Methanol-powered ship to set sail for Europe’s first ‘green’ route
Rotterdam, Netherlands -- The first methanol-powered ship to ply routes between Europe's busy ports was unveiled Tuesday in Rotterdam, with shipping owners hoping to spur efforts to bring down the industry's huge carbon footprint.The Eco-Maestro, a 13,675-tonne container carrier will head off to Antwerp in the next few days, before plotting...
France warns companies might have to cut energy use this winter
The French government warned Wednesday that companies might have to reduce energy use this winter even with the country's natural gas reserves at full capacity, as Russia continues to reduce its gas exports to Europe. "The main players, government agencies and businesses, must reduce their consumption" of gas as well...
Saudi handshake fuels hope for energy-hit Europe
Mohammed bin Salman's recent Europe visit after US President Joe Biden’s trip to Jeddah suggests that KSA wants to diversify its partners amidst global uncertainties, say experts.
Istanbul Airport first in Europe with 1,327 average flights daily
Istanbul Airport ranked first in Europe in terms of the average number of daily flights during the period of July 22-28, with 1,327 flights. The Airport exceeded the French Charles de Gaulle Airport and Amsterdam Airport Schiphol by the number of flights in the mentioned period.
Algeria, Nigeria, Niger discuss gas pipeline to Europe
The Trans-Saharan Gas Pipeline (TSGP) would transport billions of cubic metres of gas some 4,128 kilometres (2,565 miles) from Nigeria in West Africa.Natural gas a weapon of war between Russia and Europe
Natural gas has emerged as a weapon of war between Russia and Europe since Moscow's February 24 invasion of Ukraine. Here is how the standoff developed:  Nord Stream 2 halted On February 22, 2022, German Chancellor Olaf Scholz says he is suspending the Nord Stream 2 pipeline project with Russia...
Ukraine says trusts UN, not Russia, in grain deal
Ukraine and Russia signed a deal on Friday to unblock grain exports and relieve a global food crisis, as a critical Russian gas pipeline to Europe reopened. However, there was no respite in the conflict on the ground, with Russian artillery on Thursday pounding Ukraine's second largest city Kharkiv, already...Russia resumes critical gas supplies to Europe via Nord Stream
Russia on Thursday resumed critical gas supplies to Europe through Germany, reopening the Nord Stream gas pipeline after 10 days, but uncertainty lingered whether the continent could avert an energy crisis this winter. "It's working," a Nord Stream spokesman said, without specifying the amount of gas being delivered.Record-breaking temperature leaves Europe in discomfort
A fierce heatwave in western Europe has left much of the continent wilting under a scorching sun, feeding ferocious wildfires and threatening to smash more temperature records on Tuesday.
European Union seeks to double gas import from Azerbaijan
Azerbaijani President Ilham Aliyev said last week that "an important document on energy security will be signed between the European Union and Azerbaijan".
Equities climb up on back of high US consumer spending
Stocks soared Friday after retail sales data showed that US consumers continue to spend more in the latest signal of the economy's resilience despite high inflation and rising interest rates. Wall Street pushed higher on a better-than-expected 1.0 percent rise in retail sales in June.European stocks fall on fears of aggressive Fed interest rate hike
Europe's main stock markets slid at the open on Thursday, as a fresh spike in US inflation reinforced expectations of more aggressive Federal Reserve interest rate hikes. In initial deals, London's FTSE 100 index lost 0.3 percent to 7,138.54 points compared with the closing level on Wednesday. In the eurozone,...
