Company Insights Dubai Electricity and Water Authority (Dewa) Energy Dubai Electricity and Water Authority (Dewa) News Banking & Finance Dubai utility provider approves $1.3bn dividend payout Shareholders of state-owned utility provider Dubai Electricity and Water Authority (Dewa) have approved the payment of total dividends of AED4.77 billion ($1.30 billion) as of April 20, 2023. The 12-month dividend yield for shareholders stands at 6.3 percent, considering the IPO price of AED2.48 per share, state-run WAM news agency reported Shareholders must be on […] April 11, 2023 Neom Renewable energy desalination is the way forward for GCC states Projects in the Middle East are seeking to increase their use of renewable energy desalination amid criticism of the traditional process as being high-cost and energy-intensive. The Mena region is expected to add an estimated 20GW of solar capacity and 5-6GW of wind by 2025, and the use of these sources is increasingly coming to […] March 28, 2023 Opinion Renewable Energy How Mena’s infant solar boom is affected by rising costs Solar power remains attractive despite new challenges March 20, 2023 Markets Profits of 123 Emirates-listed companies at $52bn in 2022 The net earnings of 123 UAE-listed companies reached AED191 billion ($52 billion) in 2022, indicating their strong financial position and healthy revenue growth. The net profits of listed firms increased by 60 percent, or AED72 billion, last year, according to a state-owned Emirates News Agency (WAM) report. Out of the total earnings, nearly 77 companies […] February 20, 2023 Analysis Energy Sunny times ahead for Gulf’s solar market Developers are making the most of an expanding pool of public tenders for the Gulf’s solar market, with the UAE and Saudi Arabia leading the way. Experts said the sector was in a healthy state despite the coronavirus pandemic and war in Ukraine curbing development, compounded further by the global spike in inflation during 2022. […] February 20, 2023 Dewa’s 2022 profit rises 22% on higher power and water demand Dubai utility provider Dubai Electricity and Water Authority (Dewa) reported a net profit of AED8 billion ($2.18 billion) in 2022, up 22 percent year-on-year, due to higher power and water demand. Consolidated revenue increased 15 percent year-on-year to AED27.35 billion in 2022, the UAE state-owned WAM news agency reported. Net profit and revenue for the […] February 9, 2023 Analysis Banking & Finance Middle East stock markets set to continue strong run of IPOs The stock markets in the Middle East and North Africa are preparing for a strong pipeline of initial public offerings (IPOs) in the coming months. Bourses across the region are looking to build on the success of 2022 when it saw a record number of 51 IPOs and combined proceeds of $22 billion. Abu Dhabi […] February 1, 2023 Energy Clean energy makes up 14% of Dubai’s total power production The production capacity of clean energy in Dubai has reached 2,027 megawatts (MW) using photovoltaic solar power (PV) and concentrated solar power (CSP), state-run WAM news agency reported. This makes up about 14 percent of the Emirate’s total power production capacity of 14,517MW, said Saeed Mohammed Al Tayer, chief executive officer CEO of Dubai Electricity […] January 2, 2023 Transport UAE industrial giant to supply solar aluminium for Nissan cars Emirates Global Aluminium (EGA), the largest non-oil and gas industry company in the UAE, has agreed to supply solar power-produced aluminium to Japan to make Nissan cars. The agreement with Kobe Steel will see the supply of EGA’s CelestiAL solar aluminium to one of the largest rolling mills in Japan. Automotive body sheet is used […] December 19, 2022 Exclusive Manufacturing Gulf switches to more energy efficient cooling solutions The UAE’s replacement market for air conditioning (AC) is growing fast as energy consumption concerns continue to rise. Global consumption of electricity for household ACs is increasing rapidly, creating urgent demand for more efficient cooling systems. Energy demand for space cooling will more than treble by 2050 unless there is action to address energy efficiency, […] December 15, 2022 Posts navigation Previous 1 … 3 4 5 6 Next
Banking & Finance Dubai utility provider approves $1.3bn dividend payout Shareholders of state-owned utility provider Dubai Electricity and Water Authority (Dewa) have approved the payment of total dividends of AED4.77 billion ($1.30 billion) as of April 20, 2023. The 12-month dividend yield for shareholders stands at 6.3 percent, considering the IPO price of AED2.48 per share, state-run WAM news agency reported Shareholders must be on […] April 11, 2023
Neom Renewable energy desalination is the way forward for GCC states Projects in the Middle East are seeking to increase their use of renewable energy desalination amid criticism of the traditional process as being high-cost and energy-intensive. The Mena region is expected to add an estimated 20GW of solar capacity and 5-6GW of wind by 2025, and the use of these sources is increasingly coming to […] March 28, 2023
Opinion Renewable Energy How Mena’s infant solar boom is affected by rising costs Solar power remains attractive despite new challenges March 20, 2023
Markets Profits of 123 Emirates-listed companies at $52bn in 2022 The net earnings of 123 UAE-listed companies reached AED191 billion ($52 billion) in 2022, indicating their strong financial position and healthy revenue growth. The net profits of listed firms increased by 60 percent, or AED72 billion, last year, according to a state-owned Emirates News Agency (WAM) report. Out of the total earnings, nearly 77 companies […] February 20, 2023
Analysis Energy Sunny times ahead for Gulf’s solar market Developers are making the most of an expanding pool of public tenders for the Gulf’s solar market, with the UAE and Saudi Arabia leading the way. Experts said the sector was in a healthy state despite the coronavirus pandemic and war in Ukraine curbing development, compounded further by the global spike in inflation during 2022. […] February 20, 2023
Dewa’s 2022 profit rises 22% on higher power and water demand Dubai utility provider Dubai Electricity and Water Authority (Dewa) reported a net profit of AED8 billion ($2.18 billion) in 2022, up 22 percent year-on-year, due to higher power and water demand. Consolidated revenue increased 15 percent year-on-year to AED27.35 billion in 2022, the UAE state-owned WAM news agency reported. Net profit and revenue for the […] February 9, 2023
Analysis Banking & Finance Middle East stock markets set to continue strong run of IPOs The stock markets in the Middle East and North Africa are preparing for a strong pipeline of initial public offerings (IPOs) in the coming months. Bourses across the region are looking to build on the success of 2022 when it saw a record number of 51 IPOs and combined proceeds of $22 billion. Abu Dhabi […] February 1, 2023
Energy Clean energy makes up 14% of Dubai’s total power production The production capacity of clean energy in Dubai has reached 2,027 megawatts (MW) using photovoltaic solar power (PV) and concentrated solar power (CSP), state-run WAM news agency reported. This makes up about 14 percent of the Emirate’s total power production capacity of 14,517MW, said Saeed Mohammed Al Tayer, chief executive officer CEO of Dubai Electricity […] January 2, 2023
Transport UAE industrial giant to supply solar aluminium for Nissan cars Emirates Global Aluminium (EGA), the largest non-oil and gas industry company in the UAE, has agreed to supply solar power-produced aluminium to Japan to make Nissan cars. The agreement with Kobe Steel will see the supply of EGA’s CelestiAL solar aluminium to one of the largest rolling mills in Japan. Automotive body sheet is used […] December 19, 2022
Exclusive Manufacturing Gulf switches to more energy efficient cooling solutions The UAE’s replacement market for air conditioning (AC) is growing fast as energy consumption concerns continue to rise. Global consumption of electricity for household ACs is increasing rapidly, creating urgent demand for more efficient cooling systems. Energy demand for space cooling will more than treble by 2050 unless there is action to address energy efficiency, […] December 15, 2022
