEWA said that the percentage of Emiratization at DEWA has reached 88.14 percent in senior management.
- DEWA has launched several pioneering projects and programs for the employment of Emiratis.
Geostrategy
EU seeks closer ties with gas-rich Qatar, opens office in Doha
The European Union opened an office in Qatar on Wednesday in a sign of the Gulf state's growing influence in solving...
- Qatar is one of the world's top suppliers of liquefied natural gas and growing requests have been made by Germany and other European nations.
- The EU wants closer ties on "the energy sector, economic development, security challenges", EU council president Charles Michel said.
Economy
UAE meets 42% of Japan’s crude oil needs in July
Japan imported 81.05 million barrels of crude during July, of which 79.17 million barrels, or 97.17 percent, came from Arab...
- Japan imported 81.05 million barrels of crude during July, of which 79.17 million barrels, or 97.17 percent, came from Arab countries
- Saudi Arabia contributed 28.47 million barrels, which is 35.1 percent of the Japanese crude needs
Geostrategy
IAEA calls for security zone at Ukraine’s nuclear plant
The International Atomic Energy Agency called Tuesday for the establishment of a security zone around Ukraine's Zaporizhzhia nuclear power plant,...
- The occupation of the nuclear power plant, Europe's largest, has sparked fears of a nuclear disaster as both Russia and Ukraine trade blame for shelling the site.
- IAEA said in a report that the current situation is untenable after it sent a team to the plant.
Market Report
Stocks push higher, but yen and euro under pressure
European and US stocks rose Tuesday, but gains were capped by economic slowdown fears and central bank efforts to contain...
- European and US stocks rose Tuesday, but gains were capped by economic slowdown fears and central bank efforts to contain surging inflation.
- Frankfurt rebounded somewhat despite news that Germany's industrial orders slumped for the sixth consecutive month in July.
Erdogan blames Europe’s energy crisis on Russia sanctions
Erdogan told reporters before departing for a three-nation swing through the Balkans that European nations were "harvesting what they sowed"...
- Kremlin spokesman on Monday blamed Russia's halt of gas deliveries to Germany via the Nord Stream pipeline on "sanctions that were imposed against our country"
- Analysts believe the deal will ensure that Russia will continue to supply Turkey with gas through the TurkStream pipeline running under the Black Sea
Economy
Algeria a ‘reliable’ gas supplier: EU chief Michel
European officials have been looking to Algeria, Africa's biggest gas exporter, to fill a shortfall in supplies after Russia's invasion...
- Before the Ukraine war, Algeria provided the European Union with some 11 percent of its gas needs
- Algiers has seen a string of high-profile visitors in recent months seeking to boost exports
Geostrategy
Iran hopes to see sanctions relaxed to export gas to Europe
Tehran, Iran - Iran said Monday it hopes to see US sanctions eased or lifted to allow it to sell...
- Iran is engaged in talks with world powers to revive its 2015 nuclear deal which the US unilaterally abandoned in 2018.
- Iran has the world's second largest natural gas reserves after Russia, but lacks the infrastructure to increase its exports.
Business
ADNOC announces $548m contract for Lower Zakum field
Abu Dhabi National Oil Company (ADNOC) Monday announced the award of a US$548 million (AED2.01 billion) contract to build a...
- The award will increase the Lower Zakum field’s gas production capacity from 430 million to 700 million standard cubic feet per day.
- The project will see the construction of a new subsea pipeline that will run 85 kilometers from Zakum West Super Complex to Das Island.
Economy
Green hydrogen production in UAE to touch 5.7m tonnes in 2030
Innovative technologies to produce green hydrogen using clean and renewable energy are witnessing rapid developments and studies indicate that green...
- The UAE aims to acquire 25 percent of the low-carbon hydrogen market which is expected to reach more than $400 billion.
- The production of green hydrogen is mainly carried out through electrolysis using renewable energy sources.
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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
Aquaterra gets UAE contract
Business
Latest News
‘Global climate action brings immense optimism’
Arts & Culture
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...
Economy
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...
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...
Geostrategy
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Business
NIDC drills 195 oil wells in 2 years
Wells were drilled in onshore, offshore operations.
- The oil and gas wells were put into operation by affiliated companies of the National Iranian Oil Company.
- 13 wells were completed 201 days sooner than expected due to round-the-clock efforts of NIDC’s employees.
Business
Climate change to be discussed in Dubai COP28 meet, says Egypt minister
Cairo, Egypt - Egyptian Minister of International Cooperation Dr. Rania Al Mashat, said the 28th Conference of the Parties to...
- noted that international reports indicate that the countries in the Middle East and North Africa region are most vulnerable to climate change risks
- Al Mashat added that COP28 will see presentations on the most important results and joint action taken over a year within the National Platform for Green Projects
Economy
Jordan oil bill falls in H1 2023 compared to H1 2022, says government
AMMAN, JORDAN - The value of the Kingdom's oil bill decreased during the first half of 2023 by 15.6 percent,...
- The value of Jordan’s imports of crude oil, its derivatives and mineral oils went down in the first half of 2023, to reach about JD1.531 billion.
- In the first half of 2022, the value of imports of crude oil, its derivatives and mineral oils was about JD1.813 billion.