Twitter down for short period in US, Europe, restored later
Twitter experienced a widespread but seemingly brief outage in the United States and parts of Europe on Thursday. The Downdetector website showed that outage reports spiked in the United States around 1200 GMT, while users reported service interruptions in France and elsewhere.Brent oil closes under $100/barrel for first time since April
Brent oil futures closed Tuesday under $100 a barrel for the first time in three months as recession worries cloud the near-term outlook for crude demand. The contract for the international oil benchmark for September delivery tumbled 7.1 percent to $99.49 a barrel as the market focused on worries about...Oil prices drop below $100 on recession worries
Recession worries pushed the price of Brent oil briefly back under $100 on Wednesday, and the euro moved closer to parity with the dollar. European stocks rebounded thanks to lower bond yields and bargain hunting, while US stocks also advanced, climbing after Federal Reserve minutes maintained a tough line on...European stocks surge Monday after nosediving last week
Europe's stocks recovered somewhat Monday as investors tentatively regained some optimism following the heavy losses in the financial markets last week on fears that rising interest rates could spark recession. London stocks won 1.1 percent at midday, while Frankfurt and Paris gained 0.5 percent and 1.0 percent respectively in afternoon...Europe revives Syria phosphate imports, profiting Russian firm
Syrian phosphates used for fertiliser are being exported to Europe in bulk, benefitting a Russian firm and the sanctions-hit Damascus regime, a report said Thursday. Italy, Bulgaria, Spain and Poland are among the EU states receiving Syrian phosphates, according to the report by a consortium of investigative journalists led by...Iran remains hopeful of nuclear deal with major powers
The US, meanwhile, says it is "disappointed" that there is "no progress made" after two days of indirect talks with Iran brokered by an EU envoy in Doha. President Joe Biden's administration has "made clear our readiness to quickly conclude and implement a deal on mutual return to full compliance".Expanding NATO squares up to Russia as Putin slams ‘imperial’ alliance
The United States vowed to reinforce Europe's defences in the wake of Russia's invasion of Ukraine, as NATO declared Moscow the West's greatest threat -- prompting Vladimir Putin to lash out at the alliance's "imperial ambitions". Meeting in Madrid Wednesday, NATO leaders said Russia "is the most significant and direct...Equities in Asia and Europe tank on recession fears
Fears of a recession caused by sharp interest rate hikes aimed at fighting soaring inflation sent Asian and European markets tumbling Wednesday, tracking a sharp drop on Wall Street. The Conference Board's chief economist Dana Peterson warned the United States will likely see a recession in late 2022.
UAE: a trendsetter in regulating cryptocurrency market
The UAE, Japan and Singapore have emerged as the trendsetters in regulating the crypto-currency market effectively, according to a top European academic.Free of travel curbs, GCC residents fly away for a break
In spite of high inflation, residents of the GCC countries are seeking newer destinations in Europe and beyond to travel to, Trupt Shah of Musafir.com tells TRENDS.
Inflation poses new challenges to Middle East, GCC
The global inflation wave -- affecting the US, EU and China and spreading to the Gulf countries -- is forcing common people to look for solutions away from the govt actions.European equities retreat before US inflation data
European stock markets retreated at the open Friday following losses in Tokyo, with all eyes on US inflation data and its impact on the outlook for interest rate rises. London's benchmark FTSE 100 index dropped 0.5 percent to 7,442.31 points.
Iran disconnects cameras at nuclear sites as IAEA set for censure vote
IAEA head Rafael Grossi told reporters on Monday that it would be "a matter of just a few weeks" before Iran could get sufficient material needed for a nuclear weapon if they continued to develop their program.
Huge Europe-Morocco migration begins after Covid hiatus
Morocco on Sunday begins welcoming an influx of its citizens living in Europe after the pandemic led to a halt in what has been called one of the world's biggest cross-continental migrations. The last such effort in the summer of 2019 saw 3.3 million people and more than three quarters...
More than 70 migrants missing after boat sinks off Tunisia: coastguard
More than 70 people are missing in the Mediterranean after a boat crowded with migrants headed for Europe from Libya sank off neighbouring Tunisia, the coastguard said Wednesday. The boat, which was carrying around 100 people when it put to sea, capsized off the Tunisian port of Sfax, with coastguard...Qatar emir visits Spain as European Union eyes gas alternatives
Qatar's emir began a state visit to Spain on Tuesday as Europe seeks to diversify its natural gas supply sources to reduce its energy dependence on Russia. Sheikh Tamim bin Hamad Al-Thani was welcomed by King Felipe VI at Madrid's royal palace at the start of his two-day visit, his...
GCC IPOs raise $4.8bn in 2022, outpacing Europe
May Nasrallah, founder of deNovo, tells TRENDS the new listings on GCC bourses have spawned a new chapter in regional listings, ending years of drought.Wheat prices hit record high after Indian export ban
Wheat prices surged to a new record high on Monday after India decided to ban exports of the commodity as a heatwave hit production. The price jumped to 435 euros ($453) per tonne as the European market opened. Global wheat prices have soared on supply fears since Russia's February invasion...
Sanctions-hit Iran considering gas exports to Europe: official
Iran is considering the possibility of exporting gas to Europe, an oil ministry official said Sunday against the backdrop of soaring energy prices due to Russia's war in Ukraine. "Iran is studying this subject but we have not reached a conclusion yet," deputy oil minister Majid Chegeni was quoted as...
EU hikes military aid for Ukraine as NATO expansion faces roadblocks
Europe pledged another half billion dollars in military support for Kyiv on Friday as Sweden and Finland's moves toward joining NATO hit multiple hurdles. Moscow said it would cut off electricity to Helsinki, and the president of Turkey expressed opposition to the Scandinavian countries becoming part of NATO.
