Opinion Oil & Gas Five outrageous Middle East predictions for 2024 Pure madness or real possibilities? You decide January 2, 2024
Analysis Oil & Gas Opec set for tricky new year: US booms and demand slows Opec+ has struggled to maintain high oil prices this year and 2023 is ending with Brent trading 10 percent lower year on year and below the crucial $80 break-even mark of GCC countries. 2024 looks likely to be another challenging year for the oil alliance, analysts have told AGBI. Oil demand rose by more than […] December 29, 2023
Opinion Real Estate The dark side of life in Los Angeles The economic record of California will come under global scrutiny December 22, 2023
Analysis Trade UAE-US trade relations defy region’s pivot to the east The trade relationship between the UAE and the US remains strong even while GCC countries increasingly look east for opportunities. In October 2023, the US trade balance with the UAE stood at $1.63 billion, while US exports grew 28 percent year on year to reach $2.3 billion the same month. Martina Strong, the US ambassador […] December 19, 2023
Opinion Economy Sisi’s third term heralds a new economic blueprint Financial crisis looms but Egypt is 'too big to fail' December 14, 2023
Finance UAE and Qatar keep rates steady in line with US Fed The central banks of the UAE and Qatar have followed the US Federal Reserve’s decision to keep interest rates unchanged. The Central Bank of the UAE maintained its base rate on overnight deposit facility at 5.4 percent, the UAE state-run Wam news agency reported. The central bank also decided to maintain the interest rate on […] December 14, 2023
Sustainability Cop28 denies ‘favouritism’ in fossil fuel wording The UN climate talks in Dubai stretched past the Tuesday morning deadline set as tensions mounted over a deal that departed from committing to a phase-out of fossil fuels. The latest draft of the global stocktake sparked fury from climate activists and politicians last night. Majid Al Suwaidi, director-general of Cop28, told a press conference […] December 12, 2023
Renewable Energy Oman could become world leader in geologic hydrogen Green hydrogen has made global headlines as a potential carbon-free alternative to fossil fuels, but some experts believe another, abundant source of the gas could be under our feet. It is known as geologic hydrogen. Geologic hydrogen occurs naturally in the earth’s crust and is produced when water reacts with iron-rich rocks in the subsurface. […] December 10, 2023
Energy Exxon Mobil hits back at IEA carbon capture criticism Exxon Mobil CEO Darren Woods on Saturday rejected the International Energy Agency’s (IEA) recent claim that using wide-scale carbon capture to fight climate change was an implausible “illusion,” saying the same could be said about electric vehicles and solar energy. “There is no solution set out there today that is at the scale to solve […] December 3, 2023
Energy US launches plans to curb methane emissions The United States has announced a comprehensive plan to target methane emissions from the country’s oil and gas sector – a critical step in the global effort to curb emissions contributing to climate change. The US Environmental Protection Agency (EPA) introduced policies banning routine flaring of natural gas from new oil wells, mandating leak monitoring […] December 2, 2023
Sustainability Carbon capture and storage not a ‘miracle’ climate cure A new study has strongly criticised fossil fuel-producing states for incorporating carbon capture and storage (CCS) in their climate strategies, claiming the technology is being used to extend the shelf life of oil companies rather than as a climate action tool. As Cop28 kicked off in Dubai, analysis by US-based non-profit environmentalist organisation Oil Change […] December 2, 2023
Economy UAE’s $100m leads climate disaster fund Cop28 pledges Negotiators at Cop28 in Dubai struck the first deal of the summit on Thursday evening, officially agreeing to set up a fund to help vulnerable countries recover from damage caused by climate change. The plan to create a United Nations-led “loss and damage” fund was hailed as a breakthrough for negotiations at Cop27 in Egypt […] November 30, 2023
Opinion Oil & Gas US oil has got its groove back – now Opec has to react The resurgence of the US shale industry complicates the calculations for Opec producers meeting this month November 20, 2023
Opinion Sustainability This year’s Cop will be the most complex yet The UAE’s Cop28 agenda will tackle thorny but imperative issues November 20, 2023
Banking & Finance PIF maintains US holdings as giga-project demand eases US equity holdings of the Saudi Public Investment Fund (PIF) showed little change in the third quarter, as recently revised foreign direct investment figures eased pressure on it to support the kingdom’s giga-projects. PIF total ownership in US equities slipped to $36.48 billion from $38.93 billion in the second quarter, according to a PIF filing […] November 16, 2023
Video length: 01:47 Dubai Airshow Aviation Boeing remains cautious on prospect of supersonic flight Neom Investment Fund – part of the Saudi giga-project Neom – has invested in US aircraft manufacturer Boom Supersonic, and Riyadh Air is also considering supersonic flight in its future projects. Saudi Arabian entities, it appears, are not fazed by the view of some industry experts that faster-than-sound flight poses unique difficulties. Darren Hulst, commercial […] November 15, 2023
Aviation India and Gulf tipped as key markets for private jet hire Private jet operator Vista Global Holding is expecting the Middle East and India to be its fastest-growing markets in the luxury aviation industry. The Dubai company’s “pay for hours flown” platform, VistaJet, has a fleet of about 360 aircraft available at 24 hours’ notice. “The most dynamic and fast-growing markets for us are the Middle […] November 15, 2023
Opinion Oil & Gas The tantalising prospect of a global decarbonisation alliance Cop28 has the chance to change perceptions of the hydrocarbon industry November 13, 2023
Opinion Economy A looming US fiscal crisis could hit the Gulf hard US debt and its impact on dollar interest rates could squeeze GCC economies November 13, 2023
Video length: 04:43 Video Masdar City exec: Let’s talk about greenwashing Greenwashing – a deceitful marketing gimmick where companies exaggerate their environmental actions – is “egregious” as it takes advantage of a movement that affects everyone on earth, according to Bill Weir, CNN’s chief climate correspondent. A recent global survey conducted by US-based The Harris Poll and sponsored by Google Cloud found that six out of […] November 8, 2023
Video length: 06:16 Opinion Finance Once off the grey list, UAE can really work on its image The UAE deserves credit for its rapid response to being placed on the financial crime watchdog's enhanced monitoring, but it has unfinished business October 30, 2023
Banking & Finance Gulf’s ‘copycats’ still attractive to Silicon Valley Copycat companies in the Middle East are still an attractive acquisition option for Silicon Valley giants because the risk of trying to establish themselves in the region is too high, according to Thiel Capital managing director Jack Selby. The Middle East has been criticised for mimicking startups from other parts of the world, rather than […] October 24, 2023