Stock markets diverge before Nvidia results, Federal Reserve minutes
Stock markets diverged as traders awaited earnings from US tech darling Nvidia, in addition to minutes from the Federal Reserve...Business Economy Global Markets
Strategic initiatives help UAE lead digital economy
“This economy merges national skills and technological solutions, creating an advanced model that contributes to achieving the goals of the...Economy Uncategorized
UAE Minister, IMF Director discuss challenges facing MENA
UAE Minister of State for Financial Affairs Mohamed Hadi Al Hussaini met with Director of the Middle East and Central...The minister underscored the importance of the IMF in enhancing the safety of the global economy.
He said that the IMF helps in creating a stable financial environment, especially in light of the exceptional circumstances the world is facing.
Global stocks rise on Fed optimism, zero-Covid China policy reports
Global stock markets rose as traders looked to the US Federal Reserve's interest rate decision hoping it will signal a...Recent reports have suggested officials are looking to dial down the pace of increases, which has sparked a rally in risk assets over the past week.
Positive results from multinational firms also helped lift equities.
Libya aims to double oil output by 2027: National Oil Company head
Tripoli, Libya---Libya is aiming to nearly double its oil output to two million barrels per day by 2027, the head...Farhat Bengdara said the country, which currently produces around 1.2 million bpd, was expecting revenues of "$35-$37 billion" this year.
The NOC chief was taking part in the ADIPEC energy conference in Abu Dhabi, where he also said he expected to sign an $8 billion deal with Italian major ENI.
JAHEZIYA, Enekom ink pact
Pact aims to expand railway solutions, technology in region.As per the agreement, JAHEZIYA will be Enekom’s exclusive distributor of the patented RailAcoustic Sensors in the GCC to enhance railway security.
The partnership was announced during ADIPEC, an exhibition in which the world’s energy ecosystem assemble.
UAE-US partnership to spur $100 bn clean-energy financing, development
The Partnership for Accelerating Clean Energy will see the two countries develop, finance and deploy clean projects in the US,...UAE Special Envoy for Climate Change Dr. Sultan Al Jaber and Special Presidential Coordinator Amos Hochstein signed the partnership at ADIPEC.
They will accelerate investment in fossil fuel emissions mitigation; further develop CCUS technologies and advance methane measurement and management.
ADEX signs line-of-credit pact with National Bank of Iraq
The Abu Dhabi Exports Office (ADEX), the export-financing arm of Abu Dhabi Fund for Development (ADFD), has signed a US$10...The agreement between ADEX and NBI aims to boost economic cooperation between the UAE and Iraq.
The pact adds momentum to ADEX’s effort to contribute to the economies of both countries and support the UAE’s strategy on economic diversification.
EU presidency says sanctions may next target Belarus
The Czech prime minister, whose country holds the rotating EU presidency, said the bloc may look at sanctions on Belarus...The EU has imposed sweeping sanctions against Russian industry and individuals.
Certain sanctions against Belarus are already in place, but EU can't have Belarus joining Russia's policy, says the Czech prime minister.
BP underlying Q3 profit at $8.2bn
BP, flush with cash, revealed a $2.5 billion share buyback.Profits were weaker than the second quarter due to a dip in oil prices.
BP is meanwhile seeking to pivot towards cleaner energy and away from fossil fuels.
World economy projected to more than double in size by 2045: OPEC
The global primary energy demand is forecast to continue growing in the medium and long-term, increasing by a significant 23%...The global primary energy demand is forecast to continue growing in the medium and long-term, increasing by a significant 23% in the next 23 years
Globally, oil demand is projected to increase from almost 97 million barrels a day (mb/d) in 2021 to around 110 mb/d in 2045
UN says Afghanistan poppy cultivation surges as prices rise
More than a year after it took power, Taliban has failed to curb opium poppy cultivation in the country as...According to the Vienna-based UNODC, the 2022 poppy crop was also "the most profitable in years"
The income made by farmers from opium sales more than tripled from $425 million in 2021 to $1.4 billion in 2022, the report said
