Voels, Austria -- At a laboratory in Austria's mountainous Tyrol province, scientists are DNA testing about 100 honey samples a month to learn about their composition -- and in some cases to determine whether they have been adulterated. With fake honey flooding markets, and only a few European laboratories running...

VIENNA, AUSTRIA – The OPEC Fund for International Development (OPEC Fund) is extending a US$50 million loan to Türkiye to support the agricultural and food production sectors, prioritizing 11 cities hit by the devastating earthquakes of February 2023. The Development and Investment Bank of Türkiye (TKYB) will on-lend the funds...

Brussels, Belgium - A group of EU countries including Germany on Tuesday pushed for a green light to start membership negotiations with Bosnia, but others such as France seemed reluctant to proceed. The EU's 27 leaders will debate at a summit on Thursday a proposal from the bloc's executive to launch...

Western powers will not censure Iran over its lack of cooperation with the UN nuclear watchdog at its Board of Governors meeting for fear of aggravating geopolitical tensions, diplomats said. Last week, the International Atomic Energy Agency said in confidential quarterly reports that Tehran's cooperation with the agency remained poor...

The OMV is headquartered and listed in Vienna, Austria.

The company said orders nearly doubled in mobility division.

Vienna, Austria - The OPEC Fund for International Development allocated US$1.7 billion across 55 projects globally in 2023, providing funding to address climate change and energy transition, support social and economic resilience and boost sustainable growth. The organization was established 48 years ago and the 2023 results represent a record...

Paris, France - Counterfeit products -- mainly clothes -- cost the European economy 16 billion euros a year and result in nearly 200,000 lost jobs, the EU's Intellectual Property Office said Tuesday. The findings, based on data from 2018 to 2021, show that fakes take the biggest toll on the clothing...

Vienna, Austria - Major producer Brazil will join OPEC+ from next year, the oil cartel announced on Thursday. Brazil is among the world's top 10 producers and has been the largest oil producer in Latin America since 2016. Its crude production hit a record 3.7 million barrels per day in September,...

VIENNA, AUSTRIA - The OPEC Fund for International Development (OFID) is extending a US$25.5 million loan to the Government of Benin to strengthen the technical and professional competences of the country’s workforce. The Ouidah Djougou Vocational Training Schools Project will support the transformation of the technical high schools in Djougou...

VIENNA, AUSTRIA – High-level representatives from the member states of the United Nations Industrial Development Organization (UNIDO), international organizations, experts from over 145 countries gathered here to explore solutions for moving towards net-zero and meeting the Sustainable Development Goals. The two-day International Vienna Energy and Climate Forum, which concluded on...

Hamas released a list of around 7,000 names of people in Gaza it said had been killed in Israeli strikes. The list was produced a day after US President Joe Biden said he had "no confidence" in the militant group's death toll figures. Israel says 1,400 people were killed in...

New York, US-- Kuwait's permanent envoy to the UN, Tareq Al-Bannai, has affirmed Kuwait's continuous efforts to make the Middle East a nuclear and weapons of mass destruction-free zone. The remarks were made during an event organised by Kuwait's permanent mission to the UN late Tuesday, and attended by Permanent...

Vienna, Austria--The UAE’s economy remains robust, with constant contributions from the non-oil sector, especially from tourism, leisure, and real estate, according to the OPEC’s Monthly Oil Market Report (MOMR) for October 2023. MOMR noted the UAE’s tourism sector, which accounts for more than 16% of the country’s GDP, continued to...

International Atomic Energy Agency (IAEA) director general Rafael Grossi "requests Iran to work with the agency in earnest and in a sustained way towards the fulfilment of the commitments," the agency said in a confidential report seen by AFP. Tehran in March vowed to reactivate surveillance devices which were disconnected...

Vienna, Austria - OPEC Thursday predicted world oil demand to grow by a healthy 2.2 mb/d, to 104.25 mb/d in 2024, raising its 2023 forecast to 2.4 mb/d, following an upward revision of about 0.1 mbn/d from last month's assessment. In its Monthly Oil Market Report, the global organization said...

Vienna, Austria-- Looking to ramp up trade and business relations, the United Arab Emirates has signed an air transport services agreement with Austria at the Ministry of Foreign Affairs in the capital, Vienna. The agreement, which aims to strengthen air transport relations between the two countries, was signed on behalf...

Tehran, Iran-- Iran has signed oil contracts worth $40 billion with domestic and foreign companies during the last 20 months. Speaking at the second ministerial session of the 8th OPEC International Seminar entitled “Investments, finance and inclusive petroleum growth strategies” at the Austrian capital, Iran’s oil minister Javad Owji said...

Vienna, Austria - Energy and oil ministers from the Organization of Petroleum Exporting Countries (OPEC) on Wednesday expressed support for the latest production cuts by Saudi Arabia, Russia, and Algeria. Saudi Arabia on Monday extended its voluntary production cut of 1 million barrels per day (bpd) into August, while Russia...

Oil producers are grappling with falling prices and high market volatility amid fears of global economic slowdown and the Russian invasion of Ukraine, which has upended economies worldwide.

VIENNA, AUSTRIA -  A new US$60 million loan by the OPEC Fund for International Development (OFID) and partners is expected to significantly strengthen energy security in northwest Tanzania. The project will include constructing a 166km overhead transmission line connecting the Kagera region to the national grid, replacing the current energy...