Finland poised for NATO membership as Ukraine war crimps Russian gas
Finland took a step Thursday towards fast-track NATO membership, triggering a blunt warning from the Kremlin, as the war in Ukraine throttled supplies of Russian gas to Europe and the number of people who fled the country passed six million. In Geneva, the UN Human Rights Council decided to probe...Russian gas to Europe via Ukraine down by almost a third
Ukraine is a major supply route for Russian gas to Europe and the two sides have kept flows going even after the Kremlin sent troops into Ukraine on February 24
France says EU deal on Russia oil embargo possible this week
The embargo on Russian oil, which is part of a sixth package of EU sanctions under discussion, is being resisted by some member states that rely on Russian oil to keep their economies running and are seeking guarantees of alternative sources.
France’s Macron wins new term
Macron is the first French president to win a second term for two decades, but Le Pen's result also marks the closest the far-right has ever come to taking power in France and has revealed a deeply divided nation.
Losing Russian energy would weigh on Europe’s economy: IMF official
Europe can get by without Russian gas for six months, but beyond that, the economic impact would be severe, a senior IMF official told AFP. The region relies on Russia for the vast majority of its energy needs, especially natural gas, and IMF economists looked at the economic cost of...Hopes down for Easter truce in Ukraine as Russia presses on
Russian forces, which withdrew from around Kyiv and the north of Ukraine earlier this month after being frustrated in their attempts to take over the capital, already occupy much of the eastern Donbas region and the south.DP World gross volume up 1.9 percent
Qingdao (China) and Sokhna (Egypt) among strong performers.Europe energy market: Will Qatar replace Russia?
The United States has asked Qatar to supply gas to Europe if Russian supplies were disrupted due to Moscow's military operation in Ukraine and the consequent Western sanctions.
France urges cooperation with Algeria after Russia-Ukraine crisis
France and Algeria have been attempting to improve their ties after a diplomatic crisis.
From Denmark to Portugal, Europe ups effort to quit Russian gas
In Denmark, large black pipes are about to be buried in a muddy trench, as construction of a gas pipeline from Norway to Poland resumes following Russia's invasion of Ukraine. From plans for liquefied natural gas terminals in northern Germany, Finland and France to potential new routes through Spain and...Italy PM in Algeria seeking gas to reduce Russia reliance
Italian Prime Minister Mario Draghi arrived in gas powerhouse Algeria on Monday as Rome steps up efforts to reduce its heavy reliance on Russian energy imports. Italy buys the vast majority of its natural gas from overseas, with over 40 percent of those imports coming from Russia. But the war...
Abu Dhabi launches drive to keep infected Kinder products away
The Abu Dhabi Agriculture and Food Safety Authority (ADAFSA) has said that the Abu Dhabi's markets are completely free of Kinder products suspected of being linked to food poisoning in a number of European countries due to salmonella infections. In a statement, ADAFSA explained that as soon as they receive...EU passengers can claim compensation for delays even outside Europe
EU travelers who book flights through a European airline can claim compensation in the event of a major delay of the connecting flight -- even outside Europe, a court ruled on Thursday. In its judgement, the European Court of Justice said that the entirety of a journey that was subject...
Moscow gas threat as NATO warns Russians ‘regrouping’ in Ukraine
Russia threatened Thursday to turn off its gas taps to Europe if the continent fails to pay in rubles, opening up a new front amid its war in Ukraine, where NATO and Kyiv warned that Russian troops were regrouping for new attacks. Over a month into Russia's invasion of its...
Riyadh, Dubai lead IPO surge in GCC
For the second time since the global financial crisis, the Middle East has surpassed Europe in terms of IPOs as regional investors seek liquidity from increased oil prices.
Oil prices, stocks higher after EU snubs Russia ban
European stocks, which had been firmly higher earlier in the session, ended the day with only modest gainsShip rescues 128 migrants, finds two dead In Mediterranean
Migrants from African countries ravaged by war and poverty, make desperate bids to reach Europe through Mediterranean sea which is the world's deadliest migration route.
The scientists helping farmers kick the chemical habit
Researchers are considering a mutual fund to compensate farmers in the event of losses linked to the reduction of synthetic fertilizers and pesticides.
Biden heads to Europe to bolster West’s unity, toughen Russia sanctions
President Joe Biden leaves Wednesday for Europe on a mission to bolster Western unity, ramp up unprecedented sanctions against Russia over its invasion of Ukraine and attempt to upset the post-Cold War balance of power. The conflict with Russian President Vladimir Putin is redefining Biden's 14-month old presidency as he...
