Price of natural gas in Europe falls to a 3-year low
LONDON, UK – The price of natural gas in Europe fell again on Friday, taking it to its lowest in almost...Business Economy Energy Geostrategy
UAE’s economy rides on tech and renewable energy
"The UAE's dedication to innovation and international partnerships as vital to enhancing its position on the global economic stage, bolstering...Economy
Siemens posts Q4 profit of $3bn
Firm posts FY 2021-22 net profits of around US$4.6 billion.Siemens Energy's loss-making wind turbine maker subsidiary, Siemens Gamesa, has faced huge struggles.
Siemens Energy was spun off in 2020 from Siemens, which still owns a 35 percent stake.
Travel-weary Saudi superfan awaits World Cup at ‘home’
Saudi officials are putting on 240 weekly flights linking the kingdom to Qatar, up from six normally, and easing overland...This year's World Cup in neighboring Qatar, by contrast, has the feel of a home game for Saudi fans as Doha is a mere two-hour flight from Jeddah
Turkistani, a Saudi fan is ready to welcome his other fellow citizens in Doha, having stocked up on green-and-white t-shirts, plastic blowhorns, drums and balloons to distribute
Ukraine grain deal extended ‘under current terms’: Turkey
Ukraine is one of the world's top grain producers, and Russia's invasion of the country blocked 20 million tons of...The agreement would be in force for "120 days considering the winter conditions", and there could be "new arrangements" after the winter season
An international source close to the negotiations also confirmed to AFP that the parties concerned agreed to extend the deal
Israel’s Q3 growth slows due to weaker consumer spending
The gross domestic product increased 2.1 percent annually between July and September compared to the previous three months.The gross domestic product increased 2.1 percent annually between July and September compared to the previous three months
The annual inflation rose to 5.1 percent in October from 4.6 percent in September, well above an official 1-3 percent target, the statistics bureau said on Tuesday
EU pledges US$1bn in climate funding for Africa
The initiative, launched at UN climate talks along with France, Germany, the Netherlands and Denmark, will combine "existing and new"...The funding also includes an EU pledge of $60 million for climate "loss and damage" already being suffered, a contentious issue at the negotiations in Egypt
It will cover the collection of climate risk data, boosting early warning systems, disaster risk finance and insurance, as well as helping to attract private finance
Beyond Oil and Gas Alliance struggles to enlist new members
The alliance had committed to phasing out oil and gas production when it was launched at UN climate talks in...At COP27 talks in Egypt, Fiji and Chile sign up as "friends" of the alliance, while the US state of Washington joins as a core member
BOGA says it has managed to attract new partners despite the global energy crisis which has seen a rush towards oil and in particular gas
GCC growth may slow down in 2023 and 2024
The regional economies -- set to expand by 6.9 percent in 2022 -- may moderate to 3.7 percent and 2.4...The regional economies -- set to expand by 6.9 percent in 2022 -- may moderate to 3.7 percent and 2.4 percent in 2023 and 2024 respectively, says a World Bank report
Easing of pandemic restrictions and positive developments in the hydrocarbon market drove strong recoveries in 2021 and 2022 across the GCC, the report points out
ADIB, ADGM to support growth needs of Abu Dhabi financial community
Abu Dhabi, UAE -- Abu Dhabi Islamic bank (ADIB) and Abu Dhabi Global Market (ADGM) will collaborate to support the...ADIB will provide clients with ADGM licensed managers for Sharia compliant banking and share news on developments in finance sector.
Also, a formal framework for cooperation in education, business development between the Bank and ADGM is also a part of the deal.
UK inflation jumps to 41-year high on soaring energy and food bills
Domestic fuel bills rocketed further despite the UK government's energy price freeze as the market faced fresh fallout from key...The Consumer Prices Index hit 11.1 percent in October, reaching the highest level since 1981, the Office for National Statistics (ONS) said.
"Rising gas and electricity prices drove headline inflation to its highest level for over 40 years, despite Energy Price Guarantee," said ONS chief economist Grant Fitzner.
Russia now routes oil through Turkey to reach EU
The 27-nation bloc has also placed an embargo on Russia coal. While it has not banned natural gas imports from...The EU will ban most imports of Russian crude oil next month
Ankara has increased imports of Russian crude since the Ukraine invasion in late February, the think tank said
