Energy US Republicans call IEA an ‘energy transition cheerleader’ Members of the US Republican Party have hit out at the International Energy Agency, criticising its latest forecasts and accusing it of becoming an “energy transition cheerleader”. Leaders from the Republicans, who hold the majority in the Congress, have opened a joint probe into the Paris-based watchdog this week, accusing the agency of straying from […] March 22, 2024
Energy Arab Energy Fund reveals second year of record income The Arab Energy Fund, previously known as Apicorp, has announced a second consecutive year of record net income. The fund, which is based in Riyadh and focused on the Mena energy sector, announced net income of $225 million in 2023, up by more than half on 2022’s figure. The Arab Energy Fund (TAEF) said the […] March 20, 2024
Construction Gulf funds investing in Cyprus ‘only a question of time’ Three sovereign wealth funds from the Gulf are in discussions to invest in real estate projects in Cyprus, according to one of the island’s biggest developers. “It’s only a question of time that it is going to happen,” said Pantelis Leptos, co-president of the developer Leptos Estates, without giving further details on the wealth funds […] March 19, 2024
Opinion Sustainability Carbon capture isn’t a silver bullet but it’s part of the answer The priority for the energy transition should be to reduce emissions. Systems integration can do this March 18, 2024
Tech Hong Kong most likely for IPO listing of Dubai’s Telegram Telegram, the Dubai-based messaging app known for its encryption features and large group chats, is most likely to target Hong Kong for its potential listing, experts have said. This preference stems from the challenges its founder, Pavel Durov, might face in Western markets due to his Russian nationality. Durov said in a Financial Times interview […] March 18, 2024
Health ‘Smart ring’ project aims to help fight chronic health problems A wearable “health ring” is being used by a Dubai-based healthcare technology startup to help combat the Middle East region’s metabolic diseases crisis. The company, Metabolic – which brands itself as meta[bolic] – has signed a partnership with the Finnish maker of the Oura Ring, and aims to stem the billions lost in healthcare systems […] March 16, 2024
Oil & Gas IEA predicts oil supply will turn to deficit in 2024 Global crude markets supplies will shift from surplus into deficit in 2024, the International Energy Agency (IEA) has predicted, implying higher hydrocarbon prices. The Paris-based watchdog raised its forecast for this year’s oil demand on Thursday on an improved outlook for the US economy and increased bunker fuel use, as attacks by the Houthis on […] March 15, 2024
Oil & Gas Oil prices edge up following crude outlook reports Oil prices rose early on Wednesday, supported by Opec’s encouraging outlook for crude demand and a report by the US Energy Information Administration (EIA) forecasting tighter world oil supplies. Brent prices traded up 1 percent, close to $83 per barrel, while West Texas Intermediate was up the same at just over $78 per barrel. Saudi […] March 13, 2024
Opinion Tech Think local: the best weapon in the fight to topple an e-commerce giant A Mena startup can outwit a global behemoth if it uses its insider knowledge of its customers March 12, 2024
Opinion Infrastructure Saving the old with the new: how tech can revive historic cities Technology can help protect heritage locations from multiple modern threats March 12, 2024
Opinion Media & Advertising Pay attention to consumers’ changing behaviours during Ramadan Marketers are looking at ways to understand and capitalise on the days and weeks following Eid March 11, 2024
Banking & Finance India is top Asian target for Middle East investors India is more than twice as important as China as a target for Middle East investment, an industry report has revealed. Since 2020, private capital deal value from the Middle East into Asia has soared more than sixfold, from $14 billion between 2016 and 2019 to $83 billion since 2020, data from the Global Private […] March 11, 2024
Analysis Employment Alstom breaks mould as Gulf lags on hiring women as CEOs Dalya Al Muthanna is a member of an exclusive club. In January she became Gulf CEO for the transport giant Alstom, the company behind tram systems in Dubai and Qatar. She was previously a senior executive at GE in the UAE, bucking the trend of men dominating senior C-suite jobs in the Gulf. Just 5 […] March 8, 2024
Manufacturing Stellantis hails Middle East and Africa sales surge Multinational car maker Stellantis has announced that its 2023 Middle East and Africa revenues grew by 64 percent year on year to more than $11.5 billion. Stellantis is one of the world’s biggest automakers – its brands include Alfa Romeo, Chrysler, Citroën, Peugeot and Vauxhall. It said shipments to the region totalled 616,100, up 43 […] March 6, 2024
Food & Drink Kuwait’s Alshaya lays off Mena Starbucks staff Kuwait’s Alshaya Group, one of the Gulf’s largest franchise owners, is cutting jobs at its Starbucks outlets. The coffee brand has suffered from calls for a boycott since the start of the Gaza conflict. “As a result of the continually challenging trading conditions over the last six months, we have taken the sad and very […] March 5, 2024
Aviation Middle East aviation fleet to double in next decade The number of aeroplanes operated by commercial airlines across the Middle East will grow by more than half to 2,200 over the next 10 years, according to a report from Oliver Wyman, the consultants. The size of the Middle East aviation fleet is projected to increase at an annual rate of 4.2 percent from 2024 […] March 5, 2024
Opinion Banking & Finance Took them long enough, but at last BlackRock is calling out ESG The US investment giant could have got there sooner if it had listened to the Gulf March 4, 2024
Oil & Gas Opec extends voluntary cuts to support oil market stability Opec+ producers led by Saudi Arabia and Russia have stretched their additional voluntary crude supply cuts for another three months, as the oil bloc strives to support the stability and balance of sluggish markets. Oil prices traded flat Monday morning after a slight spike following the Opec announcement. Brent crude traded around $83.50 per barrel. […] March 4, 2024
Video length: 04:40 VIDEO Trade UAE companies ‘can do more’ with Brics UAE businesses need to do more to take advantage of the UAE joining Brics and signing free trade agreements with various countries, according to the chairman of Dubai Chambers. “Other countries are aware, but our business community needs to take advantage of what they can do with India, Indonesia, Turkey and other countries,” Abdul Aziz […] March 1, 2024
Aviation Passengers pay for aviation’s sustainability shortcomings Penalties imposed on the aviation industry for failing to meet stringent sustainability targets will ultimately lead to higher air fares for passengers, according to an industry expert. “The customer is going to pay the extra cost,” said Wahab Teffaha, secretary general of the Arab Air Carriers’ Organization, speaking at the 11th annual Arab Aviation Summit […] February 29, 2024
Logistics GCC companies safeguard stocks against Red Sea crisis Businesses in the GCC are adding up to three months to their supply chains as disruption in the Red Sea persists. Despite the increased costs, a survey of executives from the region revealed companies are maintaining “substantial extra inventory” in the face of the current geopolitical uncertainties. The fourth annual Trade in Transition study by […] February 28, 2024
Opinion Business of Sport Why cricket could be next on the list for Saudi Arabia’s PIF Saudi Arabia wants sports with mass participation, rich histories and big economies February 27, 2024