VIENNA, AUSTRIA - The Federal Authority for Nuclear Regulation (FANR) is taking part in an international conference organized by the International Atomic Energy Agency (IAEA) here. In the five-day event, which will conclude on Friday, over 500 participants from 94 countries and seven international organizations are gathering to discuss effective...

One Dane and two Austrian-Iranian citizens released from detention by Tehran arrived in their home countries, after the latest in a series of prisoner swaps. The three Europeans had landed at Melsbroek military airport just outside Brussels. They had flown there from Muscat, the capital of Oman which helped broker...

Iran released one Danish and two Austrian-Iranian citizens it had been holding after mediation by Oman, and they are being flown to Belgium, said the country's Prime Minister Alexander De Croo. This comes a week after Tehran freed a Belgian aid worker in exchange for an Iranian diplomat who was...

Vienna, Austria - Austria said on Wednesday it will ban TikTok on federal employees' work phones, joining a growing list of Western nations cracking down on the Chinese-owned social media platform due to security concerns. The decision followed advice from Austria's intelligence services and several ministry experts. Similar measures have recently...

The company reported revenues of $1.38 billion in Q1 2023.

If the company raided is guilty of antitrust violations, it risks large fines but can be granted immunity if it cooperates with the commission.

VIENNA, AUSTRIA  -  Coca cultivation hit a record high by soaring 35 percent from 2020 to 2021, a UN report showed Thursday, amid new cocaine trafficking hubs emerging in southeastern Europe and Africa. Bolivia, Colombia and Peru - which have historically dominated the production of coca leaves - altogether cultivated an...

The proceeds of the 10-year loan will be used to improve connectivity, transport, logistics, trade and to boost access to energy across the African continent.

The 15 new projects approved reflect the OPEC Fund’s launch of a US$1 billion Food Security Action Plan and the adoption of its first dedicated Climate Action Plan earlier this year.

UAE's Federal Authority for Nuclear Regulation (FANR) has recently participated in the 14th Symposium on "International Safeguards: Reflecting on the Past and Anticipating the Future", hosted by the International Atomic Energy Agency (IAEA) at its headquarters in Vienna.

Revenue doubled year-on-year to US$17.1 billion.

UAE President Sheikh Mohamed bin Zayed Al Nahyan and Federal Chancellor of the Republic of Austria Karl Nehammer met in Abu Dhabi Thursday to explore opportunities to further enhance bilateral ties in light of the Comprehensive Strategic Partnership that exists between the two countries.

This year’s publication will again be accompanied by a smart app to give increased access to the WOO’s vital analysis and energy data.

Their discoveries in the field of quantum mechanics have paved the way for quantum computers, networks and secure encrypted communication.

While Qatar feverishly seeks to complete work on hotels and apartments for the World Cup fans, its squad for the games trained on home territory for the first time in four months in a Doha stadium. The team had been kept away from the glare of media in Spain and...

SOFIA, BULGARIA - Russia's Gazprom has suspended gas deliveries to Italy's Eni, blaming a transport problem in Austria, the Italian energy giant said. "Gazprom told us that it was not able to confirm the delivery of the volumes demanded for today, citing the impossibility of gas transport through Austria," Eni...

The OPEC+ oil cartel will meet in Vienna next week for the first time since Covid curbs were introduced in 2020, the organization said.

The International Atomic Energy Agency called Tuesday for the establishment of a security zone around Ukraine's Zaporizhzhia nuclear power plant, occupied by Russia and the site of recent shelling. "The current situation is untenable," the UN atomic watchdog said in a report after it sent a team to the plant...

Iranian foreign ministry spokesman Saeed Khatibzadeh said that the country's negotiators would not return to Vienna, the site of the year-long talks to restore the nuclear deal — formally called the Joint Comprehensive Plan of Action (JCPOA) — until Washington settles outstanding issues.

The commercial exchange between Saudi Arabia and Austria has grown from around SAR 1.8 billion ($479 million) in 2005 to almost SAR 3.3 billion in 2020, while the kingdom is the export destination and the main trading partner of Austria in the Middle East. This was revealed during the visit...

The firm will construct a sustainable hydrogen production unit in the zone.

Former US president Donald Trump unilaterally withdrew from the Iran nuclear deal in 2018, and reimposed tough economic sanctions on the country, prompting it to begin pulling back from its commitments under the pact and step up its nuclear activities.

The Red Sea Development Company (TRSDC) of Saudi Arabia has partnered with an Austrian biotechnology firm, Blue Planet Ecosystems (BPE), to produce seafood, and to conduct algae production in a desert environment.

The Saudi delegation of the trade system was headed by Minister of Commerce Majid Al-Qasabi.

Oman’s Foreign Minister Sayyid Badr Hamad Al Busaidi and Brunei Darussalam’s Second Foreign Minister Dato Seri Setia Haji Erywan bin Pehin Datu Pekerma Jaya Haji Mohd Yusof met to discuss joint investments.

The meeting was held on Monday at the premises of the OCCI in Muscat.

  The agreement was previously signed between the two countries in September 2003 Both parties aim to avoid double taxation without creating opportunities for non-compliance with the tax system In order to remove all the impediments on the path of trade and investment between the two countries, the United Arab...

Austria will open border for tourists from all across the world, including GCC, from July 1 The move comes as the European country post looks to implement a post-Covid-19 strategy Austria has announced that it will open its border for tourists from all across the world, including those in the...