Palestine sees 3.7% economic shrink amid conflict
The World Bank reports a severe economic downturn in Palestinian economy due to Israel-Hamas conflict, with Gaza's economic contribution falling...Economy
EU reaches deal to reform electricity market
The agreement will see states given the "possibility to exclusively support" the acquisition of new renewable generation, in line with...Economy
UAE announces Net Zero by 2050 strategic initiative
The national drive aims to achieve net-zero emissions by 2050, making the UAE the first MENA to do so.The national drive aims to achieve net-zero emissions by 2050, making the UAE the first MENA to do so.
The Ministry of Climate Change and Environment will lead and coordinate efforts to execute the initiative
DAFZA share of Dubai’s non-oil trade is 11% in H1 2021
In terms of re-exports, DAFZA grew 24 percent to total AED40.8 billion, representing 20.5 percent of Dubai's total non-oil foreign...In terms of re-exports, DAFZA grew 24 percent to total AED40.8 billion, representing 20.5 percent of Dubai's total non-oil foreign trade
As for commercial partners, China came in first at 30 percent with a trade value of AED23 billion
Inside Saudi Arabia’s ‘window to the world’
The memorable landmark was conceived as a minimalistic prism that rises from the ground towards the sky, symbolizing Saudi Arabia's...The memorable landmark was conceived as a minimalistic prism that rises from the ground towards the sky, symbolizing Saudi Arabia's unlimited ambitions
Visitors can also explore a giant digital kaleidoscope and an interactive digital floor at the exhibition's highlight in the 'Vision' space
Masdar to build five solar plants with a capacity of 1 GW in Iraq
Abu Dhabi-based renewable energy company Masdar on Thursday announced it will develop five solar photovoltaic (PV) projects in Iraq with...The solar photovoltaic projects will be developed in Dhi Qar, Ramadi, Mosul and Amarah areas.
Iraq, the second-largest OPEC oil producer, is aiming at 20 to 25 percent of renewables in power production.
GCC fertilizer use up in pursuit of food goals
The region is also fast adopting modern agricultural practices such as vertical farming, hydroponics, greenhouse vegetable production to grow more...Urea demand is projected to grow close to two percent per year from 2018 to 2025.
Governments are turning to the private sector to help finance desalination projects to meet water needs.
IMF board meets with Georgieva amid data manipulation probe
The investigation by law firm WilmerHale released last month found that during Georgieva’s time as World Bank CEO, she pressured...The investigation by law firm WilmerHale released last month found that during Georgieva’s time as World Bank CEO, she pressured staff into changing data to China's benefit
The World Bank has since scrapped the report that ranked nations based on their investment climate
Saudi to lift ban on Qatar’s beIN Sports: source
Saudi Arabia banned the major broadcaster, which holds the rights to the English Premier League (EPL) and other top competitions,...Riyadh was seeking to settle Qatar's $1 billion arbitration claim over pirate broadcasts to Saudi audiences by the BeoutQ network
Saudi Arabia, the United Arab Emirates (UAE), Bahrain and Egypt cut ties with Doha over allegations it supported extremists and was too close to Iran
Rise in oil prices gives strength to Gulf markets
The Muscat Stock Exchange closed on Wednesday, up 0.17%, or 6.9 points, from the previous trading session, which amounted to...International Monetary Fund expects Oman's economy to recover and grow by 2.5 percent by the end of 2021
Oman has run a US$ 2.3 bn budget deficit since the start of 2021 due to low oil prices and a drop in oil production
World Bank official for GCC says Saudi GDP to touch 3.3 percent in 2022
With an improvement in global oil demand, the World Bank has predicted Saudi Arabia’s average gross domestic product to reach...Abousleiman bullish on the expansion of the Kingdom’s non-oil sector
Oil prices are currently at a seven-year high and this week OPEC + reiterated its decision, made in July, to raise production by a modest 400,000 barrels per day in November
Natural gas market soars to record heights
Europe's reference Dutch TTF gas price hit 162.12 euros per megawatt hour and UK prices leapt to 407.82 pence per...Europe's reference Dutch TTF gas price hit 162.12 euros per megawatt hour and UK prices leapt to 407.82 pence per therm in morning deals
Soaring gas prices -- coupled with oil which has struck multi-year highs -- have fuelled fears over spiking inflation and rocketing domestic energy bills
