GPSSA issues circular on pensions, gratuity in UAE
ABU DHABI, UAE – The Emirates General Pension and Social Security Authority (GPSSA) has issued a circular to government and...Business Economy Geostrategy
Red Sea Global, Riyad Bank sign agreement on $522m financing
TABUK, SAUDI ARABIA - Red Sea Global (RSG) has completed a US$522 million (SAR2 billion) financing agreement with Riyad Bank,...Business Banking & Finance Economy
Sharjah Chambers discusses credit report, score for SMEs
The Sharjah Chamber of Commerce and Industry (SCCI) has hosted a webinar in cooperation with Al Etihad Credit Bureau (AECP)...The webinar discussed various topics including the comprehensive credit protection solutions provided by Al Etihad Credit Bureau.
The credit protection solutions help companies improve risk management and make the right decisions when interacting with customers.
GHD, Fraunhofer–Gesellschaft to help develop UAE hydrogen policy
The Ministry of Energy and Infrastructure (MoEI) of UAE announced that it had signed an agreement with GHD Group, in...UAE's National Hydrogen Strategy will help in formulating policies for energy-mix diversification strategies and net-zero targets by 2050.
Crucial elements must be in place for a booming hydrogen-based economy, including proper infrastructure, technological readiness and market access.
UAE to provide Germany gas, diesel under ‘energy security’ deal
As part of the deal, the UAE will provide "an LNG cargo for delivery in late 2022, to be used...The fact that we are dependent on one supplier and also dependent on its decisions will certainly not happen to us again, Scholz said.
In Qatar, the last stop on his two-day Gulf tour, the chancellor said the emirate's rights record is improving.
Saudi launches five projects to produce electricity using renewable energy
Riyadh, Saudi Arabia--Saudi Arabia has launched five new projects to produce electricity using renewable energy, which is part of the...Saudi Energy Procurement Company (the main buyer) launched the projects for competition.
These projects, with a total capacity of 3300 MW, include three projects to exploit wind energy and two projects to exploit solar energy.
German bakeries struggle to survive as costs spiral
Germany's center-left government has announced relief measures worth almost 100 billion euros to tackle inflation, but small businesses have so...The war has sent energy prices spiraling across Europe, but especially in Germany, which was previously heavily dependent on Russian gas
Many bakeries in Germany have already gone under as a result of recent cost increases, with others staging protests to demand urgent help from the government
Lebanon migrant ship death toll rises to 94
The toll has repeatedly ratcheted higher since the first bodies were found on Thursday. The United Nations High Commissioner for...At least 14 survivors were recovering in hospitals in Syria, while six others were discharged
Since 2020, Lebanon has seen a spike in the number of migrants using its shores to attempt the perilous crossing in jam-packed boats to reach Europe
TotalEnergies, Qatar ink pact
TotalEnergies to invest $1.5bn in natural gas production.Qatar Energy and TotalEnergies as partners will together work for the development of the North Field South gas project.
TotalEnergies will have 9.3 percent of the North Field South project, Qatar Energy Minister said, for which 25 percent will be reserved for foreign energy firms.
‘More efforts needed for net zero carbon emissions by 2050’
More efforts are required to make the world reach net zero emissions by mid-century, according to the International Energy Agency's...Recent technology developments and policy actions suggest momentum is accelerating in some important regions and sectors to achieve net zero by 2050.
Initial estimates point to 2022 being a record year for renewable electricity capacity additions, with an increase of about 340 gigawatts.
Dubai emerges as a driving force for a green economy
Dubai is consolidating its position as a pioneer in transitioning to a green economy to support the efforts of the...Dubai had launched an in-depth study that showed how the Emirate can achieve carbon neutrality (net zero emissions) by 2050.
The Dubai Net Zero Carbon Emissions Strategy 2050 aim to provide 100 percent energy from clean energy sources by 2050.
Dow drops to lowest level in two years as recession looms
Falling for the fourth straight session, Wall Street stocks finished lower on Friday as markets bet on the rising risk...The Dow Jones Industrial Average tumbled 1.6 percent to 29,590.41, its lowest closing value since November 2020
The drop came after the Federal Reserve Wednesday enacted a third straight interest rate increase of 0.75 percentage point
