EU worried Red Sea attacks could spark inflation
European Union economy commissioner Paolo Gentiloni warned that violence in the Red Sea sparked by Houthi attacks on shipping could...
Geostrategy
Oil prices rise after US, UK strike Houthi rebels
Oil prices surged four percent after US and UK forces launched strikes against Iran-backed Houthi rebels after attacks on ships...
Market Report
Geostrategy
In risky recycling venture, Gazans burn plastic for fuel
It's an economic and practical solution in a territory blockaded by Israel for 15 years, but one which poses serious...
- In Gaza, where exchanges of fire between Palestinian militants and Israel for three days this month killed at least 49 Palestinians, health risks are outweighed by economic reality
- Unemployment has hit 47 percent and the average daily wage is around 60 shekels ($18), according to the Palestinian Central Bureau of Statistics.
Geostrategy
Iran urges IAEA to end undeclared nuclear sites issue
The United States remains adamant that Tehran cooperate with the International Atomic Energy Agency to clear up suspicions about earlier...
- Iran came back last week with a series of proposed changes, to which the United States formally responded on Wednesday, a day after Tehran accused its arch-enemy of stonewalling
- The 2015 agreement between Iran and six world powers Britain, China, France, Germany, Russia and the United States gave the Islamic republic sanctions relief in exchange for curbs
Economy
In risky recyling venture, Gazans burn plastic for fuel
It's an economic and practical solution in a territory blockaded by Israel for 15 years, but one which poses serious...
- Burning plastic releases dioxins, mercury and other toxic gases which pose a threat to vegetation, human and animal health
- Since 2007, when Hamas seized control of the Gaza Strip, Israel has severely restricted the flow of people and goods in and out of the coastal enclave
Economy
European gas prices approach record peak on Russian supply fears
Europe's benchmark Dutch TTF gas contract advanced to 318 euros per megawatt hour before paring gains. That was not far...
- Prices have spiked in recent days as a three-day halt in Russian deliveries to Germany via the Nord Stream 1 pipeline approaches.
- One-year forward contracts for electricity prices in both France and Germany surged on Thursday to record pinnacles on worries over a winter energy crunch.
Economy
ENEC hosts top performing students from Al Dhafra region
The Emirates Nuclear Energy Corporation (ENEC) has hosted a recognition ceremony at the Barakah plant for top-performing students from the...
- The hosting of students reflects ENEC's stand to provide UAE youth with skills to become future leaders of the nation's growing nuclear energy sector.
- The event include an educational tour for students to visit Barakah Plant, the first multi-unit operational nuclear plant in the Arab World.
Geostrategy
Jordan’s power supply to West Bank doubles after Jordan Valley plant’s upgrade
Jordan's Prime Minister emphasized that the project reflects Jordanian commitment to assist in laying the foundation for an independent Palestinian...
- Jordan's Prime Minister emphasized that the project reflects Jordanian commitment to assist in laying the foundation for an independent Palestinian state
- He added that Jordan is doing everything possible to safeguard the historical and legal status of Al-Aqsa Mosque and Al-Haram Al-Sharif
Business
Kuwait raises oil production to meet growing demand
The increased production is consistent with announcements made by Kuwait Petroleum Corporation.
- The increased production is consistent with announcements made by Kuwait Petroleum Corporation
- Kuwaiti oil minister Dr Al Faris said that Kuwait will continue to support efforts to promote market stability
Economy
Two new solar projects to double Qatar’s renewable energy output
Qatar on Tuesday announced two major solar projects that will more than double its energy output from the renewable source...
- The plants at Mesaieed and Ras Laffan will take Qatar's solar output to 1.67 gigawatts by the end of 2024, Qatar Energy said in a statement.
- South Korean conglomerate Samsung will lead construction of the new solar plants, with an initial investment of more than $600 million.
Business
DEWA breaks own record for overhaul of gas turbines
Dubai Electricity and Water Authority (DEWA) has announced breaking its own world record in major inspection outage duration for the...
- DEWA has reduced the maintenance outages for critical inspection operations from 11 days to nine days.
- There is a reduction in the maintenance duration of 84 percent compared to 2006.
Geostrategy
Sadr supporters begin sit-in outside top Iraq judicial body
Several hundred supporters of Shiite cleric Moqtada Sadr launched a sit-in outside Iraq's top judicial body on Tuesday, ratcheting up...
- On August 10, Sadr gave the Supreme Judicial Council one week to dissolve parliament to end the political deadlock
- Last week, caretaker Prime Minister Mustafa al-Kadhemi convened crisis talks with party leaders, but they were boycotted by the Sadrists
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EU worried Red Sea attacks could spark inflation
European Union economy commissioner Paolo Gentiloni warned that violence in the Red Sea sparked by Houthi attacks on shipping could...
Geostrategy
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Over 113 Emirati projects in Ethiopia, trade exceeds $6bn, says UAE envoy
ADDIS ABABA, ETHIOPIA - UAE Ambassador to the Federal Democratic Republic of Ethiopia Mohammed Salem Al Rashidi said that the...
Geostrategy
‘Fuel of the future’: Gulf states bet on ‘green’ hydrogen
The investment in green hydrogen has not curbed expansion in oil and gas, with both the UAE and Saudi Arabia...
ACWA Power is preferred bidder for DEWA’s Hassyan Seawater Reverse Osmosis plant
DUBAI, UAE - MD and CEO of Dubai Electricity and Water Authority (DEWA) Saeed Mohammed Al Tayer said on Wednesday...
Business
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Business
ADNOC, Tabreed say breakthrough in project to harness geothermal energy
ABU DHABI, UAE – ADNOC and the National Central Cooling Company (Tabreed) on Monday announced a breakthrough following the conclusion...
- The landmark project, the first in the Gulf region, is set to decarbonize the cooling of buildings in Masdar City.
- The project will further diversify the UAE’s energy mix and support the National Energy Strategy 2050.
Geostrategy
Saudi Arabia, France vow to promote secure, affordable and sustainable energy
RIYADH, SAUDI ARABIA – Prince Abdulaziz bin Salman and Agnes Pannier-Runacher, Minister for Energy Transition of the French Republic met...
- Addressing climate change, promoting secure, reliable, affordable, sustainable supplies of energy are shared strategic priorities of Saudi Arabia and France.
- Both countries acknowledge the importance of implementation of the United Nations Framework on Climate Change and the Paris Agreement.
Business
DEWA picks bidder for 1,800MW phase of Al Maktoum Solar Park
Dubai, UAE -- In a step towards its clean energy ambitions, the Dubai Electricity and Water Authority (DEWA), has announced...
- Designed to be the world's largest single-site solar park, it is projected to boast a remarkable capacity of 5,000MW by 2030, with an investment infusion totaling AED 50 billion.
- The upcoming 1,800MW 6th phase is anticipated to catapult the cumulative production capacity to 4,660MW as additional 433 MW capacity is currently under construction.