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Economy, Energy

‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Nord Stream 1 gas pipeline hit by leaks in Baltic Sea: authorities

OMV has withdrawn from the Nord Stream 2 gas pipeline project. (AFP)
By TRENDS Desk AFP
September 27, 2022 2:29 pm
  • The Nord Stream 1 leaks were first spotted Monday evening, hour after a drop in pressure was reported in Nord Stream 2, according to the Swedish Maritime Administration
  • As a result of the leaks, navigational warnings have also been issued for a distance of five nautical miles and a flight height of 1,000 meters
Two leaks have been identified on the Nord Stream 1 Russia-to-Europe gas pipeline in the Baltic Sea, hours after a similar incident on its twin pipeline, Scandinavian authorities said Tuesday. 
“Authorities have now been informed that there have been another two leaks on Nord Stream 1, which likewise is not in operation but contains gas,” the Danish climate and energy minister Dan Jorgensen told AFP in a statement.Following the leaks, Jorgensen said the authorities called for “higher levels of preparedness in the electricity and gas sector” in the country.

One of the leaks on the Nord Stream 1 pipeline occurred in the Danish economic zone and the other in the Swedish economic zone.

Like the leak on Nord Stream 2 the day before, the incidents are “subject to safety measures”.

The Nord Stream 1 leaks were first spotted Monday evening, hour after a drop in pressure was reported in Nord Stream 2, according to the Swedish Maritime Administration (SMA).

“Around 8:00 pm (1800 GMT) we received a report from a passing ship saying they saw something on their radar a little further north of the island of Bornholm,” Fredrik Stromback, spokesman for the SMA, told AFP.

As a result of the leaks, navigational warnings have also been issued for a distance of five nautical miles and a flight height of 1,000 meters (3,280 feet).

“The incidents on the two pipelines have no impact on the supply to Denmark,” Jorgensen said.

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