ABU DHABI / WAM The UAE has been ranked first in the Arab world and 19th globally for its ability to attract foreign direct investment (FDI) inflows by the World Investment Report 2022 issued by the United Nations Conference on Trade and Development (UNCTAD). The UAE also emerged 17th globally in terms of FDI outflows that totaled $22.5 billion ...

  Abu Dhabi / WAM Masdar City, a world-class technology and innovation hub and a pioneering sustainable community in Abu Dhabi, along with its consulting partners Woods Bagot and Faithful+Gould, has advanced its contribution to the UAE Net-Zero by 2050 Strategy with the groundbreaking ceremony of its latest development – the Masdar City Square (MC2). The MC2 development covers an ...

ABU DHABI / WAM The UAE’s state media organisations have won 18 awards at the 15th Gulf Radio and Television Festival hosted by the Kingdom of Bahrain. The festival took place from June 21-23, with the participation of various government and private radio and television entities from the Gulf Cooperation Council (GCC). Abu Dhabi Media received the Gold award in ...

  Abu Dhabi / WAM The United Arab Emirates hosted the second UAE-Romania Joint Committee at the Ministry of Foreign Affairs and International Cooperation in Abu Dhabi. The meeting was co-chaired by Ahmed Al Sayegh, Minister of State, and Bogdan Aurescu, Minister of Foreign Affairs of Romania. A number of senior officials representing various governmental organisations and private companies from ...

  Bloomberg A group of oil and gas producers including Equinor ASA, Shell Plc and TotalEnergies SE are considering building what would be the world’s largest floating wind farm off Norway to power their fossil-fuel activities. The companies are looking at options to build a 1-gigawatt wind farm to power operations in the Troll and Oseberg oil and gas fields, ...

  Bloomberg European power prices surged to the highest level since December after Germany took a step closer to rationing natural gas supplies amid cuts to flows from Russia. Rising gas prices have been pushing up the cost of electricity across Europe, fuelling inflation and increasing the economic burden on businesses and households still recovering from the pandemic. German power ...

  Bloomberg BHP group u-turned on its plan to exit from thermal coal, after surging prices made the assets more valuable and a shift in investor attitudes has reduced pressure on the company to stop mining the dirtiest fuel. The world’s biggest resources companies and their shareholders have been grappling for years with the question of whether to get out ...

  Bloomberg The UK’s development finance agency will invest about $200 million in African hydroelectricity projects to boost the continent’s renewable energy portfolio. British International Investment Plc, formerly CDC Group, will invest into a joint venture between Norway’s Norfund AS and Scatec ASA to deliver about 675 megawatts, its largest backing for water-generated power, the fund said. Norfund plans to ...

  Bloomberg Italy may trigger its emergency gas plan as soon as next week if Russia continues to curb supplies, a move that may involve a bigger reliance on the dirtier fuels. If Gazprom PJSC doesn’t restore its gas supplies to Italy by mid-week, the government may initiate an emergency phase for its market, according to people familiar with the ...

  Bloomberg Japan will withdraw financing for key coal-fired power plant projects in Bangladesh and Indonesia under efforts aimed at accelerating a global phase-out of the dirtiest fossil fuel. Asia’s second-largest economy will stop providing government-backed yen loans to the Matarbari 2 coal expansion project in Bangladesh and the Indramayu plant in Indonesia, the country’s Foreign Ministry said in a ...