Abu Dhabi / WAM The UAE adopted a general expansionary fiscal policy during the first quarter of 2018 and increased its overall annual spending by 15.6 percent due to the recovery in oil prices, which led to increased proceeds from petroleum-based products. The recovery was also driven by a 21.7 percent increase in annual salaries and wages, as well as …

DUBAI / WAM Emirates Central Cooling Systems Corporation (Empower) concluded its ‘240C Cool’ campaign, and achieved 4.1 percent savings on district cooling consumption in the past three months. The campaign, which was launched in July 2018, seeks to reduce energy consumption through mai-ntaining optimum temperature as well as reducing the value of customers’ consumption bills, in order to achieve sustainable …

VIENNA/ WAM Suleiman Al-Herbish, Director-General of the OPEC Fund for International Development (OFID) has said that supporting development operations in the energy sector lies at the heart of OFID’s strategic plan to 2025. In a statement issued from OFID’s premises in Vienna, Al-Herbish reiterated OFID’s commitment to support sustainable development plans in Arab countries, particularly energy projects, and outlined various …