UAE: World needs maximum energy with minimum emissions, says minister
Maximum energy with minimum emissions can ensure global energy security, an Emirati minister said during the 38th edition of the Abu Dhabi International Petroleum Exhibition Conference (ADIPEC) 2022. Dr Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology noted that the conference comes at a “pivotal” moment. “The solutions we agree on and the […]
Sunset Hospitality gets $35mln funding from Goldman Sachs
Sunset Hospitality Group (SHG), a diversified hospitality group in Dubai, renowned for developing and operating highly popular lifestyle brands, has secured $35 million funding from Goldman Sachs Asset Management. SHG was founded in Dubai ten years ago and is currently present across nine countries worldwide. The group owns and operates a large portfolio of […]
Kuwait-backed Wafra raises $1.5bln for stakes in fund managers
Wafra Inc, an investment firm backed by Kuwait’s public pension fund, said on Monday it has raised $1.5 billion for its fourth flagship fund that will acquire minority stakes in alternative asset managers such as private equity firms. The new fund, Capital Generation IV, will seek to acquire minority stakes in “lower middle-market” […]
Dubai’s DEWA adds 600MW of clean energy production capacity
Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (DEWA), announced that the entity had added 300 megawatts of photovoltaic solar energy in 2022 from the 5th phase of the Mohammed bin Rashid Al Maktoum Solar Park, the world’s largest single-site solar park using the Independent Power Producer (IPP) […]
ADNOC announces new Upstream Methane Intensity Target of 0.15% by 2025
Abu Dhabi National Oil Company (ADNOC) announced on Monday that it has set a new Upstream Methane Intensity target of 0.15% by 2025. The new target is the lowest in the Middle East, reinforcing ADNOC’s status as a leader in the responsible production of lower carbon energy. ADNOC’s 0.15% methane intensity target means […]
Dubai: Metro services restored, no longer affected due to ‘technical issue’
The Dubai Metro line has resumed services back to normal after it had been affected by ‘technical issues’. Dubai’s Roads and Transport Authority (RTA) said that the service “between Jebel Ali and DMCC Metro Station is back to normal”. Metro services had been affected for approximately half an hour, earlier today. “Work is underway to […]
UAE seeks closer green partnership with China
As the United Arab Emirates’ energy transition gathers pace before it hosts the United Nations climate conference next year, it is looking to climate partners such as China to help it sustain the momentum, its climate change special envoy says. Dr Sultan bin Ahmed Al Jaber, UAE’s Minister of Industry and Advanced Technology, said the […]
Dubai’s Empower set to raise $362mln in IPO
Dubai government–backed district cooling company Empower, which is planning to sell 10% stake in an IPO, has set the price range at between 1.31 and 1.33 dirhams ($0.35 and $0.36) per share potentially raising a maximum of $362 million. Subscriptions are set to open on October 31, with Dubai Electricity & Water Authority (DEWA) and […]