New record-breaking solar plant announced for Abu Dhabi

The new 2GW solar project in Al Dhafra will eclipse the 1GW Noor Abu Dhabi plant – currently the world’s largest single solar project

Oil production cuts weigh on Saudi growth in first quarter

The kingdom’s oil sector grew 1 per cent in the first quarter, down from almost 6 per cent growth in the previous quarter

World is “facing grave climate emergency” UN Secretary-General tells Abu Dhabi conference

António Guterres was addressing delegates at the two-day Abu Dhabi Climate Meeting

dubai civil defence

Dubai tower blaze claims life of firefighter

The fire was quickly brought under control with no civilian casualties reported

World Government Summit to take place during Expo 2020

The gathering will take place between November 22-25, 2020, and is expected to draw 100,000 participants

World’s largest solar project starts operation in Abu Dhabi

Noor Abu Dhabi is spread across an 8 kilometre-squared site, features more than 3.2 million solar panels, and has a capacity of 1,117 megawatts

dubai limousine

Dubai’s RTA to turn 90% of limousines green by 2026

A new initiative will see 65 per cent of the Dubai limousine fleet turned into hybrid vehicles, and 25 per cent turned into electric vehicles

Abu Dhabi Special Olympics generated almost Dhs1bn in economic output – report

The 10-day event was held in March, with 200 nations, 7,000 athletes and 20,000 registered volunteers taking part

OPEC+ cuts that steadied market now bring risk of $100 crude

Russia agrees with Saudi Arabia to extend OPEC+ oil output deal

Saudi Energy Minister Khalid Al Falih said on Sunday that the deal would most likely be extended by nine months

Former Abraaj executive pleads guilty to US charges

Former managing partner Mustafa Abdel-Wadood was arrested in New York in April and released on bail

South Korea’s Hyundai Oilbank inks crude oil supply deals with Saudi Aramco

Aramco will supply 150,000 barrels per day of crude to the refiner for 20 years

ADNOC closes $4bn pipeline deal with KKR and BlackRock

ADNOC Oil Pipelines will lease 18 pipelines transporting crude oil and condensates for 23 years

UAE to launch Falcon Eye 1 satellite in July

The satellite will be used for mapping, agricultural monitoring, urban planning, monitoring changes in the environment, and more

Sharjah Islamic Bank raises $500m from AT1 Sukuk

The Sukuk was oversubscribed by 10 times, receiving orders of $4.8bn

Saudi Arabia signs $8.3bn economic pact with South Korea

The agreement includes a $6bn deal between Saudi Aramco and Korean firm S-Oil

Dubai-based Sprii.com raises $8.5m in latest funding round

The e-commerce platform plans to use the funds to accelerate expansion across the Middle East

World’s largest offshore oil platforms inaugurated in UAE

Umm Lulu Gas Treatment Plant weighs 32,000 metric tonnes, and will be based at the Umm Lulu Field in the Arabian Gulf

Saudi Arabia relaxes ownership limits for foreign investors

The kingdom aims to attract billions of dollars of foreign funds as it opens up the region’s largest bourse

Oman to open embassy in Palestinian territories’ West Bank

Oman closed its diplomatic mission in Gaza following the 2006 Israeli bombing of the strip of land

Dubai bus crash: Omani driver charged with ‘wrongful’ death of 17 passengers

If found guilty, the driver could face imprisonment for up to seven years, a fine, as well be obliged to pay Dhs3.4m in blood money

Saudi’s NEOM says Aecom hired as project management consultant

The construction of NEOM Bay is expected to start this year

Saudi forces intercept another Houthi drone headed towards a residential area

An attack by the Houthis on Saudi’s Abha airport earlier this week killed one person and wounded 21 others

Abu Dhabi Financial Group and Shuaa Capital agree on merger

The combined entity will remain listed on the Dubai stock exchange

Abu Dhabi reveals nine new initiatives to boost the private sector

Ecotourism incentives, SME loans and instant licences are among the new initiatives

Video: Saudi forces say they have captured leader of Yemen branch of ISIS

Abu Osama al-Muhajer, as well as other members of the organisation, were captured in a raid on June 3

Kuwaiti equities to be in main MSCI emerging markets index from 2020

The Kuwaiti market has outperformed markets in the Middle East this year in anticipation of the MSCI move

Dubai’s RTA to relocate metro cabin allocated to women and children

The relocation process will be completed by the end of August

Russia leads as top crude supplier to China, overtakes Saudi

Arrivals from Saudi Arabia fell 25 per cent last month from a year ago to 1.108 million bpd

UAE low-cost carrier Air Arabia launches direct flights to Vienna

The route will begin as a four-times weekly service, before increasing to a daily service in December

UAE has issued gold-card residency visas to 400 expats so far

The residency visas will be renewed every 10 years