WEF24: AI needs to unite public and private sector
There is a need to align AI goals between public and private sectors to balance cost reduction with job creation...Economy
OPEC Fund grants US$30m loan to Uganda to build key road link
Vienna, Austria--The OPEC Fund for International Development (OFID) has granted a US$30 million loan to support the development of a...Business Economy
ADNOC to supply natural gas to Dubai for clean energy transition
ADNOC says domestically produced natural gas is more commercially competitive compared to imported coal or gas and it will support...The natural gas will be used to generate electricity at Dubai Electricity and Water Authority (DEWA)’s Independent Power Producer Hassyan Power Complex.
The Complex was initially built to operate full-time at full load on both natural gas or clean coal but has been transformed to run only on natural gas.
Ajman Chamber, Russian delegation discuss trade ties
The Chairman of the Ajman Chamber of Commerce and Industry (ACCI) recently received an economic delegation from the Russian Federation...ACCI Chairman highlighted investment opportunities in the real estate, building and construction sectors to the Russian delegation.
The Chairman stressed Ajman Chamber's keenness to develop economic ties and attract investors to the emirate.
Germany’s third-largest gas importer seeks government aid
German gas company VNG on Friday became the latest European energy firm to seek government aid as reduced Russian pipeline...Russia has slowly dwindled supplies of gas to Europe in the wake of the invasion of Ukraine, sending prices for the fuel soaring.
Uniper, Germany's biggest importer of Russian gas, asked for government support earlier this year under the pressure of rising gas prices.
EU ministers seek ways to face energy shock
Moscow's invasion has seen the price of natural gas hit record levels, throwing the EU economy into deep uncertainty with...The European Commission, the EU's executive, will ask the ministers meeting in Brussels to consider a series of highly complex proposals designed to ease the burden
The main drive will be to find ways to compensate households and businesses that are struggling to pay their bills and keep activity going
US sanctions Iranian company that shipped drones to Russia
The US Treasury said it had placed Tehran-based Safiran Airport Services on its sanctions blacklist, two months after the White...The Treasury said Safiran has coordinated Russian military flights between Iran and Russia, including those that carried the UAVs, personnel and related equipment
The Treasury also placed sanctions on three Iranian companies involved in developing and producing drones and linked to the powerful Islamic Revolutionary Guard Corps
US launches Asia economic forum to counter China
The two-day event is the first face-to-face meeting between members of the new Indo-Pacific Economic Prosperity Framework (IPEF), an initiative...Trump's isolationist "America First" policy saw him yank the United States from the Asia-focused trade agreement called the Trans-Pacific Partnership
Washington hopes to forge common standards throughout the region, but without promoting the access to its domestic market
Gas to flow ‘in weeks’ from Israeli licensed field disputed by Lebanon
Israel says the Karish field is located entirely within its exclusive economic zone, but Lebanon insists that part of the...Israel announced in early July that it had downed three unarmed drones launched by Hezbollah towards Karish
Israel's Defence Minister Benny Gantz said late last month that any attack on its gas assets could reignite war between the two sides
UAE leads GCC towards circular carbon economy
The UAE ranks highest among GCC economies and 12th overall in the first edition of the Circular Carbon Economy Index...The UAE ranks highest among GCC economies and 12th overall in the first edition of the Circular Carbon Economy Index that focuses on energy management of the countries
While Gulf economies are pursuing individual targets to slash down on emissions, there are several opportunities for countries in the region to cooperate for joint emission goals
Real estate transactions worth US$544m at Sharjah in August
Real estate transactions in the Emirate of Sharjah totaled US$544 million (AED 2 billion) in August 2022, according to the...The total number of transactions according to SRERD records, during the past month amounted to 2,409.
Mortgage transactions amounted to 303, which is 12.6 percent of the total transactions, with a value exceeding $193 million.
DEWA programs prepare Emiratis to join the organization
Dubai Electricity and Water Authority is committed to promoting Emiratization in its various divisions by adopting an integrated strategy to...The MD & CEO of DEWA said that the percentage of Emiratization at DEWA has reached 88.14 percent in senior management.
DEWA has launched several pioneering projects and programs for the employment of Emiratis.
